The S&P/ASX 200 Index (ASX: XJO) is having a tough start to the week. In afternoon trade, the benchmark index is down 0.6% to 7,235.3 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:
Image source: Getty Images
4DS Memory Ltd (ASX: 4DS)
The 4DS share price is up 25% to 18.2 cents. This morning, this semiconductor company revealed significantly better results than those that were announced last month for its random-access memory (ReRAM) cells in the megabit array. Management notes that write speeds were 9.5 nanoseconds, which significantly outperforms DRAM write speeds.
Lindian Resources Ltd (ASX: LIN)
The Lindian Resources share price is up 2% to 25.5 cents. This follows the release of drilling results from the rare earths explorer's Kangankunde project in Malawi. Lindian's Executive Chairman, Asimwe Kabunga, commented: "Kangankunde's scale continues to grow and this is attracting the interest of a number of parties seeking to secure offtake from our planned Stage 1 operation."
Red 5 Limited (ASX: RED)
The Red 5 share price is up 21% to 26.7 cents. Investors have been buying this ASX gold share following news of a major block trade before the market open. Someone picked up 372,897,512 units in Red 5 for an 18.2% premium of 26 cents per share. There are rumours that fellow gold miner Genesis Minerals Ltd (ASX: GMD) was behind the purchase.
Wildcat Resources Ltd (ASX: WC8)
The Wildcat Resources share price is up 83% to 44 cents. This has been driven by the release of drilling results from the lithium explorer's Tabba Tabba Lithium Tantalum Project near Port Hedland in Western Australia. The initial results from 21 holes confirm that pegmatite bodies contain significant widths and grades of lithium mineralisation. This project is close to some major tier-one lithium projects.
