In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week in the red. At the time of writing, the benchmark index is down 0.4% to 8,439.6 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising on Friday:
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EBR Systems Inc (ASX: EBR)
The EBR Systems share price is up 5% to 93 cents. This morning, this medical device company revealed that its Day-100 Meeting with the U.S. Food and Drug Administration (FDA) has been scheduled for 20 December 2024. It notes that this milestone follows the FDA's commencement of the substantive review process of EBR's Pre-Market Approval (PMA) submission. EBR Systems' WiSE technology is the world's only wireless, endocardial pacing system in clinical use for stimulating the heart's left ventricle.
Lotus Resources Ltd (ASX: LOT)
The Lotus Resources share price is up 7% to 23 cents. This follows the release of a revised mineral resource estimate (MRE) for its Letlhakane Uranium Project in Botswana after recent infill drilling. It notes that its revised pit constrained mineral resource estimate (MRE) has increased Letlhakane's indicated mineral resources by 65% with global resources of 142.2Mt at 363ppm U3O8 for 113.7Mlb. CEO Greg Bittar commented: "Our infill drilling has successfully converted a significant portion of the Inferred Mineral Resources at Letlhakane into the Indicated Mineral Resource category, with the Indicated portion of the MRE now standing at 50%."
Lovisa Holdings Ltd (ASX: LOV)
The Lovisa share price is up 4% to $31.01. This is despite there being no news out of the fashion jewellery retailer today. However, it is worth noting that the company's shares have pulled back meaningfully from their highs in recent months. Some investors may believe this has created a buying opportunity. Especially given how Morgans has an add rating and $36.00 price target on its shares. In addition, some insider buying by its outgoing CEO is likely to have given investor sentiment a boost.
Tuas Ltd (ASX: TUA)
The Tuas share price is up 6% to $6.01. Investors have been buying this Singapore-based telco's shares following the release of its annual general meeting. The presentation included a brief update on its performance in the first quarter. It advised that revenue and EBITDA were $35.5 million and $16.1 million, respectively. Importantly, this led to Tuas recording positive (unaudited) net profit after tax for the quarter.
