In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record another strong gain. At the time of writing, the benchmark index is up 0.8% to 7,524 points.
Four ASX shares that are climbing more than most today are listed below. Here’s why they are rising:
Eagers Automotive Ltd (ASX: APE)
The Eagers Automotive share price is up over 2% to $14.40. This morning the automotive retailer announced an agreement with WFM Motors to acquire a portfolio of dealerships and associated properties located in Canberra for approximately $205 million. The portfolio covers a range of brands including Toyota, Ford, Volkswagen, Jeep, Lexus, Subaru, Mitsubishi, Volvo, and GMSV.
Firefinch Ltd (ASX: FFX)
The Firefinch share price is up almost 13% to $1.06. Investors have been buying the mineral exploration company’s shares after it announced that it has been granted a mining licence covering the Finkola exploration licence. The Finkola licence is located 23 kilometres north-west of Firefinch’s Morila Gold Mine and contains the Beledjo-Koting gold deposit and other prospects.
Latin Resources Ltd (ASX: LRS)
The Latin Resources share price has jumped 24% to 9.4 cents. This follows the release of the first assay results from drilling at the Salinas Lithium Project in Brazil. These results have confirmed spodumene rich pegmatites that contain high-grade lithium, with a peak grade of 3.22% Li2O returned from one sample. Management believes the results point to a potential major new lithium discovery.
Piedmont Lithium Inc (ASX: PLL)
The Piedmont Lithium share price is up 2% to 97 cents. This morning the lithium developer announced that its partner, Atlantic Lithium, has completed a mineral resource estimate update for the Ewoyaa Project in Ghana. Atlantic Lithium’s new mineral resource estimate is a total of 30.1 million metric tonnes at 1.26% Li2O. This represents a sizeable 42% increase on its previous estimate. Piedmont has the option to earn-in a 50% interest in this project.
The post Why Eagers Automotive, Firefinch, Latin Resources, and Piedmont Lithium are rising today appeared first on The Motley Fool Australia.
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More reading
- Why is the Firefinch (ASX: FFX) share price soaring 12% to a 14-year high?
- Here’s why the Eagers Automotive (ASX:APE) share price is climbing today
- ASX 200 (ASX:XJO) midday update: Telstra CEO steps down, Fortescue confirms E.ON deal
- Latin Resources (ASX:LRS) share price shoots 28% higher on potential ‘major new lithium discovery’
- Why is the Piedmont Lithium (ASX:PLL) share price storming higher today?
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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