In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small gain. At the time of writing, the benchmark index is up slightly to 7,239.5 points.
Four ASX shares that are climbing more than most are listed below. Here's why they are storming higher:
Core Lithium Ltd (ASX: CXO)
The Core Lithium share price is up 7.5% to 86.5 cents. Investors have been buying this lithium miner's shares after it released an update on the maiden shipment of spodumene concentrate from the Finniss Lithium Operation in the Northern Territory. Core Lithium revealed that its first 3,500 tonne shipment is ready for export to Yahua in China. This was ahead of schedule, with management previously expecting it to be ready by the end of the month.
Red 5 Limited (ASX: RED)
The Red 5 share price is up 10% to 16.5 cents. This has been driven by the gold miner announcing record production for the month of March. Red 5 produced 17,550 ounces of gold from the King of the Hills Gold Mine in the Eastern Goldfields region of Western Australia. This puts it on course to achieve its second half production guidance of 90,000 to 105,000 ounces at an AISC of A$1,750 to A$1,950 per ounce.
Seek Ltd (ASX: SEK)
The Seek share price is up almost 4% to $24.91. Investors have been buying this job listings company's shares after brokers responded positively to its guidance update. Macquarie was pleased with its longer term growth plans and has upgraded its shares to an outperform rating with a $32.50 price target.
Viva Energy Group Ltd (ASX: VEA)
The Viva Energy share price is up 4.5% to $3.22. This morning, this fuel retailer announced an agreement to acquire OTR Group for $1.15 billion. It is a leading independent convenience retailer in Australia, generating more than $3 billion of revenue annually and employing approximately 6,500 people.
