In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a small decline. At the time of writing, the benchmark index is down almost 0.2% to 8,329.2 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:
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Electro Optic Systems Holdings Ltd (ASX: EOS)
The EOS share price is up 14% to $1.48. This morning, this defence and space systems company announced that it has won a major counter-drone contract. EOS revealed that it has secured a new order for Remote Weapon Systems worth 31 million euros (A$53 million). The company notes that the order is from a European naval systems integration business and is for its flagship "Slinger" Counter-Drone Remote Weapon System (RWS), and the systems will be configured for naval deployment.
Gorilla Gold Mines Ltd (ASX: GG8)
The Gorilla Gold Mines share price is up 7.5% to 53.2 cents. This follows the release of an update from the gold explorer relating to the Lakeview Prospect in Kalgoorlie, Western Australia. According to the release, the first hole drilled into a parallel structure at Lakeview has intercepted high grade gold mineralisation on a newly identified parallel east-west oriented structure. This is 200 metres north of the main mineralised trend. CEO Charles Hughes commented: "What a great first hole into the parallel "Jambo" structure at Lakeview!"
Lendlease Group (ASX: LLC)
The Lendlease share price is up over 1% to $5.59. Investors have been buying the property developer's shares after it officially signed a joint venture agreement with the Crown Estate in the United Kingdom. Lendlease CEO, Tony Lombardo, said: "This partnership will create an industry leading alliance that is expected to unlock value within our high-quality UK development portfolio, while accelerating the release of capital for the Group. With our expertise in delivering city shaping urban regeneration projects, the joint venture aims to deliver positive outcomes for our securityholders, communities and partners."
OFX Group Ltd (ASX: OFX)
The OFX Group share price is up a sizeable 16% to $1.31. This is despite there being no news out of the international payments and foreign exchange provider this morning. However, there will be news coming shortly. In response to its shares shooting higher, they have been paused from trade pending the release of an announcement. Whatever the cause, Wilsons is likely to be supportive of the buying. Earlier this month, the broker put an overweight rating and $2.11 price target on its shares.
