In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a decent gain. The benchmark index is currently up 0.55% to 8,876.5 points.
Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:
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Gorilla Gold Mines Ltd (ASX: GG8)
The Gorilla Gold Mines share price is down 5.5% to 41.5 cents. This follows the release of an update on ongoing exploration and growth drilling at the 100%-owned Comet Vale Project in Western Australia's Goldfields. While the market appears to have been expecting better, CEO Charles Hughes was pleased with its drilling program. He said: "This maiden diamond drill-hole clearly demonstrates the growing scale and tenor of the King Kong lode, and gives us a good look at what the broader Lakeview mineral system looks like."
Nextdc Ltd (ASX: NXT)
The Nextdc share price is down 1% to $14.41. This morning, this data centre operator revealed that it has increased its senior debt facilities to $6.4 billion after securing a new $3.5 billion facility. NextDC's CEO, Craig Scroggie, commented: "In light of recent record contract wins that are accelerating our revenue and earnings growth, NEXTDC is well positioned with A$6.4 billion in debt facilities and pro forma liquidity of approximately A$5.5 billion. This strong financial flexibility enables us to confidently deliver on our record contracted capacity pipeline while maintaining our industry-leading momentum."
South32 Ltd (ASX: S32)
The South32 share price is down 5.5% to $2.89. Investors have been selling this diversified miner's shares following the release of an update on its Mozal Aluminium operation. Management revealed that its negotiations with stakeholders in Mozambique "do not provide confidence that Mozal will secure sufficient and affordable electricity beyond March 2026." As a result, it will now "limit investment in Mozal, stopping pot relining and standing down associated contractors starting this month." It then warned that "[w]ithout access to sufficient and affordable electricity, we expect that Mozal will be placed on care and maintenance at the end of the current agreement."
Telstra Group Ltd (ASX: TLS)
The Telstra Group share price is down 2.5% to $4.85. This has been driven by the release of the telco giant's FY 2025 results. Telstra reported a 4.6% increase in underlying EBITDA to $8.6 billion. This was driven largely by its key mobile business, which reported a $235 million year on year increase in EBITDA thanks to higher ARPU. Looking ahead, Telstra expects its cash EBIT to grow 5.5% to 10% in FY 2026. This appears to have been short of what some were expecting.
