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

Flight Centre Travel Group Ltd (ASX: FLT)

The Flight Centre share price is up over 1.5% to $20.68. This follows the release of an update from the travel agent giant this morning. Flight Centre revealed that its strong recovery from COVID continued during the third quarter. This culminated in the company delivering monthly total transaction value (TTV) of over $1 billion for the first time in March.

Jumbo Interactive Ltd (ASX: JIN)

The Jumbo share price is up 7% to $13.61. Investors have been buying this lottery ticket seller's shares following the release of a trading update at an investor conference. Jumbo revealed that trading conditions have been kind and have resulted in lower than expected marketing costs as a percentage of sales.

Pilbara Minerals Ltd (ASX: PLS)

The Pilbara Minerals share price is up 3% to $4.22. This may be related to the release of the lithium miner's corporate presentation after the market close on Tuesday. That presentation outlined the company's plan to grow its production capacity to 1Mt per annum by 2025 to "capture value and increase revenue."

Ramelius Resources Ltd (ASX: RMS)

The Ramelius share price is up 4.5% to $1.33. As well as getting a boost from a rising gold price, investors have been buying this gold miner's shares after it announced that it has gained control of Breaker Resources NL (ASX: BRB). The company now owns over 50.1% of Breaker's issued shares.

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

Breaker Resources NL (ASX: BRB)

The Breaker Resources share price is up 31% to 38 cents. This follows news that the gold developer has accepted a takeover approach from Ramelius Resources Ltd (ASX: RMS). In the absence of a superior proposal, management and two major shareholders intend to accept the all-scrip offer which has an implied value of 40 cents per share.

Healius Ltd (ASX: HLS)

The Healius share price is up over 9% to $3.04. This morning, this healthcare company received a takeover approach from smaller rival Australian Clinical Labs Ltd (ASX: ACL). And while the offer is not at a premium, Australian Clinical Labs expects to create significant value for shareholders by merging the two companies.

Northern Star Resources Ltd (ASX: NST)

The Northern Star share price is up 8% to $11.75. Investors have been piling into gold miners today after the spot gold price closed in on the US$2,000 an ounce mark. This has been driven by demand for safe haven assets and optimism that the US Federal Reserve won't raise rates as much as previously expected due to the banking crisis.

Tietto Minerals Ltd (ASX: TIE)

The Tietto Minerals share price is up 12.5% to 63 cents. As well as getting a lift from a rising gold price, this gold miner made a positive announcement. Tietto revealed that it has completed process plant commissioning at its 100%-owned 4.5Mtpa Abujar Gold Mine in the Ivory Coast. Abujar is expected to deliver gold production averaging ~200,000 ounces per year over the first six years of production at a weighted average all in site cost (AISC) of ~US$800/oz.

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At the time of writing, the Breaker Resources NL (ASX: BRB) share price is up a whopping 36% to a 52-week high of 39.5 cents.

Why is this ASX gold share rocketing higher?

Investors have been scrambling to buy this ASX gold share after it accepted a takeover offer from Ramelius Resources Ltd (ASX: RMS).

According to the release, the two parties have entered into a bid implementation agreement (BIA), pursuant to which Ramelius will offer to acquire Breaker by way of an all-scrip off-market takeover.

Under the terms of the offer, Breaker shareholders will receive 1 Ramelius share for every 2.82 Breaker shares they own.

This equates to an offer of 40 cents per share, which is a 39% premium to its last close price and values Breaker's undiluted equity at $130.7 million.

What's next?

Breaker's directors have unanimously recommended that its shareholders accept the offer. This is in the absence of a superior offer.

Furthermore, they intend to accept the offer for all the shares they own or control. This currently represents approximately 4% of its issued shares. But they are not alone. Breaker's two largest shareholders, Electrum Strategic Opportunities Fund and Paulson & Co, with a combined shareholding of approximately 19.92% will do the same.

Why acquire Breaker?

Ramelius revealed that acquiring this ASX gold share is in line with its long term strategy. It explained:

Ramelius' long-term strategy has been to create shareholder value through organic and inorganic growth opportunities. The acquisition of Breaker is in line with Ramelius' objective to execute synergistic corporate opportunities to enhance the development of a new production hub following the complementary acquisition of Apollo Consolidated Limited and its flagship Rebecca project which completed in early 2022.

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While there are no guarantees in life, and certainly none in equity markets, Harrison Massey, stockbroker at Argonaut, believes that lithium explorer Global Lithium Resources Ltd (ASX: GL1) could do just that.

The ASX lithium share has a market cap of $500 million. And as Massey notes (courtesy of The Bull), Global Lithium "has an impressive register with Mineral Resources Limited (ASX: MIN) owning 9.9% of the company".

Why this ASX lithium share is rated as a buy

"GL1 recently raised $120 million to acquire the remaining 20% of the Manna Lithium project from Breaker Resources NL (ASX: BRB)," Massey said.

That capital raising was announced on 26 October, after the ASX lithium share emerged from a trading halt.

Investors sold off the stock on the day, as Global Lithium announced it was raising the funds at $2.25 per share. That was 13.8% below the share price before the miner entered its trading halt.

But Global Lithium's chair Warrick Hazeldine was upbeat about the prospects with the new funding secured. According to Hazeldine:

The outstanding on-the-ground exploration work completed by the Global Lithium team over the past six months has delivered impressive results at Manna, affording us the opportunity to now present an offer to Breaker which we believe is a win-win for both companies.

The acquisition of the underlying tenements provides Global Lithium with a clearer development pathway as we look to conclude these development focused studies in late 2023.

Argonaut's Massey is also bullish on the potential for the ASX lithium share's Manna project.

"GL1 has an existing resource of 20.4 million tonnes of lithium oxide across its two assets," he said. "We're anticipating a substantial mineral resource upgrade at the Manna Lithium project in December 2022."

Global Lithium share price snapshot

Global Lithium is a relative newcomer to the ASX, having listed on 6 May 2021. Since then, the ASX lithium share has rocketed an eye-popping 610%.

For some context, the All Ordinaries Index (ASX: XAO) is up 2% over that same period.

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The lithium price itself has roughly tripled this year, making many experts wary about whether the larger producers have had their run.

Arguably, in order to capture the best returns, investors may need to look at smaller players that haven't yet fully realised their potential.

One of those is Global Lithium Resources Ltd (ASX: GL1).

The $497 million company is still at an exploratory stage, with a focus on the Marble Bar Lithium Project in Western Australia's Pilbara region.

Last month, Global Lithium issued new shares to raise $100 million to fund a takeover of the Manna Lithium Project from Breaker Resources NL (ASX: BRB).

Shaw and Partners portfolio manager James Gerrish was asked recently whether he would consider buying this stock, considering the already-elevated lithium prices.

Medium-term prospects 'very positive'

Gerrish told a Market Matters Q&A that he was still bullish on both the lithium thematic and Global Lithium shares.

But with a caveat.

"We are more cautious in the short-term because of market positioning," he said.

"Hence a scaled-in approach is worth considering… around $2.30 adding to the position over time."

The Global Lithium share price closed 1.25% higher on Monday at $2.43.

The stock has roughly doubled since the start of the year, and Gerrish can't see any reason why that ascent can't continue.

"The medium-term backdrop here is a very positive one in our view."

Gerrish is not the only professional loving the look of Global Lithium shares at the moment.

According to CMC Markets, all four analysts currently covering the stock are rating it as a strong buy.

The analysts at Macquarie agree, according to Livewire, predicting a potential 90% upside for Global Lithium stocks at current lithium spot prices.

The post Could this ASX share be the next lithium stock to explode? appeared first on The Motley Fool Australia.

In late morning trade, the lithium explorer's shares are up 12.5% to 71 cents.

This latest gain means the Global Lithium share price is now up 153% in 2021.

Why is the Global Lithium share price shooting higher?

The catalyst for the rise in the Global Lithium share price today has been release of a promising announcement.

According to the release, the company has entered into an agreement to acquire an 80% interest in the exploration and future mining rights in the Manna Lithium Project from Breaker Resources NL (ASX: BRB).

The two parties have agreed a total consideration of $33 million. This comprises $13 million upfront consideration and up to $20 million deferred consideration. The latter will be payable upon certain milestones relating to the mineral resource and future production.

The Manna Lithium Project

The release notes that the Manna Lithium Project is an outcropping spodumene and lepidolite bearing pegmatite exploration project located approximately 100km east of Kalgoorlie, Western Australia.

The Project has an area of influence of 750m x 130m in the main outcrop with individual pegmatite dykes up to 18 meters wide. Furthermore, recent drilling over an anomalous area of 350 metres to the south of these pegmatite dykes has confirmed the discovery of a new zone of spodumene-rich pegmatites.

Global Lithium's Chairman, Warrick Hazeldine, was pleased with the acquisition.

He said: "This is a strategic acquisition for Global Lithium and follows a rigorous assessment on pathways to grow our asset base for the benefit of all shareholders. It delivers on our objective of growing the Company's business through complementary acquisitions and diversifying through the acquisition of Manna will deliver the Company another high-quality project located in an infrastructure rich, Tier-1 jurisdiction."

"The early exploration work at Manna is highly encouraging and Global Lithium looks forward to partnering with Breaker Resources on a substantial exploration and drilling program at Manna in 2022 to capitalise on the global demand for quality lithium assets," he added.

The post Why the Global Lithium (ASX:GL1) share price is surging 12% higher today appeared first on The Motley Fool Australia.

At the time of writing, Breaker Resources shares are up 17.39% to 27 cents apiece. This takes the company's current market capitalisation to around $62 million.

Breaker Resources is a small-cap ASX gold explorer. It is focused on discovering and developing new gold deposits hidden by transported cover in Western Australia's Eastern Goldfields Superterrane.

Breaker Resource's cornerstone project is the 600 square kilometre Lake Roe Gold Project. The project is located 100 kilometres east of Kalgoorlie and comprises 7 granted exploration licenses plus a mining lease.

Why is the Breaker Resources share price spiking?

This morning, Breaker Resources announced that preliminary drilling results have highlighted the potential for a significant gold discovery at the Kopai Prospect within the Lake Roe Project.

These results relate to the first 32 reverse circulation (RC) drill holes of a 60-hole program targeting the 2 kilometre Kopai-Crescent area.

Preliminary results from the first 32 RC holes include:

• 4 metres at 4.54 g/t gold from 84 metres;
• 4 metres at 2.68 g/t gold from 20 metres; and
• 4 metres at 2.53 g/t gold from 20 metres.

Breaker Resources stated the results are significant given the geological setting and wide-spaced nature of the drilling. Four of the five more significant drill intercepts are situated on the end of drill lines.

The first 32 RC drill holes represent a total of 3,445 metres of drilling and an average depth of approximately 108 metres. Most assays relate to composite samples over 4 metre intervals.

The mineralised zone is concealed by less than 5 metres of transported cover, extends for at least 600 metres of strike, and remains open and sparsely drilled.

The immediate aim of the drilling is to assess and scope the full potential of the 9.5 kilometre-long aircrew gold anomaly centred on the 1 million ounce Bombara deposit.

"The Kopai results reinforce Breaker's belief that Lake Roe is a new, large gold camp centred on the 1Moz Bombora deposit, which itself continues to expand at depth," the announcement read.

Results are pending for a further 28 RC drill holes. Meanwhile, the company is planning follow-up drilling at Kopai, which will include shallow diamond drilling to obtain early information on the host rocks and mineralised structures.

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In fact, the three small cap shares listed below have been on fire. Here's why they have surged higher today:

The Biotron Limited (ASX: BIT) share price has rocketed 40% higher to 14 cents after the drug development company announced that its BIT225-009 HIV-1 Phase 2 data would be presented at an upcoming meeting in the United States. Biotron's shares have been on fire since it released results which indicated that BIT225 is having a unique effect in patients, over and above viral suppression seen with current antiretroviral drugs. It will now present this data at the HIV DART and Emerging Viruses 2018 meeting in Florida at the end of the month after being accepted by organisers. Management advised that the biannual meeting aims to bridge the gap between the latest scientific developments and routine clinical practice in the context of HIV infection and emerging viruses.

The Breaker Resources (ASX: BRB) share price has pushed 4% higher to 42 cents after the gold-focused mineral exploration company announced the discovery of high-grade lithium at the Lake Roe gold project in Western Australia. According to the release, five wide-spaced RC drill holes have all intersected significant widths of high-grade lithium oxide mineralisation below a 700-metre long outcrop of lithium-bearing pegmatite. Management now plans to gauge the size and economic potential of the discovery in order assist in formulating an "appropriate strategy for monetising it in a way that yields the maximum benefit to the company's core focus on gold."

The ResApp Health Ltd (ASX: RAP) share price is up 5% to 10.5 cents despite there being no news out of the struggling digital health company. The ResApp share price has been smashed this month following the release of disappointing trial results from its SMARTCOUGH C-2 study. Some investors appear to believe it has fallen to an attractive level, but I'm not convinced that this is the case. I would suggest investors stay well clear of ResApp.

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Three small caps that have posted strong gains today are listed below. Here's why they are on the rise:

The Breaker Resources NL (ASX: BRB) share price is up 7.5% to 35.5 cents after the gold exploration company released drilling results from its Lake Roe Gold Project in Western Australia. According to the release, all 37 drill holes intersected significant gold mineralisation. Of these, 21 holes extend the known parameters of the deposit to the east and at depth, whereas the other 16 holes were infill drilling. Management believes that the combined results further highlight the strong potential to increase the 1.1Moz resource and upgrade the resource classification. The next step for Breaker will be its pre-feasibility study which is underway and aims to create scope for early monetisation.

The Megaport Ltd (ASX: MP1) share price is up 4.5% to $3.62 following the release of its first quarter update. During the quarter the company continued its growth trajectory with another solid performance which included new and expanded data centre partnerships. Megaport reported a 20% quarter on quarter increase in its monthly recurring revenue to $2.4 million thanks to its growing data centre footprint, customer numbers, and ports. I think Megaport is one of the best small cap tech shares and worth a closer look.

The Telix Pharmaceuticals Ltd (ASX: TLX) share price is up 1.5% to 94.5 cents. At one stage the biopharmaceutical company's shares were up as much as 6.5% to 99 cents after announcing that it is preparing to commence recruitment for its ZIRCON Phase III trial for imaging of clear cell renal cell cancer (ccRCC) with 89Zr-girentuximab (TLX250). Telix has made the move after successfully completing a clinical trial notification submission to the Therapeutic Goods Administration and receiving its first Human Research Ethics Committee approval in Australia. The company now plans to recruit patients at a total of four clinical sites in Australia.

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