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Why these 4 ASX shares have posted strong gains today

In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has climbed off its lows and is flat at 5,764 points.

Four shares which haven’t let this hold them back are listed below. Here’s why there are climbing higher today:

The Galaxy Resources Limited (ASX: GXY) share price is up 9% to $2.03. This morning the lithium miner provided an update on its Mt Cattlin operation. According to the release, in June production at Mt Cattlin reached 14,038 dry metric tonnes, based on final recoveries of 61.3%. This was well ahead of its recovery rate targets of between 50% and 55%. As I said earlier, I think Galaxy is one of the best options in the resources sector right now.

The Livetiles Ltd (ASX: LVT) share price has climbed 4% to 24 cents after the digital workplace platform provider provided an update on its FY 2017 performance. As of June 30, the company’s annualised subscription revenue had reached $4 million on the back of another record quarter. Impressively, this means that LiveTiles has grown over 6 times faster than the software-as-a-service industry. In my opinion, it is a company to keep a very close eye on.

The Perseus Mining Limited (ASX: PRU) share price is up 6% to 29.7 cents. The majority of Australia’s gold miners are climbing higher today, leading the S&P/ASX All Ords Gold (Index: ^AXGD) (ASX: XGD) up by 1.5%. Here’s why I’m bearish on the gold price right now.

The Syrah Resources Ltd (ASX: SYR) share price has jumped 11% to $3.37 despite there being no news out of the graphite producer. However, on Tuesday the company did release a positive update on its Balama Project in northern Mozambique. Overall construction progress completion was 90% as of 30 June 2017, meaning production is on target to commence in August.

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Motley Fool contributor James Mickleboro owns shares of Galaxy Resources Limited. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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