IperionX Limited will hold its annual general meeting in Sydney on November 25, 2026, at 11:00 a.m. AEDT. Shareholders will consider the annual report, an advisory vote on the remuneration report, the re-election of Todd Hannigan, Beverly Wyse, Melissa Waller, Vaughn Taylor, Lorraine Martin and Tony Tripeny, and the election of Michael Loparco.
Resolutions seek approval, subject to shareholder approval, to issue up to 388,633 RSUs to six non-executive directors: 77,228 to Lorraine Martin and 62,281 each to Vaughn Taylor, Melissa Waller, Beverly Wyse, Tony Tripeny and Michael Loparco. Another resolution proposes increasing the annual maximum non-executive director fee pool from US$300,000 to US$700,000, an increase of US$400,000. Shareholders are also asked to ratify the prior issue of 22,750,000 Placement Shares at A$3.19 per share, underlying 2,275,000 ADSs. Proceeds from the placement are for titanium and metal alloy technology commercialization and scale-up, the Virginia campus, the Camden-Titan Project in Tennessee, and general corporate purposes.
IPERIONX Limited (IPX) reported a $66.8 million net loss for fiscal 2026, compared with $35.3 million in fiscal 2025. It did not recognize revenue in fiscal 2026 or any of the prior four financial years. Cash and cash equivalents were $35.2 million and net assets were $88.3 million as of June 30, 2026. Net cash outflows from operating and investing activities were $63.5 million in fiscal 2026, compared with $46.1 million in fiscal 2025.
Virginia titanium operations transitioned to a 24/7 production schedule during fiscal 2026, and HAMR powder production met or exceeded Grade 5 quality parameters. IPERIONX is targeting an annualized titanium powder production run rate of approximately 200 metric tons per annum by the end of calendar 2026, subject to completion of ramp-up and operating optimization. Its commissioned powder metallurgy press triples existing capacity, while additional HSPT furnace capacity is being installed. The calendar 2025 scorecard cites a $47.1 million U.S. DoW IBAS program award to develop a secure, low-cost, mineral-to-metal titanium supply chain.
IperionX Limited reported that its Virginia titanium operations moved to a 24/7 production schedule in fiscal 2026. Technology and operating improvements raised nameplate powder capacity from 125 tpa to approximately 200 tpa without additional capital expenditure; the company targets an approximately 200 tpa annualized run rate by the end of calendar 2026, subject to ramp-up and operating optimization.
Planning, design and long-lead procurement are underway for an expansion to approximately 1,400 tpa targeted during 2027, with estimated capital expenditure of approximately US$75 million, including contingency, and targeted powder unit costs of approximately US$29/kg at full utilization. Projected steady-state powder unit costs on the current platform are approximately US$55/kg at full utilization. At June 30, 2026, U.S. government awards of US$47.1 million under IBAS and US$12.7 million under DPA Title III were fully obligated.
A June 2026 Titan Definitive Feasibility Study reported after-tax NPV of US$813 million, after-tax IRR of 39.4%, after-tax payback of 3.6 years and forecast after-tax free cash flow of US$1.9 billion over an initial 14-year mine plan. IperionX completed its US$3.0 million Atlas acquisition from Covia Solutions LLC on July 1, 2026.
IPERIONX Ltd (IPX) reports successful validation of its GenX™ next-generation continuous HAMR™ titanium production platform at its Virginia R&D facility, completing four commercial-scale runs. The continuous process achieved six times the throughput of the batch HAMR™ furnace with more than 75% lower power use.
The GenX™ system processed over 500 kg of titanium powder in 41 hours at about 12 kg per hour, with all valid product samples meeting the relevant ASTM oxygen benchmarks, including the stringent Grade 23 limit for spherical powder. Measured data show over 45% lower magnesium use and over 60% lower hydrogen use per kilogram versus batch HAMR™.
The company plans in Q4 2026 to further optimize the GenX™ furnace, integrate it into a full titanium powder production line, and advance technoeconomic and engineering work for the first industrial-scale GenX™ line. A U.S. Army Task Order under a US$99 million SBIR Phase III contract supports related continuous HSPT™ development in Virginia.
IPERIONX Ltd (IPX) reports that the U.S. Army has issued Task Order 2 under its Small Business Innovation Research (SBIR) Phase III IDIQ contract for low-cost domestic titanium. The SBIR Phase III contract allows project-specific orders collectively capped at US$99 million.
Task Orders 1 and 2 have an aggregate stated value of about US$19.8 million, leaving US$79.2 million available under the ceiling. Task Order 2 is a firm-fixed-price order with a base value of US$18.5 million, of which US$11.5 million is currently funded and obligated. Unexercised options of US$6.9 million could bring its maximum potential value to US$25.4 million.
The funding supports equipment and systems to expand IperionX’s U.S. titanium powder-to-part manufacturing capacity, including continuous HSPT™ and dehydrogenation furnaces and in-house fastener finishing at its Virginia facility. Option items, if exercised, could extend its patented HAMR™ and HSPT™ technologies into aerospace components and refractory-metal (C103 and niobium) powder programs.
IPERIONX Ltd reported the initial equity holdings of new director Michael J. Loparco. Upon joining the board on August 3, 2026, he received a sign-on grant of 58,584 Restricted Stock Units (RSUs). According to the disclosure, these RSUs vest on August 3, 2027, and are currently reported as directly owned holdings.
IperionX Limited intends to pursue a redomiciliation under which a newly incorporated Texas corporation would become the ultimate parent company of the group. The proposal is subject to shareholder, court, regulatory, exchange and other customary approvals. Subject to final structuring and approvals, the common stock of the new U.S. parent is expected to list directly on Nasdaq, replacing the existing ADS structure. The company states that the redomiciliation is intended to align its American operating footprint, customers and government-supported programs with an American legal and capital-markets structure, and is not expected to change underlying assets, operations or strategic priorities.
IperionX has also appointed Michael J. Loparco as an independent non-executive director, effective August 3, 2026. He brings more than 25 years of leadership experience across advanced manufacturing, industrial technology, automation, global supply chains and public-company governance, including senior roles at Symbotic Inc. and Jabil Inc. IperionX describes itself as an American titanium metal and critical materials company using patented technologies to produce high-performance titanium alloys and developing the Titan critical minerals project in the United States.
IperionX Limited advanced its U.S.-based titanium and critical minerals strategy for the quarter ended June 30, 2026. Titanium powder and component operations in Virginia ran on a 24/7 schedule, with commissioning of a 300-ton SACMI press that triples powder metallurgy capacity and installation of new HSPT™ furnaces to ease downstream bottlenecks. Customer programs progressed, including titanium impeller prototypes for Carver Pump, track-pin development and fastener work supported by U.S. Army testing.
In Tennessee, a U.S. Government-supported Definitive Feasibility Study for the Titan Critical Minerals Project outlined an after-tax NPV8 of US$813 million, a 39.4% after-tax IRR and staged capital of US$228.1 million for Phase 1 and US$153.2 million for Phase 2. IperionX completed the US$3 million Atlas acquisition adjacent to Titan, adding high-grade stockpiles and infrastructure, with an integrated Atlas-Titan economic study targeted by the end of 2026.
U.S. Government support totals US$59.8 million in DPA Title III and IBAS awards, with US$22.7 million reimbursed and US$37.1 million remaining reimbursable, plus an SBIR Phase III contract pathway up to US$99 million. Cash was US$35.2 million at June 30, 2026, with pro-forma cash of about US$84 million after a July underwritten public offering of 2,275,000 ADSs at US$21.98 per ADS for approximately US$50 million in gross proceeds and a US$2.4 million DPA Title III reimbursement; net cash used in operating activities was US$11.9 million for the quarter.
IPERIONX Ltd director Beverly Wyse exercised options to acquire 106,093 IPX Ordinary Shares at 0.8700 in Australian dollars per share that were exercisable until December 5, 2026. After the exercise she directly holds 745,868 ordinary shares plus 84,771 RSUs, with 70,609 vesting in December 2026 and 14,162 in December 2027; no open‑market sale is reported.
IPERIONX Ltd director R Tony Tripeny bought 3,846 American Depository Shares (ADS) on July 14, 2026 at $26 per ADS in an open-market purchase. After the trade, he directly holds 8,033 ADS, 51,010 Restricted Stock Units and 38,777 IPX ordinary shares.