Wed Sep 25 02:12:21 UTC 2024: ## ASX Shares on the Rise: Core Lithium, Fortescue, Mineral Resources, and Webjet Lead the Pack

**Sydney, Australia -** The Australian stock market saw a positive day on Wednesday, with the S&P/ASX 200 Index (ASX: XJO) tracking a slight gain. Several companies saw significant share price increases, driven by positive developments and market sentiment.

**Core Lithium (ASX: CXO)** saw its share price surge by 7.5% to 10.75 cents following a resource update for the Finniss Lithium Project in the Northern Territory. While the overall project ore reserve decreased slightly, the BP33 ore reserve saw a substantial increase, providing a strong foundation for ongoing restart studies and a projected operating life of 9.5 years.

**Fortescue Metals Group (ASX: FMG)** shares climbed 5% to $18.96 on news of a significant expansion of its partnership with Liebherr. This partnership will see the development and validation of zero-emission mining solutions, powered by Fortescue’s battery power system. The investment of up to US$2.8 billion (A$4 billion) signifies the company’s commitment to sustainability and its ambition to build one of the world’s largest zero-emission mining fleets.

**Mineral Resources (ASX: MIN)** shares also rose by 5% to $41.13. This increase was attributed to the completion of the sale of a 49% interest in the Onslow Iron haul road to Morgan Stanley Infrastructure Partners. The transaction yielded a substantial upfront cash consideration of $1,100 million, highlighting the strategic importance of the haul road in unlocking stranded iron ore deposits in the West Pilbara region.

Finally, **Webjet (ASX: WEB)** shares gained 7% to 92.2 cents, potentially driven by a broker note from Morgans. The analysts issued an “add” rating and a 95 cents price target on the online travel agent’s shares following its recent demerger from Web Travel Group Ltd. This positive outlook reflects the strong performance of the Webjet OTA business and the GoSee global travel e-commerce group.

Overall, the ASX experienced a positive day, with several companies demonstrating strong performance based on company-specific news and market sentiment. The continued focus on sustainability and growth, coupled with positive industry trends, seems to be driving investor confidence and influencing share price movements.

Read More