An interesting document on IperionX was published via the IDA.
It is the minutes of the 1st meeting for the award of a multi-million bond to IperionX.
The meeting took place on 18.03.2025 and the proposal was unanimously accepted!
https://www.halifaxcountyva.gov/AgendaCenter/ViewFile/Minutes/_03182025-585COO Scott Sparks was on site and answered many questions about the current status and further plans during the hearing.
- The first phase (approx. 150 tons of production) will be completed at the end of May 2025
- IPX has now shifted its focus from powder production for 3D printers to the manufacture of titanium parts.
- A bond of $100-150 million (expansion to up to $400 million) for further expansion is in prospect, the final decision on this is to be made in autumn 2025
- The original schedule of 4 years for the expansion to 2,000 tons is to be drastically shortened (if I read it correctly to the end of this year, as a cooperation with the Department of Defense is being entered into) - The number of employees will be increased to 60
- The building size is to be tripled for further expansion (presumably towards 10,000 tons)
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Increasing production to 2,000 tons this year already sounds very ambitious to me, but the quarterly report already indicated that the production capacity of the auxiliary plants already exceeds the production of the first phase. So it may just be a matter of installing more furnaces to achieve higher production.
At a sales price of 250$/kg, IPX could already achieve a turnover of 500 million $ per year with a production of 2,000,000kg.
If another $400m is really released as a bond in the autumn, we could see the target production of 10,000 tons in 2030 stated by Taso much earlier.
I think we are sitting on a sleeping giant here and I will continue to add in the coming weeks.
Greetings,
miningfox
(20min delay)