SOUTH BOSTON, Va., July 30, 2026 (GLOBE NEWSWIRE) -- IperionX Limited (Nasdaq: IPX | ASX: IPX) is pleased to present its quarterly report for the period ended June 30, 2026. Highlights during and subsequent to the end of the quarter include:
Operations – Titanium powder production
- Virginia operations continued on a 24/7 production schedule during the quarter, with HAMR™ systems in ramp-up and production focused on supporting customer qualification, engineered product programs and direct powder requirements.
- HAMR™ powder production continues to consistently meet or exceed grade 5 quality parameters, and has confirmed the ability to successfully commercialize HAMR™ as a breakthrough process for the production of primary titanium metal.
- Production volumes during the quarter were temporarily reduced by furnace downtime and maintenance, with operations subsequently returning to regular ramp-up cadence. The downtime did not affect the availability of titanium powder for downstream production activities.
- IperionX continues to target a run-rate production capacity of approximately 200 tpa of titanium powder by the end of CY2026, subject to completion of ramp-up and operating optimization activities.
- Development of GenX™, IperionX’s next-generation continuous HAMR™ platform, continued during the quarter.
Operations – Titanium product manufacturing
- The advanced 300-ton, six-axis SACMI powder metallurgy press successfully completed site acceptance and commissioning in May. The press triples IperionX’s existing powder metallurgy capacity and materially expands the range, complexity and repeatability of near-net-shape titanium components that can be manufactured in Virginia.
- The first of two additional HSPT™ sintering furnaces has arrived and is being installed and commissioned, with the second expected shortly; once operational, the furnaces will increase downstream capacity, throughput and production flexibility.
- Product manufacturing advanced across multiple customer programs, including successful production of titanium impeller prototypes for Carver Pump, automotive components for Ford, and continued development of titanium track pins and fasteners for the U.S. Army.
- Additive manufacturing and powder-to-product development continued across defense, aerospace, consumer electronics and industrial applications, including production of spherical powder samples for qualification, alongside preparation for titanium plate and large-format component programs.
Customers and product development
- Independent testing by U.S. Army DEVCOM GVSC and Westmoreland Mechanical Testing & Research showed IperionX Ti-6Al-4V fasteners exceeded SAE Grade 8 steel torque-to-yield performance and achieved tensile properties above standard aerospace-grade titanium fastener benchmarks. These results validate HSPT™ and THRM™ at finished-product level and support IperionX’s lower-cost, higher-performance powder-to-product proposition.
- Subsequent to quarter end, IperionX received an additional U.S. Army GVSC purchase order to manufacture prototype titanium fasteners for the Joint Light Tactical Vehicle and associated trailer.
- The Carver Pump engagement progressed through the successful advancement and production of titanium impeller prototypes for customer evaluation.
- Development of titanium track pins continued, including design iteration, manufacturing-process development and component production for a demanding repeat-use component application.
- Customer activity during the quarter remained focused on prototype production, product development, qualification testing and low-rate initial production across defense, aerospace, automotive, consumer electronics and industrial markets.
- IperionX’s customer pipeline is increasingly demonstrating a repeatable progression from material validation to component-level testing, prototype purchase orders and funded manufacturing scale-up. This broadening portfolio provides multiple pathways to convert the Virginia platform into recurring, higher-value product revenue as qualification milestones are achieved.
Atlas-Titan Critical Minerals Development
- The U.S. Government-supported Titan Definitive Feasibility Study was completed in June, delivering an after-tax NPV8 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 entered into a US$3 million agreement in June to acquire critical mineral property and infrastructure assets adjacent to Titan, with the strategic Atlas acquisition completed subsequent to quarter end on July 1, 2026.
- Atlas adds approximately 70 acres of at-surface critical-mineral stockpiles, approximately 180 acres of pre-stripped Lower McNairy mineralization and established power, water, natural gas and heavy-haul rail infrastructure. IperionX is advancing resource definition, metallurgy, commercial qualification and an integrated Atlas-Titan economic assessment, targeted by the end of 2026 to quantify potential capital and schedule benefits.
U.S. Department of War (DoW) programs
- The U.S. Government-supported 1,400 tpa expansion pathway continued to progress under the fully obligated US$47.1 million IBAS award, alongside the earlier US$12.7 million DPA Title III award.
- Strong U.S. Government support also includes approximately 290 metric tons of titanium scrap transferred at no cost and the SBIR Phase III IDIQ contracting pathway of up to US$99 million.
Corporate and liquidity
- IperionX ended the quarter with US$35.2 million in cash. The quarter included continued investment in Virginia production ramp, product development and GenX™ R&D.
- On July 7, 2026, IperionX priced an underwritten U.S. public offering of 2,275,000 ADSs at US$21.98 per ADS for gross proceeds of approximately US$50 million.
- In addition to quarter-end cash, IperionX had US$37.1 million of remaining obligated reimbursable U.S. Government funding at June 30, 2026, including US$2.9 million of eligible U.S. Government program expenditure already incurred but not yet reimbursed. A US$2.4 million reimbursement under the DPA Title III program, which was previously forecast to be received in the June quarter, was received immediately subsequent to the quarter’s end.
- As a result, IperionX’s pro-forma cash upon receipt of funds under the U.S. public offering (net of costs) and the DPA Title III program reimbursement is ~US$84 million.
- Throughout March and April 2026, directors and officers acquired IperionX securities for aggregate consideration of approximately US$4.3 million. In July, directors further increased ownership through on-market purchases of IperionX securities for aggregate consideration of approximately US$1.9 million. The continued investment by directors and officers reinforces alignment with shareholders as IperionX advances its U.S. titanium and critical minerals strategy.
A link to the full release can be found here.
Contacts
Anastasios (Taso) Arima, Founder and CEO
Toby Symonds, President
Dominic Allen, Chief Commercial Officer
Investors: investorrelations@iperionx.com
Media: media@iperionx.com
+1 980 237 8900
www.iperionx.com
