In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a decent gain. At the time of writing, the benchmark index is up 0.7% to 7,171.7 points.
Four ASX shares that are climbing more than most today are listed below. Here's why they are charging higher:
IGO Ltd (ASX: IGO)
The IGO share price is up 4.5% to $12.33. Investors have been buying this battery materials producer's shares following a strong night of trade for base metals. The highlight was arguably the nickel price, which according to CommSec rose by 3.6% to US$26,489 per tonne overnight. IGO owns and operates the Nova nickel-copper-cobalt operation in Western Australia.
Lake Resources N.L. (ASX: LKE)
The Lake Resources share price is up 6% to $1.03. This morning the lithium developer revealed that the demonstration plant has been assembled and dispatched from California to the Kachi Project by Lake Resources' technical partner, Lilac Solutions. Management notes that the disruptive lithium processing technology cuts operating costs and boosts lithium recovery from Kachi Project brines, while protecting scare water resources.
Talga Group Ltd (ASX: TLG)
The Talga share price has jumped 9.5% to $1.51. Investors have been buying the graphite producer's shares following the release of an update on drilling activities at its Vittangi Graphite Project in northern Sweden. Management notes that its drilling activities have returned world-class grades, which it believes paves the way to upgrade Europe's largest natural graphite resource for Li-ion batteries.
Whitehaven Coal Ltd (ASX: WHC)
The Whitehaven Coal share price has risen 10% to $3.93. This coal miner's shares have been in demand with investors after coal prices surged higher. For example, according to CommSec, the thermal coal price rocketed 40% to a record high of US$440 per tonne. This is being driven by European economies seeking alternatives to Russian natural gas.
