ASX-listed Hyperion Metals Limited plans to pursue a listing on a national securities exchange in the US and will change its name to IperionX.
Listing on a national securities exchange in the US is expected to enhance the visibility and accessibility of Hyperion to the extensive retail and institutional investors market in the US and enable new and existing US investors to trade Hyperion’s American depositary shares in dollars and during normal US trading hours.
As a result of the proposed US listing, the company will seek shareholder approval to change its name, as there is a potential conflict in the US with the company’s existing name that has been recently identified.
“The proposed listing is expected to create greater awareness of our US-focused critical minerals and metals technologies in the US, providing exposure to enormous investor demand in a market which has a deep understanding for advanced technologies that support global decarbonisation efforts, such as Hyperion’s low-carbon titanium metal technologies.
"We believe access to a much larger pool of capital will provide the potential for increased liquidity and enhanced value for our shareholders,” says CEO and MD Anastasios Arima.
Hyperion owns the Titan project, comprising titanium and zircon-prospective heavy mineral sands properties in Tennessee, in the US.
The company notes on its website that the project is strategically located near manufacturing capacity, providing a significant logistical advantage over current US supplies of imported titanium feedstock.
Specifically, the project is about 15 km from Chemours’ New Johnsonville pigment plant, one of the largest pigment plants globally and within a low-cost barge, truck or rail-served distance to all other major US titanium pigment and metal plants.