The S&P/ASX 200 Index (ASX: XJO) is having a subdued session. In afternoon trade, the benchmark index is down 0.2% to 7,234 points.
Four ASX shares that are not letting that hold them back today are listed below. Here's why they are rising:
Costa Group Holdings Ltd (ASX: CGC)
The Costa share price is up 11% to $3.31. Investors have been buying this horticulture company's shares after it confirmed the receipt of a $3.50 per share non-binding takeover offer from Paine Schwartz Partners. Further due diligence and negotiations on a potential scheme implementation agreement are expected to continue through July.
Gold Road Resources Ltd (ASX: GOR)
The Gold Road share price is up over 3% to $1.59. This morning, Goldman Sachs initiated coverage on the gold miner with a buy rating and a $1.85 price target. It said: "GOR remains undervalued in our view, trading at ~0.9x NAV on our LT gold price of US$1,700/oz, or pricing ~US$1,560/oz gold (peer average ~1x NAV and ~US$1,700/oz), and near-term FCF yields of c. 10% in CY24/25 remain attractive vs. peers and support upside to the outlook for capital returns."
Sayona Mining Ltd (ASX: SYA)
The Sayona Mining share price is up 5.5% to 19.5 cents. This follows the news that the lithium miner has achieved a new production milestone at the NAL operation. More than 30,000 tonnes of spodumene (lithium) concentrate has been produced ahead of target.
Silver Lake Resources Ltd (ASX: SLR)
The Silver Lake share price is up 5% to $1.09. This morning, this gold miner released its fourth-quarter update. Silver Lake advised that it delivered record quarterly sales of 83,540 ounces of gold. In addition, its all in sustaining costs (AISC) for the fourth quarter are yet to be finalised but are expected to decrease to the lowest level for the year.
