IperionX Limited Strengthens Growth with Public Offering and Camden Acquisition

IperionX Limited (ASX: IPX)

IperionX Limited (ASX: IPX), on 8 July 2026, announced the pricing of an underwritten public offering of 2.275 million American Depositary Shares with each ADS representing 10 ordinary shares. The price for each American Depositary Share is US$21.98. The offering is expected to generate approximately US$50 million in gross proceeds, before underwriting discounts, commissions and other offering related expenses. 

The investor presentation highlighted the strong economics of the Titan DFS, including an after-tax NPV of US$813 million, 39.4% IRR, life-of-mine EBITDA of US$2.8 billion, and free cash flow of US$1.9 billion. The presentation also outlined a development CAPEX of US$381 million.

On 2 July 2026, the company announced the completion of its strategic Camden acquisition, strengthening its access to ultra-high-grade critical minerals and supporting the acceleration of  U.S. supply chain. IperionX successfully completed the acquisition of the Camden critical mineral, heavy rare earths, and infrastructure assets. The acquisition is highly synergistic with the adjacent Titan Project in Tennessee and it materially consolidates and expands IperionX's landholding across the Big Sandy Critical Minerals Province.

Decades of historical high-purity silica sand operations have effectively pre-processed the heavy critical mineral fractions, resulting in approximately 70 acres of at-surface, ultra-high-grade critical mineral stockpiles enriched in titanium, zircon, and high-value rare earth minerals.

Grab samples from the surface stockpiles returned Total Heavy Minerals (THM) grades of up to 21.5%. Previous 1-ton bulk samples yielded 9.9% and 23.0% THM, representing a 5x to 10x uplift compared with the Titan Project's average Mineral Resource grade.

Historical silica operations at Camden pre-stripped approximately 180 acres of overburden, providing rapid, near zero-strip-ratio access to the Lower McNairy mineralization, which has been proven by drilling at Titan to contain the highest grade and richest assemblage of high-value heavy rare earth, titanium and zircon minerals.

Outlook:

The proceeds from the public offering will be used to support the continued commercialization and scale-up of the company’s titanium and metal alloy production technologies, including the expansion of its Titanium Manufacturing Campus in Virginia, associated titanium research and development activities, the continued development of the Camden-Titan Project in Tennessee, and general corporate purposes. IperionX is advancing an accelerated work program focused on sonic drilling of stockpiles, advanced metallurgical test work, infrastructure optimization, and an integrated Camden-Titan techno-economic study targeted for completion by the end of 2026.

(Source: Company Announcements)