The S&P/ASX 200 Index (ASX: XJO) has fought back from a morning decline and is pushing higher. In afternoon trade, the benchmark index is up 0.1% to 7,198.7 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:
Image source: Getty Images
Delta Lithium Ltd (ASX: DLI)
The Delta Lithium share price is up 7% to 74.5 cents. This morning, this lithium explorer announced the appointment of Mineral Resources Ltd (ASX: MIN) founder and CEO, Chris Ellison, as its new non-executive chair with immediate effect. Mineral Resources has also increased its stake in Delta Lithium to 17.44%.
Develop Global Ltd (ASX: DVP)
The Develop Global share price is up over 7% to $2.96. This has been driven by the release of an updated mine plan for its flagship 100% owned Woodlawn Copper-Zinc Project in New South Wales. The mine plan shows that Woodlawn is set to generate strong financial returns, with a pre-tax internal rate of return of 367% and free cash flow of $626 million over a seven-year mine life.
Novonix Ltd (ASX: NVX)
The Novonix share price is up 6% to 77 cents. This follows the release of the results of an engineering study on its proprietary all-dry, zero-waste cathode synthesis process. The study found that Novonix's process may potentially reduce power consumption by an estimated 25% and practically eliminate waste by-product generation over the conventional process.
Select Harvests Ltd (ASX: SHV)
The Select Harvests share price is up 8% to $4.35. Investors have been buying this almond producer's shares following the release of a market update. Management revealed that the 2024 farming outlook is positive and a good 2024 crop will quickly generate cash.
