The S&P/ASX 200 Index (ASX: XJO) is on course to record a solid gain. In early afternoon trade, the benchmark index is up a sizeable 0.7% to 8,043.7 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are storming higher:
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Dimerix Ltd (ASX: DXB)
The Dimerix share price is up almost 4% to 40.5 cents. This follows the release of a trial update from the biopharmaceutical company this morning. Dimerix advised that the first clinical site specialising in paediatric kidney disease was activated today in Mexico. This now allows for the active recruitment of adolescent patients into the ACTION3 Phase 3 clinical trial. This study is testing the efficacy and safety of DMX200 in patients with Focal Segmental Glomerulosclerosis (FSGS) kidney disease. This means that its recruitment remains on-track and its interim analysis is still currently expected around mid-2025.
Paladin Energy Ltd (ASX: PDN)
The Paladin Energy share price is up 11% to $9.96. Investors have been scrambling to buy Paladin Energy and other ASX uranium stocks today thanks to some big industry news. According to Reuters, Russian President Vladimir Putin has said that Moscow should consider limiting exports of uranium, titanium, and nickel in retaliation for Western sanctions. ASX nickel shares are also rising on the news on Thursday.
Pilbara Minerals Ltd (ASX: PLS)
The Pilbara Minerals share price is up a further 7% to $2.86. Lithium stocks are surging for a second day in a row amid reports that Chinese battery giant CATL has suspended production at two of its lepidolite lithium mines. The market appears to be treating this as a sign that lithium prices have now bottomed and are flooding back into the beaten down industry. Today's gain means that Pilbara Minerals' shares are now up a whopping 22% over the past two trading sessions.
Resolute Mining Ltd (ASX: RSG)
The Resolute Mining share price is up 4% to 66.7 cents. This follows the release of an exploration update from the gold miner this morning. Resolute CEO, Terry Holohan, commented: "We are progressing well with our priority of extending the life of the Mako operation with further drilling success and a significant increase in the Mineral Resources at the Tomboronkoto project which is close to the Mako processing facility. Engineering work is progressing in parallel to ensure an investment decision can be made on this project in early 2025."
