By Matt Bell
IperionX has rallied more than 7 per cent at the open on Friday to take total gains in the past five sessions to exceed 15 per cent after the company received an order from American Rheinmetall to produce lightweight titanium components for US Army heavy ground combat vehicles.
Wilson Asset Management deputy portfolio manager Shaun Weick said the deal was likely to pave the way for further contracts.
“IperionX continues to have good momentum with the award of another titanium prototype to the US Army. Given the breadth of opportunities currently in this phase, we think there is potential for material contract awards in the coming months,” he said. “The strategic value of the US-based Titan mine remains, in our view, underappreciated by the market, and value unlock is a key catalyst going forward.”
Shares in the company were last up 7.5 per cent at 10.40am AEDT.
Licensed by Copyright Agency. You must not copy this work without permission.
