IperionX Secures $300,000 Prototype Purchase Order From US Defense Industry Supplier; Shares Up 4%
MT Newswires Live
Jan 22
IperionX (ASX:IPX) secured a $300,000 prototype purchase order from defense industry supplier American Rheinmetall for the production of 700 titanium track pins for US Army heavy ground combat systems, according to a Thursday filing with the Australian bourse.
The components will be made in the US using recycled titanium feedstock produced through the company's hydrogen-assisted metallothermic reduction and hydrogen sintering and phase transformation technologies, the filing said.
The order is expected to be delivered within eight to nine months, per the filing.
Shares rose nearly 4% in morning trade on Thursday.
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