ASX shares have trended higher on Tuesday afternoon as falling oil prices help ease some inflation concerns.
Silex Systems develops and commercialises laser technology to sort and separate different types of isotopes to prepare uranium for nuclear power plants.
On Tuesday afternoon, the ASX uranium company's shares are up around 4% to $4.61 a piece. The increase is great news for investors after the beaten-down stock fell 16% over the past month, and is down 48% for the year-to-date.
The latest increase follows a recent announcement that Global Laser Enrichment has signed an exclusive Offtake Agreement with partner Cameco Corporation. Under the agreement Cameco will buy all of the future production of GLE's planned Paducah Laser Enrichment Facility, in Kentucky.
A recent uptick in uranium prices has also likely supported Silex shares. Trading Economics data shows that the metal is trading around US$90 per pound, close to a six-month high.
Market Index data shows brokers are bullish on the outlook for the stock. All brokers have a strong buy rating and the $10.33 average target price implies an upside of around 125%.
The ASX shares started rebounding again but the sell off accelerated again after it posted its FY26 results last month.
Zip posted a record result, including a large 57.9% increase in its cash EBTDA, a 24.7% increase in total revenue, and a 45.7% hike in its NPAT for FY26.
Deep Yellow shares are up around 4% and are changing hands at $1.39.