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 1.5% to 8,652.7 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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Chrysos Corporation Ltd (ASX: C79)
The Chrysos share price is up 2.5% to $6.15. Investors have been buying this mining technology company's shares after it announced the successful refinancing of its corporate facilities. Chrysos has agreed a new three-year $200 million syndicated facility with three domestic financiers. Management notes that this moves it away from an existing asset-based financing debt structure to a corporate-style facility designed to provide operational flexibility and support the development, production and funding of PhotonAssay units in numerous jurisdictions around the world. Chrysos CEO, Dirk Treasure, commented: "We are pleased to have this facility in place to support the Company's continued growth and accelerating deployment cadence. Continued adoption of PhotonAssay is driving strong demand across multiple regions, reflected in the additional four contracts signed with laboratories since our last update."
Endeavour Group Ltd (ASX: EDV)
The Endeavour share price is up 3% to $2.96. This appears to have been driven by a broker note out of Citi. According to the note, the broker has upgraded the drinks giant's shares to a buy rating with a trimmed price target of $3.25. Citi believes Endeavour could win market share based on its scale and price leadership strategy.
Racura Oncology Ltd (ASX: RAC)
The Racura Oncology share price is up 3.5% to $2.60. This morning, the biopharmaceutical company revealed that a specialist institutional investor focused on emerging healthcare companies has made an investment. The investor has provided a binding commitment to subscribe for 526,315 fully paid ordinary shares in Racura at an issue price of $1.90 per share. This represents a 23% discount to the average market price as of 3 June.
Treasury Wine Estates Ltd (ASX: TWE)
The Treasury Wine share price is up 10% to $4.54. This follows the release of the wine giant's investor day update. The Penfolds owner's Ascent strategy will focus on the brands and markets where it believes it can win, while cutting costs, simplifying operations, reshaping its supply chain, and strengthening its balance sheet. Treasury Wine revealed that it is targeting $100 million per year in cost reductions, which are expected to be fully realised by FY 2029.
