In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has followed Wall Street's lead and is pushing higher. At the time of writing, the benchmark index is up 0.3% to 8,336.6 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are starting the week on a high:
Canyon Resources Ltd (ASX: CAY)
The Canyon Resources share price is up 18% to 22.5 cents. This follows the release of an investor presentation from the bauxite developer this morning. That presentation focused on the Minim Martap project, which management described as "one of the most promising bauxite projects globally." It also notes that it is "a globally significant bauxite project, which has all the required characteristics to develop into a key, long-term operation." The project is located in central Cameroon and situated near the main rail line linking the region to the Atlantic port of Douala.
Ioneer Ltd (ASX: INR)
The Ioneer share price is up almost 18% to 20 cents. Investors have been buying this lithium developer's shares after it received a major funding boost in the United States. Ioneer has secured a US$996 million (A$1.6 billion) loan from the U.S. Department of Energy (DOE) Loan Programs Office (LPO) under the Advanced Technology Vehicles Manufacturing (ATVM) program. These funds will support the development of an on-site processing facility at the Rhyolite Ridge Lithium-Boron Project in Esmeralda County, Nevada. The Rhyolite Ridge project will be the first new lithium mine in the United States in almost sixty years and the first new boron mine in close to a century.
Iress Ltd (ASX: IRE)
The Iress share price is up 4% to $9.45. This has been driven by news that the financial technology company has entered into an agreement to divest its Superannuation business to global financial services provider Apex Group. Iress decided to divest the Superannuation business following a strategic review as part of the company's transformation program. While management sees opportunities within its Wealth business to continue delivering software to superannuation funds, it felt that it was not the natural owner of a regulated superannuation services provider. The company will receive $40 million in cash consideration upon completion plus additional payments of up to $20 million subject to agreed revenue milestones.
Predictive Discovery Ltd (ASX: PDI)
The Predictive Discovery share price is up 8% to 27.5 cents. This morning, this gold miner revealed that ministers in Guinea have approved the Environmental & Social Impact Assessment (ESIA) and have issued the Certificate of Environmental Compliance (ECC) for the Bankan Gold Project. It notes that this "provides the necessary environmental certificate required for PDI to apply for Bankan's Exploitation Licence. This is a significant de-risking step as it confirms the MEDD's support for development of the Bankan Project in the Peripheral Zone of the Upper Niger National Park."
