The S&P/ASX 200 Index (ASX: XJO) is having a poor start to the week. In afternoon trade, the benchmark index is down 0.5% to 8,256.4 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:
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Black Cat Syndicate Ltd (ASX: BC8)
The Black Cat Syndicate share price is up 10% to 59 cents. This follows the release of an update on the turn-key funding, development, and processing package at the Myhree/Boundary open pits. These are part of the 100% owned Kal East Gold Operation. Black Cat's Managing Director, Gareth Solly, said: "Excellent progress is being made at Myhree/Boundary with accelerated mining delivering ~110kt of Ore, well ahead of schedule. Expedited cashflow from Myhree/Boundary will complement the recent $80M placement and underpin Black Cat producing more gold, sooner from multiple operations."
Dicker Data Ltd (ASX: DDR)
The Dicker Data share price is up 3% to $9.12. This morning the computer hardware and software distributor announced its latest dividend payout. Dicker Data will be rewarding its shareholders with a fully franked 11 cents per share quarterly dividend. This is up 10% on the prior corresponding period. Dicker Data's shares will go ex-dividend for this payout on 14 November. Pay day will then follow at the start of next month on 2 December.
Novonix Ltd (ASX: NVX)
The Novonix share price is up 14% to 82 cents. This morning the battery materials technology company announced a binding offtake agreement with Stellantis. It is one of the world's leading automakers and owns brands such as Citroen, Fiat, Jeep, Maserati, and Peugeot. Stellantis has signed up for offtake of a minimum of 86,250 tonnes and up to a target volume of 115,000 tonnes of high-performance synthetic graphite material. Management revealed that the price of synthetic graphite products sold under the offtake agreement will be based on an agreed upon market-based price formula. Novonix's CEO, Dr. Chris Burns, said: "We are excited to have Stellantis' commitment, now as our largest customer, to support their North American EV growth plans."
Pointsbet Holdings Ltd (ASX: PBH)
The Pointsbet share price is up 6% to 94 cents. This is despite there being no news out of the sports betting company on Monday. Though, it is worth noting that rival Draftkings released its quarterly update on Friday. It's possible that investors have seen some positives for Pointsbet from this update.
