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IperionX Partners With Vegas Fastener; Universal Stainless Hits Record Margins; Century Aluminum's Sales Downturn And More: Wednesday's Top Mining Stories
Top Stories for May 1, 2024:
1. IperionX (NASDAQ:IPX) and Vegas Fastener Manufacturing have partnered to develop and manufacture titanium alloy fasteners and precision components for critical sectors, including the U.S. Army Ground Vehicle Systems Center.
This collaboration aims to create products with exceptional strength-to-weight ratios and corrosion resistance for aerospace, naval, oil and gas and other high-performance industries.
2. Q1 sales for Universal Stainless (NASDAQ:USAP) reached $77.6 million, nearly matching the previous record and showing an 18% increase from Q1 2023.
Gross margin hit a 12-year high at 18.9%, despite a $1.3 million cost from raw materials, and net income rose 59% to $4.1 million
Operations cash flow was $10.3 million, up 39%, with a $325 million backlog ...