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Why Ausdrill, Australian Mines, Creso Pharma, and TPG Telecom shares stormed higher today

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has continued its positive run and in afternoon trade is on course to post another solid gain. At the time of writing the benchmark index is up 0.3% to 5,897.8 points.

Four shares that are climbing more than most today are listed below. Here’s why they have started the week with a bang:

The Ausdrill Limited (ASX: ASL) share price has pushed 4.5% higher to $1.36 after announcing that it has secured mining services contracts worth a total of $171 million. One of these contracts is a three-year underground mining services contract at the Rosemont Gold Project from Regis Resources Limited (ASX: RRL) worth approximately $113 million.

The Australian Mines Limited (ASX: AUZ) share price has jumped 7% higher to 4.7 cents after the mineral exploration company announced high grade cobalt and nickel intersections from its Sconi Resource extension drilling. Management advised that expansion drilling appears to frequently intersect cobalt-rich zones with grades higher than 0.5% cobalt, which it believes suggests that the Sconi Cobalt-Nickel-Scandium Project is continuing to live up to its status as a world-class deposit.

The Creso Pharma Ltd (ASX: CPH) share price has surged almost 7% higher to 56 cents after the diversified cannabis company announced a supply agreement with TerrAscend Canada for a minimum of 100 kgs of cannabis flower per month. This agreement means that Creso has committed a large portion of its capacity to TerrAscend in order to meet strong consumer demand for cannabis products.

The TPG Telecom Ltd (ASX: TPM) share price is up 5% to $7.21 despite there being no news out of the telco company. This latest gain means that the TPG Telecom share price has now rallied over 16% since this time last month. As a comparison, the Telstra Corporation Ltd (ASX: TLS) share price is up 7% during the period, roughly in line with the ASX 200.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Telstra Limited. The Motley Fool Australia has recommended TPG Telecom Limited. 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 Scott Phillips.

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