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  "documentTitle": "IperionX Ltd. (IPX)",
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  "presentationDate": "2025-11-12 00:00:00",
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      "text": "This new forecast does not provide much specificity in guidance, and unlike in 2023 where IPX showed projected annual powder production, the current forecast provides no such production guidance.",
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      "text": "IperionX September 2025 Quarterly Report excerpt",
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      "text": "EBITDA: $100 million",
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      "text": "In mid-2023, IPX said, “Assuming a conservative spherical titanium metal powder price of ~US$130/kg (vs. current estimated market pricing of ~US$200/kg), and using key operating assumptions, the TCF-1 has the potential to generate revenue of ~US$145 million and EBITDA of ~US$100 million in 2026.” We acknowledge that making forecasts have inherent risks that include factors outside of management’s control. Last month, IPX now says it expects to progressively scale revenue through 2026 and to inflect to positive EBITDA by year-end 2026. This new forecast does not provide much specificity in guidance, and unlike in 2023 where IPX showed projected annual powder production, the current forecast provides no such production guidance.",
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      "text": "Assuming a conservative spherical titanium metal powder price of ~US$130/kg (vs. current estimated market pricing of ~US$200/kg), and using key operating assumptions, the TCF-1 has the potential to generate revenue of ~US$145 million and EBITDA of ~US$100 million in 2026. — IperionX (Mid-2023)",
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      "text": "Source: Quarterly Reports (June 2023, Sept 2025).",
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      "text": "Reviewing Past IPX Projections",
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