The S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a disappointing decline. At the time of writing, the benchmark index is down 0.7% to 8,898.4 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:
Bellevue Gold Ltd (ASX: BGL)
The Bellevue Gold share price is up 5% to $1.24. Investors have been buying this gold miner's shares following the release of drilling results this morning. Management notes that recent high-grade drilling results continue to reinforce its outlook for increasing grades through FY 2026 and FY 2027. It adds: "Deacon North is scheduled to deliver first ore in late FY26 and represents the largest high-grade mining area within the Bellevue Gold Project. The area is a northern continuation of the Deacon Main orebody and will be a major contributor to production over the next five years."
Lynas Rare Earths Ltd (ASX: LYC)
The Lynas Rare Earths share price is up 7.5% to $21.30. Investors have been scrambling to buy rare earths shares again on Monday. The catalyst for this has been escalating trade tensions between the US and China after the latter announced plans to restrict exports of rare earths. The US responded by threatening to put 100% tariffs on China. Whatever happens, the market appears to believe that higher rare earth prices are here to stay.
St George Mining Ltd (ASX: SGQ)
The St George Mining share price is up 26% to 14.5 cents. This follows news that the rare earths and niobium developer has received firm commitments to raise $72.5 million via a placement to institutional investors. This includes a $22.5 million placement to Hancock Prospecting. Funding will be applied towards an upgrade of the mineral resource estimate at the Araxa Project, project permitting, metallurgical test work including pilot plant development, and feasibility study work. St George Mining's executive chairman, John Prineas, said: "We are delighted with the strong support received from local and overseas institutional investors who recognise the enormous potential of our high-grade rare earths and niobium project at Araxa."
Syrah Resources Ltd (ASX: SYR)
The Syrah Resources share price is up 5% to 43.7 cents. Investors have been buying this graphite producer's shares in recent sessions in response to news that China is putting export controls on graphite. The team at Macquarie Group Ltd (ASX: MQG) believes this is a re-rating catalyst and upgraded Syrah's shares to an outperform rating with a 70 cents price target. The broker said: "We believe this restriction is a material positive event for SYR as it is uniquely positioned, boasting one of the world's largest natural graphite operations with production capacity of ~350ktpa and an 11.25ktpa AAM Vidalia facility that is ramping up. We see this as a re-rating event that is comparable to LYC and MP Materials."
