The S&P/ASX 200 Index (ASX: XJO) is having another subdued session on Tuesday. In afternoon trade, the benchmark index is down 0.1% to 8,871.6 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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Catalyst Metals Ltd (ASX: CYL)
The Catalyst Metals share price is up 14% to $8.69. Investors have been buying this gold miner's shares following the release of an announcement. That announcement reveals that Catalyst Metals has received approval of its Works Plan for the exploration tunnel at the Four Eagles gold project in Victoria. This project is situated 70 kilometres north of the historic 20Moz Bendigo Goldfield. Catalyst Metals' CEO, James Champion de Crespigny, said: "This initial approval is a notable milestone towards the future construction of the exploration tunnel. The processing solution is now in place for the project. As we are undertaking further drilling to grow the high-grade gold resource, our focus will also be on obtaining the secondary approvals required before we commence the construction of the exploration tunnel."
Lynas Rare Earths Ltd (ASX: LYC)
The Lynas Rare Earths share price is up 6% to $21.47. Investors have been buying this rare earths producer's shares in recent sessions after China announced plans to restrict the export of rare earths. In response to the news, the US has threatened to put 100% tariffs on China. These export controls are likely to be good news for pricing outside China.
Rio Tinto Ltd (ASX: RIO)
The Rio Tinto share price is up 2% to $127.55. This follows the release of a solid quarterly update from the mining giant this morning. Rio Tinto delivered production largely in line with expectations and has reaffirmed its guidance for the full year. Rio Tinto's new chief executive, Simon Trott, said: "We continue to strengthen performance from our assets, setting back-to-back quarterly production records in our bauxite business and at Oyu Tolgoi – where the underground ramp-up remains on track to boost copper output by more than 50% this year."
SRG Global Ltd (ASX: SRG)
The SRG Global share price is up 22% to $2.50. Investors have been bidding this engineering services company's shares higher after it announced a major acquisition. SRG Global has entered into a binding agreement to acquire 100% of Total AMS and its subsidiaries (TAMS) for $85 million on a cash-free and debt-free basis. TAMS is a leading end-to-end diversified marine infrastructure services partner with a 25+ year history and full self-perform capability. The transaction is expected to be around 25% earnings per share (EPS) accretive to FY 2026 earnings (pre synergies).
