The S&P/ASX 200 Index (ASX: XJO) looks set to continue its losing streak on Friday. In afternoon trade, the benchmark index is down 0.4% to 7,142.6 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:
Atlantic Lithium Ltd (ASX: A11)
The Atlantic Lithium share price is up 3.5% to 44 cents. This morning, this lithium developer revealed that it has agreed to non-binding heads of terms with the Minerals Income Investment Fund of Ghana (MIIF). The fund will invest a total of US$32.9 million (A$51.4 million) in the company to support the development of its flagship Ewoyaa Lithium Project. This will give MIIF a 6% contributing interest in the company's Ghana portfolio.
Monadelphous Group Ltd (ASX: MND)
The Monadelphous share price is up 1% to $13.90. This follows news that the engineering company has been awarded a major construction contract at Talison Lithium's Chemical Grade Plant 3 Project. The company revealed that the contract is valued at approximately $160 million. Work will commence on site later this year and is expected to be completed in the first half of 2025.
Polynovo Ltd (ASX: PNV)
The Polynovo share price is up 3.5% to $1.35. This may have been driven by a broker note out of Morgans this week. Its analysts have initiated coverage on the medical device company with an add rating and a $1.88 price target. This implies a potential upside of almost 40% for investors over the next 12 months.
Tietto Minerals Ltd (ASX: TIE)
The Tietto Minerals share price is up 5.5% to 37.5 cents. This morning, the gold miner released a presentation ahead of its appearance at the Africa Down Under Conference. In addition, with its shares crashing deep into the red in recent weeks, some investors may believe they have been oversold and represent good value despite its production downgrade.
