The S&P/ASX 200 Index (ASX: XJO) is ending the week in a disappointing fashion. In afternoon trade, the benchmark index is down 0.4% to 8,713 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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Beach Energy Ltd (ASX: BPT)
The Beach Energy share price is up 2.5% to 85.5 cents. This is despite there being no news out of the energy producer. However, with its shares down heavily over the past month, some investors may believe that the selling has been overdone. Beach Energy shares are down 22% since this time last month.
Ioneer Ltd (ASX: INR)
The Ioneer share price is up 7% to 15 cents. This morning, this ASX lithium stock announced that it has received a conditional award from the United States Army. This relates to a long-term land lease on the Tooele Army Depot for the purpose of establishing a critical mineral processing facility. The company highlights that it is one of only four companies to be selected for the award and "is proud to be partnering with the U.S. Army to help build a secure, domestic boron supply chain." Ioneer's construction ready Rhyolite Ridge Lithium-Boron Project hosts the largest undeveloped boron ore reserve in the world outside of Turkiye. It is also the only undeveloped boron ore reserve in North America.
Solstice Minerals Ltd (ASX: SLS)
The Solstice Minerals share price is up 27% to $1.99. Investors have been buying this mineral exploration company after it announced multiple wide, high-grade copper-gold intercepts from its first diamond drillhole at the Nanadie Copper-Gold Project in Western Australia. Management notes that this confirms it as an extraordinarily well mineralised drillhole. Solstice Minerals' CEO and managing director, Nick Castleden, said: "We are delighted to release an outstanding set of wide, high-grade copper-gold intercepts in our first diamond drillhole at Nanadie, providing strong validation of our geological model and providing definitive evidence that this part of the deposit hosts multiple zones of high-grade mineralisation that extend to substantial depths beyond the current MRE limits."
Transurban Group (ASX: TCL)
The Transurban share price is up 1% to $15.33. This follows the release of an update on its North American operations. Transurban revealed that 95 Express Lanes, which Transurban indirectly holds a 50% interest, has entered a development framework agreement with the Virginia Department of Transportation. This will see the two parties assess an enhanced Bi-Directional Project on the I-95 Express Lanes. It notes that the proposed project scope would add approximately 120 additional new lane miles.
