IperionX Targets Run-Rate Production Capacity of Around 200 Tonnes Per Year of Titanium Powder by 2026-End
IperionX (ASX:IPX) continues to target a run-rate production capacity of around 200 tonnes per year of titanium powder by the end of the year, subject to completion of ramp-up and operating optimization activities, according to a Thursday Australian bourse filing.The company's Virginia titanium powder production operations continued on a 24/7 production schedule during the June quarter, focused on supporting customer qualification, engineered product programs and direct powder requirements, per the filing. Production volumes during the quarter were temporarily reduced by furnace downtime and maintenance.IperionX said its 300-ton, six-axis Sacmi powder metallurgy press successfully completed site acceptance and commissioning in May in Virginia. The first of two additional HSPT sintering furnaces has arrived and is being installed and commissioned.The company ended the quarter with $35.2 million in cash.The company's shares fell 6% in recent Thursday trade, hitting a 52-week low.