In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is fighting to stay in positive territory. At the time of writing, the benchmark index is up slightly to 8,554.4 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:
Bannerman Energy Ltd (ASX: BMN)
The Bannerman Energy share price is up 14% to $3.38. Investors have been buying the uranium developer's shares today despite there being no news out of it. However, it is worth highlighting that the uranium industry has been red hot this week with strong gains being made across the board. This has been driven by a jump in uranium prices. The catalyst for this jump was news that Canadian investment fund Sprott plans to acquire US$100 million in physical uranium. It appears to believe the chemical element is undervalued at current levels.
Clarity Pharmaceuticals Ltd (ASX: CU6)
The Clarity Pharmaceuticals share price is up 5% to $2.34. This morning, this clinical-stage radiopharmaceutical company announced that it has entered into a commercial manufacturing agreement with SpectronRx for its lead diagnostic product, 64Cu-SAR-bisPSMA. Clarity's executive chairperson, Dr Alan Taylor, commented: "This Agreement, combined with other supply and manufacturing agreements for isotope and finished product we have secured to date, ensures that we are ready to roll out large-scale manufacturing and distribution of 64Cu-SAR-bisPSMA on day one of commercialisation. This will enable a seamless launch as soon as we have US FDA approval."
DroneShield Ltd (ASX: DRO)
The DroneShield share price is up over 8% to $1.92. Investors have been buying this counter-drone technology company's shares despite there being no news out of it today. But with tensions escalating in the Middle East, investors may believe that DroneShield is about to get a boost in sales. This latest gain means that the company's shares are now up over 150% since the start of the year.
Lotus Resources Ltd (ASX: LOT)
The Lotus Resources share price is up 10% to 19.2 cents. This has been driven by a combination of rising uranium prices and the release of an update on the Kayelekera uranium project in Malawi. Lotus revealed that it has officially commenced cold commissioning at its Kayelekera processing plant. This is a key milestone ahead of the project's planned production restart in the third quarter of 2025. The company's managing director, Greg Bittar, commented: "The commencement of this critical restart stage positions Lotus well for Q3 2025 restart of production at Kayelekera."
The post Why Bannerman Energy, Clarity, DroneShield, Lotus Resources are charging higher appeared first on The Motley Fool Australia.
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 positions in and has recommended DroneShield. 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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