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Name | Symbol | Market | Type |
---|---|---|---|
IperionX Ltd | NASDAQ:IPX | NASDAQ | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 15.65 | 14.50 | 17.23 | 0 | 01:00:00 |
Exhibit
|
Description
|
|
Interim Financial Report for the Six Months Ended December 31, 2022
|
||
101.INS
|
Inline XBRL Instance Document.
|
|
101.SCH
|
Inline XBRL Taxonomy Extension Schema Document.
|
|
101.CAL
|
Inline XBRL Taxonomy Extension Calculation Linkbase Document.
|
|
101.DEF
|
Inline XBRL Taxonomy Extension Definition Linkbase Document.
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|
101.LAB
|
Inline XBRL Taxonomy Extension Label Linkbase Document.
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|
101.PRE
|
Inline XBRL Taxonomy Extension Presentation Linkbase Document.
|
|
104
|
Cover Page Interactive Data File (embedded within the Inline XBRL document)
|
IPERIONX LIMITED
|
||
(registrant)
|
||
Date: July 28, 2023
|
By:
|
/s/ Gregory Swan |
Name:
|
Gregory Swan | |
Title:
|
Chief Financial Officer |
North Carolina
|
Tennessee
|
Virginia
|
Utah
|
129 W Trade Street, Suite 1405
Charlotte, NC 28202
|
279 West Main Street
Camden, TN 38320
|
1030 Confroy Drive
South Boston, VA 24592
|
1782 W 2300 S
West Valley City, UT 84119
|
Corporate Directory
|
|
DIRECTORS
Mr. Todd Hannigan – Executive Chairman
Mr. Anastasios Arima – CEO & Managing Director
Ms. Lorraine Martin – Independent Non-Executive Director
Mr. Vaughn Taylor – Independent Non-Executive Director
Ms. Melissa Waller – Independent Non-Executive Director
Ms. Beverly Wyse – Independent Non-Executive Director
COMPANY SECRETARY
Mr Gregory Swan
OFFICES
North Carolina
129 W Trade Street, Suite 1405
Charlotte, NC 28202, UNITED STATES
Tennessee
279 West Main Street
Camden, TN 38320, UNITED STATES
Virginia
1030 Confroy Drive
South Boston, VA 24592, UNITED STATES
Utah
1782 W 2300 S
West Valley City, UT 84119, UNITED STATES
Registered office
28 The Esplanade, Level 9
Perth, WA 6000, AUSTRALIA
|
WEBSITE
www.iperionx.com
STOCK EXCHANGE LISTINGS
Nasdaq Capital Market:
American depositary shares (NASDAQ: IPX)
Australian Securities Exchange:
Fully paid ordinary shares (ASX: IPX)
SHARE REGISTRY
Automic Pty Ltd
T: 1300 288 664 (within Australia)
T: +61 2 9698 5414 (international)
LAWYERS
United States
Gibson, Dunn & Crutcher
Johnston Allison & Hord
Australia
Thomson Geer Lawyers
AUDITOR
PricewaterhouseCoopers
|
CONTENTS
|
|
Page
|
|
Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income
|
1
|
Condensed Consolidated Statement of Financial Position
|
2
|
Condensed Consolidated Statement of Changes in Equity
|
3
|
Condensed Consolidated Statement of Cash Flows
|
4
|
Notes to the Condensed Consolidated Financial Statements
|
5
|
Condensed Consolidated Statement of Profit or Loss and Other
Comprehensive Income
FOR THE SIX MONTHS ENDED DECEMBER 31, 2022
|
|
Note |
Six Months Ended
December 31, 2022
US$
|
Six Months Ended
December 31, 2021
US$
|
||||||
Continuing operations
|
||||||||
Exploration and evaluation expenses
|
(
|
)
|
(
|
)
|
||||
Research and development costs
|
(
|
)
|
(
|
)
|
||||
Corporate and administrative expenses
|
(
|
)
|
(
|
)
|
||||
Business development expenses
|
(
|
)
|
(
|
)
|
||||
Share-based payment expense
|
(
|
)
|
(
|
)
|
||||
Finance income
|
|
|
||||||
Finance costs
|
(
|
)
|
(
|
)
|
||||
Other income and expenses
|
(
|
)
|
|
|||||
Loss before income tax
|
(
|
)
|
(
|
)
|
||||
Income tax expense
|
|
|
||||||
Loss for the period
|
(
|
)
|
(
|
)
|
||||
Loss attributable to members of IperionX Limited
|
(
|
)
|
(
|
)
|
||||
Other comprehensive income
|
||||||||
Items that may be reclassified subsequently to profit or loss:
|
||||||||
Exchange differences arising on translation of foreign operations
|
(
|
)
|
(
|
)
|
||||
Other comprehensive loss for the period, net of tax
|
(
|
)
|
(
|
)
|
||||
Total comprehensive loss for the period
|
(
|
)
|
(
|
)
|
||||
Total comprehensive loss attributable to members of IperionX Limited
|
(
|
)
|
(
|
)
|
||||
Loss per share
|
||||||||
Basic and diluted loss per share (US$ per share)
|
(
|
)
|
(
|
)
|
Condensed Consolidated Statement of Financial Position
AS AT DECEMBER 31, 2022
|
|
Note
|
December 31, 2022
US$
|
June 30, 2022
US$
|
||||||||||
ASSETS
|
||||||||||||
Current Assets
|
||||||||||||
Cash and cash equivalents
|
|
|
||||||||||
Trade and other receivables
|
|
|
||||||||||
Prepayments
|
|
|
||||||||||
Total Current Assets
|
|
|
||||||||||
Non-Current Assets
|
||||||||||||
Exploration and evaluation assets
|
4
|
|
|
|||||||||
Property, plant and equipment
|
5
|
|
|
|||||||||
Financial assets
|
|
|
||||||||||
Total Non-Current Assets
|
|
|
||||||||||
TOTAL ASSETS
|
|
|
||||||||||
LIABILITIES
|
||||||||||||
Current Liabilities
|
||||||||||||
Trade and other payables
|
6
|
|
|
|||||||||
Loans and borrowings
|
7
|
|
|
|||||||||
Provisions
|
|
|
||||||||||
Total Current Liabilities
|
|
|
||||||||||
Non-Current Liabilities
|
||||||||||||
Loans and borrowings
|
7
|
|
|
|||||||||
Total Non-Current Liabilities
|
|
|
||||||||||
TOTAL LIABILITIES
|
|
|
||||||||||
NET ASSETS
|
|
|
||||||||||
EQUITY
|
||||||||||||
Contributed equity
|
8
|
|
|
|||||||||
Reserves
|
9
|
|
|
|||||||||
Accumulated losses
|
(
|
)
|
(
|
)
|
||||||||
TOTAL EQUITY
|
|
|
Condensed Consolidated Statement of Changes in Equity
FOR THE SIX MONTHS ENDED DECEMBER 31, 2022
|
|
Contributed
Equity
US$
|
Share- Based
Payments
Reserve
US$
|
Foreign
Currency
Translation
Reserve
US$
|
Accumulated
Losses US$
|
Total
Equity
US$
|
||||||||||||||||
Balance at July 1, 2022
|
|
|
(
|
)
|
(
|
)
|
|
|||||||||||||
Net loss for the period
|
|
|
|
(
|
)
|
(
|
)
|
|||||||||||||
Exchange differences arising on translation of foreign operations
|
|
|
(
|
)
|
|
(
|
)
|
|||||||||||||
Total comprehensive loss
|
|
|
(
|
)
|
(
|
)
|
(
|
)
|
||||||||||||
Issue of shares - share placement
|
|
|
|
|
|
|||||||||||||||
Issue of shares - exercise of options
|
|
(
|
)
|
|
|
|
||||||||||||||
Issue of shares - conversion of RSUs
|
|
(
|
)
|
|
|
|
||||||||||||||
Share issue costs
|
(
|
)
|
|
|
|
(
|
)
|
|||||||||||||
Share-based payment expense
|
|
|
|
|
|
|||||||||||||||
Balance at December 31, 2022
|
|
|
(
|
)
|
(
|
)
|
|
|||||||||||||
Balance at July 1, 2021
|
|
|
(
|
)
|
(
|
)
|
|
|||||||||||||
Net loss for the period
|
|
|
|
(
|
)
|
(
|
)
|
|||||||||||||
Exchange differences arising on translation of foreign operations
|
|
|
(
|
)
|
|
(
|
)
|
|||||||||||||
Total comprehensive loss
|
|
|
(
|
)
|
(
|
)
|
(
|
)
|
||||||||||||
Issue of shares - share placement
|
|
|
|
|
|
|||||||||||||||
Issue of shares - exercise of options
|
|
(
|
)
|
|
|
|
||||||||||||||
Share issue costs
|
(
|
)
|
|
|
|
(
|
)
|
|||||||||||||
Share-based payment expense
|
|
|
|
|
|
|||||||||||||||
Balance at December 31, 2021
|
|
|
(
|
)
|
(
|
)
|
|
Condensed Consolidated Statement of Cash Flows
FOR THE SIX MONTHS ENDED DECEMBER 31, 2022
|
|
Note
|
Six Months Ended
December 31, 2022
US$
|
Six Months Ended
December 31, 2021
US$
|
||||||||||
Cash flows from operating activities
|
||||||||||||
Payments to suppliers and employees
|
(
|
)
|
(
|
)
|
||||||||
Interest received
|
|
|
||||||||||
Interest paid
|
(
|
)
|
(
|
)
|
||||||||
Net cash flows used in operating activities
|
(
|
)
|
(
|
)
|
||||||||
Cash flows from investing activities
|
||||||||||||
Purchase of exploration and evaluation assets
|
4
|
(
|
)
|
(
|
)
|
|||||||
Purchase of property, plant and equipment
|
5
|
(
|
)
|
(
|
)
|
|||||||
Purchase of financial assets
|
|
(
|
)
|
|||||||||
Net cash flows used in investing activities
|
(
|
)
|
(
|
)
|
||||||||
Cash flows from financing activities
|
||||||||||||
Proceeds from issue of shares
|
|
|
||||||||||
Share issue costs
|
(
|
)
|
(
|
)
|
||||||||
Repayment of borrowings
|
(
|
)
|
|
|||||||||
Payment of principal portion of lease liabilities
|
(
|
)
|
(
|
)
|
||||||||
Net cash flows from financing activities
|
|
|
||||||||||
Net increase in cash and cash equivalents
|
|
|
||||||||||
Net foreign exchange differences
|
|
(
|
)
|
|||||||||
Cash and cash equivalents at the beginning of the period
|
|
|
||||||||||
Cash and cash equivalents at the end of the period
|
|
|
Notes to the Condensed Consolidated Financial Statements
FOR THE SIX MONTHS ENDED DECEMBER 31, 2022
|
|
Titan
Project
US$
|
||||
December 31, 2022
|
||||
Carrying value at July 1, 2022
|
|
|||
Additions
|
|
|||
Carrying amount at December 31, 2022 (1)
|
|
|||
June 30, 2022
|
||||
Carrying value at July 1, 2021
|
|
|||
Additions
|
|
|||
Carrying amount at June 30, 2022 (1)
|
|
(1)
|
|
Plant and equipment
US$
|
Right-of-use assets
US$
|
Total
US$
|
||||||||||
December 31, 2022
|
||||||||||||
Carrying value at July 1, 2022
|
|
|
|
|||||||||
Additions
|
|
|
|
|||||||||
Depreciation
|
(
|
)
|
(
|
)
|
(
|
)
|
||||||
Carrying amount at December 31, 2022
|
|
|
|
|||||||||
- at cost
|
|
|
|
|||||||||
- accumulated depreciation
|
(
|
)
|
(
|
)
|
(
|
)
|
||||||
June 30, 2022
|
||||||||||||
Carrying value at July 1, 2021
|
|
|
|
|||||||||
Additions
|
|
|
|
|||||||||
Lease modifications
|
|
(
|
)
|
(
|
)
|
|||||||
Depreciation
|
(
|
)
|
(
|
)
|
(
|
)
|
||||||
Carrying amount at June 30, 2022
|
|
|
|
|||||||||
- at cost
|
|
|
|
|||||||||
- accumulated depreciation
|
(
|
)
|
(
|
)
|
(
|
)
|
December 31, 2022
US$
|
June 30, 2022
US$
|
|||||||
Current
|
||||||||
Trade payables
|
|
|
||||||
Accruals
|
|
|
||||||
Employee benefits
|
|
|
||||||
Total trade and other payables
|
|
|
December 31, 2022
US$
|
June 30, 2022
US$
|
|||||||
Current
|
||||||||
Lease liabilities
|
|
|
||||||
Other loans and borrowings
|
|
|
||||||
Total current loans and borrowings
|
|
|
||||||
Non-current
|
||||||||
Lease liabilities
|
|
|
||||||
Other loans and borrowings
|
|
|
||||||
Total non-current loans and borrowings
|
|
|
||||||
Total loans and borrowings
|
|
|
December 31, 2022
US$
|
June 30, 2022
US$
|
|||||||
|
|
|
||||||
|
|
No. of
Ordinary
Shares
|
No. of Class A Performance Shares
|
No. of Class B Performance Shares
|
US$
|
|||||||||||||
December 31, 2022
|
||||||||||||||||
Opening balance at July 1, 2022
|
|
|
|
|
||||||||||||
Issue of shares - share placement
|
|
|
|
|
||||||||||||
Issue of shares - exercise of options
|
|
|
|
|
||||||||||||
Conversion of RSUs
|
|
|
|
|
||||||||||||
Share issue costs
|
-
|
-
|
-
|
(
|
)
|
|||||||||||
Closing balance at December 31, 2022
|
|
|
|
|
||||||||||||
December 31, 2021
|
||||||||||||||||
Opening balance at July 1, 2021
|
|
|
|
|
||||||||||||
Issue of shares - share placement
|
|
|
|
|
||||||||||||
Issue of shares - exercise of options
|
|
|
|
|
||||||||||||
Share issue costs
|
-
|
-
|
-
|
(
|
)
|
|||||||||||
Closing balance at December 31, 2021
|
|
|
|
|
December 31, 2022
US$
|
June 30, 2022
US$
|
|||||||
Share based payments reserve
|
|
|
||||||
Foreign currency translation reserve
|
(
|
)
|
(
|
)
|
||||
Total reserves
|
|
|
No. of
Listed
Options
|
No. of
Unlisted
Options
|
No. of Performance Rights
|
No. of
RSUs
|
US$
|
||||||||||||||||
December 31, 2022
|
||||||||||||||||||||
Opening balance at July 1, 2022
|
|
|
|
|
|
|||||||||||||||
Grant of employee incentive securities
|
|
|
|
|
|
|||||||||||||||
Exercise of options
|
|
(
|
)
|
-
|
-
|
(
|
)
|
|||||||||||||
Conversion of RSUs
|
-
|
-
|
|
(
|
)
|
(
|
)
|
|||||||||||||
Grant of options to advisor
|
|
|
-
|
-
|
|
|||||||||||||||
Share-based payments expense
|
-
|
-
|
-
|
-
|
||||||||||||||||
Closing balance at December 31, 2022
|
|
|
|
|
|
|||||||||||||||
December 31, 2021
|
||||||||||||||||||||
Opening balance at July 1, 2021
|
|
|
|
|
|
|||||||||||||||
Grant of employee incentive securities
|
|
|
|
|
|
|||||||||||||||
Exercise of options
|
(
|
)
|
(
|
)
|
-
|
-
|
(
|
)
|
||||||||||||
Expiry of options
|
(
|
)
|
|
-
|
-
|
|
||||||||||||||
Share-based payments expense
|
-
|
-
|
-
|
-
|
|
|||||||||||||||
Closing balance at December 31, 2021
|
|
|
|
|
|
Equity Interest
|
|||||||||
Country of
Incorporation
|
December 31, 2022
%
|
June 30, 2022
%
|
|||||||
IperionX Inc.
|
|
|
%
|
|
%
|
||||
IperionX Critical Minerals, LLC
|
|
|
%
|
|
%
|
||||
IperionX Technology, LLC
|
|
|
%
|
|
%
|
||||
Hyperion Metals (Australia) Pty Ltd
|
|
|
%
|
|
%
|
||||
Calatos Pty Ltd, LLC
|
|
|
%
|
|
%
|
(a)
|
On January 18, 2023, IperionX announced that it was the winner of the U.S. Department of Defense’s National Security Innovation Network (“NSIN”) Air Force Research Laboratory
(“AFRL”) Grand Challenge contract. The winner of the Grand Challenge is eligible for a contract award up to US$
|
Document and Entity Information |
6 Months Ended |
---|---|
Dec. 31, 2022 | |
Cover [Abstract] | |
Entity Registrant Name | IPERIONX Ltd |
Entity Central Index Key | 0001898601 |
Current Fiscal Year End Date | --06-30 |
Document Type | 6-K |
Amendment Flag | false |
Document Period End Date | Dec. 31, 2022 |
Condensed Consolidated Statement of Financial Position - USD ($) |
Dec. 31, 2022 |
Jun. 30, 2022 |
---|---|---|
Current Assets | ||
Cash and cash equivalents | $ 11,438,526 | $ 5,672,551 |
Trade and other receivables | 84,477 | 22,540 |
Prepayments | 255,149 | 144,183 |
Total Current Assets | 11,778,152 | 5,839,274 |
Non-Current Assets | ||
Exploration and evaluation assets | 2,849,429 | 2,431,229 |
Property, plant and equipment | 3,369,099 | 1,387,986 |
Financial assets | 0 | 250,000 |
Total Non-Current Assets | 6,218,528 | 4,069,215 |
TOTAL ASSETS | 17,996,680 | 9,908,489 |
Current Liabilities | ||
Trade and other payables | 1,468,271 | 1,899,348 |
Loans and borrowings | 363,860 | 134,247 |
Provisions | 0 | 46,392 |
Total Current Liabilities | 1,832,131 | 2,079,987 |
Non-Current Liabilities | ||
Loans and borrowings | 788,591 | 408,783 |
Total Non-Current Liabilities | 788,591 | 408,783 |
TOTAL LIABILITIES | 2,620,722 | 2,488,770 |
NET ASSETS | 15,375,958 | 7,419,719 |
EQUITY | ||
Contributed equity | 44,914,632 | 29,782,268 |
Reserves | 13,967,477 | 12,389,525 |
Accumulated losses | (43,506,151) | (34,752,074) |
TOTAL EQUITY | $ 15,375,958 | $ 7,419,719 |
Condensed Consolidated Statement of Changes in Equity - USD ($) |
Total |
Contributed Equity [Member] |
Share-Based Payments Reserve [Member] |
Foreign Currency Translation Reserve [Member] |
Accumulated Losses [Member] |
---|---|---|---|---|---|
Beginning balance at Jun. 30, 2021 | $ 1,760,120 | $ 10,255,369 | $ 4,738,007 | $ (2,419) | $ (13,230,837) |
Changes in equity | |||||
Net loss for the period | (10,562,155) | 0 | 0 | 0 | (10,562,155) |
Exchange differences arising on translation of foreign operations | (232,068) | 0 | 0 | (232,068) | 0 |
Total comprehensive loss for the period | (10,794,223) | 0 | 0 | (232,068) | (10,562,155) |
Issue of shares - share placement | 17,604,000 | 17,604,000 | 0 | 0 | 0 |
Issue of shares - exercise of options | 2,146,737 | 2,239,216 | (92,479) | 0 | 0 |
Share issue costs | (428,812) | (428,812) | 0 | 0 | 0 |
Share-based payment expense | 4,764,135 | 0 | 4,764,135 | 0 | 0 |
Ending balance at Dec. 31, 2021 | 15,051,957 | 29,669,773 | 9,409,663 | (234,487) | (23,792,992) |
Beginning balance at Jun. 30, 2022 | 7,419,719 | 29,782,268 | 12,985,856 | (596,331) | (34,752,074) |
Changes in equity | |||||
Net loss for the period | (8,754,077) | 0 | 0 | 0 | (8,754,077) |
Exchange differences arising on translation of foreign operations | (102,645) | 0 | 0 | (102,645) | 0 |
Total comprehensive loss for the period | (8,856,722) | 0 | 0 | (102,645) | (8,754,077) |
Issue of shares - share placement | 16,117,800 | 16,117,800 | 0 | 0 | 0 |
Issue of shares - exercise of options | 121,270 | 194,205 | (72,935) | 0 | 0 |
Issue of shares - conversion of RSUs | 0 | 167,487 | (167,487) | 0 | 0 |
Share issue costs | (992,340) | (1,347,128) | 354,788 | 0 | 0 |
Share-based payment expense | 1,566,231 | 0 | 1,566,231 | 0 | 0 |
Ending balance at Dec. 31, 2022 | $ 15,375,958 | $ 44,914,632 | $ 14,666,453 | $ (698,976) | $ (43,506,151) |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
6 Months Ended |
---|---|
Dec. 31, 2022 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Corporate information
IperionX Limited (“IperionX” or “Company”) is a for-profit company limited by shares, incorporated and domiciled in Australia. Our registered
office is located at Level 9, 28 The Esplanade, Perth, Western Australia, 6000. Our ordinary shares are listed on the Australian Securities Exchange, or ASX, under the symbol “IPX”, and our American Depository Shares, or ADSs, each representing ten (10) of our ordinary shares, are
listed on the Nasdaq Capital Market, or Nasdaq, under the symbol “IPX”.
The principal activities of the Group during the six months ended December 31, 2022 consisted of the exploration and development of minerals and
metals in the United States.
The unaudited interim condensed consolidated financial statements of IperionX and its subsidiaries (the “Consolidated Entity” or the “Group”)
for the six months ended December 31, 2022 (the “Interim Financial Statements”) were authorised for issue in accordance with a resolution of the Directors on March 14, 2023.
Basis of preparation
The Interim Financial Statements have been prepared in accordance with International Accounting Standard 34 Interim
Financial Reporting issued by the International Accounting Standard Board (“IASB”). The preparation of the Interim Financial Statements requires management to make judgements, estimates and
assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses on a year-to-date basis. Actual results may differ from those estimates.
The Interim Financial Statements do not include all the notes of the type normally included in annual financial statements and are not
necessarily indicative of the results of operations and cash flows expected for the year ended June 30, 2023. Accordingly, the Interim Financial Statements are to be read in conjunction with the annual consolidated financial statements of the
Group for the year ended June 30, 2022. In the opinion of management, the accompanying Interim Financial Statements reflect all adjustments consisting only of normal recurring adjustments, which are necessary for a fair presentation of the
financial results of such period. The financial report has been prepared on a historical cost basis and is presented in United States dollars ($).
The accounting policies and methods of computation adopted in the preparation of the Interim Financial Statements are consistent with those
adopted and disclosed in the annual consolidated financial statements of the Group for the year ended June 30, 2022, except as disclosed below. These accounting policies are consistent with Australian Accounting Standards.
Going concern
The interim financial statements have been prepared on the going concern basis, which contemplates the continuity of normal business activity
and the realization of assets and the settlement of liabilities in the normal course of business.
The Group had net cash outflows from operating and investing activities of US$9,188,863 for the six months ended December 31, 2022 (December 31, 2021: US$6,645,809).
At December 31, 2022, the Group had cash and cash equivalents of US$11,438,526 (December 31, 2021: US$14,256,359).
The ongoing operation of the Group remains dependent upon raising further additional funding from shareholders or other parties. In light of the
future expenditures to be incurred in executing on the Group’s current strategic plans to commercialize the Group’s titanium metal technologies and develop economically recoverable mineral deposits from the Group’s exploration properties, the
Group is dependent on obtaining financing through equity financing, debt financing or other means. In the longer term, if the Group’s exploration, appraisal, and pilot activities are ultimately successful, additional funds will be required to
develop the Group’s titanium metal technologies and exploration properties and commence commercial production. The ability to arrange such funding in the future will depend in part upon the prevailing capital market conditions as well as the
business performance of the Group. There is no assurance that the Group will be successful in its efforts to raise additional funding on terms satisfactory to the Group. If the Group does not obtain additional funding, the Group may be required
to delay, reduce the scope of, or eliminate its current or future exploration, appraisal, and pilot activities or relinquish rights to certain of its interests.
As a result of these matters, there is a material uncertainty that may cast substantial doubt about the Group’s ability to continue as a going
concern and therefore the Group may be unable to realize its assets and discharge its liabilities in the normal course of business. However, the Directors are confident that the Group will be able to raise additional funds as required to meet
its obligations as and when they fall due and are of the opinion that the use of the going concern basis remains appropriate.
Comparative information
The Group has updated the classification of expenses to make the Statement of Profit or Loss and other Comprehensive Income more relevant to
users of the financial statements. This has resulted in the reclassification of some expenses in the prior period, however, has not impacted the reported loss for the prior period or earnings per share.
New and amended standards and interpretations
In the current period, the Group has adopted all of the new and revised standards, interpretations and amendments that are relevant to its
operations and effective for annual reporting periods beginning on or after July 1, 2022.
The new standards have not had a material effect on the Group’s financial statements.
The Group has not early adopted any other standard, interpretation or amendment that has been issued but is not yet effective.
|
SEGMENT INFORMATION |
6 Months Ended |
---|---|
Dec. 31, 2022 | |
SEGMENT INFORMATION [Abstract] | |
SEGMENT INFORMATION |
2. SEGMENT INFORMATION
IFRS 8 Operating Segments requires operating segments to be identified
on the basis of internal reports about components of the Consolidated Entity that are regularly reviewed by the chief operating decision maker in order to allocate resources to the segment and to assess its performance.
The Consolidated Entity operates in one
segment, being exploration and development of minerals and metals in the United States.
|
DIVIDENDS PAID OR PROVIDED FOR |
6 Months Ended |
---|---|
Dec. 31, 2022 | |
DIVIDENDS PAID OR PROVIDED FOR [Abstract] | |
DIVIDENDS PAID OR PROVIDED FOR |
3. DIVIDENDS PAID OR PROVIDED FOR ON ORDINARY SHARES
No dividend has been paid
or provided for during the six months ended December 31, 2022 (December 31, 2021:
). |
EXPLORATION AND EVALUATION ASSETS |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
EXPLORATION AND EVALUATION ASSETS [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
EXPLORATION AND EVALUATION ASSETS |
4. EXPLORATION AND EVALUATION ASSETS
Notes:
|
PROPERTY, PLANT AND EQUIPMENT |
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Dec. 31, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
PROPERTY, PLANT AND EQUIPMENT [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
PROPERTY, PLANT AND EQUIPMENT |
5. PROPERTY, PLANT AND EQUIPMENT
|
TRADE AND OTHER PAYABLES |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
TRADE AND OTHER PAYABLES [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
TRADE AND OTHER PAYABLES |
6. TRADE AND OTHER PAYABLES
|
LOANS AND BORROWINGS |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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LOANS AND BORROWINGS [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
LOANS AND BORROWINGS |
7. LOANS AND BORROWINGS
|
CONTRIBUTED EQUITY |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CONTRIBUTED EQUITY [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CONTRIBUTED EQUITY |
8. CONTRIBUTED EQUITY
Issued capital
Movements in issued capital
|
RESERVES |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
RESERVES [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
RESERVES |
9. RESERVES
Reserves
Movements in share based payments reserve
|
SUBSIDIARIES |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SUBSIDIARIES [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SUBSIDIARIES |
10. SUBSIDIARIES
|
CONTINGENT ASSETS AND LIABILITIES |
6 Months Ended |
---|---|
Dec. 31, 2022 | |
CONTINGENT ASSETS AND LIABILITIES [Abstract] | |
CONTINGENT ASSETS AND LIABILITIES |
11. CONTINGENT ASSETS AND LIABILITIES
Titan Project
At December 31, 2022, the Group had entered into exclusive option agreements with local landowners in Tennessee, United States, in relation to
its Titan Project, which upon exercise, allows the Group to lease or, in some cases purchase, approximately 11,071 acres of surface
property and the associated mineral rights from the local landowners. During the option period, our option agreements provide us with exclusive right to access, enter, occupy and use the surface property for all purposes related to exploring
for and evaluating all minerals in return for making annual option payments and bonus payments during periods when we conduct drilling. Upon exercise, in the case of an option to lease, the Company will pay a production royalty to the
landowners, subject to a minimum royalty. Upon exercise, in the case of a purchase, the Company will pay cash consideration approximating the fair market value of the property, excluding the value of any minerals, plus a premium.
Blacksand
At December 31, 2022, the Group had an exclusive option to purchase certain assets (including all intellectual property rights) of Blacksand
Technology, LLC (“Blacksand”). Blacksand holds the exclusive commercial licensing rights for more than 40 global patents through a
license agreement with the University of Utah including the global patents for patented technologies that can produce low-cost and low-carbon titanium metal. IperionX can exercise its option any time prior to 31 December 2024 (“Option Period”).
As consideration for the option, IperionX shall make option payments to Blacksand totalling US$6,000,000 during the Option Period
(US$1,500,000 payable in each of January 2023, July 2023, January 2024 and July 2024). If IperionX chooses to exercise its
option, IperionX shall pay Blacksand: (1) any option payments that have not been paid at the date of exercise; and (2) an additional US$6,000,000.
Subject to shareholder approval, IperionX may elect to satisfy 30% of the total purchase price through the issue of shares in
IperionX. IperionX shall also commit to donate US$1,000,000 to establish an endowed chair professorship at the University of Utah in
Dr. Fang’s name. If net sales from the acquired assets exceed US$300,000,000, then IperionX shall pay Blacksand a royalty equal to 0.5% of net sales in excess of US$300,000,000
for the life of the licensed patents. If IperionX chooses not to exercise its option, IperionX retains options to licence key technologies from Blacksand, including HAMR and GSD technologies that can produce low-cost and low-carbon titanium
metal, for consideration comprising a license fee and a royalty.
|
SUBSEQUENT EVENTS AFTER BALANCE DATE |
6 Months Ended | ||
---|---|---|---|
Dec. 31, 2022 | |||
SUBSEQUENT EVENTS AFTER BALANCE DATE [Abstract] | |||
SUBSEQUENT EVENTS AFTER BALANCE DATE [Text Block] |
12. SUBSEQUENT EVENTS AFTER BALANCE DATE
Other than as outlined above, at the date of this report there are no other significant events occurring after balance date requiring
disclosure.
|
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) |
6 Months Ended |
---|---|
Dec. 31, 2022 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract] | |
Corporate information |
Corporate information
IperionX Limited (“IperionX” or “Company”) is a for-profit company limited by shares, incorporated and domiciled in Australia. Our registered
office is located at Level 9, 28 The Esplanade, Perth, Western Australia, 6000. Our ordinary shares are listed on the Australian Securities Exchange, or ASX, under the symbol “IPX”, and our American Depository Shares, or ADSs, each representing ten (10) of our ordinary shares, are
listed on the Nasdaq Capital Market, or Nasdaq, under the symbol “IPX”.
The principal activities of the Group during the six months ended December 31, 2022 consisted of the exploration and development of minerals and
metals in the United States.
The unaudited interim condensed consolidated financial statements of IperionX and its subsidiaries (the “Consolidated Entity” or the “Group”)
for the six months ended December 31, 2022 (the “Interim Financial Statements”) were authorised for issue in accordance with a resolution of the Directors on March 14, 2023.
|
Basis of preparation |
Basis of preparation
The Interim Financial Statements have been prepared in accordance with International Accounting Standard 34 Interim
Financial Reporting issued by the International Accounting Standard Board (“IASB”). The preparation of the Interim Financial Statements requires management to make judgements, estimates and
assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses on a year-to-date basis. Actual results may differ from those estimates.
The Interim Financial Statements do not include all the notes of the type normally included in annual financial statements and are not
necessarily indicative of the results of operations and cash flows expected for the year ended June 30, 2023. Accordingly, the Interim Financial Statements are to be read in conjunction with the annual consolidated financial statements of the
Group for the year ended June 30, 2022. In the opinion of management, the accompanying Interim Financial Statements reflect all adjustments consisting only of normal recurring adjustments, which are necessary for a fair presentation of the
financial results of such period. The financial report has been prepared on a historical cost basis and is presented in United States dollars ($).
The accounting policies and methods of computation adopted in the preparation of the Interim Financial Statements are consistent with those
adopted and disclosed in the annual consolidated financial statements of the Group for the year ended June 30, 2022, except as disclosed below. These accounting policies are consistent with Australian Accounting Standards.
Going concern
The interim financial statements have been prepared on the going concern basis, which contemplates the continuity of normal business activity
and the realization of assets and the settlement of liabilities in the normal course of business.
The Group had net cash outflows from operating and investing activities of US$9,188,863 for the six months ended December 31, 2022 (December 31, 2021: US$6,645,809).
At December 31, 2022, the Group had cash and cash equivalents of US$11,438,526 (December 31, 2021: US$14,256,359).
The ongoing operation of the Group remains dependent upon raising further additional funding from shareholders or other parties. In light of the
future expenditures to be incurred in executing on the Group’s current strategic plans to commercialize the Group’s titanium metal technologies and develop economically recoverable mineral deposits from the Group’s exploration properties, the
Group is dependent on obtaining financing through equity financing, debt financing or other means. In the longer term, if the Group’s exploration, appraisal, and pilot activities are ultimately successful, additional funds will be required to
develop the Group’s titanium metal technologies and exploration properties and commence commercial production. The ability to arrange such funding in the future will depend in part upon the prevailing capital market conditions as well as the
business performance of the Group. There is no assurance that the Group will be successful in its efforts to raise additional funding on terms satisfactory to the Group. If the Group does not obtain additional funding, the Group may be required
to delay, reduce the scope of, or eliminate its current or future exploration, appraisal, and pilot activities or relinquish rights to certain of its interests.
As a result of these matters, there is a material uncertainty that may cast substantial doubt about the Group’s ability to continue as a going
concern and therefore the Group may be unable to realize its assets and discharge its liabilities in the normal course of business. However, the Directors are confident that the Group will be able to raise additional funds as required to meet
its obligations as and when they fall due and are of the opinion that the use of the going concern basis remains appropriate.
Comparative information
The Group has updated the classification of expenses to make the Statement of Profit or Loss and other Comprehensive Income more relevant to
users of the financial statements. This has resulted in the reclassification of some expenses in the prior period, however, has not impacted the reported loss for the prior period or earnings per share.
|
New and amended standards and interpretations |
New and amended standards and interpretations
In the current period, the Group has adopted all of the new and revised standards, interpretations and amendments that are relevant to its
operations and effective for annual reporting periods beginning on or after July 1, 2022.
The new standards have not had a material effect on the Group’s financial statements.
The Group has not early adopted any other standard, interpretation or amendment that has been issued but is not yet effective.
|
EXPLORATION AND EVALUATION ASSETS (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
EXPLORATION AND EVALUATION ASSETS [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Exploration and Evaluation Assets |
Notes:
|
PROPERTY, PLANT AND EQUIPMENT (Tables) |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
PROPERTY, PLANT AND EQUIPMENT [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Property, Plant and Equipment |
|
TRADE AND OTHER PAYABLES (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
TRADE AND OTHER PAYABLES [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Trade and Other Payables |
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LOANS AND BORROWINGS (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
LOANS AND BORROWINGS [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans and Borrowings |
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CONTRIBUTED EQUITY (Tables) |
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Dec. 31, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CONTRIBUTED EQUITY [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issued Capital |
Issued capital
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Movements in Issued Capital |
Movements in issued capital
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RESERVES (Tables) |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
RESERVES [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reserves |
Reserves
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Movements in Share-based Payments Reserve |
Movements in share based payments reserve
|
SUBSIDIARIES (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SUBSIDIARIES [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries |
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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Corporate information (Details) |
Dec. 31, 2022
shares
|
---|---|
Corporate information [Abstract] | |
Number of ordinary shares listed on each securities exchange (in shares) | 10 |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Basis of Preparation (Details) - USD ($) |
6 Months Ended | |||
---|---|---|---|---|
Dec. 31, 2022 |
Dec. 31, 2021 |
Jun. 30, 2022 |
Jun. 30, 2021 |
|
Basis of preparation [Abstract] | ||||
Net cash outflows from operating and investing activities | $ 9,188,863 | $ 6,645,809 | ||
Cash and cash equivalents | $ 11,438,526 | $ 14,256,359 | $ 5,672,551 | $ 1,697,905 |
SEGMENT INFORMATION (Details) |
6 Months Ended |
---|---|
Dec. 31, 2022
Segment
| |
SEGMENT INFORMATION [Abstract] | |
Number of operating segments | 1 |
DIVIDENDS PAID OR PROVIDED FOR (Details) - USD ($) |
6 Months Ended | |
---|---|---|
Dec. 31, 2022 |
Dec. 31, 2021 |
|
DIVIDENDS PAID OR PROVIDED FOR [Abstract] | ||
Dividends paid | $ 0 | $ 0 |
Dividends proposed | $ 0 | $ 0 |
EXPLORATION AND EVALUATION ASSETS (Details) - USD ($) |
6 Months Ended | 12 Months Ended | |||
---|---|---|---|---|---|
Dec. 31, 2022 |
Jun. 30, 2022 |
||||
Exploration And Evaluation Assets [Roll Forward] | |||||
Carrying amount, beginning balance | $ 2,431,229 | ||||
Carrying amount, ending balance | 2,849,429 | $ 2,431,229 | |||
Titan Project [Member] | |||||
Exploration And Evaluation Assets [Roll Forward] | |||||
Carrying amount, beginning balance | 2,431,229 | [1] | 504,750 | ||
Additions | 418,200 | 1,926,479 | |||
Carrying amount, ending balance | [1] | $ 2,849,429 | $ 2,431,229 | ||
|
TRADE AND OTHER PAYABLES (Details) - USD ($) |
Dec. 31, 2022 |
Jun. 30, 2022 |
---|---|---|
Current [Abstract] | ||
Trade payables | $ 357,937 | $ 1,677,757 |
Accruals | 395,508 | 196,450 |
Employee benefits | 714,826 | 25,141 |
Total trade and other current payables | $ 1,468,271 | $ 1,899,348 |
LOANS AND BORROWINGS (Details) - USD ($) |
Dec. 31, 2022 |
Jun. 30, 2022 |
---|---|---|
Current [Abstract] | ||
Lease liabilities | $ 358,112 | $ 128,653 |
Other loans and borrowings | 5,748 | 5,594 |
Total current loans and borrowings | 363,860 | 134,247 |
Non-current [Abstract] | ||
Lease liabilities | 760,633 | 377,920 |
Other loans and borrowings | 27,958 | 30,863 |
Total non-current loans and borrowings | 788,591 | 408,783 |
Total loans and borrowings | $ 1,152,451 | $ 543,030 |
CONTRIBUTED EQUITY, Issued Capital (Details) - USD ($) |
Dec. 31, 2022 |
Jun. 30, 2022 |
Dec. 31, 2021 |
Jun. 30, 2021 |
---|---|---|---|---|
Issued capital [abstract] | ||||
171,225,492 ordinary shares (June 30, 2022: 140,288,491) | $ 44,914,632 | $ 29,782,268 | ||
Contributed Equity [Member] | ||||
Issued capital [abstract] | ||||
171,225,492 ordinary shares (June 30, 2022: 140,288,491) | $ 44,914,632 | $ 29,782,268 | $ 29,669,773 | $ 10,255,369 |
Number of ordinary shares issued (in shares) | 171,225,492 | 140,288,491 |
RESERVES, Summary (Details) - USD ($) |
Dec. 31, 2022 |
Jun. 30, 2022 |
---|---|---|
RESERVES [Abstract] | ||
Share based payments reserve | $ 14,666,453 | $ 12,985,856 |
Foreign currency translation reserve | (698,976) | (596,331) |
Total Reserve | $ 13,967,477 | $ 12,389,525 |
SUBSIDIARIES (Details) |
6 Months Ended | 12 Months Ended |
---|---|---|
Dec. 31, 2022 |
Jun. 30, 2022 |
|
IperionX Inc. [Member] | ||
Subsidiaries [Abstract] | ||
Country of Incorporation | USA | |
Equity Interest | 100.00% | 100.00% |
IperionX Critical Minerals LLC [Member] | ||
Subsidiaries [Abstract] | ||
Country of Incorporation | USA | |
Equity Interest | 100.00% | 100.00% |
IperionX Technology, LLC [Member] | ||
Subsidiaries [Abstract] | ||
Country of Incorporation | USA | |
Equity Interest | 100.00% | 100.00% |
Hyperion Metals (Australia) Pty Ltd [Member] | ||
Subsidiaries [Abstract] | ||
Country of Incorporation | Australia | |
Equity Interest | 100.00% | 100.00% |
Calatos Pty Ltd, LLC [Member] | ||
Subsidiaries [Abstract] | ||
Country of Incorporation | USA | |
Equity Interest | 100.00% | 100.00% |
SUBSEQUENT EVENTS AFTER BALANCE DATE (Details) - Subsequent Events [Member] |
Jan. 18, 2023
USD ($)
Phases
|
---|---|
SUBSEQUENT EVENTS AFTER BALANCE DATE [Abstract] | |
Number of contract award phases | Phases | 4 |
Top of range [member] | |
SUBSEQUENT EVENTS AFTER BALANCE DATE [Abstract] | |
Contract awards | $ | $ 500,000 |
1 Year IperionX Chart |
1 Month IperionX Chart |
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