In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week in the red. At the time of writing, the benchmark index is down 0.35% to 6,943.6 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are charging higher:
Core Lithium Ltd (ASX: CXO)
The Core Lithium share price is up 4% to 79 cents. This morning, analysts at Macquarie retained their outperform rating and $1.10 price target on this lithium miner's shares. The broker was pleased with news that the company has signed an agreement to sell additional spodumene to Sichuan Yahua.
Estia Health Ltd (ASX: EHE)
The Estia Health share price is up 14% to $2.67. This has been driven by news that the aged care operator has received a takeover approach from Bain Capital. The private equity firm has tabled a non-binding $3.00 cash per share offer, which will be adjusted for any dividends paid. This represents a 28% premium to the Estia Health share price at yesterday's close.
Kingsgate Consolidated Limited (ASX: KCN)
The Kingsgate share price is up 11% to $2.00. This morning, this gold miner announced that it has poured its first gold from the reopened Chatree mine in Thailand. Management advised that the Chatree Gold Room poured over 155,732kgs of materials in the first pour in more than 6 years. This will be now sent away for further refining.
St Barbara Ltd (ASX: SBM)
The St Barbara share price is up over 6% to 65.8 cents. This appears to have been driven by a rise in the gold price overnight. The price of the precious metal rose to almost US$2,000 an ounce amid hopes that interest rates won't rise as much as feared. The S&P/ASX All Ordinaries Gold index is up 1.9% this afternoon.
