Australia's IperionX rises on $99 million contract from US DOD

Shares of IperionX IPX.AX rise 19.41% to A$4.43, set for their strongest session since mid-June 2023

Shares of co hit their highest since February 21

Mineral explorer says it has been awarded an innovation research contract by the U.S. Department of Defence for $99 million

Says, contract is in support of achieving "low-cost domestic titanium" for defence applications in the U.S.

Stock down 32.6% YTD as of the last close