In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a disappointing decline. At the time of writing, the benchmark index is down 1% to 8,758.7 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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Deterra Royalties Ltd (ASX: DRR)
The Deterra Royalties share price is up 2.5% to $4.20. This morning, this royalties company announced an agreement to sell its non-core gold offtake assets for a total consideration of US$60 million (A$91 million) to Vox Royalty Corp. Deterra's managing director and CEO, Julian Andrews, commented: "Deterra acquired the portfolio of gold offtakes, along with the Dandoko royalty, as part of the acquisition of Trident Royalties in September 2024, while St Ives has been part of Deterra's portfolio since listing in 2020. Consistent with our strategic investment focus on base, bulk, battery and electrification commodities and our disciplined management of capital, we continuously review our portfolio for opportunities from non-core assets."
DroneShield Ltd (ASX: DRO)
The DroneShield share price is up a further 7% to $3.79. Investors have been bidding this counter drone technology company's shares higher this week after it announced that it is significantly expanding its research and development (R&D) operations in the United States. DroneShield USA's CEO, Matt McCrann, said: "As we continue to scale our operations globally, this expansion in the U.S. plays a crucial role in enhancing our ability to innovate and deliver advanced solutions for the evolving defense industrial base right here in the U.S. We're investing in the future of defense, and our growing footprint and impact in the U.S. market directly supports that effort."
Lindian Resources Ltd (ASX: LIN)
The Lindian Resources share price is up 8% to 27 cents. This morning, this rare earths developer announced the appointment of DRA Pacific to complete the Kangankunde Phase 2 Expansion Study. The release notes that DRA is a global leader in rare earths processing with a proven track record of delivering innovative, technically advanced solutions across all stages of project development.
Race Oncology Ltd (ASX: RAC)
The Race Oncology share price is up over 10% to $3.32. This follows the release of a positive announcement from the clinical stage biopharmaceutical company this morning. It revealed that the Republic of Korea Ministry of Food and Drug Safety (MFDS) has approved the Investigational New Drug (IND) application to evaluate the safety, tolerability, and pharmacokinetics of RC220 in combination with doxorubicin in solid tumour patients. CEO Dr Daniel Tillett notes that "this approval allows patient enrolment in Korea and confirms the strength of the RC220 data package."
