In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small decline. At the time of writing, the benchmark index is down 0.2% to 7,811.7 points.
Four ASX shares that are not letting that hold them back today are listed below. Here's why they are rising:
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Catalyst Metals Ltd (ASX: CYL)
The Catalyst Metals share price is up 13% to $1.29. This morning, this gold miner released an production update. According to the release, Catalyst Metals achieved annual group production of 110,000 ounces for FY 2024. This group gold production includes the first 12 months of Plutonic production under Catalyst's ownership following the consolidation of the Plutonic Gold Belt on 1 July 2023. The Plutonic operation produced 85,000 ounces for FY 2024, which is up from 60,000 ounces in FY 2023. This represents a 41% increase with only an $11 million increase in costs. Its CEO, James Champion de Crespigny, commented: "Now, with Plutonic stabilising, we are able to focus on developing Trident and Plutonic East which will see our production grow to over 150koz."
Imugene Ltd (ASX: IMU)
The Imugene share price is up 6% to 5.4 cents. This has been driven by news that the clinical stage immune-oncology company has dosed its first patient in its trial for bile tract cancer patients. Imugene's trial is an expansion of its MAST Phase 1 trial. It was undertaken after early responses were observed in gastrointestinal cancers, and particularly bile tract cancers. The trial is testing Imugene's cancer-killing virus CF33 (Vaxinia). The company's CEO, Leslie Chong, said: "Given the results we've seen to date we are eager to see the potential of VAXINIA in bile tract cancer."
RED 5 Limited (ASX: RED)
The Red 5 share price is up 2% to 40.8 cents. Investors have been buying this gold miner's shares this week after it entered into a restructured hedge facility and security package, repaid all outstanding loans, and restructured the hedging from the legacy Silver Lake Resources Limited (ASX: SLR) common terms deed. It also revealed that preliminary group sales for the fourth quarter were 110,818 ounces of gold, bringing its full year sales to 455,259 ounces of gold.
Telstra Group Ltd (ASX: TLS)
The Telstra Group share price is up 2.5% to $3.82. Investors have been buying the telco giant's shares this week after it announced an increase to its mobile prices. This will see prices on most of its mobile plans increase by between $2 to $4 per month. Goldman Sachs was pleased with the news and believes it demonstrates that the mobile market remains rational. In addition, it boosted its earnings and dividend estimates to reflect the changes. This ultimately led to the broker retaining its buy rating and lifting its price target to $4.30.
