IPERIONX Ltd
IPX · Miscellaneous Metal Ores · EDGAR filings ↗
Grade
D52Pre-commercial titanium metals/critical-minerals company ramping production with deep losses and going-concern-adjacent reliance on capital markets.
Strengths
- Solid cash position (73rd pct), very low debt-to-equity (0.04) and strong current ratio (~7.0)
- Commissioned HAMR furnace and commenced commercial-scale titanium production with federal funding support
Risks
- Net loss of $35.3M with ROA -34% and ROE -38% (both ~23rd pct); ~5.7 quarters runway and large negative FCF
- Dependence on continued equity/federal funding; key TPF assets titled to the U.S. government until 2027
- No reserves and unproven commercial scale-up of titanium technology
Notable findings
- Cash burnNegative free cash flow (-38.8M)
Key metrics
Return on equity
-38.2%
Return on assets
-33.7%
Debt / equity
0.0×
Current ratio
7.0×
Free cash flow
-$39M
Tangible book value
$92M
Cash & investments
$55M
Cash runway
6q
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2025-10-14 | 2025-06-30 | 0001898601-25-000013 ↗ |
| 20-F | 2024-10-30 | 2024-06-30 | 0001140361-24-044628 ↗ |
| 20-F | 2023-09-18 | 2023-06-30 | 0001140361-23-044258 ↗ |
| 20-F | 2022-08-26 | 2022-06-30 | 0001140361-22-030925 ↗ |