IperionX shares have surged, gaining over 7 per cent in early trading on Friday, extending its five-day rally to more than 15 per cent. This surge follows news that the company has received an order from American Rheinmetall to manufacture lightweight titanium components for the US Army’s heavy ground combat vehicles. IperionX focuses on producing low-carbon intensity titanium products, aiming to establish a fully integrated titanium supply chain. The company is also developing titanium metal powders for various advanced industries.
Shaun Weick, deputy portfolio manager at Wilson Asset Management, believes this contract could lead to further opportunities for IperionX. He noted the significance of this prototype agreement, suggesting it could pave the way for more substantial contract awards in the near future given the numerous possibilities currently available to the company.
Weick also highlighted the strategic importance of IperionX’s US-based Titan mine, which he believes the market is currently undervaluing. He anticipates that unlocking the value of the Titan mine will serve as a key catalyst for future growth and development for IperionX.
As of 10.40am AEDT, shares in IperionX were up 7.5 per cent, reflecting the positive market response to the recent developments and future prospects.
