The S&P/ASX 200 Index (ASX: XJO) has followed Wall Street's lead and slipped into the red. At the time of writing, the benchmark index is down 0.15% to 7,960.2 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:
Catalyst Metals Ltd (ASX: CYL)
The Catalyst Metals share price is up 8% to $1.91. This follows the release of the gold miner's quarterly update this morning. The company reported Plutonic and Henty quarterly production of 24,576 ounces and 6,926 ounces, respectively. Management notes that both represent the most successful production quarters under Catalyst ownership. Looking ahead, it highlights that with annual production of +110koz, and Trident and Plutonic East coming online in 2025, Catalyst is gradually charting its course to 200,000 ounces per annum.
Ora Banda Mining Ltd (ASX: OBM)
The Ora Banda Mining share price is up 6% to 42.5 cents. Bargain hunters appear to be swooping in today after the gold miner's shares were sold off on Tuesday. Investors were selling Ora Banda's shares despite it releasing a solid quarterly update. It reported an 11% increase in production to 19,271 ounces with an all-in sustaining cost (AISC) of A$2,878 per ounce. For the full year, Ora Banda's production came to 69,932 ounces with an AISC of A$2,767 per ounce. This was in line with its production guidance and represents a 46% year on year increase.
Spartan Resources Ltd (ASX: SPR)
The Spartan Resources share price is up a further 5% to $1.29. This gold explorer's shares have been racing higher this week following the release of an updated mineral resource estimate (MRE) for the Dalgaranga Project in Western Australia. Spartan Resources advised that its MRE is now 16.1Mt @ 4.79g/t gold for 2,482,200 ounces. This represents a 47% increase in ounces and a 91% increase in grade. Management believes the "delivery of this landmark MRE update is a pivotal moment in our journey and firmly stamps the high-grade Spartan brand on our key project at Dalgaranga."
TechnologyOne Ltd (ASX: TNE)
The TechnologyOne share price is up 2.5% to $19.47. This appears to have been driven by a broker note out of UBS this morning. According to the note, the broker has upgraded the enterprise software provider's shares to a buy rating with an improved price target of $21.90. UBS made the move on the belief that the company is well-placed to achieve its net revenue retention target of 120% after assessing customer feedback. And while it acknowledges that its shares are not cheap, it believes this is justified given its potential to deliver earnings growth of 20% per annum in the coming years.
