The S&P/ASX 200 Index (ASX: XJO) is on course to end the year in a subdued fashion. In afternoon trade, the benchmark index is down 0.1% to 8,707.3 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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Aeris Resources Ltd (ASX: AIS)
The Aeris Resources share price is up 4% to 59.7 cents. This copper miner's shares have been pushing higher this week thanks to an announcement relating to its Constellation Project. That announcement revealed that Aeris Resources has been granted development consent from the NSW Department of Planning, Housing and Infrastructure. Commenting on the news, Aeris Resources' executive chair, Andre Labuschagne, said: "Receiving development consent represents a key milestone for the project." Labuschagne added: Coupled with our recently declared Open Pit Ore Reserve, this places us in a strong position for Constellation to become the next major ore source for Tritton in the near term. We acknowledge and thank the NSW government for their continued support."
Cobram Estate Olives Ltd (ASX: CBO)
The Cobram Estate Olives share price is up 1.5% to $4.08. This olive oil producer's shares have been on fire this week thanks to news that it has signed an agreement to acquire California Olive Ranch. It is a leading producer and marketer of Californian extra virgin olive oil. Cobram Estate Olives has agreed to pay a total consideration of US$173.5 million for the acquisition. This comprises cash of US$88.5 million, the issuance of vendor notes worth US$70 million, and an earn-out payment US$15 million. Speaking about the deal, Cobram Estate Olives' chair, Rob McGavin, said: "The acquisition of California Olive Ranch, Inc., delivers a compelling set of strategic and financial benefits for CBO. It immediately expands our Californian olive growing footprint from approximately ~1,422 hectares to around ~3,292 hectares of planted groves, while accelerating sales growth through the addition of well-established, premium household brands."
Electro Optic Systems Holdings Ltd (ASX: EOS)
The Electro Optic Systems share price is up 3% to $9.42. Last week, this defence and space company announced a binding contract to deliver Remote Weapon Systems (RWS) to a prime contractor for integration onto a major U.S. Army ground combat vehicle. It revealed that the multi-year agreement with General Dynamics Land Systems includes RWS hardware, development, spare parts and training. The initial contract is for US$22m (approximately A$33 million). EOS shares are up over 600% in 2025.
Robex Resources (ASX: RXR)
The Robex Resources share price is up almost 5% to $5.75. This follows news that the gold miner's shareholders have approved its proposed merger with Predictive Discovery Ltd (ASX: PDI). Robex's managing director and CEO, Matthew Wilcox, said: "This has been a defining 10 days for Robex. On December 21, we achieved the first gold pour at Kiniero, and today, December 30, our shareholders approved the merger with Predictive. These two milestones demonstrate our ability to execute and position the combined company for rapid growth."
