Recent Insider Transactions • May 01
Executive Chairman recently bought AU$2.1m worth of stock On the 29th of April, Todd Hannigan bought around 480k shares on-market at roughly AU$4.33 per share. This transaction amounted to 1.9% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth AU$2.2m. Todd has been a buyer over the last 12 months, purchasing a net total of AU$3.1m worth in shares. Announcement • Oct 01
IperionX Limited, Annual General Meeting, Nov 28, 2025 IperionX Limited, Annual General Meeting, Nov 28, 2025. Board Change • Aug 18
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 12 experienced directors. No highly experienced directors. Lead Independent Director Lorraine Martin was the last director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Announcement • Jul 29
IperionX Limited has completed a Follow-on Equity Offering in the amount of AUD 67.83385 million. IperionX Limited has completed a Follow-on Equity Offering in the amount of AUD 67.83385 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 13,566,770
Price\Range: AUD 5
Discount Per Security: AUD 0.175
Transaction Features: Subsequent Direct Listing Announcement • Jul 23
IperionX Limited has filed a Follow-on Equity Offering in the amount of AUD 70 million. IperionX Limited has filed a Follow-on Equity Offering in the amount of AUD 70 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 13,566,770
Price\Range: AUD 5
Discount Per Security: AUD 0.175
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 433,230
Price\Range: AUD 5
Discount Per Security: AUD 0.175
Transaction Features: Subsequent Direct Listing Announcement • Apr 08
IperionX Commences Titan Project DFS with US Govt. Support IperionX Limited announced the commencement of a Definitive Feasibility Study for its Titan Critical Minerals Project in Tennessee the large mineral resource (reported in accordance with the JORC Code) of titanium, rare earth, and zircon mineral sands in the United States. This final phase of feasibility is partly funded by an allocation from IperionX's recent U.S. Government award of USD 47.1 million, underscoring the strategic significance of the Titan Project in securing a fully integrated, U.S.- based 'mineral-to-metal' titanium supply chain. U.S. Government funding awarded to IperionX since January 2023 now totals over USD 60 million. The DFS is expected to be completed by Second Quarter 2026 and will include detailed mine engineering, processing flowsheet and infrastructure design. This study marks a major step in advancing the Titan Project towards production. As a leading fully permitted critical minerals project in the U.S., the Titan Project is uniquely positioned to supply low-cost, domestic critical mineral feedstocks to support future large-scale expansions of IperionX's titanium production, enhancing the strength and resilience of the U.S. titanium supply chain. It also hosts significant quantities of light and heavy rare earth elements - including dysprosium and terbium - that are vital for advanced technologies and defense systems. The Titan Project has attracted significant interest from potential strategic and commercial partners seeking secure, long term supplies of U.S. sourced critical minerals. IperionX remains on-track for the successful ramp-up of its Titanium Production Facility in Virginia. The balance of the USD 47.1 million U.S. Government funding awarded to IperionX in 2025 has also enabled the commencement of engineering and design activities for expanded titanium metal production. Announcement • Mar 11
IperionX Limited Announces Board Appointments, Effective March 17, 2025 IperionX Limited announced two significant appointments to its Board of Directors, effective from March 17, 2025. Appointment of Tony Tripeny as Non-Executive Director: Mr. Tony Tripeny joins IperionX as an independent Non-Executive Director, and brings over 40 years of financial and operational leadership in advanced manufacturing, technology and materials science. Mr. Tripeny's successful 36-year career at Corning Incorporated, included senior roles of Executive Vice President and Chief Financial Officer, as well as Senior Vice President and Corporate Controller, until his retirement in 2022. Mr. Tripeny currently serves as a Director at Mesa Laboratories and Origin Materials. He holds an economics degree from the Wharton School of Business at the University of Pennsylvania and is a member of both the Financial Executives Institute and the Institute of Management Accounting. Appointment of Lorraine Martin as Lead Independent Director: IperionX also appointed current IperionX Non-Executive Director Lorraine Martin as Lead Independent Director. Ms. Martin has over 35 years of leadership experience in the aerospace and defense industries, having held key executive roles at Lockheed Martin, including Executive Vice President and Deputy of the Rotary & Mission Systems division and Vice President & General Manager of the F-35 Lightning II Program. Currently serving as President and CEO of the National Safety Council, Ms. Martin is also a Director at Kennametal. A former U.S. Air Force officer, Ms. Martin holds a Master of Science in computer science from Boston University and a Bachelor of Arts in computational mathematics from DePauw University. Board Change • Feb 04
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 12 experienced directors. No highly experienced directors. Independent Non-Executive Director Lorraine Martin was the last director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Board Change • Dec 24
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 12 experienced directors. No highly experienced directors. Independent Non-Executive Director Lorraine Martin was the last director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Announcement • Nov 27
IperionX Limited (ASX:IPX) acquired Assets and intellectual property portfolio from Blacksand Technology LLC. IperionX Limited (ASX:IPX) acquired Assets and intellectual property portfolio from Blacksand Technology LLC on November 26, 2024.
IperionX Limited (ASX:IPX) completed the acquisition of Assets and intellectual property portfolio from Blacksand Technology LLC on November 26, 2024. New Risk • Oct 27
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 50% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (50% increase in shares outstanding). Revenue is less than US$1m. Board Change • Oct 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 12 experienced directors. No highly experienced directors. Independent Non-Executive Director Lorraine Martin was the last director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Announcement • Sep 27
IperionX Limited, Annual General Meeting, Nov 22, 2024 IperionX Limited, Annual General Meeting, Nov 22, 2024. New Risk • Sep 27
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$27m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$27m free cash flow). Revenue is less than US$1m. Minor Risk Shareholders have been diluted in the past year (34% increase in shares outstanding). Announcement • Aug 15
IperionX Achieves Major Milestone with First Successful Titanium Furnace Production Run IperionX announced the successful commissioning of the Hydrogen Assisted Metallothermic Reduction (HAMRTM) furnace, marking the first titanium de-oxygenation production run at the Titanium Manufacturing Campus in Virginia, U.S.A. This first titanium de-oxygenation production run represents a key technological milestone for the company that underpins a breakthrough +60x increase in titanium production capacity. Produced entirely from 100% scrap titanium (Ti-6Al-4V alloy, Grade 5 titanium), quality assessments confirmed a large reduction in oxygen levels from 3.42% to below 0.07%, far exceeding the ASTM standard requirement of 0.2% for Grade 5 titanium. The company's proprietary HAMR technologies offer a range of competitive advantages, including lower operating temperatures, reduced energy consumption, enhanced process efficiency, and accelerated production cycles - all achieved with lower capital investment intensity. Over the coming months, the company will commission and optimize the supporting process equipment to achieve full system production capacity in Virginia, with end-to-end system operations expected in late fourth quarter 2024. Breakeven Date Change • Jun 30
Forecast to breakeven in 2027 The 4 analysts covering IperionX expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of US$36.0m in 2027. Average annual earnings growth of 47% is required to achieve expected profit on schedule. Announcement • May 15
IperionX Limited has completed a Follow-on Equity Offering in the amount of AUD 50.000001 million. IperionX Limited has completed a Follow-on Equity Offering in the amount of AUD 50.000001 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 26,178,011
Price\Range: AUD 1.91
Discount Per Security: AUD 0.08595
Transaction Features: Subsequent Direct Listing New Risk • Mar 16
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$22m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$22m free cash flow). Revenue is less than US$1m. Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (US$9.4m net loss in 2 years). Shareholders have been diluted in the past year (33% increase in shares outstanding). Recent Insider Transactions • Jan 09
Executive Chairman recently bought AU$643k worth of stock On the 3rd of January, Todd Hannigan bought around 465k shares on-market at roughly AU$1.38 per share. This transaction amounted to 2.7% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth AU$763k. Todd has been a buyer over the last 12 months, purchasing a net total of AU$2.2m worth in shares. Announcement • Dec 21
IperionX Limited Appoints Marcela Castro as Chief Financial Officer IperionX Limited announced the appointment of Mrs. Marcela Castro as Chief Financial Officer (CFO), effective from December 21, 2023. Marcela is a highly experienced finance and operations executive with a long career in senior finance roles across a range of industries, including green technologies, industrial and consumer products, as well as natural resources. Marcela brings over 25 years of experience in accounting and financial analysis as well as considerable strategic and organization-building skills to IperionX. Marcela's career has included roles with Arthur Andersen, Colgate Palmolive, Jaguar Mining, REV Group and Proterra, including senior administration and compliance roles relating to leading the financial functions of U.S. public companies. Marcela is a U.S. citizen, holding a Bachelor of Business Administration and a MBA in Finance. Recent Insider Transactions • Nov 14
Executive Chairman recently bought AU$763k worth of stock On the 13th of November, Todd Hannigan bought around 520k shares on-market at roughly AU$1.47 per share. This transaction amounted to 3.6% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Todd has been a buyer over the last 12 months, purchasing a net total of AU$1.6m worth in shares. Announcement • Nov 10
IperionX Limited announced that it has received $16.7 million in funding from Fidelity Management & Research Company LLC, Inherent Group, LLC, B. Riley Principal Investments, LLC IperionX Limited announced that it has received an equity round of funding for gross proceeds of $16.7 million on November 8, 2023. The transaction included participation from returning investors Fidelity Management & Research Company LLC, Inherent Group, LLC, B. Riley Principal Investments, LLC, Ray Nimrod. Announcement • Sep 21
IperionX Limited, Annual General Meeting, Nov 22, 2023 IperionX Limited, Annual General Meeting, Nov 22, 2023. Announcement • Aug 29
IperionX Limited Announces Titan Project Development Update IperionX Limited announced that the Titan Critical Minerals Project (Titan Project) is fully permitted for development and operations, has received positive feasibility study metallurgical test work results, and is advancing customer offtake and strategic financing partnerships. Titan Project Fully Permitted The Tennessee Department of Environment & Conservation has now confirmed that all regulatory requirements have been met for the Titan Project and it is fully permitted for development and operations. The Titan Project, located in Tennessee, offers a leading combination of low energy costs, world class infrastructure, skilled workforce, low taxation rates, high levels of domestic demand and a wide range of U.S. government incentive and funding opportunities. The global market demand for titanium, zircon and rare earth critical minerals continues to increase, yet supply is increasingly reliant on high-risk jurisdictions with long distance, carbon intensive supply chains. The U.S. currently imports over 80% of titanium minerals and almost 100% of its separated rare earth oxides from foreign nations. Once fully developed, the Titan Project is expected to be a key domestic source of critical titanium, zirconium and rare earth minerals. This world-class project can reduce the acute reliance of critical mineral imports from foreign nations and re-build a sustainable domestic supply chain that is essential for advanced U.S. industries. Feasibility Metallurgical Test Work Confirms High Titanium & Rare Earth Minerals Recoveries IperionX has received excellent results from the feasibility study metallurgical test work program conducted by Mineral Technologies Ltd, a global leader in the mineral sands industry. This bulk metallurgical test work program was designed to confirm feasibility study level process design and critical mineral product recoveries at the Titan Project. The feasibility study level bulk metallurgical test work confirmed a material increase in recoveries of the higher value natural rutile, zircon and rare earth mineral products. Strategic & Offtake Partners - Multiple Partners, Advanced Due Diligence Multiple strategic partners have commenced due diligence on the Titan Project in preparation for sales offtake agreements and project investment opportunities. IperionX has conducted due diligence site visits for select partners and distributed product samples to a range of critical mineral customers. One of these parties – a large Japanese conglomerate – is sole funding bulk sample and due diligence test work at the Titan Project during September 2023. Announcement • Jun 16
Iperionx Achieves First Ul Validated 100% Recycled Titanium IperionX Limited announced it has achieved the UL Environmental Claim Validation Procedure 2809 for its 100% recycled, low-carbon titanium metal powder. UL Solutions (UL) is a global leader in sustainability standards, and IperionX’s low carbon titanium is the first commercial titanium metal powder for additive manufacturing to achieve UL validation for 100% recycled content. UL recycled content validation is important as titanium metal powder for additive manufacturing can only be used a limited number of times before quality is impacted by contaminants or inferior powder morphology. Out-of-specification titanium powder increases the probability of defects which jeopardize the structural integrity of additively manufactured components. Additionally, titanium metal produced by the standard “Kroll Process” is energy intensive, high cost, high carbon and is hindered by low levels of circularity. The current manufacturing process for titanium products generates large volumes of titanium waste that is downcycled to the ferro-titanium market or shipped to landfill. In contrast, IperionX titanium is low-carbon with zero scope 1 and 2 emissions. IperionX can uniquely use 100% scrap titanium as feedstock to produce high performance, low-carbon recycled titanium metal via a circular supply chain that doesn’t rely upon mined resources. IperionX recently completed a life cycle assessment (“LCA”) for its 100% recycled, low-carbon titanium metal. This LCA confirmed that IperionX’s titanium has the lowest quantified life cycle carbon footprint for commercial titanium powder, with a potential life cycle carbon footprint of just 7.8 kg of carbon dioxide equivalents (“CO2e”) per kg. This forecast carbon footprint is over 90% lower than competing titanium powders produced from plasma atomization, 80% lower than from titanium ingot produced from the Kroll process, more than 50% lower than aluminium ingot, and near equal to stainless steel ingot1. Further details and a copy of IperionX’s LCA can be accessed here. Notably, IperionX recently won the U.S. Air Force Research Laboratory Grand Challenge to produce high quality titanium metal powder from only titanium scrap feedstocks. IperionX successfully overcame a field of leading titanium companies to produce low-carbon 100% recycled titanium metal from titanium scrap or out-of-specification titanium powder feedstocks. Major companies across the automotive, defense, bicycle, consumer electronics and green hydrogen sectors desire low carbon titanium from traceable recycled sources to meet their sustainability targets. Materials selection is an important way for manufacturers to reduce the carbon intensity of their products and yet meet demanding requirements for durability, quality and performance. IperionX offers these companies a unique and valuable solution to maximise recycled content, lower carbon footprints and still produce high performance titanium products. New Risk • Jun 15
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 24% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$18m free cash flow). Share price has been highly volatile over the past 3 months (24% average weekly change). Earnings have declined by 73% per year over the past 5 years. Revenue is less than US$1m. Minor Risk Shareholders have been diluted in the past year (37% increase in shares outstanding). Recent Insider Transactions • May 09
Executive Chairman recently bought AU$842k worth of stock On the 5th of May, Todd Hannigan bought around 848k shares on-market at roughly AU$0.99 per share. This transaction amounted to 6.6% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Todd has been a buyer over the last 12 months, purchasing a net total of AU$1.4m worth in shares. Announcement • May 04
IperionX Limited has completed a Follow-on Equity Offering in the amount of AUD 20 million. IperionX Limited has completed a Follow-on Equity Offering in the amount of AUD 20 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 19,000,000
Price\Range: AUD 1
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,000,000
Price\Range: AUD 1
Transaction Features: Subsequent Direct Listing Board Change • Nov 16
High number of new and inexperienced directors There are 12 new directors who have joined the board in the last 3 years. The company's board is composed of: 12 new directors. No experienced directors. No highly experienced directors. Founder, MD, CEO & Executive Director Taso Arima is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Recent Insider Transactions • Sep 16
Executive Chairman recently bought AU$576k worth of stock On the 14th of September, Todd Hannigan bought around 644k shares on-market at roughly AU$0.89 per share. This transaction amounted to 6.2% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Todd has been a buyer over the last 12 months, purchasing a net total of AU$2.0m worth in shares. Recent Insider Transactions • May 07
Executive Chairman recently bought AU$1.1m worth of stock On the 4th of May, Todd Hannigan bought around 997k shares on-market at roughly AU$1.08 per share. This was the largest purchase by an insider in the last 3 months. Todd has been a buyer over the last 12 months, purchasing a net total of AU$2.0m worth in shares. Board Change • Apr 28
High number of new and inexperienced directors There are 11 new directors who have joined the board in the last 3 years. The company's board is composed of: 11 new directors. 1 experienced director. No highly experienced directors. Founder, MD, CEO & Executive Director Taso Arima is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Recent Insider Transactions • Dec 18
Executive Chairman recently bought AU$312k worth of stock On the 13th of December, Todd Hannigan bought around 347k shares on-market at roughly AU$0.90 per share. This was the largest purchase by an insider in the last 3 months. Todd has been a buyer over the last 12 months, purchasing a net total of AU$1.4m worth in shares. Recent Insider Transactions • May 21
Non-Executive Chairman recently bought AU$655k worth of stock On the 17th of May, Todd Hannigan bought around 664k shares on-market at roughly AU$0.99 per share. This was the largest purchase by an insider in the last 3 months. Todd has been a buyer over the last 12 months, purchasing a net total of AU$1.1m worth in shares. Recent Insider Transactions • Apr 29
Non-Executive Chairman recently bought AU$435k worth of stock On the 23rd of April, Todd Hannigan bought around 453k shares on-market at roughly AU$0.96 per share. This was the largest purchase by an insider in the last 3 months. This was Todd's only on-market trade for the last 12 months. Executive Departure • Apr 25
Non-Executive Director has left the company On the 23rd of April, Alastair Smith's tenure as Non-Executive Director ended after less than a year in the role. We don't have any record of a personal shareholding under Alastair's name. A total of 5 executives have left over the last 12 months. Is New 90 Day High Low • Mar 10
New 90-day high: AU$0.90 The company is up 275% from its price of AU$0.24 on 10 December 2020. The Australian market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 7.0% over the same period. Executive Departure • Mar 01
MD & Executive Director has left the company On the 1st of March, Patrick Glovac's tenure in the role of MD & Executive Director ended. As of December 2020, Patrick personally held 3.41m shares (AU$886k worth at the time). A total of 4 executives have left over the last 12 months. Executive Departure • Feb 18
Independent Non-Executive Director has left the company On the 18th of February, Mark Connelly's tenure as Independent Non-Executive Director ended after 3.8 years in the role. As of December 2020, Mark personally held 500.00k shares (AU$130k worth at the time). A total of 3 executives have left over the last 12 months. Is New 90 Day High Low • Jan 25
New 90-day high: AU$0.48 The company is up 57% from its price of AU$0.30 on 28 October 2020. The Australian market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 24% over the same period. Is New 90 Day High Low • Jan 10
New 90-day high: AU$0.36 The company is up 1.0% from its price of AU$0.35 on 13 October 2020. The Australian market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 23% over the same period. Announcement • Oct 08
TAO Commodities Limited (ASX:TAO) agreed to acquire Hyperion Metals Pty Ltd. TAO Commodities Limited (ASX:TAO) agreed to acquire Hyperion Metals Pty Ltd on October 6, 2020. The Consideration includes 26.5 million fully paid ordinary TAO shares at a deemed issue price of AUD 0.08 (8 cents) (“Consideration Shares”), 5 million unlisted options with an exercise price of AUD 0.20 and expiry of 5 years from their date of issue (“Consideration Options”), 18 million unlisted Class A performance shares (“Class A Performance Shares”) that convert into an equal number of ordinary shares upon completion of a positive prefeasibility study for HMS mining and processing on any of the Project area which demonstrates a net present value of at least AUD 200 million within 4 years from the date of execution of the Term Sheet (“Class A Milestone”), 18 million unlisted Class B performance shares that convert into an equal number of ordinary shares upon commencement of commercial production from the Project area, within 5 years from the date of execution of the Term Sheet, 4 million Class A performance options on the same terms and conditions as the Consideration Options that vest upon satisfaction of the Class A Milestone and 4 million Class B performance options on the same terms and conditions as the Consideration Options that vest upon satisfaction of the Class B Milestone. All consideration securities will be subject to a 12-month voluntary escrow from the Settlement Date. The Transaction is subject to TAO exercising its Option to acquire Hyperion, TAO and Hyperion completing due diligence to their satisfaction, TAO completing a capital raising of AUD 2 million at an issue price of AUD 0.08, TAO maintaining a cash balance of at least AUD 1.1 million, TAO obtaining the necessary shareholder and regulatory approvals required (including but not limited to approvals required by ASX under the Listing Rules and shareholder approval for the Acquisition and the issue of the Consideration Shares, Consideration Options, Performance Shares and Performance Options), Each remaining minority vendor (representing 31% of Hyperion) providing TAO with a duly executed share transfer form for the transfer of their Hyperion Shares to TAO and TAO and the Majority Vendors obtaining all necessary third party consents and governmental/ministerial approvals. Due Diligence has been completed to the satisfaction of TAO. TAO will advance to Hyperion a loan of AUD 0.174036 million (interest free) to be applied towards exploration work on the Project (Loan). If the Acquisition does not complete then the Loan is fully refundable within 7 days of notice from TAO. The transaction is expected to be completed by November 23, 2020. Announcement • Sep 26
TAO Commodities Limited announced that it expects to receive AUD 2 million in funding TAO Commodities Limited (ASX:TAO) announced a private placement of 25,000,000 ordinary fully paid shares at AUD 0.08 per share for gross proceeds of AUD 2,000,000 on September 24, 2020. The transaction is subject to approval from shareholders. The transaction will include participation from Patrick Glovac, a director of the company. The transaction is expected to close on November 23, 2020. 
