IperionX has addressed a short-seller report from Spruce Point Capital, reaffirming its focus on scaling up titanium production and manufacturing in Virginia. Trading of IperionX shares was temporarily halted on Thursday following the release of the report. The company assured investors on Monday that it maintains robust confidentiality, data-security, and intellectual property controls that align with the stringent requirements of the US Department of Defence. IperionX is focused on advanced titanium technologies with a fully circular vision, aiming to produce sustainable, low-carbon titanium products. The company is also developing a domestic titanium mineral resource to help build a totally end-to-end titanium supply chain.
IperionX stated that Spruce Point Capital did not engage with its management prior to publishing the report, and the company has no record of any attempted outreach. The company emphasised that Spruce Point Capital has never visited or requested to visit IperionX’s titanium manufacturing operations in Virginia. IperionX highlighted several validations from the US government, including ARPA-E, AFRL Grand Challenge, R&D 100 Award, Defence Production Act Title III, IBAS funding, and a US Army SBIR Phase III contract valued at up to $US99 million.
The company’s Virginia Titanium Manufacturing Campus has commissioned industrial-scale production, with capacity expected to increase from 200 tonnes per annum to 1400 tonnes per annum by mid-2027, co-funded by IBAS. IperionX continues to supply titanium components for the defence, automotive, and luxury goods sectors. Simultaneously, it is advancing its Titan Critical Minerals Project in Tennessee towards being shovel-ready.
As of the latest update, IperionX holds $US79.2 million in cash reserves. Additional funding is accessible through Defence programs and SBIR Phase III task orders, which are intended to bolster commercial scale-up and operational expansion.
