In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small gain. At the time of writing, the benchmark index is up slightly to 8,672.1 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:
Capricorn Metals Ltd (ASX: CMM)
The Capricorn Metals share price is up 6% to $9.73. This follows the release of an update on the gold miner's Mt Gibson Gold Project (MGGP). According to the release, ongoing drilling at MGGP has increased the mineral resource estimate (MRE) by 507,000 ounces or 13% to 4.5 Moz. Management notes that this significant increase includes a 684,000 ounces maiden underground MRE at Orion South and a maiden MRE at the Highway deposit. Executive chair, Mark Clark, commented: "The reporting of a maiden underground gold resource of 684,000 ounces at Mt Gibson is a very important milestone and early validation of our long-held belief that this project will evolve into a long mine life, combined open pit and underground mining operation."
Insignia Financial Ltd (ASX: IFL)
The Insignia Financial share price is up 11% to $4.37. Investors have been buying this financial services company's shares following news that it has accepted a takeover offer from CC Capital of $4.80 cash per share. The company's chief executive officer, Scott Hartley, said: "This offer recognises the underlying value of the Insignia Financial business, our associated brands including MLC, and our vision to become Australia's leading and most efficient wealth management company by 2030. We are and will continue to be focused on executing against our strategy and delivering for our customers and shareholders."
Perseus Mining Ltd (ASX: PRU)
The Perseus Mining share price is up 4% to $3.68. This has been driven by the release of an update on drilling being undertaken at the Nyanzaga Gold Project (NGP) in Tanzania. Perseus's managing director and CEO, Jeff Quartermaine, said: "The drill results that have been announced today have resulted from this second phase of drilling and reinforce our confidence in our ability to expand Nyanzaga's Mineral Resources and Reserves and as a result, potentially extend the life of the mine beyond the currently predicted Phase 1 of 11 years."
Qoria Ltd (ASX: QOR)
The Qoria share price is up 9% to 49 cents. This follows the release of the cyber safety company's fourth quarter and full year update. Qoria reported record annualised recurring revenue (ARR) growth of $29 million for the 12 months. This left it with an exit ARR of $145 million. Looking ahead, management is guiding to 20% ARR growth in FY 2026.
