4 shares jumping on the ASX today

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has dropped 0.5% today, although the market has recovered from the heavy falls at the open.

Not that these four companies care, with their share prices jumping more than 9%…

Syntonic Ltd (ASX: SYT) saw its share price jump 12.8% to 5.3 cents. The company’s share price is up more than 80% in the past month, after announcing an agreement with Verizon Wireless in the US to enable its Freeway product on Verizon’s FreeBee Perks platform. Freeway gives consumers sponsored access to applications and content – currently only on Android phones, but an iOS version is in the works.

Alkane Resources Limited (ASX: ALK) saw its share price rise 9.1% to 48 cents, despite the spot gold price going nowhere overnight. Alkane produces gold from its Tomingley gold operation in NSW, but is also developing its Dubbo Zirconia project. The company recently reported all-in sustaining costs for the 2016 financial year of $1,256 an ounce, which is comparatively high to other Australian producers, although still allowing the company to produce a net profit of $4.7 million.

Lucapa Diamond Co Ltd (ASX: LOM) has added another 12.2% to 46 cents, following a strong run this month. The diamond miner has made a number of significant announcements including the discovery of two huge diamonds of over 100 carats in the past two weeks. Lucapa is the operator and 40% owner of the Lulo diamond mine in Angola, Africa.

Western Areas Ltd (ASX: WSA) saw its share price gain 10.9% to $3.16. The nickel miner’s shares are up 40% so far this year including more than 20% so far in September, despite it being on the top 10 most shorted stocks list. But a recovery in nickel prices appears likely due to supply disruptions including an environmental audit in the Philippines and increased steel output this year, which could boost Western Area’s revenues and earnings.

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Motley Fool writer/analyst Mike King doesn't own shares in any companies mentioned. You can follow Mike on Twitter @TMFKinga

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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