IperionX reports $79.2M in cash as of September 30

The company said, “Highlights during and subsequent to the end of the quarter include: Commercial operations: production online, with higher production capacity and lower unit costs: All planned major manufacturing equipment is online and operational, for both titanium powder production and component manufacturing at the Titanium Manufacturing Campus in Virginia. Process improvements and optimization has lifted nameplate titanium powder production capacity by 60% without additional capital spend, with further increases in production capacity expected in 2026. Titanium manufacturing sales are expected to progressively scale through 2026, with a positive EBITDA inflection point projected by year-end 2026.Consumer-electronics scrap processing has commenced, using scrap supplied by the consumer electronics OEM, with IperionX (IPX) by now producing a range of consumer electronic components as specified in the customer contract. Production of various fasteners has commenced with IperionX receiving initial purchase orders for the delivery of a range of fastener products into applications for the U.S. military and commercial and industrial markets. Mid-2027 U.S. Department of War backed expansion underway to become the largest & lowest cost U.S. producer: IperionX is now scaling titanium capacity to 1,400 tpa, with commissioning planned for mid-2027, positioning IperionX to be America’s largest and lowest-cost titanium powder producer. The 1,400 tpa expansion accelerates a more resilient and sustainable U.S. titanium supply chain, cutting reliance on foreign imports and supporting national security for aerospace, defense, and electric vehicles. The total expansion capital is ~$75 million, and is majority funded through the U.S. DoW Industrial Base Analysis and Sustainment award of $47.1 million, of which $42.5 million has now been obligated to IperionX. Rapid scaling of advanced titanium manufacturing capacity will be undertaken in parallel – powder metallurgy, forging, and additive systems to deliver integrated titanium supply chain capabilities. Accelerated growth roadmap targets market leadership in high-performance titanium components: Roadmap being developed to further scale titanium production capacity, targeting cost competitiveness with stainless steel and aluminum by 2030. Technology-driven cost advantage – the patented titanium HAMR and HSPT technologies significantly increase manufacturing yields, while cutting process steps, energy and capex intensity, resulting in long-term cost advantage. IperionX has begun the upfit of a new facility in Halifax County, Virginia to deliver the next generation of HAMR and HSPT technologies that will drive the titanium cost curve even lower. U.S. Government Funding: IperionX was obligated a further $37.5 million under the U.S. Department of War’s IBAS US$47.2 million award, taking total obligations to date to $42.5 million. The remaining $4.6 million is expected to be obligated over the contract term. Confirmation of the additional obligation enables IperionX to finalize its scale-up plans to achieve a production capacity of 1,400 metric tonnes of titanium per year.”