Why 4DMedical, Dateline, Predictive Discovery, and Wildcat shares are racing higher

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small gain. At the time of writing, the benchmark index is up 0.2% to 8,597.4 points.

Four ASX shares that are rising more than most today are listed below. Here’s why they are climbing:

4DMedical Ltd (ASX: 4DX)

The 4DMedical share price is up 12% to $1.86. This morning, the respiratory imaging technology company signed a significant expansion of its distribution agreement with Koninklijke Philips NV (NYSE: PHG). This is for its FDA-cleared, non-contrast computed tomography (CT) ventilation and perfusion imaging solution, CT:VQ. It is the world’s first technology capable of extracting quantitative ventilation-perfusion (VQ) data from routine non-contrast CT scans. Management estimates that it has an addressable market of more than US$1.1 billion annually in the U.S. and over US$2.6 billion globally.

Dateline Resources Ltd (ASX: DTR)

The Dateline Resources share price is up 3.5% to 28.5 cents. This follows the release of drilling results from the 100%-owned Colosseum Gold and Rare Earth Element (REE) Project in California. Dateline advised that results from a further two reverse circulation holes drilled below the North Pit have provided gold assay results that exceed the mineral resource grade for the indicated blocks that they intercepted. Management expects this result to improve the mineral resource grade for the blocks.

Predictive Discovery Ltd (ASX: PDI)

The Predictive Discovery share price is up 16% to 72.7 cents. This has been driven by news that Perseus Mining Ltd (ASX: PRU) has tabled a superior takeover offer this morning. The gold miner has offered 0.136 new Perseus shares per Predictive Discovery share. This valued each Predictive Discovery share at 77.8 cents, which is a 24.5% premium to its last close and values its equity at $2.1 billion in total. Perseus advised that it expects the transaction to enhance its portfolio quality and the company’s African gold platform.

Wildcat Resources Ltd (ASX: WC8)

The Wildcat Resources share price is up almost 4% to 27.5 cents. This morning, the lithium explorer revealed that it has signed a Native Title Agreement over its 100% owned Tabba Tabba Project with the Nyamal native title holders. Wildcat’s chair, Jeff Elliott, commented: “We thank the Nyamal people for their continued support of the Project and successful negotiation of the Native Title Agreement. We look forward to continuing a close relationship with the Nyamal people, to unlock the benefits from this exciting new project in the Pilbara.”

The post Why 4DMedical, Dateline, Predictive Discovery, and Wildcat shares are racing higher appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.