Four ASX shares that are not letting that hold them back today are listed below. Here's why they are rising:

Aurora Labs Ltd (ASX: A3D)

The Aurora Labs share price is up 6.5% to 9.9 cents. This morning, this industrial technology company announced the maiden aerial test flight for its 200 Class micro gas turbine in regional Western Australia. Management notes that test flight aimed to validate the performance and functionality of its in-house 3D printed engine. The good news is the micro gas turbine performed to specification, producing 22kg of thrust at full throttle. Aurora Labs' CEO, Rebekah Letheby, said: "A3D's development of the 3D printed turbine underscores our commitment to innovation, positioning the Company at the forefront of micro gas turbine technology development advancing new frontiers."

Coronado Global Resources Inc (ASX: CRN)

The Coronado Global share price is up over 5% to $1.32. Investors have been buying this coal miner's shares following the release of its quarterly update. The miner had a strong quarter, reporting group ROM coal production up 23.8% to 7.4Mt and group saleable production up 21.5% to 4.1Mt. Another positive was that its group average mining costs per tonne sold were down 27.5% to US$91.10 per tonne for the quarter. In light of this solid performance, management has reaffirmed its FY 2024 guidance.

Latin Resources Ltd (ASX: LRS)

The Latin Resources share price is up 1.5% to 15.3 cents. This follows the release of an update on the Planalto Prospect exploration drilling program at the lithium developer's 100% owned Salinas Lithium Project in Brazil. Management notes that the latest drilling results have confirmed the presence of a thick high-grade core of mineralisation which extends down dip and up-plunge to the south-west.

Newmont Corporation (ASX: NEM)

The Newmont Corporation share price is up 1% to $72.13. This has been driven by the release of the gold miner's second quarter update. For the three months, Newmont produced 1.6 million attributable ounces of gold along with 477,000 gold equivalent ounces. This underpinned the generation of US$1.4 billion of cash from operating activities and US$594 million in free cash flow. Looking ahead, management advised that it is on track to meet its 2024 guidance for production, costs and capital spend. This is expected to be driven by an improvement in production in the second half, which will be weighted towards the fourth quarter.

The post Why Aurora Labs, Coronado Global, Latin Resources, and Newmont shares are rising appeared first on The Motley Fool Australia.

At the closing bell, Aurora shares ended the day up 23.66% to 11.5 cents.

Aurora engages BAE Systems Maritime Australia

Investors appear upbeat about the company's future prospects, sending Aurora shares to a 3-month high.

According to its release, Aurora has been selected by BAE Systems Maritime Australia for a trial print project. This involves printing trial marine components for commercial evaluation for the Hunter Class Frigate Program (HCFP).

BAE Systems Maritime Australia's research and technology group is currently investigating a 3D process known as Additive Manufacturing (AM) for future large scale metal applications.

A specialist in 3D metal printing, Aurora has been identified as a possible supplier of Powder Bed Fusion technology for the HCFP. As such, the company is aiming to prove its technical and commercial know-how in producing 3D stainless steel printed parts.

Investigative test printing will be conducted by both parties to identify locally available AM processes and their benefits. While the component required is traditionally manufactured, Aurora is aiming to optimise the design using its Powder Bed Fusion technology.

BAE Systems Maritime Australia is tasked with delivering 9 frigates to the Royal Australian Navy within the next decade.

Aurora CEO Peter Snowsill was upbeat: 

We are very pleased to be offered the chance to perform test printing for the Hunt Class Frigate Program. Technical validation of its kind is crucial to our communication strategy and allows us to develop and position our technology to satisfy customer specifications.

About the Aurora Labs share price

Over the last 12 months, Aurora shares have travelled around 16% higher. However, year-to-date, the company's share price is up more than 57%.

Based on today's price, Aurora has a market capitalisation of roughly $17.5 million, with approximately 152 million shares outstanding.

The post Why the Aurora Labs (ASX:A3D) share price soared 23% today appeared first on The Motley Fool Australia.