IPX - IperionX Limited

Chairman bought $1.1M after a $50M equity raise, signaling the capital is for growth, not survival, in a strategic titanium supply chain.

Backdoor play on SpaceX theme, broke out of cup-with-handle pattern, targeting $46-50 area of last price acceptance

IperionX is positioned as a backdoor SpaceX play solving the US aerospace titanium bottleneck. The company has patented HAMR technology to produce titanium domestically from recycled scrap at lower cost, has $47M in federal funding, and is at the center of four specific catalysts in 2026: commercial production ramp, capacity expansion from 50 to 1,400 tons, projected positive EBITDA by year-end, and the Titan project feasibility study. Analyst price targets around $55 vs current ~$32 suggest 75%+ upside, and a SpaceX contract could send it significantly higher.

Forming a rounded bottom pattern after a sell-off from $60 to $20. Similar setup to a previous successful SpaceX backdoor play. Benefits from a SpaceX-related bottleneck thematic. Ross enters a live trade.