{
  "docId": "019dd923-622c-750b-8b99-ccb50c0de40d",
  "docSlug": "2ce2200974d3",
  "documentTitle": "IperionX Ltd. (IPX)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2025-11-12 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 27,
  "pageCount": 93,
  "prevPage": 26,
  "nextPage": 28,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "dense",
  "nDataPoints": 0,
  "notes": "Uses red boxes to highlight the specific conflicting data points in a side-by-side comparison.",
  "elementsJson": [
    "headline_text",
    "paragraph",
    "comparison_table",
    "screenshot",
    "callout_box",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b99-ccb50c0de40d/27",
  "deckHref": "/decks/019dd923-622c-750b-8b99-ccb50c0de40d",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b99-ccb50c0de40d.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-ccb50c0de40d#slide-27",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "The journal also reports that the major disadvantages of HAMR are \"High temperature (700°C–800°C)\" and \"High energy consumption\". IPX recently claimed that the HAMR process is <700°C which is in stark contrast to the peer evaluation.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd952-f5d0-745c-bead-c1d1f056143b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.12,
        "w": 0.96,
        "x": 0.02,
        "y": 0.17
      },
      "kind": "paragraph",
      "text": "The journal also reports that the major disadvantages of HAMR are “High temperature (700°C–800°C)” and “High energy consumption”. IPX recently claimed that the HAMR process is <700°C which is in stark contrast to the peer evaluation.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "9ee7c8ab-8d29-4208-862d-160e39526ea8",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "quote",
      "text": "High temperature (700°C–800°C) — Journal of The Electrochemical Society",
      "attrs": null,
      "subkind": null,
      "toolName": "Authority citation",
      "toolSlug": "authority-citation",
      "confidence": null,
      "componentId": "019dd952-f5d0-745c-bead-c788221395e3",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.96,
        "x": 0.02,
        "y": 0.94
      },
      "kind": "source-note",
      "text": "Source: Journal of The Electrochemical Society, “Review—The Emerging Technologies for Producing Low-Cost Titanium”, April 1, 2021. IPX press release discussing lower unit cost production and energy efficiency, September 2, 2025. Canaccord Presentation (August 2024), Spruce Point red / blue emphasis.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a117008f-4054-4412-9a10-488dd2d7453a",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.45,
        "w": 0.5,
        "x": 0.48,
        "y": 0.42
      },
      "kind": "table",
      "text": "Scientific journal excerpt table",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "443aa9b2-2a90-4a70-be3b-3ad32d43fce5",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.45,
        "w": 0.45,
        "x": 0.02,
        "y": 0.42
      },
      "kind": "table",
      "text": "Comparison table of IperionX vs Industry standards",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "fe045597-3208-48d5-b69e-4734443b56af",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.37,
        "x": 0.315,
        "y": 0.05
      },
      "kind": "title",
      "text": "Conflicting HAMR Temperature Claims",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "34870dbe-e2f5-4d7a-8527-b49cd8abb43d",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "ceo-quote-contradiction",
      "slug": null,
      "matchId": "0e291e48-24b9-4a99-80f8-2dd57a9e5e38",
      "evidence": "Contrasts company claims against external scientific literature.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 40,
      "from": 21,
      "beatId": "f2e3c9e9-4e3e-4778-b04f-3f831eb2ec3a",
      "arcName": "Overcoming the Monster",
      "arcSlug": "overcoming-monster",
      "beatName": "Preempt Rebuttal",
      "beatSlug": null,
      "evidence": "The document preempts potential rebuttals to its concerns and discrepancies",
      "position": 2,
      "confidence": 0.8,
      "parentBeatName": null,
      "parentBeatSlug": null
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}