The S&P/ASX 200 Index (ASX: XJO) is out of form on Tuesday and on course to record a disappointing decline. In afternoon trade, the benchmark index is down 0.5% to 7,345.8 points.
Four ASX shares that are not letting that hold them back today are listed below. Here's why they are rising:
Core Lithium Ltd (ASX: CXO)
The Core Lithium share price is up 7.5% to 99.5 cents. Investors have been buying this lithium miner's shares after it announced a "fantastic outcome for shareholders." That outcome was a significant jump in its Finniss Lithium Operation's mineral resource estimate. It has lifted to 30.6 million tonnes at 1.31% lithium oxide, which is a 62% improvement.
Neuren Pharmaceuticals Ltd (ASX: NEU)
The Neuren Pharmaceuticals share price is up 5.5% to $14.21. This morning, this pharmaceutical company announced that its North America partner Acadia Pharmaceuticals (NASDAQ: ACAD) has officially launched its Daybue product for the treatment of Rett syndrome. This has triggered a US$40 million milestone payment to Neuren.
Norwest Energy NL (ASX: NWE)
The Norwest Energy share price is up 4% to 6.35 cents. This morning, this energy company recommended that its shareholders accept the takeover offer from Mineral Resources Ltd (ASX: MIN). That offer is for one Mineral Resource share for every 1,300 Norwest shares they own.
Pilbara Minerals Ltd (ASX: PLS)
The Pilbara Minerals share price is up 4% to $3.95. This appears to have been driven by the release of a broker note out of UBS this morning. According to the note, the broker has upgraded this lithium miner's shares to a buy rating with a $4.60 price target. Although the broker has reduced its near term lithium forecasts, it has boosted its long term assumptions. Following this action the broker sees value in its shares.
