As the new trading week unfolds, the S&P/ASX 200 Index is enjoying a strong performance, rising 0.9% to reach 7,989.9 points by the afternoon. Among the standout performers in today’s market are three ASX-listed shares that are gaining significant traction. Here’s a look at why Deep Yellow Limited (ASX:DYL), Encounter Resources Ltd (ASX:ENR), and Resolute Mining Ltd (ASX:RSG) are making headlines.
Deep Yellow Limited (ASX:DYL)
Deep Yellow Limited is also performing well, with its share price increasing nearly 2.69% to AU$1.23. This gain follows the uranium developer’s quarterly update, which highlighted substantial progress on its Tumas Project. The company announced that Ausenco Services Pty Ltd has been selected as the preferred contractor for the project's Engineering, Procurement, and Construction Management (EPCM) services. This development is seen as a critical step towards advancing the project, and the positive update has buoyed investor confidence in Deep Yellow’s future prospects.
Encounter Resources Ltd (ASX:ENR)
Encounter Resources is up 8.19% to AU$0.66, driven by news from its Sandover Copper project in the Northern Territory. The company reported that diamond drilling activities have commenced, following the discovery of high-grade copper mineralisation in the initial drill hole completed in late 2023. The new drilling aims to further explore the mineralisation and provide deeper insights into the project's potential. The positive drilling results and ongoing exploration efforts have heightened investor interest in Encounter Resources’ stock.
Resolute Mining Ltd (ASX:RSG)
Resolute Mining has seen its share price increase over 2.45% to AU$0.62 , buoyed by its quarterly update. The gold miner reported pouring 90,787 ounces of gold in the second quarter, marking an 18.9% increase from the first quarter and aligning with management's expectations. Additionally, Resolute Mining achieved gold sales of 88,321 ounces at an average realised price of AU$2,342 per ounce, up from 69,000 ounces at AU$1,950 per ounce in the previous quarter. This strong performance in gold production and pricing has positively impacted investor sentiment, contributing to the stock's gain.