TLG, TIE: Why these ASX All Ordinaries shares rose over 8% yesterday

2 min read | July 15, 2022 09:05 AM AEST | By Ashish

TLG, TIE: Why these ASX All Ordinaries shares rose over 8% yesterday — Image source: © Robynmac | Megapixl.com

Highlights

On Thursday, the benchmark ASX 200 index ended 0.44% higher.

Similarly, the ASX All-Ordinaries closed 0.60 higher at 6,848.60.

A bunch of All-Ordinaries shares gained yesterday on the back of positive price-sensitive updates by their respective companies.

The Australian share market ended in the green on Thursday despite global equity indices trading on a weak note after the release of higher-than-expected US inflation data. Consumer prices accelerated to a new 40-year high in June, raising concerns about an imminent large interest rate hike in the US.

However, the domestic market appeared to have shrugged off the shocking inflation data, with the benchmark ASX 200 index ending 0.44% higher. Similarly, the ASX All-Ordinaries, the oldest index of shares in Australia, closed 0.60 higher at 6,848.60 on Thursday.

There were a few shares on the All-Ordinaries index which gained over 8% during the day. These stocks advanced following positive price-sensitive updates by their respective companies.

Here we see why these two ASX All Ordinaries shares rose more than 8% yesterday.

Talga Group Ltd (ASX:TLG)

An ASX-listed tech firm, Talga Group is a battery anode and graphene additives company. Shares of Talga Group ended at AU$1.19, up 8.68% on Thursday.

The share price gained from the company’s price-sensitive announcement made on Wednesday. Talga informed the exchange that it had intersected high-grade graphite zones, during its initial drill campaign at its Swedish Vittangi graphite project.

“The 2022 drilling campaigns are designed to continue testing the large Vittangi JORC exploration target and is expected to contribute towards a further increase of Talga’s graphite resource scheduled for end of 2022,” added Talga.

Tietto Minerals Ltd (ASX:TIE)

Tietto Minerals is focused on gold exploration in Australia and West Africa. Shares of Tietto Minerals finished AU$0.40, up 8.22% on Thursday.

TIE shares gained after the company released a construction update for its 3.45-million-ounce flagship Abujar Gold Project.

According to the latest update, Tietto said that the construction was progressing as scheduled. The first gold pour is expected to happen in the fourth quarter of CY22.

Tietto also said that project’s construction work was now 80% complete.

“Tietto completed a AU$130 million two-tranche placement to accelerate the development of Abujar, with no debt. The placement allowed the participation of like-minded investors, keen for the Company to realise first gold production by Q4 CY22 and produce 260,000oz gold in 2023,” added Tietto.

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