Why Silex Systems, SCEE, Titomic, and WA1 shares are storming higher today

The S&P/ASX 200 Index (ASX: XJO) is out of form again on Wednesday. In afternoon trade, the benchmark index is down 0.45% to 8,355.5 points.

Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:

Silex Systems Ltd (ASX: SLX)

The Silex Systems share price is up 10% to $6.15. This morning, the company announced that GLE, its exclusive licensee of the third-generation laser-based SILEX uranium enrichment technology, has been selected by the US Department of Energy (DOE) as an awardee under the its LEU Enrichment Acquisition request for proposals. The award provides a minimum contract value of US$2 million and a maximum aggregate value for all awardees totalling US$3.4 billion. The final award value will depend on agreed task orders to be subsequently issued by the DOE.

Southern Cross Electrical Engineer Ltd (ASX: SXE)

The SCEE share price is up 13% to $1.57. This morning, this engineering company announced that it has been awarded a range of projects in the data centre, commercial, manufacturing, resources and water sectors. Management advised that the contracts total $125 million. Commenting on the news, SCEE Group Managing Director Graeme Dunn said: "This announcement, with works on a new desalination plant in WA, and major transport projects in Victoria and NSW, clearly demonstrates SCEE's broad exposure to Australian infrastructure expenditure."

Titomic Ltd (ASX: TTT)

The Titomic share price is up 8% to 19.5 cents. This morning, this cold spray solutions provider announced that it has successfully co-developed and sponsored a new cold spray standard for aerospace with SAE International. Titomic USA president, Jim Simpson, said: "SAE AMS7057 compliance validates Titomic's cold spray technology and strategically positions the Company to capitalise on a range of U.S. Government opportunities and initiatives aimed at fostering domestic innovation and manufacturing, such as Department of Defense contracts for military asset repairs, NASA programs for lightweight aerospace components, and Office of Strategic Capital efforts to strengthen domestic supply chains through advanced manufacturing technologies."

WA1 Resources Ltd (ASX: WA1)

The WA1 Resources share price is up 11% to $16.18. This is despite there being no news out of the niobium explorer today. However, it is worth noting that the company did recently report excellent beneficiation results from initial variability testing on a composite sample comprising three drillholes covering over 400m east-west extent in the northeast zone of the Luni deposit.

The post Why Silex Systems, SCEE, Titomic, and WA1 shares are storming higher today 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 no position in any of the stocks mentioned. 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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