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IperionX Secures US Army Task Order With Potential Value of More Than $25 Million; Shares Down 4%

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IperionX (ASX:IPX) secured a second US Army task order under its $99 million Small Business Innovation Research phase three contract for low-cost, domestic titanium for defense applications, according to a Monday filing with the Australian bourse.

The task order has a potential value of up to $25.4 million, with $11.5 million obligated, per the filing.

The current funding fully covers three priority industrialization work packages while providing an initial allotment to a fourth, the company said.

It added that $79.2 million remains available under the overall phase three contract ceiling.

The company's shares fell 4% in recent Monday trade.

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