Parabellum Resources (ASX:PBL) announced financial results for the quarter ended 30 September 2022

PBL entered into an agreement with Temarise Limited (UK) that holds the exclusive option to acquire 80% of Khotgor Project, Mongolia.

2,000 metre drilling program completed at Khotgor REE and samples despatched to laboratory for analysis.

Metallurgical test work studies commenced in Perth on a Khotgor bulk sample.

Resource, mining, metallurgical and engineering consultants appointed to undertake JORC Scoping Study for Khotgor.

ESG initial baseline report completed and released via the PBL website.

Commencement of Ground EM at Cobar to refine targets for drill testing.

Successful capital raising of $3.9m completed.

Robust cash position of $5.97m to fund ongoing exploration at both Khotgor and NSW projects.

Following the announcement the company?s share price rose 4.999%.