Why Core Lithium, Deep Yellow, EML, and Wildcat shares are falling today

These ASX shares are having a tough time on Wednesday. But why?

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The S&P/ASX 200 Index (ASX: XJO) is having a good session on Wednesday. In afternoon trade, the benchmark index is up 0.35% to 7,039.3 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price is down almost 6% to 29.7 cents. This is despite there being no news out of the lithium miner today. However, it is worth noting that a number of lithium shares are taking a tumble on Wednesday. Falling lithium prices appear to be behind this.

Deep Yellow Limited (ASX: DYL)

The Deep Yellow share price is down over 5% to $1.04. This follows the release of the uranium developer's drilling update. According to the release, Deep Yellow's drill program has successfully increased the Tumas 3 mineral resource by 11% in the indicated mineral resources category to 60.6Mlb at 325ppm eU3O8 using a 100ppm cut-off grade. Investors may have been expecting stronger results.

EML Payments Ltd (ASX: EML)

The EML share price is down 29% to 78.2 cents. Investors have been hitting the sell button following the release of a trading update and the results of its strategic review. The former revealed that its earnings growth has been strong during the first half, but is continuing to be held back by the company's European operations. The PFS Card Services Ireland Limited (PCSIL) business' cash burn is currently estimated at ~$20 million, which is significantly below target.

Wildcat Resources Ltd (ASX: WC8)

The Wildcat share price is down 8% to 77.5 cents. This morning, this lithium explorer released drilling results from the Tabba Tabba Lithium Project, near Port Hedland. Some investors may be disappointed with the reported lithium grades. Though, with the Leia pegmatite now more than 2km long, it does look like it could be a monster operation.

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 positions in and has recommended EML Payments. 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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