In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small decline. At the time of writing, the benchmark index is down 0.1% to 8,521.9 points.
Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:
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Aurelia Metals Ltd (ASX: AMI)
The Aurelia Metals share price is down 25% to 23 cents. Investors have been selling this gold miner's shares after it released its guidance for FY 2026 and its aspirational outlook for the following two years. Aurelia Metals is forecasting a sizeable drop in production in FY 2026 with higher operating costs. And while it expects a rebound in production the following year, it is then forecasting another sizeable decline in FY 2028. This appears to have disappointed investors and fallen significantly short of the market's expectations.
Centuria Office REIT (ASX: COF)
The Centuria Office share price is down 2.5% to $1.20. This appears to have been driven by a broker note out of Bell Potter this morning. According to the note, the broker has downgraded the office property company's shares to a sell rating with a reduced price target of $1.10 (from $1.20). It said: "We appreciate that there is deep value in this name (-28% discount to NTA) when taking a long-term view (given white collar employment growth and limited new supply) but considering the lack of near-term catalysts and BP estimates for negative FFO growth (-14% FY25 & -1% FY26) we see better relative value elsewhere in the sector."
Meeka Metals Ltd (ASX: MEK)
The Meeka Metals share price is down 11.5% to 15.5 cents. This has been driven by the completion of the gold developer's institutional placement. Meeka has raised $60 million at a discount of 15 cents per new share. Meeka's managing director, Tim Davidson, said: "With this funding in place the Company is now focused on maximising the expanded open pit mining opportunity, confirming the pathway to bring forward production with increased processing capacity and defining further growth opportunities with the drill bit."
Resolute Mining Ltd (ASX: RSG)
The Resolute Mining share price is down 10% to 59.7 cents. This reflects broad weakness in the gold industry today after the US Federal Reserve elected to not cut interest rates overnight. It isn't just Resolute Mining that is falling. The S&P/ASX All Ordinaries Gold index is down 10% at the time of writing.
