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 0.15% to 7,372.9 points.
Four ASX shares that are climbing more than most today are listed below. Here's why they are racing higher:
EML Payments Ltd (ASX: EML)
The EML share price is up 16% to 66.5 cents. This morning, this struggling payments company announced the exit of its CEO and the scrapping of its previously announced strategy. Investors appear pleased with its temporary CEO, new strategy, and a strategic review that will look at selling parts or all of its businesses.
Lake Resources N.L. (ASX: LKE)
The Lake Resources share price has jumped over 18% to 54.5 cents. This follows the announcement of another major milestone at the lithium developer's Kachi project in Argentina. The company revealed that it produced 2,500 kilograms of lithium carbonate equivalents through its ion exchange technology.
Lindsay Australia Ltd (ASX: LAU)
The Lindsay Australia share price is up 19% to $1.25. This morning, this logistics company made a big upgrade to its earnings guidance for FY 2023. It now expects underlying EBITDA of $85 million to $90 million, compared to previous guidance of $68 million to $71 million.
Sayona Mining Ltd (ASX: SYA)
The Sayona Mining share price is up 11% to 21.7 cents. This has been driven by the lithium miner announcing a major increase to the mineral resource estimate of its Canadian operation. Management estimates that the Moblan Lithium Project represents one of North America's single largest lithium resources.
