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  "documentTitle": "IperionX Ltd. (IPX)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
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  "presentationDate": "2025-11-12 00:00:00",
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  "notes": "The slide uses a table of research funding to contrast with a photo of a university facility opening to expose a lack of disclosure in securities filings.",
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      "text": "Dr. Fang's current CV no longer provides a history of his research funding since 2002. An archived version we found reveals that IPX has been his major industry funding partner at $13 million other than a small $30,000 funding from Boeing. A 10-year, $10 million agreement by IPX to fund research at the Titanium Additive Manufacturing Center has not been disclosed or discussed in IPX's securities filings.",
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      "text": "A 10-year, $10 million agreement by IPX to fund research at the Titanium Additive Manufacturing Center has not been disclosed or discussed in IPX’s securities filings.",
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      "text": "Photo of the new research facility opening",
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      "text": "METALLURGICAL ENGINEERING AND IPERIONX UNVEIL NEW RESEARCH FACILITY. The new lab follows announcement of 10-year, $10 million agreement with titanium industry leader IperionX...",
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      "kind": "source-note",
      "text": "Source: Fang CV (2024) vs. Current CV (2025) and University of Utah Announcements (Jan 2024) (1,2)",
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      "text": "IPX's 10-Year, $10M Commitment To The University of Utah",
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