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ASX shares started the week with vigor, as the S&P/ASX 200 Index bounced back into action. At the time of writing this article (Mon 22 Apr 3:55 PM AEST), the benchmark index boasted a 0.96% gain, reaching 7,640.30 points.
Here are three ASX shares that stand out among today's movers and shakers:
29Metals Ltd (ASX:29M)
The 29Metals share price enjoyed a notable 7% increase, reaching AU$0.467. The surge followed an announcement by the copper miner regarding a binding terms sheet for a US$50 million offtake finance facility with Swiss mining giant Glencore. This financial boost is expected to provide additional liquidity as the company's Capricorn Copper operation undergoes suspension and prepares for a successful restart. Additionally, insurers have pledged a further interim progress payment of AU$16 million for the surface component of its Capricorn Copper insurance claim, bringing the total insurance proceeds to date to AU$40 million.
Base Resources Ltd (ASX:BSE)
Base Resources saw an impressive 124% surge in its share price, reaching AU$0.235. This surge was fueled by the news of the minerals sands producer entering into a binding scheme implementation deed (SID) with Energy Fuels. Under this agreement, Base Resources will be acquired in a deal valued at 30.2 cents per share in scrip and cash, amounting to approximately AU$ 375 million for the company's total equity.
South32 Ltd (ASX:S32)
Shares of South32 surged by 6%, reaching AU$3.37. The uptick followed the release of the mining giant's third-quarter update, which revealed that its production in FY 2024 is largely in line with year-to-date expectations. The company remains on track to meet nearly all of its guidance for the financial year. However, the Australia Manganese operation faced disruptions due to Tropical Cyclone Megan last month, resulting in a downgrade of its guidance. The company highlighted that recovery plans are in progress to ensure a safe return to operations and ore exports.
