The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to make it two consecutive days of gains. In afternoon trade the benchmark index has followed the lead of international markets and is up 0.7% to 5,753 points.
Four shares which have caught the eye today with impressively strong gains are listed below. Here's why they are higher:
The Alderan Resources Ltd (ASX: AL8) share price is up 15% to $1.83 after the metal exploration company announced the preliminary results of its induced polarisation survey. According to the release, the survey appears to have uncovered an extremely large, preserved, and mineralised porphyry copper system at its Cactus Canyon prospect in the United States.
The Avz Minerals Ltd (ASX: AVZ) share price has gained 7% to 15.5 cents after the exploration company provided an update on its drilling program at its Manono Lithium Project in the Democratic Republic of Congo. According to the release, its latest drilling result confirms that Manono is a world class asset in both size and grade. Avz Minerals could be one to watch in my opinion.
The Galaxy Resources Limited (ASX: GXY) share price is up 9% to $2.59 despite there being no news out of the lithium miner. Today's gain could be in relation to news that China plans to ban the production and sale of petrol and diesel engine vehicles in the future. Whilst it may still be some way off, it is expected to accelerate the adoption of electric vehicles, potentially causing demand for lithium to rise strongly.
The GetSwift Ltd (ASX: GSW) share price has surged almost 18% to $2.04 after the logistics software platform provider announced a major agreement with N.A. Williams in the United States. According to management, the deal has the potential to generate over $138 million in recurring revenues each year. Although its shares have rallied strongly this year, I believe this deal could mean that GetSwift's shares are still good value.
