The S&P/ASX 200 Index (ASX: XJO) is back on form on Wednesday and pushing higher. In afternoon trade, the benchmark index is up 0.8% to 8,466.1 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:
Boss Energy Ltd (ASX: BOE)
The Boss Energy share price is up 12% to $3.19. Investors have been buying this uranium producer's shares following the release of its quarterly update. Boss Energy reported a 96% increase in Honeymoon production to 215,319lbs and a 53% increase in U3O8 drummed to 137,084lbs. The company also revealed its maiden cost guidance. Its C1 costs for the second half of FY 2025 are expected to be $37 to $41/lb U3O8 (US$23 to 25/lb). Management notes that this is in line with inflationary increases recorded since its Enhanced Feasibility Study (EFS). It also points out that it compares favourably to other uranium projects.
DroneShield Ltd (ASX: DRO)
The DroneShield share price is up 2.5% to 63 cents. This morning, this counter drone company released its quarterly update and revealed a 6.3% increase in revenue to $57.5 million. This was lower than management was expecting "due to a number of pipeline projects taking longer to complete than expected." Nevertheless, it remains very positive on its prospects in 2025, especially with $36 million of revenue already received or under committed purchase orders. It also has a robust sales pipeline valued at $1.2 billion.
Pilbara Minerals Ltd (ASX: PLS)
The Pilbara Minerals share price is up 3.5% to $2.36. Investors have been buying this lithium miner's shares following the release of a stronger than expected quarterly update. Pilbara Minerals revealed that its sales volumes were down 5% quarter on quarter to 204.1k dmt. However, its realised price lifted 3% to US$700 per tonne, meaning that revenue increased 3% to A$216 million. The consensus estimate was for sales volumes of 183kt at a realised spodumene price of US$668 per tonne.
Star Entertainment Group Ltd (ASX: SGR)
The Star Entertainment share price is up 4% to 12 cents. This morning, the struggling casino and resorts operator revealed that it has signed a deal to sell the Star Sydney Event Centre and other additional spaces to Foundation Theatres for $60 million. CEO Steve McCann said: "The Star has worked closely with the team at Foundation Theatres since they acquired the sublease for the Sydney Lyric in 2011. We are pleased to partner with them as part of the continued evolution of our broad entertainment offerings at The Star Sydney. We continue to work on a number of other potential non-core asset transactions."
