IperionX Limited (IPX) 6-K 22 Mar 24 Interim Financial Report Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Dec. 31, 2023
Cover [Abstract]
Document Type	6-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--06-30
Entity Registrant Name	IperionX Limited
Entity Central Index Key	0001898601

Condensed Consolidated Statemen

Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income - USD ($)	6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Continuing operations
Research and development costs	$ (3,763,468)	$ (2,099,309)
Exploration and evaluation expenses	(1,458,125)	(1,517,474)
Corporate and administrative expenses	(2,470,238)	(2,161,671)
Business development expenses	(1,320,441)	(1,333,073)
Share-based payment expenses	(1,108,090)	(1,566,231)
Finance income	210,558	198,282
Finance costs	(61,638)	(30,717)
Other income and expenses	(523,577)	(243,884)
Loss before income tax	(10,495,019)	(8,754,077)
Income tax expense	0	0
Loss for the period	(10,495,019)	(8,754,077)
Loss attributable to member of IperionX Limited	(10,495,019)	(8,754,077)
Items that may be reclassified subsequently to profit or loss:
Exchange differences arising on translation of foreign operations	571,034	(102,645)
Other comprehensive loss for the period, net of tax	571,034	(102,645)
Total comprehensive loss for the period	(9,923,985)	(8,856,722)
Total comprehensive loss attributable to members of IperionX Limited	$ (9,923,985)	$ (8,856,722)
Loss per share
Basic loss per share (in dollars per share)	$ (0.05)	$ (0.06)
Diluted loss per share (in dollars per share)	$ (0.05)	$ (0.06)

Condensed Consolidated Statem_2

Condensed Consolidated Statement of Financial Position - USD ($)	Dec. 31, 2023	Jun. 30, 2023
Current Assets
Cash and cash equivalents	$ 17,329,952	$ 11,937,941
Trade and other receivables	2,704,811	228,395
Prepayments	3,527,497	588,395
Total Current Assets	23,562,260	12,754,731
Non-Current Assets
Property, plant and equipment	4,580,521	3,989,783
Exploration and evaluation assets	5,900,713	3,059,021
Prepayments	0	3,000,000
Total Non-Current Assets	10,481,234	10,048,804
TOTAL ASSETS	34,043,494	22,803,535
Current Liabilities
Trade and other payables	2,185,625	1,180,984
Loans and borrowings	440,482	382,626
Provisions	0	84,009
Total Current Liabilities	2,626,107	1,647,619
Non-Current Liabilities
Loans and borrowings	1,241,626	592,688
Total Non-Current Liabilities	1,241,626	592,688
TOTAL LIABILITIES	3,867,733	2,240,307
NET ASSETS	30,175,761	20,563,228
EQUITY
Contributed equity	78,897,119	58,764,248
Reserves	13,970,489	13,995,808
Accumulated losses	(62,691,847)	(52,196,828)
TOTAL EQUITY	$ 30,175,761	$ 20,563,228

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, 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)
Beginning balance at Jun. 30, 2023	20,563,228	58,764,248	15,004,052	(1,008,244)	(52,196,828)
Changes in equity
Net loss for the period	(10,495,019)	0	0	0	(10,495,019)
Exchange differences arising on translation of foreign operations	571,034	0	0	571,034	0
Total comprehensive loss for the period	(9,923,985)	0	0	571,034	(10,495,019)
Issue of shares - share placement	17,088,750	17,088,750	0	0	0
Issue of shares - exercise of options	1,739,103	3,127,752	(1,388,649)	0	0
Issue of shares - conversion of RSUs	0	225,735	(225,735)	0	0
Issue of shares - conversion of employee rights	0	15,059	(15,059)	0	0
Issue of shares to a consultant	0	75,000	(75,000)	0	0
Share issue costs	(399,425)	(399,425)	0	0	0
Share-based payment expense	1,108,090	0	1,108,090	0	0
Ending balance at Dec. 31, 2023	$ 30,175,761	$ 78,897,119	$ 14,407,699	$ (437,210)	$ (62,691,847)

Condensed Consolidated Statem_4

Condensed Consolidated Statement of Cash Flows - USD ($)	6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities
Receipts from customers	$ 25,415	$ 0
Payments to suppliers and employees	(8,158,175)	(7,625,235)
Interest received	210,558	46,412
Interest paid	(52,665)	(12,137)
Net cash flows used in operating activities	(7,974,867)	(7,590,960)
Cash flows from investing activities
Purchase of property, plant and equipment	(2,005,366)	(1,179,703)
Purchase of exploration and evaluation assets	(2,841,692)	(418,200)
Net cash flows used in investing activities	(4,847,058)	(1,597,903)
Cash flows from financing activities
Proceeds from issue of shares	18,827,852	16,239,070
Share issue costs	(399,425)	(992,340)
Repayment of borrowings	(2,928)	(2,751)
Payment of principal portion of lease liabilities	(198,121)	(338,366)
Net cash flows from financing activities	18,227,378	14,905,613
Net increase in cash and cash equivalents	5,405,453	5,716,750
Net foreign exchange differences	(13,442)	49,225
Cash and cash equivalents at the beginning of the period	11,937,941	5,672,551
Cash and cash equivalents at the end of the period	$ 17,329,952	$ 11,438,526

MATERIAL ACCOUNTING POLICY INFO

MATERIAL ACCOUNTING POLICY INFORMATION	6 Months Ended
	Dec. 31, 2023
MATERIAL ACCOUNTING POLICY INFORMATION [Abstract]
MATERIAL ACCOUNTING POLICY INFORMATION	1. MATERIAL ACCOUNTING POLICY 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, 2023 consisted of the exploration and development of its mineral properties in the United States and the research and development of its associated metals technologies to support an integrated titanium processing operation. The unaudited interim condensed consolidated financial statements of IperionX and its subsidiaries (the “Consolidated Entity” or the “Group”) for the six m onths ended December 31, 2023 (the “Interim Financial Statements”) were authorised for issue in accordance with a resolution of the Directors on March 14, 2024. Basis of preparation The Interim Financial Statements have been prepared in accordance with AASB 134 Interim Financial Reporting Corporations Act 2001 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, 2024. 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, 2023. 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, 2023, 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$12,821,925 for the six months ended December 31, 2023 (December 31, 2022: US$9,188,863). At December 31, 2023, the Group had cash and cash equivalents of US$17,329,952 (December 31, 2022: US$11,438,526). 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 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 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. These matters indicate that there is a material uncertainty related to events or conditions that may cast significant 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 of the view that the Group will be able to raise additional funds as required to meet its obligations as and when they fall due and that the use of the going concern basis remains appropriate. New standards, interpretations and amendments 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, 2023. 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, 2023
SEGMENT INFORMATION [Abstract]
SEGMENT INFORMATION	2. SEGMENT INFORMATION AASB 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, 2023
DIVIDENDS PAID OR PROVIDED FOR [Abstract]
DIVIDENDS PAID OR PROVIDED FOR	3. DIVIDENDS PAID OR PROVIDED FO R No dividend has been paid or provided for during the six months ended December 31, 2023 (December 31, 2022: nil

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	6 Months Ended
	Dec. 31, 2023
PROPERTY, PLANT AND EQUIPMENT [Abstract]
PROPERTY, PLANT AND EQUIPMENT	4. PROPERTY, PLANT AND EQUIPMENT Plant and equipment US$ Right-of-use assets US$ Total US$ December 31, 2023 Carrying value at July 1, 2023 2,822,765 1,167,018 3,989,783 Additions 2,005,366 907,843 2,913,209 Disposals (2,030,083 ) - (2,030,083 ) Depreciation (49,510 ) (242,878 ) (292,388 ) Carrying amount at December 31, 2023 2,748,538 1,831,983 4,580,521 - at cost 3,009,884 2,451,719 5,461,603 - accumulated depreciation (261,346 ) (619,736 ) (881,082 ) June 30, 2023 Carrying value at July 1, 2022 922,118 465,868 1,387,986 Additions 2,077,794 950,537 3,028,331 Depreciation (177,147 ) (249,387 ) (426,534 ) Carrying amount at June 30, 2023 2,822,765 1,167,018 3,989,783 - at cost 3,034,599 1,543,876 4,578,475 - accumulated depreciation (211,834 ) (376,858 ) (588,692 )

EXPLORATION AND EVALUATION ASSE

EXPLORATION AND EVALUATION ASSETS	6 Months Ended
	Dec. 31, 2023
EXPLORATION AND EVALUATION ASSETS [Abstract]
EXPLORATION AND EVALUATION ASSETS	5. EXPLORATION AND EVALUATION ASSETS Titan Project US$ December 31, 2023 Carrying value at July 1, 2023 3,059,021 Additions 2,841,692 Carrying amount at December 31, 2023 (1) 5,900,713 June 30, 2023 Carrying value at July 1, 2022 2,431,229 Additions 627,792 Carrying amount at June 30, 2023 (1) 3,059,021 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.

TRADE AND OTHER PAYABLES

TRADE AND OTHER PAYABLES	6 Months Ended
	Dec. 31, 2023
TRADE AND OTHER PAYABLES [Abstract]
TRADE AND OTHER PAYABLES	6. TRADE AND OTHER PAYABLES December 31, 2023 US$ June 30, 2023 US$ Current Trade payables 1,068,905 711,011 Accruals 1,100,562 455,241 Employee benefits 16,158 14,732 Total trade and other payables 2,185,625 1,180,984

LOANS AND BORROWINGS

LOANS AND BORROWINGS	6 Months Ended
	Dec. 31, 2023
LOANS AND BORROWINGS [Abstract]
LOANS AND BORROWINGS	7. LOANS AND BORROWINGS December 31, 2023 US$ June 30, 2023 US$ Current Lease liabilities 434,314 376,655 Other loans and borrowings 6,168 5,971 Total current loans and borrowings 440,482 382,626 Non-current Lease liabilities 1,219,860 567,796 Other loans and borrowings 21,766 24,892 Total non-current loans and borrowings 1,241,626 592,688 Total loans and borrowings 1,682,108 975,314

CONTRIBUTED EQUITY

CONTRIBUTED EQUITY	6 Months Ended
	Dec. 31, 2023
CONTRIBUTED EQUITY [Abstract]
CONTRIBUTED EQUITY	8. CONTRIBUTED EQUITY Issued capital December 31, 2023 US$ June 30, 2023 US$ 224,297,550 193,493,973 78,897,119 58,764,248 78,897,119 58,764,248 Movements in issued capital No. of Ordinary Shares No. of Class A Performance Shares No. of Class B Performance Shares US$ December 31, 2023 Opening balance at July 1, 2023 193,493,973 19,800,000 19,800,000 58,764,248 Issue of shares - share placement 21,000,000 - - 17,088,750 Issue of shares - exercise of options 9,331,823 - - 3,127,752 Issue of shares - conversion of rights 13,755 - - 15,059 Issue of shares - conversion of RSUs 341,461 - - 225,735 Issue of shares to a consultant 116,538 - - 75,000 Share issue costs - - - (399,425 ) Closing balance at December 31, 2023 224,297,550 19,800,000 19,800,000 78,897,119 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

RESERVES

RESERVES	6 Months Ended
	Dec. 31, 2023
RESERVES [Abstract]
RESERVES	9. RESERVES Reserves December 31, 2023 US$ June 30, 2023 US$ Share based payments reserve 14,407,699 15,004,052 Foreign currency translation reserve (437,210 ) (1,008,244 ) Total reserves 13,970,489 13,995,808 Movements share based payments reserve No. of Unlisted Options No. of Performance Rights No. of RSUs US$ December 31, 2023 Opening balance at July 1, 2023 23,011,372 28,746,000 824,371 15,004,052 Grant of employee incentive securities - 3,921,000 405,124 - Exercise of options (9,362,000 ) - - (1,388,649 ) Conversion of RSUs - - (341,461 ) (225,735 ) Conversion of performance rights - (21,000 ) - (15,059 ) Issue of shares to a consultant - - - (75,000 ) Share-based payments expense - - - 1,108,090 Closing balance at December 31, 2023 13,649,372 32,646,000 888,034 14,407,699 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 payment expense - - - 1,566,231 Closing balance at December 31, 2022 24,511,372 28,755,000 824,371 14,666,453

SUBSIDIARIES

SUBSIDIARIES	6 Months Ended
	Dec. 31, 2023
SUBSIDIARIES [Abstract]
SUBSIDIARIES	10. SUBSIDIARIES Equity Interest Country of Incorporation December 31, 2023 % June 30, 2023 % 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, 2023
CONTINGENT ASSETS AND LIABILITIES [Abstract]
CONTINGENT ASSETS AND LIABILITIES	11. CONTINGENT ASSETS AND LIABILITIES Titan Project At December 31, 2023, 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 9,576 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, 2023, 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 paid in January 2023, US$1,500,000 paid in June 2023, US$500,000 paid in January 2024, US$500,000 payable in July 2024, and US$2,000,000 satisfied through the issue of shares in IperionX in January 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, 2023
SUBSEQUENT EVENTS AFTER BALANCE DATE [Abstract]
SUBSEQUENT EVENTS AFTER BALANCE DATE	12. SUBSEQUENT EVENTS AFTER BALANCE DATE (a) On January 30, 2024, the Company issued 3,006,163 shares to nominees of Blacksand Technology LLC (“Blacksand”) in lieu of future cash option payments totaling US$2,000,000 owed to Blacksand under the option agreement between the Company and Blacksand pursuant to which the Company has the exclusive option to acquire the intellectual property rights of Blacksand to certain patented titanium technologies. Other than as outlined above, at the date of this report there are no other significant events occurring after balance date requiring disclosure.

MATERIAL ACCOUNTING POLICY IN_2

MATERIAL ACCOUNTING POLICY INFORMATION (Policies)	6 Months Ended
	Dec. 31, 2023
MATERIAL ACCOUNTING POLICY INFORMATION [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, 2023 consisted of the exploration and development of its mineral properties in the United States and the research and development of its associated metals technologies to support an integrated titanium processing operation. The unaudited interim condensed consolidated financial statements of IperionX and its subsidiaries (the “Consolidated Entity” or the “Group”) for the six m onths ended December 31, 2023 (the “Interim Financial Statements”) were authorised for issue in accordance with a resolution of the Directors on March 14, 2024.
Basis of preparation	Basis of preparation The Interim Financial Statements have been prepared in accordance with AASB 134 Interim Financial Reporting Corporations Act 2001 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, 2024. 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, 2023. 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, 2023, 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$12,821,925 for the six months ended December 31, 2023 (December 31, 2022: US$9,188,863). At December 31, 2023, the Group had cash and cash equivalents of US$17,329,952 (December 31, 2022: US$11,438,526). 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 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 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. These matters indicate that there is a material uncertainty related to events or conditions that may cast significant 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 of the view that the Group will be able to raise additional funds as required to meet its obligations as and when they fall due and that the use of the going concern basis remains appropriate.
New standards, interpretations and amendments	New standards, interpretations and amendments 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, 2023. 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.

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	6 Months Ended
	Dec. 31, 2023
PROPERTY, PLANT AND EQUIPMENT [Abstract]
Property, Plant and Equipment	Plant and equipment US$ Right-of-use assets US$ Total US$ December 31, 2023 Carrying value at July 1, 2023 2,822,765 1,167,018 3,989,783 Additions 2,005,366 907,843 2,913,209 Disposals (2,030,083 ) - (2,030,083 ) Depreciation (49,510 ) (242,878 ) (292,388 ) Carrying amount at December 31, 2023 2,748,538 1,831,983 4,580,521 - at cost 3,009,884 2,451,719 5,461,603 - accumulated depreciation (261,346 ) (619,736 ) (881,082 ) June 30, 2023 Carrying value at July 1, 2022 922,118 465,868 1,387,986 Additions 2,077,794 950,537 3,028,331 Depreciation (177,147 ) (249,387 ) (426,534 ) Carrying amount at June 30, 2023 2,822,765 1,167,018 3,989,783 - at cost 3,034,599 1,543,876 4,578,475 - accumulated depreciation (211,834 ) (376,858 ) (588,692 )

EXPLORATION AND EVALUATION AS_2

EXPLORATION AND EVALUATION ASSETS (Tables)	6 Months Ended
	Dec. 31, 2023
EXPLORATION AND EVALUATION ASSETS [Abstract]
Exploration and Evaluation Assets	Titan Project US$ December 31, 2023 Carrying value at July 1, 2023 3,059,021 Additions 2,841,692 Carrying amount at December 31, 2023 (1) 5,900,713 June 30, 2023 Carrying value at July 1, 2022 2,431,229 Additions 627,792 Carrying amount at June 30, 2023 (1) 3,059,021 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.

TRADE AND OTHER PAYABLES (Table

TRADE AND OTHER PAYABLES (Tables)	6 Months Ended
	Dec. 31, 2023
TRADE AND OTHER PAYABLES [Abstract]
Trade and Other Payables	December 31, 2023 US$ June 30, 2023 US$ Current Trade payables 1,068,905 711,011 Accruals 1,100,562 455,241 Employee benefits 16,158 14,732 Total trade and other payables 2,185,625 1,180,984

LOANS AND BORROWINGS (Tables)

LOANS AND BORROWINGS (Tables)	6 Months Ended
	Dec. 31, 2023
LOANS AND BORROWINGS [Abstract]
Loans and Borrowings	December 31, 2023 US$ June 30, 2023 US$ Current Lease liabilities 434,314 376,655 Other loans and borrowings 6,168 5,971 Total current loans and borrowings 440,482 382,626 Non-current Lease liabilities 1,219,860 567,796 Other loans and borrowings 21,766 24,892 Total non-current loans and borrowings 1,241,626 592,688 Total loans and borrowings 1,682,108 975,314

CONTRIBUTED EQUITY (Tables)

CONTRIBUTED EQUITY (Tables)	6 Months Ended
	Dec. 31, 2023
CONTRIBUTED EQUITY [Abstract]
Issued Capital	Issued capital December 31, 2023 US$ June 30, 2023 US$ 224,297,550 193,493,973 78,897,119 58,764,248 78,897,119 58,764,248
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, 2023 Opening balance at July 1, 2023 193,493,973 19,800,000 19,800,000 58,764,248 Issue of shares - share placement 21,000,000 - - 17,088,750 Issue of shares - exercise of options 9,331,823 - - 3,127,752 Issue of shares - conversion of rights 13,755 - - 15,059 Issue of shares - conversion of RSUs 341,461 - - 225,735 Issue of shares to a consultant 116,538 - - 75,000 Share issue costs - - - (399,425 ) Closing balance at December 31, 2023 224,297,550 19,800,000 19,800,000 78,897,119 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

RESERVES (Tables)

RESERVES (Tables)	6 Months Ended
	Dec. 31, 2023
RESERVES [Abstract]
Reserves	Reserves December 31, 2023 US$ June 30, 2023 US$ Share based payments reserve 14,407,699 15,004,052 Foreign currency translation reserve (437,210 ) (1,008,244 ) Total reserves 13,970,489 13,995,808
Movements Share-based Payments Reserve	Movements share based payments reserve No. of Unlisted Options No. of Performance Rights No. of RSUs US$ December 31, 2023 Opening balance at July 1, 2023 23,011,372 28,746,000 824,371 15,004,052 Grant of employee incentive securities - 3,921,000 405,124 - Exercise of options (9,362,000 ) - - (1,388,649 ) Conversion of RSUs - - (341,461 ) (225,735 ) Conversion of performance rights - (21,000 ) - (15,059 ) Issue of shares to a consultant - - - (75,000 ) Share-based payments expense - - - 1,108,090 Closing balance at December 31, 2023 13,649,372 32,646,000 888,034 14,407,699 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 payment expense - - - 1,566,231 Closing balance at December 31, 2022 24,511,372 28,755,000 824,371 14,666,453

SUBSIDIARIES (Tables)

SUBSIDIARIES (Tables)	6 Months Ended
	Dec. 31, 2023
SUBSIDIARIES [Abstract]
Subsidiaries	Equity Interest Country of Incorporation December 31, 2023 % June 30, 2023 % 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 %

MATERIAL ACCOUNTING POLICY IN_3

MATERIAL ACCOUNTING POLICY INFORMATION, Corporate information (Details)	Dec. 31, 2023 shares
Corporate information [Abstract]
Number of ordinary shares listed on each securities exchange (in shares)	10

MATERIAL ACCOUNTING POLICY IN_4

MATERIAL ACCOUNTING POLICY INFORMATION, Basis of Preparation (Details) - USD ($)	6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2023	Jun. 30, 2022
Basis of preparation [Abstract]
Net cash outflows from operating and investing activities	$ 12,821,925	$ 9,188,863
Cash and cash equivalents	$ 17,329,952	$ 11,438,526	$ 11,937,941	$ 5,672,551

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details)	6 Months Ended
	Dec. 31, 2023 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, 2023	Dec. 31, 2022
DIVIDENDS PAID OR PROVIDED FOR [Abstract]
Dividends paid	$ 0	$ 0
Dividends proposed	$ 0	$ 0

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($)	6 Months Ended	12 Months Ended
	Dec. 31, 2023	Jun. 30, 2023
Reconciliation of changes in property, plant and equipment [abstract]
Carrying value, beginning balance	$ 3,989,783	$ 1,387,986
Additions	2,913,209	3,028,331
Disposals	(2,030,083)
Depreciation	(292,388)	(426,534)
Carrying amount, ending balance	4,580,521	3,989,783
At Cost [Member]
Reconciliation of changes in property, plant and equipment [abstract]
Carrying value, beginning balance	4,578,475
Carrying amount, ending balance	5,461,603	4,578,475
Accumulated Depreciation [Member]
Reconciliation of changes in property, plant and equipment [abstract]
Carrying value, beginning balance	(588,692)
Carrying amount, ending balance	(881,082)	(588,692)
Plant and Equipment [Member]
Reconciliation of changes in property, plant and equipment [abstract]
Carrying value, beginning balance	2,822,765	922,118
Additions	2,005,366	2,077,794
Disposals	(2,030,083)
Depreciation	(49,510)	(177,147)
Carrying amount, ending balance	2,748,538	2,822,765
Plant and Equipment [Member] | At Cost [Member]
Reconciliation of changes in property, plant and equipment [abstract]
Carrying value, beginning balance	3,034,599
Carrying amount, ending balance	3,009,884	3,034,599
Plant and Equipment [Member] | Accumulated Depreciation [Member]
Reconciliation of changes in property, plant and equipment [abstract]
Carrying value, beginning balance	(211,834)
Carrying amount, ending balance	(261,346)	(211,834)
Right-of-use Assets [Member]
Reconciliation of changes in property, plant and equipment [abstract]
Carrying value, beginning balance	1,167,018	465,868
Additions	907,843	950,537
Disposals	0
Depreciation	(242,878)	(249,387)
Carrying amount, ending balance	1,831,983	1,167,018
Right-of-use Assets [Member] | At Cost [Member]
Reconciliation of changes in property, plant and equipment [abstract]
Carrying value, beginning balance	1,543,876
Carrying amount, ending balance	2,451,719	1,543,876
Right-of-use Assets [Member] | Accumulated Depreciation [Member]
Reconciliation of changes in property, plant and equipment [abstract]
Carrying value, beginning balance	(376,858)
Carrying amount, ending balance	$ (619,736)	$ (376,858)

EXPLORATION AND EVALUATION AS_3

EXPLORATION AND EVALUATION ASSETS (Details) - USD ($)		6 Months Ended		12 Months Ended
		Dec. 31, 2023		Jun. 30, 2023
Exploration And Evaluation Assets [Roll Forward]
Carrying amount, beginning balance		$ 3,059,021
Carrying amount, ending balance		5,900,713		$ 3,059,021
Titan Project [Member]
Exploration And Evaluation Assets [Roll Forward]
Carrying amount, beginning balance		3,059,021	[1]	2,431,229
Additions		2,841,692		627,792
Carrying amount, ending balance	[1]	$ 5,900,713		$ 3,059,021
[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.

TRADE AND OTHER PAYABLES (Detai

TRADE AND OTHER PAYABLES (Details) - USD ($)	Dec. 31, 2023	Jun. 30, 2023
Current [Abstract]
Trade payables	$ 1,068,905	$ 711,011
Accruals	1,100,562	455,241
Employee benefits	16,158	14,732
Total trade and other current payables	$ 2,185,625	$ 1,180,984

LOANS AND BORROWINGS (Details)

LOANS AND BORROWINGS (Details) - USD ($)	Dec. 31, 2023	Jun. 30, 2023
Current [Abstract]
Lease liabilities	$ 434,314	$ 376,655
Other loans and borrowings	6,168	5,971
Total current loans and borrowings	440,482	382,626
Non-current [Abstract]
Lease liabilities	1,219,860	567,796
Other loans and borrowings	21,766	24,892
Total non-current loans and borrowings	1,241,626	592,688
Total loans and borrowings	$ 1,682,108	$ 975,314

CONTRIBUTED EQUITY, Issued Capi

CONTRIBUTED EQUITY, Issued Capital (Details) - USD ($)	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022
Issued capital [abstract]
224,297,550 ordinary shares (June 30, 2023: 193,493,973)	$ 78,897,119	$ 58,764,248
Contributed Equity [Member]
Issued capital [abstract]
224,297,550 ordinary shares (June 30, 2023: 193,493,973)	$ 78,897,119	$ 58,764,248	$ 44,914,632	$ 29,782,268
Number of ordinary shares issued (in shares)	224,297,550	193,493,973

CONTRIBUTED EQUITY, Movements i

CONTRIBUTED EQUITY, Movements in Issued Capital (Details) - USD ($)	6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Movements in Issued Capital [Abstract]
Opening balance	$ 58,764,248
Issue of shares - exercise of options	1,739,103	$ 121,270
Issue of shares - conversion of RSUs	0	0
Issue of shares to consultant	0
Share issue costs	(399,425)	(992,340)
Closing balance	$ 78,897,119
Contributed Equity [Member]
Movements in Issued Capital [Abstract]
Opening balance (in shares)	193,493,973
Opening balance	$ 58,764,248	29,782,268
Issue of shares - share placement	17,088,750	16,117,800
Issue of shares - exercise of options	3,127,752	194,205
Issue of shares - conversion of rights	15,059
Issue of shares - conversion of RSUs	225,735	167,487
Issue of shares to consultant	75,000
Share issue costs	$ (399,425)	(1,347,128)
Closing balance (in shares)	224,297,550
Closing balance	$ 78,897,119	$ 44,914,632
Contributed Equity [Member] | Ordinary Shares [Member]
Movements in Issued Capital [Abstract]
Opening balance (in shares)	193,493,973	140,288,491
Issue of shares - share placement (in shares)	21,000,000	30,000,000
Issue of shares - exercise of options (in shares)	9,331,823	737,000
Issue of shares - conversion of rights (in shares)	13,755
Issue of shares - conversion of RSUs (in shares)	341,461	200,001
Issue of shares to consultant (in shares)	116,538
Closing balance (in shares)	224,297,550	171,225,492
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
Issue of shares - conversion of rights (in shares)	0
Issue of shares - conversion of RSUs (in shares)	0	0
Issue of shares to consultant (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
Issue of shares - conversion of rights (in shares)	0
Issue of shares - conversion of RSUs (in shares)	0	0
Issue of shares to consultant (in shares)	0
Closing balance (in shares)	19,800,000	19,800,000

RESERVES, Summary (Details)

RESERVES, Summary (Details) - USD ($)	Dec. 31, 2023	Jun. 30, 2023
RESERVES [Abstract]
Share based payments reserve	$ 14,407,699	$ 15,004,052
Foreign currency translation reserve	(437,210)	(1,008,244)
Total Reserve	$ 13,970,489	$ 13,995,808

RESERVES, Movements Share-based

RESERVES, Movements Share-based Payments Reserve (Details) - USD ($)	6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Movements in share based payments reserve [Abstract]
Opening balance, Share-based payments reserve	$ 15,004,052
Exercise of options	(1,739,103)	$ (121,270)
Conversion of RSUs	0	0
Issue of shares to consultant	0
Share-based payments expense	1,108,090	$ 1,566,231
Closing balance, share-based payments reserve	$ 14,407,699
Unlisted Options [Member]
Number of Options [Abstract]
Outstanding at beginning of period (in shares)	23,011,372	23,824,000
Grant of employee incentive securities (in shares)		424,372
Exercise of options (in shares)	(9,362,000)	(737,000)
Grant of options to advisor (in shares)		1,000,000
Issue of shares to a consultant (in shares)	0
Outstanding at end of period (in shares)	13,649,372	24,511,372
Performance Rights [Member]
Number of Performance Rights and Restricted Stock Units [Abstract]
Opening balance (in shares)	28,746,000	27,620,000
Grant of employee incentive securities (in shares)	3,921,000	1,135,000
Conversion of RSUs (in shares)	0	0
Conversion of performance rights (in shares)	(21,000)
Closing balance (in shares)	32,646,000	28,755,000
Restricted Stock Units [Member]
Number of Performance Rights and Restricted Stock Units [Abstract]
Opening balance (in shares)	824,371	600,000
Grant of employee incentive securities (in shares)	405,124	424,372
Conversion of RSUs (in shares)	(341,461)	(200,001)
Conversion of performance rights (in shares)	0
Closing balance (in shares)	888,034	824,371
Share Based Payments Reserve [Member]
Movements in share based payments reserve [Abstract]
Opening balance, Share-based payments reserve	$ 15,004,052	$ 12,985,856
Grant of employee incentive securities	0	0
Exercise of options	(1,388,649)	(72,935)
Conversion of RSUs	(225,735)	(167,487)
Conversion of performance rights	(15,059)
Grant of options to advisor		354,788
Issue of shares to consultant	(75,000)
Share-based payments expense	1,108,090	1,566,231
Closing balance, share-based payments reserve	$ 14,407,699	$ 14,666,453

SUBSIDIARIES (Details)

SUBSIDIARIES (Details)	6 Months Ended	12 Months Ended
	Dec. 31, 2023	Jun. 30, 2023
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)	1 Months Ended			6 Months Ended
	Jan. 31, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jan. 31, 2023 USD ($)	Dec. 31, 2023 USD ($) a Patent	Jul. 31, 2024 USD ($)	Jan. 30, 2024 USD ($)
Titan Project [Member]
Contingent Assets and Liabilities [Abstract]
Surface area of property allowed for lease or purchase (in acres) | a				9,576
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] | Subsequent Events [Member]
Contingent Assets and Liabilities [Abstract]
Additional amount to be paid upon exercise of option to purchase						$ 2,000,000
Blacksand [Member] | Option Period One [Member]
Contingent Assets and Liabilities [Abstract]
Payment made to purchase certain assets during option period			$ 1,500,000
Blacksand [Member] | Option Period Two [Member]
Contingent Assets and Liabilities [Abstract]
Payment made to purchase certain assets during option period		$ 1,500,000
Blacksand [Member] | Option Period Three [Member] | Subsequent Events [Member]
Contingent Assets and Liabilities [Abstract]
Payment made to purchase certain assets during option period	$ 500,000
Blacksand [Member] | Option Period Four [Member] | Forecast [Member]
Contingent Assets and Liabilities [Abstract]
Additional amount to be paid upon exercise of option to purchase					$ 500,000
Blacksand [Member] | Option Period Five [Member] | Subsequent Events [Member]
Contingent Assets and Liabilities [Abstract]
Additional amount to be paid upon exercise of option to purchase						$ 2,000,000

SUBSEQUENT EVENTS AFTER BALAN_2

SUBSEQUENT EVENTS AFTER BALANCE DATE (Details) - Blacksand [Member] - USD ($)	Jan. 30, 2024	Dec. 31, 2023
SUBSEQUENT EVENTS AFTER BALANCE DATE [Abstract]
Additional amount to be paid upon exercise of option to purchase		$ 6,000,000
Subsequent Events [Member]
SUBSEQUENT EVENTS AFTER BALANCE DATE [Abstract]
Number of shares issued (in shares)	3,006,163
Additional amount to be paid upon exercise of option to purchase	$ 2,000,000