The S&P/ASX 200 Index (ASX: XJO) is on course to end the week on a positive note. At the time of writing, the benchmark index is up 0.9% to 8,218.5 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are storming higher:
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Boss Energy Ltd (ASX: BOE)
The Boss Energy share price is up 6% to $3.60. Investors have been buying this uranium producer's shares this week following the release of its quarterly update. That update revealed that it has generated its first free cash flow from the Honeymoon Project in South Australia. Boss Energy's managing director, Duncan Craib, said: "This was a pivotal quarter for Boss as we started generating free cashflow at Honeymoon. This milestone is the result of the highly successful ramp up, which saw production and costs meet or exceed our guidance. Importantly, we generated robust margins at current prices, demonstrating the strength of Honeymoon in the current market and the project's immense upside on the back of future increases in the uranium price as the market tightens."
Capstone Copper Corp (ASX: CSC)
The Capstone Copper Corp share price is up 4% to $7.95. This follows the release of the copper miner's first quarter update. The company reported total copper production of 53,796 tonnes with a C1 cash costs of $2.59 per pound. This led to Capstone delivering record adjusted EBITDA of $179.9 million. This is more than double the $80.1 million it achieved for the first quarter of FY 2024. Capstone CEO, John MacKenzie, commented: "Our operations got off to a solid start in the first quarter, marked by record sulphide copper production from both Mantoverde and Mantos Blancos, as we achieved record revenues and EBITDA."
Dimerix Ltd (ASX: DXB)
The Dimerix share price is up a further 10% to 75 cents. Investors have been scrambling to buy this clinical-stage biopharmaceutical company's shares this week following some big news. Dimerix has entered into an exclusive U.S. licensing agreement with Amicus Therapeutics (NASDAQ: FOLD) for the commercialisation of its Phase 3 drug candidate DMX-200. The deal will see the company earn up to US$410 million (A$653 million) in commercial milestone payments, as well as a number of royalties and other milestone payments.
Platinum Asset Management Ltd (ASX: PTM)
The Platinum Asset Management share price is up a further 7% to 68 cents. This fund manager's shares have been racing higher this week after it confirmed that it is in early-stage merger talks with L1 Capital. It is a global investment firm. Platinum's CEO, Jeff Peters, said: "L1 Capital is a first-class manager with a strong investment track record. The Potential Merger provides an attractive opportunity to combine expertise and resources, and we will continue to explore if it's in the best interests of Platinum shareholders."
