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  "documentTitle": "IperionX Ltd. (IPX)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2025-11-12 00:00:00",
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  "notes": "Uses red arrows to visually connect the disappearance of data points across different time periods.",
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      "text": "Where is the scrap price assumption?",
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      "text": "IPX has evolved from giving very specific guidance on assumed scrap prices, to a wide range, to no range at all. IPX previously said that scrap pricing was a material assumption.",
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      "text": "July 2025: $3,000 - $15,000/t",
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      "text": "Source: Investor Presentation (July 2025), IPX press release (Sept 2, 2025) and press release (April 27, 2023)",
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      "text": "September 2025: No assumption",
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      "text": "April 2023: Very specific $7.06/kg = $6,405/t",
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      "kind": "title",
      "text": "Why Are Scrap Assumptions No Longer Deemed Material And Why No Longer Discussed?",
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