In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on track to start the week with a decent gain. At the time of writing, the benchmark index is up 0.65% to 8,843.6 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:
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Aeris Resources Ltd (ASX: AIS)
The Aeris Resources share price is up 2.5% to 48.7 cents. This follows the release of the copper miner's update on activities at the Golden Plateau deposit. It is located within the company's 100% owned Cracow tenement package in Queensland. Management notes that a large volume of mineralisation has been identified around the historical underground workings, extending down to 150m below the bottom of the existing pit. Executive Chairman, Andre Labuschagne, said "The historical production from the Golden Plateau area highlights the significance of this mineralised system. We are highly encouraged by the potential impact this near-term ore source could have on extending the Cracow life-of-mine plan. Aeris is prioritising exploration at Golden Plateau with the drill program to be completed this financial year."
Electro Optic Systems Holdings Ltd (ASX: EOS)
The EOS share price is up 12% to $9.39. This has been driven by the release of a sales update from the defence and space company today. EOS revealed that it is expecting its full year revenue from existing contracts to be $115 million to $125 million in FY 2025. However, it is pursuing orders that could boost this number by $25 million. In addition, its contract backlog is approximately $299 million. This is $163 million higher than it was at 31 December 2024 and it still has an extensive pipeline of sales opportunities.
Novonix Ltd (ASX: NVX)
The Novonix share price is up 16.5% to 49.5 cents. Investors have been buying this battery materials and technology company's shares after it achieved a critical milestone. Novonix announced that it has delivered its first mass production, commercial-grade sample of synthetic graphite for industrial applications. It notes that this delivery has been made to one of North America's largest value-added carbon processors with a global market reach. Novonix's CEO, Mike O'Kronley, said: "We're pleased to have hit this significant manufacturing milestone. This demonstrates that industrial-grade products can be produced using NOVONIX's proprietary continuous graphitization furnace technology at a mass production scale and is another step towards bringing our battery-grade materials to market."
Synlait Milk Ltd (ASX: SM1)
The Synlait Milk share price is up 15% to 72 cents. This follows the release of the dairy processor's full year results this morning. The company revealed the more than doubling of its underlying EBITDA to NZ$107.2 million in FY 2025. In addition, Synlait Milk has signed an agreement to sell its North Island assets to global healthcare leader Abbott Laboratories (NYSE: ABT). The divestment will deliver the company approximately NZ$307 million in proceeds.
