** Shares of Australia's IperionX IPX.AX rise as much as 11.5% to A$5.710, logging their best day since May 1

** Stock hits its highest level since June 4

** Titanium alloys producer says it will acquire Camden mineral, mining and infrastructure assets, located adjacent to its Titan Critical Minerals project in the U.S.

** IPX says Camden has potential for heavy rare earth minerals

** Adds, deal for $3 million

** Stock down 1.3% this year, including the day's move