IperionX Limited (IPX) 6-K 28 Jul 23 Interim Financial Report Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Dec. 31, 2022
Cover [Abstract]
Entity Registrant Name	IPERIONX Ltd
Entity Central Index Key	0001898601
Current Fiscal Year End Date	--06-30
Document Type	6-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2022

Condensed Consolidated Statemen

Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income - USD ($)	6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Continuing operations
Exploration and evaluation expenses	$ (1,517,474)	$ (2,734,807)
Research and development costs	(2,099,309)	(696,715)
Corporate and administrative expenses	(2,161,671)	(998,378)
Business development expenses	(1,333,073)	(1,501,724)
Share-based payment expense	(1,566,231)	(4,764,135)
Finance income	198,282	157,435
Finance costs	(30,717)	(23,831)
Other income and expenses	(243,884)	0
Loss before income tax	(8,754,077)	(10,562,155)
Income tax expense	0	0
Loss for the period	(8,754,077)	(10,562,155)
Loss attributable to members of IperionX Limited	(8,754,077)	(10,562,155)
Items that may be reclassified subsequently to profit or loss:
Exchange differences arising on translation of foreign operations	(102,645)	(232,068)
Other comprehensive loss for the period, net of tax	(102,645)	(232,068)
Total comprehensive loss for the period	(8,856,722)	(10,794,223)
Total comprehensive loss attributable to members of IperionX Limited	$ (8,856,722)	$ (10,794,223)
Loss per share
Basic loss per share (in dollars per share)	$ (0.06)	$ (0.08)
Diluted loss per share (in dollars per share)	$ (0.06)	$ (0.08)

Condensed Consolidated Statem_2

Condensed Consolidated Statement of Financial Position - USD ($)	Dec. 31, 2022	Jun. 30, 2022
Current Assets
Cash and cash equivalents	$ 11,438,526	$ 5,672,551
Trade and other receivables	84,477	22,540
Prepayments	255,149	144,183
Total Current Assets	11,778,152	5,839,274
Non-Current Assets
Exploration and evaluation assets	2,849,429	2,431,229
Property, plant and equipment	3,369,099	1,387,986
Financial assets	0	250,000
Total Non-Current Assets	6,218,528	4,069,215
TOTAL ASSETS	17,996,680	9,908,489
Current Liabilities
Trade and other payables	1,468,271	1,899,348
Loans and borrowings	363,860	134,247
Provisions	0	46,392
Total Current Liabilities	1,832,131	2,079,987
Non-Current Liabilities
Loans and borrowings	788,591	408,783
Total Non-Current Liabilities	788,591	408,783
TOTAL LIABILITIES	2,620,722	2,488,770
NET ASSETS	15,375,958	7,419,719
EQUITY
Contributed equity	44,914,632	29,782,268
Reserves	13,967,477	12,389,525
Accumulated losses	(43,506,151)	(34,752,074)
TOTAL EQUITY	$ 15,375,958	$ 7,419,719

Condensed Consolidated Statem_3

Condensed Consolidated Statement of Changes in Equity - USD ($)	Total	Contributed Equity [Member]	Share-Based Payments Reserve [Member]	Foreign Currency Translation Reserve [Member]	Accumulated Losses [Member]
Beginning balance at Jun. 30, 2021	$ 1,760,120	$ 10,255,369	$ 4,738,007	$ (2,419)	$ (13,230,837)
Changes in equity
Net loss for the period	(10,562,155)	0	0	0	(10,562,155)
Exchange differences arising on translation of foreign operations	(232,068)	0	0	(232,068)	0
Total comprehensive loss for the period	(10,794,223)	0	0	(232,068)	(10,562,155)
Issue of shares - share placement	17,604,000	17,604,000	0	0	0
Issue of shares - exercise of options	2,146,737	2,239,216	(92,479)	0	0
Share issue costs	(428,812)	(428,812)	0	0	0
Share-based payment expense	4,764,135	0	4,764,135	0	0
Ending balance at Dec. 31, 2021	15,051,957	29,669,773	9,409,663	(234,487)	(23,792,992)
Beginning balance at Jun. 30, 2022	7,419,719	29,782,268	12,985,856	(596,331)	(34,752,074)
Changes in equity
Net loss for the period	(8,754,077)	0	0	0	(8,754,077)
Exchange differences arising on translation of foreign operations	(102,645)	0	0	(102,645)	0
Total comprehensive loss for the period	(8,856,722)	0	0	(102,645)	(8,754,077)
Issue of shares - share placement	16,117,800	16,117,800	0	0	0
Issue of shares - exercise of options	121,270	194,205	(72,935)	0	0
Issue of shares - conversion of RSUs	0	167,487	(167,487)	0	0
Share issue costs	(992,340)	(1,347,128)	354,788	0	0
Share-based payment expense	1,566,231	0	1,566,231	0	0
Ending balance at Dec. 31, 2022	$ 15,375,958	$ 44,914,632	$ 14,666,453	$ (698,976)	$ (43,506,151)

Condensed Consolidated Statem_4

Condensed Consolidated Statement of Cash Flows - USD ($)	6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities
Payments to suppliers and employees	$ (7,625,235)	$ (5,892,972)
Interest received	46,412	14,716
Interest paid	(12,137)	(22,688)
Net cash flows used in operating activities	(7,590,960)	(5,900,944)
Cash flows from investing activities
Purchase of exploration and evaluation assets	(418,200)	(380,975)
Purchase of property, plant and equipment	(1,179,703)	(113,890)
Purchase of financial assets	0	(250,000)
Net cash flows used in investing activities	(1,597,903)	(744,865)
Cash flows from financing activities
Proceeds from issue of shares	16,239,070	19,750,737
Share issue costs	(992,340)	(428,812)
Repayment of borrowings	(2,751)	0
Payment of principal portion of lease liabilities	(338,366)	(26,626)
Net cash flows from financing activities	14,905,613	19,295,299
Net increase in cash and cash equivalents	5,716,750	12,649,490
Net foreign exchange differences	49,225	(91,036)
Cash and cash equivalents at the beginning of the period	5,672,551	1,697,905
Cash and cash equivalents at the end of the period	$ 11,438,526	$ 14,256,359

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Dec. 31, 2022
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Corporate information IperionX Limited (“IperionX” or “Company”) is a for-profit company limited by shares, incorporated and domiciled in Australia. Our registered office is located at Level 9, 28 The Esplanade, Perth, Western Australia, 6000. Our ordinary shares are listed on the Australian Securities Exchange, or ASX, under the symbol “IPX”, and our American Depository Shares, or ADSs, each representing ten (10) of our ordinary shares, are listed on the Nasdaq Capital Market, or Nasdaq, under the symbol “IPX”. The principal activities of the Group during the six months ended December 31, 2022 consisted of the exploration and development of minerals and metals in the United States. The unaudited interim condensed consolidated financial statements of IperionX and its subsidiaries (the “Consolidated Entity” or the “Group”) for the six months ended December 31, 2022 (the “Interim Financial Statements”) were authorised for issue in accordance with a resolution of the Directors on March 14, 2023. Basis of preparation The Interim Financial Statements have been prepared in accordance with International Accounting Standard 34 Interim Financial Reporting International Accounting Standard Board (“IASB”) The Interim Financial Statements do not include all the notes of the type normally included in annual financial statements and are not necessarily indicative of the results of operations and cash flows expected for the year ended June 30, 2023. Accordingly, the Interim Financial Statements are to be read in conjunction with the annual consolidated financial statements of the Group for the year ended June 30, 2022. In the opinion of management, the accompanying Interim Financial Statements reflect all adjustments consisting only of normal recurring adjustments, which are necessary for a fair presentation of the financial results of such period. The financial report has been prepared on a historical cost basis and is presented in United States dollars ($). The accounting policies and methods of computation adopted in the preparation of the Interim Financial Statements are consistent with those adopted and disclosed in the annual consolidated financial statements of the Group for the year ended June 30, 2022, except as disclosed below. These accounting policies are consistent with Australian Accounting Standards. Going concern The interim financial statements have been prepared on the going concern basis, which contemplates the continuity of normal business activity and the realization of assets and the settlement of liabilities in the normal course of business. The Group had net cash outflows from operating and investing activities of US$9,188,863 for the six months ended December 31, 2022 (December 31, 2021: US$6,645,809). At December 31, 2022, the Group had cash and cash equivalents of US$11,438,526 (December 31, 2021: US$14,256,359). The ongoing operation of the Group remains dependent upon raising further additional funding from shareholders or other parties. In light of the future expenditures to be incurred in executing on the Group’s current strategic plans to commercialize the Group’s titanium metal technologies and develop economically recoverable mineral deposits from the Group’s exploration properties, the Group is dependent on obtaining financing through equity financing, debt financing or other means. In the longer term, if the Group’s exploration, appraisal, and pilot activities are ultimately successful, additional funds will be required to develop the Group’s titanium metal technologies and exploration properties and commence commercial production. The ability to arrange such funding in the future will depend in part upon the prevailing capital market conditions as well as the business performance of the Group. There is no assurance that the Group will be successful in its efforts to raise additional funding on terms satisfactory to the Group. If the Group does not obtain additional funding, the Group may be required to delay, reduce the scope of, or eliminate its current or future exploration, appraisal, and pilot activities or relinquish rights to certain of its interests. As a result of these matters, there is a material uncertainty that may cast substantial doubt about the Group’s ability to continue as a going concern and therefore the Group may be unable to realize its assets and discharge its liabilities in the normal course of business. However, the Directors are confident that the Group will be able to raise additional funds as required to meet its obligations as and when they fall due and are of the opinion that the use of the going concern basis remains appropriate. Comparative information The Group has updated the classification of expenses to make the Statement of Profit or Loss and other Comprehensive Income more relevant to users of the financial statements. This has resulted in the reclassification of some expenses in the prior period, however, has not impacted the reported loss for the prior period or earnings per share. New and amended standards and interpretations In the current period, the Group has adopted all of the new and revised standards, interpretations and amendments that are relevant to its operations and effective for annual reporting periods beginning on or after July 1, 2022. The new standards have not had a material effect on the Group’s financial statements. The Group has not early adopted any other standard, interpretation or amendment that has been issued but is not yet effective.

SEGMENT INFORMATION

SEGMENT INFORMATION	6 Months Ended
	Dec. 31, 2022
SEGMENT INFORMATION [Abstract]
SEGMENT INFORMATION	2. SEGMENT INFORMATION IFRS 8 Operating Segments The Consolidated Entity operates in one segment, being exploration and development of minerals and metals in the United States.

DIVIDENDS PAID OR PROVIDED FOR

DIVIDENDS PAID OR PROVIDED FOR	6 Months Ended
	Dec. 31, 2022
DIVIDENDS PAID OR PROVIDED FOR [Abstract]
DIVIDENDS PAID OR PROVIDED FOR	3. DIVIDENDS PAID OR PROVIDED FO R ON ORDINARY SHARES No dividend has been paid or provided for during the six months ended December 31, 2022 (December 31, 2021: nil

EXPLORATION AND EVALUATION ASSE

EXPLORATION AND EVALUATION ASSETS	6 Months Ended
	Dec. 31, 2022
EXPLORATION AND EVALUATION ASSETS [Abstract]
EXPLORATION AND EVALUATION ASSETS	4. EXPLORATION AND EVALUATION ASSETS Titan Project US$ December 31, 2022 Carrying value at July 1, 2022 2,431,229 Additions 418,200 Carrying amount at December 31, 2022 (1) 2,849,429 June 30, 2022 Carrying value at July 1, 2021 504,750 Additions 1,926,479 Carrying amount at June 30, 2022 (1) 2,431,229 Notes: (1) The ultimate recoupment of costs carried forward for exploration and evaluation is dependent on the successful development and commercial exploitation or sale of the respective areas of interest.

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	6 Months Ended
	Dec. 31, 2022
PROPERTY, PLANT AND EQUIPMENT [Abstract]
PROPERTY, PLANT AND EQUIPMENT	5. PROPERTY, PLANT AND EQUIPMENT Plant and equipment US$ Right-of-use assets US$ Total US$ December 31, 2022 Carrying value at July 1, 2022 922,118 465,868 1,387,986 Additions 1,179,703 950,537 2,130,240 Depreciation (33,802 ) (115,325 ) (149,127 ) Carrying amount at December 31, 2022 2,068,019 1,301,080 3,369,099 - at cost 2,136,508 1,543,876 3,680,384 - accumulated depreciation (68,489 ) (242,796 ) (311,285 ) June 30, 2022 Carrying value at July 1, 2021 65,858 473,761 539,619 Additions 889,988 140,188 1,030,176 Lease modifications - (28,375 ) (28,375 ) Depreciation (33,728 ) (119,706 ) (153,434 ) Carrying amount at June 30, 2022 922,118 465,868 1,387,986 - at cost 956,805 593,339 1,550,144 - accumulated depreciation (34,687 ) (127,471 ) (162,158 )

TRADE AND OTHER PAYABLES

TRADE AND OTHER PAYABLES	6 Months Ended
	Dec. 31, 2022
TRADE AND OTHER PAYABLES [Abstract]
TRADE AND OTHER PAYABLES	6. TRADE AND OTHER PAYABLES December 31, 2022 US$ June 30, 2022 US$ Current Trade payables 357,937 1,677,757 Accruals 395,508 196,450 Employee benefits 714,826 25,141 Total trade and other payables 1,468,271 1,899,348

LOANS AND BORROWINGS

LOANS AND BORROWINGS	6 Months Ended
	Dec. 31, 2022
LOANS AND BORROWINGS [Abstract]
LOANS AND BORROWINGS	7. LOANS AND BORROWINGS December 31, 2022 US$ June 30, 2022 US$ Current Lease liabilities 358,112 128,653 Other loans and borrowings 5,748 5,594 Total current loans and borrowings 363,860 134,247 Non-current Lease liabilities 760,633 377,920 Other loans and borrowings 27,958 30,863 Total non-current loans and borrowings 788,591 408,783 Total loans and borrowings 1,152,451 543,030

CONTRIBUTED EQUITY

CONTRIBUTED EQUITY	6 Months Ended
	Dec. 31, 2022
CONTRIBUTED EQUITY [Abstract]
CONTRIBUTED EQUITY	8. CONTRIBUTED EQUITY Issued capital December 31, 2022 US$ June 30, 2022 US$ 171,225,492 140,288,491 44,914,632 29,782,268 44,914,632 29,782,268 Movements in issued capital No. of Ordinary Shares No. of Class A Performance Shares No. of Class B Performance Shares US$ December 31, 2022 Opening balance at July 1, 2022 140,288,491 19,800,000 19,800,000 29,782,268 Issue of shares - share placement 30,000,000 - - 16,117,800 Issue of shares - exercise of options 737,000 - - 194,205 Conversion of RSUs 200,001 - - 167,487 Share issue costs - - - (1,347,128 ) Closing balance at December 31, 2022 171,225,492 19,800,000 19,800,000 44,914,632 December 31, 2021 Opening balance at July 1, 2021 105,105,787 19,800,000 19,800,000 10,255,369 Issue of shares - share placement 20,000,000 - - 17,604,000 Issue of shares - exercise of options 14,382,704 - - 2,239,216 Share issue costs - - - (428,812 ) Closing balance at December 31, 2021 139,488,491 19,800,000 19,800,000 29,669,773

RESERVES

RESERVES	6 Months Ended
	Dec. 31, 2022
RESERVES [Abstract]
RESERVES	9. RESERVES Reserves December 31, 2022 US$ June 30, 2022 US$ Share based payments reserve 14,666,453 12,985,856 Foreign currency translation reserve (698,976 ) (596,331 ) Total reserves 13,967,477 12,389,525 Movements in share based payments reserve No. of Listed Options No. of Unlisted Options No. of Performance Rights No. of RSUs US$ December 31, 2022 Opening balance at July 1, 2022 - 23,824,000 27,620,000 600,000 12,985,856 Grant of employee incentive securities - 424,372 1,135,000 424,372 - Exercise of options - (737,000 ) - - (72,935 ) Conversion of RSUs - - - (200,001 ) (167,487 ) Grant of options to advisor - 1,000,000 - - 354,788 Share-based payments expense - - - - 1,566,231 Closing balance at December 31, 2022 - 24,511,372 28,755,000 824,371 14,666,453 December 31, 2021 Opening balance at July 1, 2021 12,624,214 25,800,000 16,325,000 - 4,738,007 Grant of employee incentive securities - 600,000 8,990,000 600,000 - Exercise of options (12,606,704 ) (1,776,000 ) - - (92,479 ) Expiry of options (17,510 ) - - - - Share-based payments expense - - - - 4,764,135 Closing balance at December 31, 2021 - 24,624,000 25,315,000 600,000 9,409,663

SUBSIDIARIES

SUBSIDIARIES	6 Months Ended
	Dec. 31, 2022
SUBSIDIARIES [Abstract]
SUBSIDIARIES	10. SUBSIDIARIES Equity Interest Country of Incorporation December 31, 2022 % June 30, 2022 % IperionX Inc. USA 100 % 100 % IperionX Critical Minerals, LLC USA 100 % 100 % IperionX Technology, LLC USA 100 % 100 % Hyperion Metals (Australia) Pty Ltd Australia 100 % 100 % Calatos Pty Ltd, LLC USA 100 % 100 %

CONTINGENT ASSETS AND LIABILITI

CONTINGENT ASSETS AND LIABILITIES	6 Months Ended
	Dec. 31, 2022
CONTINGENT ASSETS AND LIABILITIES [Abstract]
CONTINGENT ASSETS AND LIABILITIES	11. CONTINGENT ASSETS AND LIABILITIES Titan Project At December 31, 2022, the Group had entered into exclusive option agreements with local landowners in Tennessee, United States, in relation to its Titan Project, which upon exercise, allows the Group to lease or, in some cases purchase, approximately 11,071 acres of surface property and the associated mineral rights from the local landowners. During the option period, our option agreements provide us with exclusive right to access, enter, occupy and use the surface property for all purposes related to exploring for and evaluating all minerals in return for making annual option payments and bonus payments during periods when we conduct drilling. Upon exercise, in the case of an option to lease, the Company will pay a production royalty to the landowners, subject to a minimum royalty. Upon exercise, in the case of a purchase, the Company will pay cash consideration approximating the fair market value of the property, excluding the value of any minerals, plus a premium. Blacksand At December 31, 2022, the Group had an exclusive option to purchase certain assets (including all intellectual property rights) of Blacksand Technology, LLC (“Blacksand”). Blacksand holds the exclusive commercial licensing rights for more than 40 global patents through a license agreement with the University of Utah including the global patents for patented technologies that can produce low-cost and low-carbon titanium metal. IperionX can exercise its option any time prior to 31 December 2024 (“Option Period”). As consideration for the option, IperionX shall make option payments to Blacksand totalling US$6,000,000 during the Option Period (US$1,500,000 payable in each of January 2023, July 2023, January 2024 and July 2024). If IperionX chooses to exercise its option, IperionX shall pay Blacksand: (1) any option payments that have not been paid at the date of exercise; and (2) an additional US$6,000,000. Subject to shareholder approval, IperionX may elect to satisfy 30% of the total purchase price through the issue of shares in IperionX. IperionX shall also commit to donate US$1,000,000 to establish an endowed chair professorship at the University of Utah in Dr. Fang’s name. If net sales from the acquired assets exceed US$300,000,000, then IperionX shall pay Blacksand a royalty equal to 0.5% of net sales in excess of US$300,000,000 for the life of the licensed patents. If IperionX chooses not to exercise its option, IperionX retains options to licence key technologies from Blacksand, including HAMR and GSD technologies that can produce low-cost and low-carbon titanium metal, for consideration comprising a license fee and a royalty.

SUBSEQUENT EVENTS AFTER BALANCE

SUBSEQUENT EVENTS AFTER BALANCE DATE	6 Months Ended
	Dec. 31, 2022
SUBSEQUENT EVENTS AFTER BALANCE DATE [Abstract]
SUBSEQUENT EVENTS AFTER BALANCE DATE [Text Block]	12. SUBSEQUENT EVENTS AFTER BALANCE DATE (a) On January 18, 2023, IperionX announced that it was the winner of the U.S. Department of Defense’s National Security Innovation Network (“NSIN”) Air Force Research Laboratory (“AFRL”) Grand Challenge contract. The winner of the Grand Challenge is eligible for a contract award up to US$500,000 across four phases. Other than as outlined above, at the date of this report there are no other significant events occurring after balance date requiring disclosure.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Dec. 31, 2022
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Corporate information	Corporate information IperionX Limited (“IperionX” or “Company”) is a for-profit company limited by shares, incorporated and domiciled in Australia. Our registered office is located at Level 9, 28 The Esplanade, Perth, Western Australia, 6000. Our ordinary shares are listed on the Australian Securities Exchange, or ASX, under the symbol “IPX”, and our American Depository Shares, or ADSs, each representing ten (10) of our ordinary shares, are listed on the Nasdaq Capital Market, or Nasdaq, under the symbol “IPX”. The principal activities of the Group during the six months ended December 31, 2022 consisted of the exploration and development of minerals and metals in the United States. The unaudited interim condensed consolidated financial statements of IperionX and its subsidiaries (the “Consolidated Entity” or the “Group”) for the six months ended December 31, 2022 (the “Interim Financial Statements”) were authorised for issue in accordance with a resolution of the Directors on March 14, 2023.
Basis of preparation	Basis of preparation The Interim Financial Statements have been prepared in accordance with International Accounting Standard 34 Interim Financial Reporting International Accounting Standard Board (“IASB”) The Interim Financial Statements do not include all the notes of the type normally included in annual financial statements and are not necessarily indicative of the results of operations and cash flows expected for the year ended June 30, 2023. Accordingly, the Interim Financial Statements are to be read in conjunction with the annual consolidated financial statements of the Group for the year ended June 30, 2022. In the opinion of management, the accompanying Interim Financial Statements reflect all adjustments consisting only of normal recurring adjustments, which are necessary for a fair presentation of the financial results of such period. The financial report has been prepared on a historical cost basis and is presented in United States dollars ($). The accounting policies and methods of computation adopted in the preparation of the Interim Financial Statements are consistent with those adopted and disclosed in the annual consolidated financial statements of the Group for the year ended June 30, 2022, except as disclosed below. These accounting policies are consistent with Australian Accounting Standards. Going concern The interim financial statements have been prepared on the going concern basis, which contemplates the continuity of normal business activity and the realization of assets and the settlement of liabilities in the normal course of business. The Group had net cash outflows from operating and investing activities of US$9,188,863 for the six months ended December 31, 2022 (December 31, 2021: US$6,645,809). At December 31, 2022, the Group had cash and cash equivalents of US$11,438,526 (December 31, 2021: US$14,256,359). The ongoing operation of the Group remains dependent upon raising further additional funding from shareholders or other parties. In light of the future expenditures to be incurred in executing on the Group’s current strategic plans to commercialize the Group’s titanium metal technologies and develop economically recoverable mineral deposits from the Group’s exploration properties, the Group is dependent on obtaining financing through equity financing, debt financing or other means. In the longer term, if the Group’s exploration, appraisal, and pilot activities are ultimately successful, additional funds will be required to develop the Group’s titanium metal technologies and exploration properties and commence commercial production. The ability to arrange such funding in the future will depend in part upon the prevailing capital market conditions as well as the business performance of the Group. There is no assurance that the Group will be successful in its efforts to raise additional funding on terms satisfactory to the Group. If the Group does not obtain additional funding, the Group may be required to delay, reduce the scope of, or eliminate its current or future exploration, appraisal, and pilot activities or relinquish rights to certain of its interests. As a result of these matters, there is a material uncertainty that may cast substantial doubt about the Group’s ability to continue as a going concern and therefore the Group may be unable to realize its assets and discharge its liabilities in the normal course of business. However, the Directors are confident that the Group will be able to raise additional funds as required to meet its obligations as and when they fall due and are of the opinion that the use of the going concern basis remains appropriate. Comparative information The Group has updated the classification of expenses to make the Statement of Profit or Loss and other Comprehensive Income more relevant to users of the financial statements. This has resulted in the reclassification of some expenses in the prior period, however, has not impacted the reported loss for the prior period or earnings per share.
New and amended standards and interpretations	New and amended standards and interpretations In the current period, the Group has adopted all of the new and revised standards, interpretations and amendments that are relevant to its operations and effective for annual reporting periods beginning on or after July 1, 2022. The new standards have not had a material effect on the Group’s financial statements. The Group has not early adopted any other standard, interpretation or amendment that has been issued but is not yet effective.

EXPLORATION AND EVALUATION AS_2

EXPLORATION AND EVALUATION ASSETS (Tables)	6 Months Ended
	Dec. 31, 2022
EXPLORATION AND EVALUATION ASSETS [Abstract]
Exploration and Evaluation Assets	Titan Project US$ December 31, 2022 Carrying value at July 1, 2022 2,431,229 Additions 418,200 Carrying amount at December 31, 2022 (1) 2,849,429 June 30, 2022 Carrying value at July 1, 2021 504,750 Additions 1,926,479 Carrying amount at June 30, 2022 (1) 2,431,229 Notes: (1) The ultimate recoupment of costs carried forward for exploration and evaluation is dependent on the successful development and commercial exploitation or sale of the respective areas of interest.

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	6 Months Ended
	Dec. 31, 2022
PROPERTY, PLANT AND EQUIPMENT [Abstract]
Property, Plant and Equipment	Plant and equipment US$ Right-of-use assets US$ Total US$ December 31, 2022 Carrying value at July 1, 2022 922,118 465,868 1,387,986 Additions 1,179,703 950,537 2,130,240 Depreciation (33,802 ) (115,325 ) (149,127 ) Carrying amount at December 31, 2022 2,068,019 1,301,080 3,369,099 - at cost 2,136,508 1,543,876 3,680,384 - accumulated depreciation (68,489 ) (242,796 ) (311,285 ) June 30, 2022 Carrying value at July 1, 2021 65,858 473,761 539,619 Additions 889,988 140,188 1,030,176 Lease modifications - (28,375 ) (28,375 ) Depreciation (33,728 ) (119,706 ) (153,434 ) Carrying amount at June 30, 2022 922,118 465,868 1,387,986 - at cost 956,805 593,339 1,550,144 - accumulated depreciation (34,687 ) (127,471 ) (162,158 )

TRADE AND OTHER PAYABLES (Table

TRADE AND OTHER PAYABLES (Tables)	6 Months Ended
	Dec. 31, 2022
TRADE AND OTHER PAYABLES [Abstract]
Trade and Other Payables	December 31, 2022 US$ June 30, 2022 US$ Current Trade payables 357,937 1,677,757 Accruals 395,508 196,450 Employee benefits 714,826 25,141 Total trade and other payables 1,468,271 1,899,348

LOANS AND BORROWINGS (Tables)

LOANS AND BORROWINGS (Tables)	6 Months Ended
	Dec. 31, 2022
LOANS AND BORROWINGS [Abstract]
Loans and Borrowings	December 31, 2022 US$ June 30, 2022 US$ Current Lease liabilities 358,112 128,653 Other loans and borrowings 5,748 5,594 Total current loans and borrowings 363,860 134,247 Non-current Lease liabilities 760,633 377,920 Other loans and borrowings 27,958 30,863 Total non-current loans and borrowings 788,591 408,783 Total loans and borrowings 1,152,451 543,030

CONTRIBUTED EQUITY (Tables)

CONTRIBUTED EQUITY (Tables)	6 Months Ended
	Dec. 31, 2022
CONTRIBUTED EQUITY [Abstract]
Issued Capital	Issued capital December 31, 2022 US$ June 30, 2022 US$ 171,225,492 140,288,491 44,914,632 29,782,268 44,914,632 29,782,268
Movements in Issued Capital	Movements in issued capital No. of Ordinary Shares No. of Class A Performance Shares No. of Class B Performance Shares US$ December 31, 2022 Opening balance at July 1, 2022 140,288,491 19,800,000 19,800,000 29,782,268 Issue of shares - share placement 30,000,000 - - 16,117,800 Issue of shares - exercise of options 737,000 - - 194,205 Conversion of RSUs 200,001 - - 167,487 Share issue costs - - - (1,347,128 ) Closing balance at December 31, 2022 171,225,492 19,800,000 19,800,000 44,914,632 December 31, 2021 Opening balance at July 1, 2021 105,105,787 19,800,000 19,800,000 10,255,369 Issue of shares - share placement 20,000,000 - - 17,604,000 Issue of shares - exercise of options 14,382,704 - - 2,239,216 Share issue costs - - - (428,812 ) Closing balance at December 31, 2021 139,488,491 19,800,000 19,800,000 29,669,773

RESERVES (Tables)

RESERVES (Tables)	6 Months Ended
	Dec. 31, 2022
RESERVES [Abstract]
Reserves	Reserves December 31, 2022 US$ June 30, 2022 US$ Share based payments reserve 14,666,453 12,985,856 Foreign currency translation reserve (698,976 ) (596,331 ) Total reserves 13,967,477 12,389,525
Movements in Share-based Payments Reserve	Movements in share based payments reserve No. of Listed Options No. of Unlisted Options No. of Performance Rights No. of RSUs US$ December 31, 2022 Opening balance at July 1, 2022 - 23,824,000 27,620,000 600,000 12,985,856 Grant of employee incentive securities - 424,372 1,135,000 424,372 - Exercise of options - (737,000 ) - - (72,935 ) Conversion of RSUs - - - (200,001 ) (167,487 ) Grant of options to advisor - 1,000,000 - - 354,788 Share-based payments expense - - - - 1,566,231 Closing balance at December 31, 2022 - 24,511,372 28,755,000 824,371 14,666,453 December 31, 2021 Opening balance at July 1, 2021 12,624,214 25,800,000 16,325,000 - 4,738,007 Grant of employee incentive securities - 600,000 8,990,000 600,000 - Exercise of options (12,606,704 ) (1,776,000 ) - - (92,479 ) Expiry of options (17,510 ) - - - - Share-based payments expense - - - - 4,764,135 Closing balance at December 31, 2021 - 24,624,000 25,315,000 600,000 9,409,663

SUBSIDIARIES (Tables)

SUBSIDIARIES (Tables)	6 Months Ended
	Dec. 31, 2022
SUBSIDIARIES [Abstract]
Subsidiaries	Equity Interest Country of Incorporation December 31, 2022 % June 30, 2022 % IperionX Inc. USA 100 % 100 % IperionX Critical Minerals, LLC USA 100 % 100 % IperionX Technology, LLC USA 100 % 100 % Hyperion Metals (Australia) Pty Ltd Australia 100 % 100 % Calatos Pty Ltd, LLC USA 100 % 100 %

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Corporate information (Details)	Dec. 31, 2022 shares
Corporate information [Abstract]
Number of ordinary shares listed on each securities exchange (in shares)	10

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Basis of Preparation (Details) - USD ($)	6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Jun. 30, 2022	Jun. 30, 2021
Basis of preparation [Abstract]
Net cash outflows from operating and investing activities	$ 9,188,863	$ 6,645,809
Cash and cash equivalents	$ 11,438,526	$ 14,256,359	$ 5,672,551	$ 1,697,905

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details)	6 Months Ended
	Dec. 31, 2022 Segment
SEGMENT INFORMATION [Abstract]
Number of operating segments	1

DIVIDENDS PAID OR PROVIDED FOR

DIVIDENDS PAID OR PROVIDED FOR (Details) - USD ($)	6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
DIVIDENDS PAID OR PROVIDED FOR [Abstract]
Dividends paid	$ 0	$ 0
Dividends proposed	$ 0	$ 0

EXPLORATION AND EVALUATION AS_3

EXPLORATION AND EVALUATION ASSETS (Details) - USD ($)		6 Months Ended		12 Months Ended
		Dec. 31, 2022		Jun. 30, 2022
Exploration And Evaluation Assets [Roll Forward]
Carrying amount, beginning balance		$ 2,431,229
Carrying amount, ending balance		2,849,429		$ 2,431,229
Titan Project [Member]
Exploration And Evaluation Assets [Roll Forward]
Carrying amount, beginning balance		2,431,229	[1]	504,750
Additions		418,200		1,926,479
Carrying amount, ending balance	[1]	$ 2,849,429		$ 2,431,229
[1]The ultimate recoupment of costs carried forward for exploration and evaluation is dependent on the successful development and commercial exploitation or sale of the respective areas of interest.

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($)	6 Months Ended	12 Months Ended
	Dec. 31, 2022	Jun. 30, 2022
Reconciliation of changes in property, plant and equipment [abstract]
Carrying value, beginning balance	$ 1,387,986	$ 539,619
Additions	2,130,240	1,030,176
Lease modifications		(28,375)
Depreciation	(149,127)	(153,434)
Carrying amount, ending balance	3,369,099	1,387,986
At Cost [Member]
Reconciliation of changes in property, plant and equipment [abstract]
Carrying value, beginning balance	1,550,144
Carrying amount, ending balance	3,680,384	1,550,144
Accumulated Depreciation [Member]
Reconciliation of changes in property, plant and equipment [abstract]
Carrying value, beginning balance	(162,158)
Carrying amount, ending balance	(311,285)	(162,158)
Plant and Equipment [Member]
Reconciliation of changes in property, plant and equipment [abstract]
Carrying value, beginning balance	922,118	65,858
Additions	1,179,703	889,988
Lease modifications		0
Depreciation	(33,802)	(33,728)
Carrying amount, ending balance	2,068,019	922,118
Plant and Equipment [Member] | At Cost [Member]
Reconciliation of changes in property, plant and equipment [abstract]
Carrying value, beginning balance	956,805
Carrying amount, ending balance	2,136,508	956,805
Plant and Equipment [Member] | Accumulated Depreciation [Member]
Reconciliation of changes in property, plant and equipment [abstract]
Carrying value, beginning balance	(34,687)
Carrying amount, ending balance	(68,489)	(34,687)
Right-of-use Assets [Member]
Reconciliation of changes in property, plant and equipment [abstract]
Carrying value, beginning balance	465,868	473,761
Additions	950,537	140,188
Lease modifications		(28,375)
Depreciation	(115,325)	(119,706)
Carrying amount, ending balance	1,301,080	465,868
Right-of-use Assets [Member] | At Cost [Member]
Reconciliation of changes in property, plant and equipment [abstract]
Carrying value, beginning balance	593,339
Carrying amount, ending balance	1,543,876	593,339
Right-of-use Assets [Member] | Accumulated Depreciation [Member]
Reconciliation of changes in property, plant and equipment [abstract]
Carrying value, beginning balance	(127,471)
Carrying amount, ending balance	$ (242,796)	$ (127,471)

TRADE AND OTHER PAYABLES (Detai

TRADE AND OTHER PAYABLES (Details) - USD ($)	Dec. 31, 2022	Jun. 30, 2022
Current [Abstract]
Trade payables	$ 357,937	$ 1,677,757
Accruals	395,508	196,450
Employee benefits	714,826	25,141
Total trade and other current payables	$ 1,468,271	$ 1,899,348

LOANS AND BORROWINGS (Details)

LOANS AND BORROWINGS (Details) - USD ($)	Dec. 31, 2022	Jun. 30, 2022
Current [Abstract]
Lease liabilities	$ 358,112	$ 128,653
Other loans and borrowings	5,748	5,594
Total current loans and borrowings	363,860	134,247
Non-current [Abstract]
Lease liabilities	760,633	377,920
Other loans and borrowings	27,958	30,863
Total non-current loans and borrowings	788,591	408,783
Total loans and borrowings	$ 1,152,451	$ 543,030

CONTRIBUTED EQUITY, Issued Capi

CONTRIBUTED EQUITY, Issued Capital (Details) - USD ($)	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021
Issued capital [abstract]
171,225,492 ordinary shares (June 30, 2022: 140,288,491)	$ 44,914,632	$ 29,782,268
Contributed Equity [Member]
Issued capital [abstract]
171,225,492 ordinary shares (June 30, 2022: 140,288,491)	$ 44,914,632	$ 29,782,268	$ 29,669,773	$ 10,255,369
Number of ordinary shares issued (in shares)	171,225,492	140,288,491

CONTRIBUTED EQUITY, Movements i

CONTRIBUTED EQUITY, Movements in Issued Capital (Details) - USD ($)	6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Movements in Issued Capital [Abstract]
Opening balance	$ 29,782,268
Issue of shares - exercise of options	121,270	$ 2,146,737
Conversion of RSUs	0
Share issue costs	(992,340)	(428,812)
Closing balance	$ 44,914,632
Contributed Equity [Member]
Movements in Issued Capital [Abstract]
Opening balance (in shares)	140,288,491
Opening balance	$ 29,782,268	10,255,369
Issue of shares - share placement	16,117,800	17,604,000
Issue of shares - exercise of options	194,205	2,239,216
Conversion of RSUs	167,487
Share issue costs	$ (1,347,128)	(428,812)
Closing balance (in shares)	171,225,492
Closing balance	$ 44,914,632	$ 29,669,773
Contributed Equity [Member] | Ordinary Shares [Member]
Movements in Issued Capital [Abstract]
Opening balance (in shares)	140,288,491	105,105,787
Issue of shares - share placement (in shares)	30,000,000	20,000,000
Issue of shares - exercise of options (in shares)	737,000	14,382,704
Conversion of RSUs (in shares)	200,001
Closing balance (in shares)	171,225,492	139,488,491
Contributed Equity [Member] | Class A [Member]
Movements in Issued Capital [Abstract]
Opening balance (in shares)	19,800,000	19,800,000
Issue of shares - share placement (in shares)	0	0
Issue of shares - exercise of options (in shares)	0	0
Conversion of RSUs (in shares)	0
Closing balance (in shares)	19,800,000	19,800,000
Contributed Equity [Member] | Class B [Member]
Movements in Issued Capital [Abstract]
Opening balance (in shares)	19,800,000	19,800,000
Issue of shares - share placement (in shares)	0	0
Issue of shares - exercise of options (in shares)	0	0
Conversion of RSUs (in shares)	0
Closing balance (in shares)	19,800,000	19,800,000

RESERVES, Summary (Details)

RESERVES, Summary (Details) - USD ($)	Dec. 31, 2022	Jun. 30, 2022
RESERVES [Abstract]
Share based payments reserve	$ 14,666,453	$ 12,985,856
Foreign currency translation reserve	(698,976)	(596,331)
Total Reserve	$ 13,967,477	$ 12,389,525

RESERVES, Movements in Share-ba

RESERVES, Movements in Share-based Payments Reserve (Details) - USD ($)	6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Movements in share based payments reserve [Abstract]
Opening balance, Share-based payments reserve	$ 12,985,856
Exercise of options	(121,270)	$ (2,146,737)
Conversion of RSUs	0
Share-based payments expense	1,566,231	$ 4,764,135
Closing balance, share-based payments reserve	$ 14,666,453
Listed Options [Member]
Number of Options [Abstract]
Outstanding at beginning of period (in shares)	0	12,624,214
Grant of employee incentive securities (in shares)	0	0
Exercise of options (in shares)	0	(12,606,704)
Grant of options to advisor (in shares)	0
Expiry of options (in shares)		(17,510)
Outstanding at end of period (in shares)	0	0
Unlisted Options [Member]
Number of Options [Abstract]
Outstanding at beginning of period (in shares)	23,824,000	25,800,000
Grant of employee incentive securities (in shares)	424,372	600,000
Exercise of options (in shares)	(737,000)	(1,776,000)
Grant of options to advisor (in shares)	1,000,000
Expiry of options (in shares)		0
Outstanding at end of period (in shares)	24,511,372	24,624,000
Performance Rights [Member]
Number of Performance Rights and Restricted Stock Units [Abstract]
Opening balance (in shares)	27,620,000	16,325,000
Grant of employee incentive securities (in shares)	1,135,000	8,990,000
Conversion of RSUs (in shares)	0
Closing balance (in shares)	28,755,000	25,315,000
Restricted Stock Units [Member]
Number of Performance Rights and Restricted Stock Units [Abstract]
Opening balance (in shares)	600,000	0
Grant of employee incentive securities (in shares)	424,372	600,000
Conversion of RSUs (in shares)	(200,001)
Closing balance (in shares)	824,371	600,000
Share Based Payments Reserve [Member]
Movements in share based payments reserve [Abstract]
Opening balance, Share-based payments reserve	$ 12,985,856	$ 4,738,007
Grant of employee incentive securities	0	0
Exercise of options	(72,935)	(92,479)
Conversion of RSUs	(167,487)
Grant of options to advisor	354,788
Expiration of options		0
Share-based payments expense	1,566,231	4,764,135
Closing balance, share-based payments reserve	$ 14,666,453	$ 9,409,663

SUBSIDIARIES (Details)

SUBSIDIARIES (Details)	6 Months Ended	12 Months Ended
	Dec. 31, 2022	Jun. 30, 2022
IperionX Inc. [Member]
Subsidiaries [Abstract]
Country of Incorporation	USA
Equity Interest	100%	100%
IperionX Critical Minerals LLC [Member]
Subsidiaries [Abstract]
Country of Incorporation	USA
Equity Interest	100%	100%
IperionX Technology, LLC [Member]
Subsidiaries [Abstract]
Country of Incorporation	USA
Equity Interest	100%	100%
Hyperion Metals (Australia) Pty Ltd [Member]
Subsidiaries [Abstract]
Country of Incorporation	Australia
Equity Interest	100%	100%
Calatos Pty Ltd, LLC [Member]
Subsidiaries [Abstract]
Country of Incorporation	USA
Equity Interest	100%	100%

CONTINGENT ASSETS AND LIABILI_2

CONTINGENT ASSETS AND LIABILITIES (Details)	6 Months Ended
	Dec. 31, 2022 USD ($) a Patent	Jul. 31, 2024 USD ($)	Jan. 31, 2024 USD ($)	Jul. 31, 2023 USD ($)	Jan. 31, 2023 USD ($)
Titan Project [Member]
Contingent Assets and Liabilities [Abstract]
Surface area of property allowed for lease or purchase (in acres) | a	11,071
Blacksand [Member]
Contingent Assets and Liabilities [Abstract]
Additional amount to be paid upon exercise of option to purchase	$ 6,000,000
Percent of purchase price to be paid in shares	30%
Amount of commitment to invest upon exercise of option to purchase	$ 1,000,000
Percent of cumulative net sales to be paid as royalty	0.50%
Blacksand [Member] | Bottom of range [member]
Contingent Assets and Liabilities [Abstract]
Number of global patents owned | Patent	40
Threshold of assets and properties for royalty payment	$ 300,000,000
Blacksand [Member] | Option Period One [Member]
Contingent Assets and Liabilities [Abstract]
Additional amount to be paid upon exercise of option to purchase					$ 1,500,000
Blacksand [Member] | Option Period Two [Member]
Contingent Assets and Liabilities [Abstract]
Additional amount to be paid upon exercise of option to purchase				$ 1,500,000
Blacksand [Member] | Option Period Three [Member]
Contingent Assets and Liabilities [Abstract]
Additional amount to be paid upon exercise of option to purchase			$ 1,500,000
Blacksand [Member] | Option Period Four [Member]
Contingent Assets and Liabilities [Abstract]
Additional amount to be paid upon exercise of option to purchase		$ 1,500,000

SUBSEQUENT EVENTS AFTER BALAN_2

SUBSEQUENT EVENTS AFTER BALANCE DATE (Details) - Subsequent Events [Member]	Jan. 18, 2023 USD ($) Phases
SUBSEQUENT EVENTS AFTER BALANCE DATE [Abstract]
Number of contract award phases | Phases	4
Top of range [member]
SUBSEQUENT EVENTS AFTER BALANCE DATE [Abstract]
Contract awards | $	$ 500,000