Australia's IperionX hits record high on $12.5 mln funding from U.S. govt

Shares of IperionX IPX.AX advances 5.6% to A$6.98 to their record high

Stock set for its fourth consecutive session of gains

Titanium alloys producer announces it has received $12.5 mln U.S. government funding for expansion of U.S. titanium production

Adds, the $12.5 mln will be applied to purchase orders for major capital equipment for capacity scale-up at the Virginia Titanium Manufacturing Campus

Total funding obligations received under the DoD award now stand at $17.5 mln, with the remaining $29.6 mln expected to be obligated by the U.S. Department of Defence over the contract term - co

Stock up 27.1% YTD