The S&P/ASX 200 Index (ASX: XJO) has just ended the week on a positive note. The benchmark index has risen 0.1% to 7,304 points.
Four ASX shares that climbed more than most today are listed below. Here’s why they were pushing higher:
Alkane Resources Limited (ASX: ALK)
The Alkane Resources share price is up 23% to 96 cents. This follows news that Alkane has intersected high-grade gold and copper mineralisation at its Boda prospect. Boda is located within Alkane Resource’s Northern Porphyry Project in central west NSW. The company believes this expedition could become a large tier 1 gold-copper project.
De Grey Mining Limited (ASX: DEG)
The De Grey share price is up 5% to $1.14. The catalyst for this was news that the company has reported strong gold results from its Diucon deposit at Hemi, located in Western Australia. Management advised that drilling at Diucon has increased the depth of mineralisation to approximately 550 metres below surface. Zones of higher gold grades, commonly associated with visible gold, continue to be intersected.
Nufarm Ltd (ASX: NUF)
The Nufarm share price is up 3% to $4.88. This follows the agricultural chemicals company’s annual general meeting this morning. At the event, management spoke positively about its outlook. It advised that it is experiencing continued strong demand for both its seed and crop protection products.
St Barbara Ltd (ASX: SBM)
The St Barbara share price is up 3% to $1.48. This appears to have been driven by a rise in the gold price overnight. It isn’t just the St Barbara share price which is rising on Friday. The S&P/ASX All Ordinaries Gold index has just closed a sizeable 4% higher.
The post Why Alkane, De Grey, Nufarm, and St Barbara shares are pushing higher appeared first on The Motley Fool Australia.
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More reading
- Here’s why the Alkane Resources (ASX:ALK) share price rocketed 24% today
- Why the De Grey Mining (ASX:DEG) share price is storming 7% higher today
- ASX 200 (ASX:XJO) midday update: BNPL shares sold off, Corporate Travel returns
- 5 things to watch on the ASX 200 on Friday
- Macquarie (ASX:MQG) upgraded these ASX gold shares to ‘buy’ for 2022
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 Bruce Jackson.
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