IperionX Ltd (ASX: IPX) shares are racing higher on Monday after the company released an update before the market opened.
At the time of writing, the IperionX share price is up a sizeable 9.96% to $5.63.
That takes its gain over the past 12 months to more than 40% and gives the company a market capitalisation of around $1.9 billion.
Clearly, investors liked what they saw in this morning’s announcement.
So, what has the company revealed?
IperionX makes another move in Tennessee
According to the release, IperionX has agreed to buy assets connected to Covia Solutions’ silica sand operation in Camden, Tennessee.
The site sits beside IperionX’s Titan Project and is part of the same McNairy mineral system.
The company will pay US$3 million in cash, with the deal expected to be completed after several standard administrative steps are completed.
The acquisition includes mining and processing equipment, buildings, rail infrastructure, mineral rights, and existing stockpiles.
IperionX will also pick up around 1,400 acres of owned land and another 1,400 acres of leased property.
Management believes bringing the two sites together could give the company more options as it works out how to develop the wider area.
What could IperionX gain from the deal?
The acquisition gives IperionX access to stockpiles created during decades of silica sand production at Camden.
The company now plans to test this pre-processed material as a possible source of mineral-bearing feedstock.
It will also look at lower geological horizons that weren’t the focus of previous mining efforts.
IperionX said these areas may contain higher concentrations of heavy minerals, including zircon, rutile, and rare earth-bearing monazite and xenotime.
However, there’s no guarantee the material will prove commercially useful.
The company still needs to complete drilling, sampling, mineral analysis, and other technical studies before deciding how the assets could be used.
Why investors are buying
The deal gives IperionX control of an established industrial site beside its main Tennessee project for US$3 million.
The equipment, transport links, and stockpiles already in place could save time and money if the company moves ahead with further development.
The deal also supports IperionX’s plans to build a US supply chain covering critical minerals, titanium metal, and advanced manufactured products.
The company ended the March quarter with US$48.2 million in cash, putting the purchase price at just over 6% of its cash balance.
But there is still plenty of work to do before Camden makes a meaningful contribution.
The post Why this ASX 300 stock is jumping 10% today? appeared first on The Motley Fool Australia.
Should you invest $1,000 in IperionX Ltd right now?
Before you buy IperionX Ltd shares, consider this:
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and IperionX Ltd wasn’t one of them.
The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
And right now, Scott thinks there are 5 stocks that may be better buys…
* Returns as of 20 Feb 2026
.custom-cta-button p {
margin-bottom: 0 !important;
}
More reading
- IperionX snaps up rare earths assets to strengthen U.S. critical minerals position
- 7 ASX shares set to soar 30% to 90% in 12 months: experts
- Brokers name 3 ASX shares to buy right now
- Brokers name 3 ASX shares poised for 52% to 78% gains
- With 46% potential upside, this ASX materials stock is a compelling buy
Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.