The S&P/ASX 300 Index (ASX: XKO) is down 0.4% in late morning trade on Wednesday, but that's not holding back these three surging ASX 300 shares.
Here's what's happening.
Image source: Getty Images
ASX 300 shares defying today's market malaise
Despite the broader market malaise today, the Latin Resources Ltd (ASX: LRS) share price is charging higher.
The lithium focused ASX 300 share closed yesterday trading for 19 cents. At time of writing, shares are changing hands for 20 cents apiece, up 5.3%.
There's been no fresh price-sensitive news from the company since the end of October. But the miner could be benefiting from some broader outperformance in the lithium space today. Liontown Resources Ltd (ASX: LTR) shares, for example, are up 1.2%, while Mineral Resources Ltd (ASX: MIN) shares are up 2.8%, and Pilbara Minerals Ltd (ASX: PLS) shares are up 2.1%.
Which brings us to our second outperforming ASX 300 share, Resolute Mining Ltd (ASX: RSG).
Resolute Mining shares closed yesterday at 42 cents. In earlier trade, they were trading for 46 cents apiece, up 9.5%. After some likely profit-taking, shares are currently swapping hands for 43.5 cents each, up 3.6%.
This follows yesterday's gains of 10.5%.
Investor enthusiasm appears to have been roused amid news that the Aussie gold miner had signed a memorandum of understanding with the Mali government after its CEO was detained in the African nation.
Macquarie then reaffirmed its outperform rating with a 57 cent price target on Resolute Mining's shares. That represents another 31% potential upside from current levels.
Rounding off the list of surging ASX 300 shares today is NexGen Energy Ltd (ASX: NXG).
Shares in the Canadian-based uranium explorer closed yesterday at $12.18 and are currently trading for $13.15 each, up 8.0%.
Today's strong performance comes after the company announced that the Canadian Nuclear Safety Commission (CNSC) has confirmed NexGen's successful completion of the final Federal technical review for its 100%-owned Rook I uranium mine project.
The company noted that this is a key requirement for scheduling a Federal Commission Hearing date and subsequent Federal Project approval decision for the project.
Commenting on regulatory progress sending the ASX 300 share leaping higher today, NexGen CEO Leigh Curyer said, "We are construction ready to deliver transformative and unprecedented social, economic and environmental benefits to local communities, the province of Saskatchewan, Canada, and the world."
Curyer added:
We're not just developing a mine, we're building strong communities while shaping a sustainable and secure global energy future.
With over $800 million in cash and liquid assets, we are ready pending a positive Commission decision with all activities required to immediately commence major site works in place.
