The S&P/ASX 200 Index (ASX: XJO) is back on form and charging higher on Tuesday. In afternoon trade, the benchmark index is up 0.85% to 8,319.3 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:
Novonix Ltd (ASX: NVX)
The Novonix share price is up over 6% to 62.5 cents. This follows news that the U.S. Department of Energy (DOE) has conditionally committed a direct loan of up to US$754.8 million (~A$1.2 billion) to be applied towards partially financing a proposed new facility in Chattanooga, Tennessee. Novonix's CEO, Dr. Chris Burns, said: "This announcement is the culmination of years of hard work and is another critical milestone for our anode materials business towards our target production of 150,000 tpa in North America. This conditional commitment from the government to invest in our new facility continues to underscore the focus on localizing critical materials in the battery supply chain, such as graphite."
PEXA Group Ltd (ASX: PXA)
The PEXA share price is up 9% to $13.47. This morning, this digital property exchange and data insights company announced the appointment of its new CEO. PEXA has appointed Russell Cohen as its new leader effective from 31 March 2025. Mr Cohen is currently the group managing director of operations at multinational technology company Grab. At Grab he leads business performance, operations, platform safety, market expansion, and a team of 3000 across seven countries. Cohen has also played a pivotal role in that company's strategic growth throughout the region.
Tamboran Resources Corp (ASX: TBN)
The Tamboran Resources share price is up almost 8% to 14 cents. This follows news that the natural gas company has signed an agreement with APA Group (ASX: APA) to deliver the Sturt Plateau Pipeline. CEO Joel Riddle said: "With natural gas serving as the largest source of electricity generation in the Northern Territory, Tamboran is proud to play a critical leading role in ensuring a reliable energy supply for Territorians – keeping the lights on and air conditioners running. In delivering this, we are committed to following the highest environmental standards and with the support of Native Title Holders."
Westgold Resources Ltd (ASX: WGX)
The Westgold Resources share price is up 4% to $3.14. Investors have been buying this gold miner's shares following the release of an update on the potential expansion of the Fortnum Gold Operation in the Murchison Region of Western Australia. A scoping study has identified a potential 10-year fully integrated mine plan at Fortnum.
