The S&P/ASX 200 Index (ASX: XJO) is on form again on Tuesday. In afternoon trade, the benchmark index is up 0.9% to 7,363 points.
Four ASX shares that are climbing more than most today are listed below. Here's why they are rising:
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Iluka Resources Limited (ASX: ILU)
The Iluka share price is up over 2% to $11.67. This may have been driven by a broker note out of Goldman Sachs this morning. Its analysts remain very bullish on the mineral sands company and have reiterated their conviction buy rating with a $13.70 price target on its shares.
Lithium Energy Ltd (ASX: LEL)
The Lithium Energy share price is up 3% to 91.5 cents. This follows news that this lithium developer has signed a binding agreement with Lanshen to construct a battery grade lithium plant capable of producing 3,000 tonnes of lithium carbonate per annum at the 90% owned Lithium Brine Project. Lanshen is a leading provider of direct lithium extraction (DLE) technology and plant manufacturing, with industrial-scale commercial DLE plants currently in operation.
Talga Group Ltd (ASX: TLG)
The Talga share price is up 6% to $1.37. Investors have been buying this graphite share on Tuesday after it was revealed that the European Investment Bank (EIB) board has approved 150 million euros in senior debt funding. This will be used to underpin the development of Talga's Vittangi Anode Project in Sweden.
Woodside Energy Group Ltd (ASX: WDS)
The Woodside share price is up almost 2.5% to $36.36. This morning, Woodside revealed that its board has approved the development of the large, high-quality Trion resource in Mexico. The total capital expenditure is expected to be US$7.2 billion, with Woodside's share coming to US$4.8 billion. Management sees scope for production of 100,000 barrels per day from 2028.
