{
  "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": 48,
  "pageCount": 93,
  "prevPage": 47,
  "nextPage": 49,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "balanced",
  "nDataPoints": 0,
  "notes": "Uses external news headlines to cast doubt on the target's operational integrity.",
  "elementsJson": [
    "headline_text",
    "callout_box",
    "screenshot",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b99-ccb50c0de40d/48",
  "deckHref": "/decks/019dd923-622c-750b-8b99-ccb50c0de40d",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b99-ccb50c0de40d.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-ccb50c0de40d#slide-48",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "To the extent this is true, we believe it would create another major challenge for IPX's supply chain in validating that its titanium scrap is authentic and unadulterated.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd952-f5d0-745c-beb0-7e4cd6be35e8",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.62,
        "w": 0.54,
        "x": 0.23,
        "y": 0.28
      },
      "kind": "image",
      "text": "News headlines regarding counterfeit titanium in Boeing and Airbus jets.",
      "attrs": null,
      "subkind": "screenshot",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d0e58f3e-d523-4251-8895-6f9945ef5360",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.09,
        "w": 0.96,
        "x": 0.02,
        "y": 0.17
      },
      "kind": "paragraph",
      "text": "The titanium industry recently made headlines when it was reported that the FAA is investing counterfeit titanium that was used in Boeing and Airbus jets. To the extent this is true, we believe it would create another major challenge for IPX's supply chain in validating that its titanium scrap is authentic and unadulterated.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "92de3f95-66de-4bcf-b088-e7627bf5e818",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "quote",
      "text": "Boeing and Airbus may have used 'counterfeit' titanium in planes, FAA says — NBC News",
      "attrs": null,
      "subkind": null,
      "toolName": "Authority citation",
      "toolSlug": "authority-citation",
      "confidence": null,
      "componentId": "019dd952-f5d0-745c-beb0-80e322b60f18",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.65,
        "x": 0.01,
        "y": 0.95
      },
      "kind": "source-note",
      "text": "Source: F.A.A. Investigating How Questionable Titanium Got Into Boeing and Airbus Jets\", NYTimes.com, June 14, 2024 \"Boeing and Airbus may have used 'counterfeit' titanium in planes, FAA says\", NBC News, June 14, 2024",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "8e69152d-0e2d-4c69-b01d-d67923fc0473",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.12,
        "w": 0.68,
        "x": 0.28,
        "y": 0.03
      },
      "kind": "title",
      "text": "\"Counterfeit Titanium\" Concerns Could Present More Challenges In Sourcing Scrap Feedstock",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "57ee6719-8b4f-47c5-b0aa-9be353138990",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "authority-citation",
      "slug": null,
      "matchId": "9aabb92e-1467-4666-809b-9c66d40d9b76",
      "evidence": "Citing FAA and major news outlets to validate the claim.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}