Why Breaker, Healius, Northern Star, and Tietto Minerals shares are charging higher

The S&P/ASX 200 Index (ASX: XJO) has started the week deep in the red. At the time of writing, the benchmark index is down 0.7% to 6,945.3 points.

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.

The post Why Breaker, Healius, Northern Star, and Tietto Minerals shares are charging higher appeared first on The Motley Fool Australia.

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More reading

• Why is this ASX gold share rocketing 36% higher today?
• ASX 200 gold shares are starting the week with a bang. Here’s why
• Why this ASX All Ords healthcare share is defying the market weakness and zooming higher
• Healius share price jumps 7% on takeover approach from smaller rival
• 5 things to watch on the ASX 200 on Monday

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.

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