The S&P/ASX 200 Index (ASX: XJO) is on course to end the shortened week with a decline. At the time of writing, the benchmark index is down 0.6% to 8,742.5 points.
Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:
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Brightstar Resources Ltd (ASX: BTR)
The Brightstar Resources share price is down 8% to 52.2 cents. Investors have been selling this gold miner's shares following the release of a production revision. Brightstar revealed that it achieved production and sales of 4,652 ounces of gold in November. This is down from its unreconciled production update, which initially indicated total recovered gold production of 6,300 ounces. Brightstar's managing director, Alex Rovira, commented: "Whilst this is an unfortunate set-back to the November processing campaign, all stakeholders remain confident that optimal conditions in future processing will see a material lift in recoveries in line with historical processing data."
EVT Ltd (ASX: EVT)
The EVT share price is down 2% to $12.82. This morning, this hotel, cinema, restaurant, and resorts operator announced the acquisition of QT Auckland. It is a premium lifestyle hotel located in Auckland's Viaduct precinct. EVT has agreed to pay NZ$87.5 million (~A$76 million) to secure the asset. Management believes the acquisition secures long-term brand presence in a key strategic location and further strengthens its owned hotel portfolio. EVT also announced the sale of Rydges Geelong for $24.5 million. It was previously designated as a non-core asset.
Monash IVF Group Ltd (ASX: MVF)
The Monash IVF share price is down 15% to 69.5 cents. This has been driven by news that the consortium comprising Genesis Capital Investment Management and Washington H. Soul Pattinson and Co Ltd (ASX: SOL) has withdrawn its non-binding indicative proposal. It was looking at a deal to acquire 100% of Monash IVF at $0.80 per share by way of a scheme of arrangement. No reasons were given for the withdrawal of the proposal. It only stated: "If there are material developments in the future, Monash IVF will inform shareholders as required under its continuous disclosure obligations."
Pro Medicus Ltd (ASX: PME)
The Pro Medicus share price is down almost 3% to $225.64. This is despite there being no news out the health imaging technology company. However, it is worth noting that the tech sector is under pressure today ahead of the Christmas break. This has seen the S&P ASX All Technology index drop 1.2% on Wednesday.
