The S&P/ASX 200 Index (ASX: XJO) is on form again on Wednesday. In afternoon trade, the benchmark index is up 0.15% to 7,045.3 points.
Four ASX shares that are climbing more than most today are listed below. Hereâs why they are rising:
ALS Ltd (ASX: ALQ)
The ALS share price is up almost 5% to $12.09. Investors have been buying this testing services companyâs shares after it released a trading update. ALS advised that it has continued to successfully execute its strategic growth agenda, delivering strong growth. So much so, it has upgraded its FY 2023 underlying net profit after tax guidance range to between $312 million and $322 million. Its previous guidance was $300 million to $320 million.
Centaurus Metals Limited (ASX: CTM)
The Centaurus Metals share price is up 5.5% to 95 cents. This morning, this nickel explorer announced outstanding high-grade results from stepout drilling at its Jaguar operation. Management believes these results reinforce the world-class nature of the Jaguar Deposit, supporting its expectations for further resource growth.
Pilbara Minerals Ltd (ASX: PLS)
The Pilbara Minerals share price is up almost 3% to $3.96. Investors have been buying this lithium minerâs shares after it announced that its board has approved the capital investment for the P1000 Project. This will ultimately see the Pilgangoora Project increase its spodumene production capacity by 320,000 tonnes to 1 million dry metric tonnes (dmt) per annum.
Westgold Resources Ltd (ASX: WGX)
The Westgold share price is up 4% to $1.25. This follows the release of an update on the gold minerâs Big Bell mine. According to the release, Westgoldâs drilling has identified high grade potential beyond current pre-feasibility study limits.
The post Why ALS, Centaurus Metals, Pilbara Minerals, and Westgold shares are rising today appeared first on The Motley Fool Australia.
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More reading
- Is the lithium price now on the way back up?
- Broker says buy Pilbara Minerals shares now for 44% upside
- Pilbara Minerals share price races higher on ‘important milestone’
- Why the outlook for these ASX 200 lithium shares could be ‘very favourable’
- Here are the top 10 ASX 200 shares 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 Scott Phillips.
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