Four ASX shares that are falling more than most on Friday are listed below. Here's why they are ending the week in the red:

Dateline Resources Ltd (ASX: DTR)

The Dateline Resources share price is down 11% to 32.5 cents. This follows media reports about legal proceedings in the United States. The company notes that the proceedings relate "to the exercise of the long standing valid existing rights to conduct mining activities at the Colosseum Gold and Rare Earths Project." The company stated: "Dateline considers that the reporting and the position advanced by the applicants, as described, do not fully reflect the relevant historical context, including the status of valid existing rights associated with the Colosseum Gold and Rare Earths Project, and the Company does not agree with the assumptions made."

Northern Star Resources Ltd (ASX: NST)

The Northern Star share price is down 2.5% to $23.73. Investors have been selling Northern Star shares despite there being no news out of it. However, it is worth noting that most ASX gold stocks are falling today. This has seen the S&P/ASX All Ordinaries Gold index drop 2.2% in afternoon trade.

Rox Resources Ltd (ASX: RXL)

The Rox Resources share price is down 5% to 44.7 cents. This morning, this gold developer released its quarterly update. For the quarter, the company recorded a cash outflow of $31.9 million. However, it finished the period with a hefty cash balance of $200.4 million. Management also advised that it is taking steps to protect itself from the impacts of the war in the Middle East. This includes an increase in fuel storage capacity at Youanmi. It has increased its fuel storage from 190kL in March to over 430kL in mid-April. An additional fuel supply contract has been entered into.

Wesfarmers Ltd (ASX: WES)

The Wesfarmers share price is down 1.5% to $72.88. This may have been driven by a broker note out of Citi this morning. According to the note, the broker has downgraded the Bunnings owner's shares to a sell rating (from neutral) and cut its price target to $69.00 (from $90.00). Citi believes that elevated fuel prices and interest rates will weigh on consumer spending in the near term.

The post Why Dateline Resourcs, Northern Star, Rox Resources, and Wesfarmers shares are dropping today appeared first on The Motley Fool Australia.

Approvals in place

The company said in a statement to the ASX on Tuesday that it had received a key approval from the Department of Mines, Petroleum and Exploration, which would allow it to break ground on key elements of the project.

The company said:

This key approval allows construction to commence for the new Processing Plant, Tailings Storage Facility, and Power Station/Solar Array, as well as the redesign of the existing West Main Waste Rock Dump (to become the new Run-of-Mine (ROM)). The MDCP approval, supported by $350 million credit commitments from the previously announced syndicate of banks and the $200 million placement plus $18 million share purchase plan, allowed the Board to approve the final investment decision for Youanmi. Rox and the Syndicate Banks are now working towards execution of finance documents and satisfaction of typical conditions precedent. Financial close and first debt draw down is expected in the September 2026 quarter.

Rox said it would now start bulk earthworks and issue contracts for the power station and oxygen plant, while most early works streams had already started, and the construction of the accommodation facilities was ongoing.

Rox Managing Director Phill Wilding said it was a major milestone for the company.

Following the commitment of debt funding and receipt of the MDCP, the Board of Rox has now made its Final Investment Decision, paving the way for construction of the Youanmi Gold Project to begin. The project is now fully funded through to production, and over coming months we will work towards financial close while ramping up on-site construction activity. This is a pivotal milestone for Rox Resources, allowing us to remain on schedule with our pathway towards production as we prepare for our first gold pour by mid-2027.

Shares looking cheap

The analyst team at Canaccord Genuity recently ran the ruler over the Youanmi project and its implications for the Rox share price, and they believe there is significant upside to be had.

Canaccord said it had updated its model based on the recent new debt announcement and had kept its price target for the ASX gold stock at $1.15, compared with 50 cents currently.

The Youanmi project is expected to produce an average of 117,000 ounces of gold per year over a seven-year mine life, with a payback period of 1.9 years.

The post This ASX gold company has pulled the trigger on a new mining project in Western Australia appeared first on The Motley Fool Australia.

The team at Canaccord Genuity have run the ruler over the company's plans following this announcement, and have come out with a very bullish price target on the company.

More on that later, let's see what Rox announced this week.

Major milestone reached

The company said on Monday that in addition to $200 million in equity funding raised in December, it had entered into binding commitments for debt facilities with a consortium of banks including international banks as well as Westpac Banking Corporation (ASX: WBC) at home.

Managing director Phill Wilding said it was a major step for the company.

The commitment of debt funding from an impressive selection of Australian and International banks is yet another major milestone for Rox as we accelerate our pathway to production for the Youanmi Gold Project.

The debt funding process included a thorough due diligence process by the banks' Independent Technical Expert, which provides further validation of the robustness of Youanmi and our expectation that it will be a high-margin operation.

We will now work with the Syndicate Banks to achieve financial close, placing us in a position to commence draw down of debt in the September 2026 quarter.

The project is now fully funded through to production, and we look forward to making a Final Investment Decision later in this quarter, before commencing construction activities.

The company has already started development activities at the mine, with a shaft advancing towards the first mining level, the company said in February.

Shares looking cheap

The team at Canaccord Genuity expect the company's capital expenditure to build the Youanmi mine will be $400 million, compared to the company's own estimate of $383 million.

They said while a final investment decision had not yet been made, with early works progressing there was high confidence the project would be signed off.

In parallel, long-lead processing plant equipment had been secured following the appointment of a preferred EPC contractor, helping maintain project development timelines. Formal construction start at Youanmi is slated for early June quarter 2026 with first gold with first gold and ramp up anticipated for the June quarter 2027 or early. Recall that the Youanmi DFS outlines plans for a 7-year underground gold operation producing 117,000 ounces per annum.

Canaccord says it has updated its model based on the new debt announcement and has kept its price target for the ASX gold stock at $1.15, compared with 51 cents currently.  

The post This fully funded gold developer could more than double in value: Broker appeared first on The Motley Fool Australia.

Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:

Life360 Inc (ASX: 360)

The Life360 share price is up 28% to $33.99. Investors have been fighting to get hold of the location technology company's shares after it released a very strong fourth quarter update. Life360 revealed that its monthly active users (MAU) reached 95.8 million, up 20% year on year. This comprises US MAU of 50.6 million and international MAU of 45.3 million. Another positive was that its Paying Circles (paid users) grew 576,000 to 2.8 million. This was the largest annual net addition on record. In light of this, FY 2025 revenue is now expected to be between US$486 million and US$489 million. This represents a year on year increase of 31% to 32%.

Northern Star Resources Ltd (ASX: NST)

The Northern Star share price is up 6% to $27.78. This follows a jump in the gold price overnight, which is lifting most gold miners today. In addition, a note out of Bell Potter reveals that its analysts have retained their buy rating on its shares with an improved price target of $31.10. It said: "Despite the lower production and higher costs, NST managed to generate A$648m of operating mine cash flow (A$129m net mine cash flow) over the quarter. As the business comes to the end of the KCGM mill expansion we expect the business to generate materially higher FCF which may be distributed to shareholders or re-invested."

Objective Corporation Ltd (ASX: OCL)

The Objective Corporation share price is up 4% to $16.48. This morning, this content, collaboration, and process management solutions provider revealed plans to buy back shares. Starting next month, Objective Corporation will commence an on-market buy-back of up to approximately 9.6 million shares.

Rox Resources Ltd (ASX: RXL)

The Rox Resources share price is up 7% to 59 cents. As well as getting a big lift from the rising gold price, this morning this gold stock released its quarterly update. Its managing director and CEO, Phillip Wilding, spoke very positively about the quarter and its future. He said: "Rox has had a transformational quarter with the release of the DFS, commencement of underground mining and completion of the planned equity funding component of the project financing. Our DFS confirmed the financial and technical viability of the Youanmi Gold Project, with strong metrics, low costs and a moderate capital requirement."

The post Why Life360, Northern Star, Objective Corp, and Rox shares are charging higher today appeared first on The Motley Fool Australia.

Rox Resources shares closed up 7.1% on Friday, trading for 45.5 cents. At the time of writing, shares are changing hands for 46 cents apiece, up 1.1%.

This sees shares in the ASX All Ords gold stock up a whopping 130% over 12 months.

Here's what's happening today.

ASX All Ords gold stock invests in gold price 'insurance'

The Rox Resources share price is pushing higher after the miner announced it has invested in put options to protect against any potential decline in gold prices.

The ASX All Ords gold stock bought the put options from an unnamed "leading Australian bank". The miner paid an upfront premium of $9.7 million for the put options, which cover 40,400 ounces of gold.

The company said this will provide it with important cash flow protection during the first full year of production at its Youanmi gold mine, located in Western Australia, helping to de-risk the project's ramp-up.

The put options will cover approximately half of the forecast FY 2028 gold production at Youanmi.

They have a strike price of $5,700 per ounce.

If you're not familiar with put options, this means that Rox Resources has the right, but not the obligation, to sell ounces at the strike price at monthly maturities, which are split between the four quarters of FY 2028.

The ASX All Ords gold stock highlighted that it retains full exposure to rising gold prices, as it can simply let the options expire if the gold price is higher than the strike price at the time of maturity.

Rox added that the put option strike price is $500 per ounce above its November 2025 Definitive Feasibility Study (DFS) gold price assumption of $5,200 per ounce.

The gold spot price currently sits at US$4,339 per ounce ($6,552 per ounce in Aussie dollars).

What did Rox Resources management say?

Commenting on the put option investment that looks to be helping boost the ASX All Ords gold stock today, chief financial officer Greg Hoskins said:

For a modest outlay of under $10 million, the strategic purchase of gold put options provides valuable gold price protection and underwrites strong cash flow generation during the first full year of production at Youanmi.

Importantly, Rox maintains full exposure to rising gold prices, with its exposure capped at the upfront cost. We look forward to finalising the competitive project financing process in the new year and progressing towards a Final Investment Decision.

The post Up 130% in a year, ASX All Ords gold stock lifts off on 'valuable gold price protection' news appeared first on The Motley Fool Australia.

The company said it had received firm commitments to raise $200 million at 35 cents per share, with the amount raised worth more than half of the company's current market capitalisation of $343.5 million.

Rox shares fell 13.2% on the news to be changing hands for 39.5 cents around noon.

Big names backing the company

Rox said leading global investment manager L1 Capital was a cornerstone investor in the raise, taking up $60 million worth of shares.

Existing major shareholders in the company, Hawke's Point and Qgold, also took up major stakes consisting of $18 million and $25 million in new shares, respectively.

Current retail shareholders will also be able to subscribe for new shares up to a maximum limit of $10 million.

Mine funding well-progressed

The company said the placement proceeds would fully fund the equity component of the development of the Youanmi project, including project development capital expenditure and further resource definition and exploration drilling.

Having secured the equity component of the funding, the company would now seek to lock down debt funding for the project.

The company said in a statement to the ASX:

With equity funding now secured, the company is well positioned to conclude debt negotiations, which have already attracted significant interest from leading finance providers, and establish Rox as WA's next gold producer with first gold expected by mid-calendar year 2027.

Rox managing director Phill Wilding said it was a major milestone for the company.

The Youanmi Gold Project is a high-grade, high-margin project, as showcased in the recently announced definitive feasibility study. The placement capitalises on this momentum, with the level of support from existing and new shareholders being a testament to the compelling and robust business case for the Youanmi Gold Project, and the team that will deliver it. Securing these funds significantly de-risks the delivery timeline for the construction of Youanmi and ensures we can order long-lead items.   

The definitive feasibility study for the project, released in mid-November, estimated pre-production capital costs for the project of $383 million, with the project expected to generate pre-tax cash flow of $2.25 billion.

The study envisaged a short payback period of less than two years, with the mine producing gold at an all-in sustaining cost of $1978 per ounce.

The post Why are this gold developer's shares plunging more than 10% today? appeared first on The Motley Fool Australia.

Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:

Rox Resources Ltd (ASX: RXL)

The Rox Resources share price is down 15% to 38.5 cents. This morning, this gold developer announced that it has received firm commitments to raise approximately $200 million via a placement to a range of high-quality international and domestic institutional investors. This includes a cornerstone investment of $60 million from L1 Capital, which is a leading global investment manager. Management believes it is now well positioned to conclude debt negotiations, which have already attracted significant interest from leading finance providers, and establish itself as Western Australia's next gold producer. First gold is expected by the middle of 2027.

Telix Pharmaceuticals Ltd (ASX: TLX)

The Telix Pharmaceuticals share price is down 2.5% to $14.62. This may have been driven by news that several law firms have filed class actions against the radiopharmaceuticals company in the United States. They stated: "The Telix Pharmaceuticals class action lawsuit alleges that throughout the class period defendants made false and/or misleading statement and/or failed to disclose that: (i) defendants materially overstated the progress Telix Pharmaceuticals had made with regard to prostate cancer therapeutic candidates; and (ii) defendants materially overstated the quality of Telix Pharmaceuticals' supply chain and partners."

TPG Telecom Ltd (ASX: TPG)

The TPG Telecom share price is down 30% to $3.89. This has been driven by the telco's shares going ex-dividend today for a major capital return. Following the sale of its fibre assets and Enterprise, Government, and Wholesale (EGW) business to Vocus, TPG announced a return up to $3 billion to shareholders through a pro rata capital reduction and cash distribution of up to $1.61 per share. These funds will be paid to eligible shareholders later this month on 24 November. TPG Telecom's CEO, Iñaki Berroeta, said: "The proposed capital return marks a significant milestone in TPG Telecom's transformation into a simpler, mobile-led business – one that delivers a more efficient cost structure and a solid foundation for growth, both now and into the future."

Xero Ltd (ASX: XRO)

The Xero share price is down 2% to $124.81. Investors have been selling Xero and other ASX tech stocks on Friday following a selloff on the tech-focused Nasdaq index overnight. This has seen the S&P/ASX All Technology Index drop by almost 2.5% this afternoon.

The post Why Rox Resources, Telix, TPG Telecom, and Xero shares are dropping today appeared first on The Motley Fool Australia.

Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:

Aeris Resources Ltd (ASX: AIS)

The Aeris Resources share price is up almost 10% to 45 cents. This morning, Bell Potter upgraded this copper miner's shares to a buy rating with an improved price target of 65 cents. It commented: "AIS is a copper-dominant producer with its near-term outlook highly leveraged to the copper price and increasing production at Tritton, which is now the largest copper mine in Australia not owned by a major mining company and is an attractive corporate target, in our view. We lift our recommendation to Buy."

Capricorn Metals Ltd (ASX: CMM)

The Capricorn Metals share price is up almost 4% to $14.22. Investors have been bidding this gold miner's shares higher following the release of an update. Capricorn revealed that the Mineral Resource Estimate (MRE) for Orion South Underground has increased to 9.5Mt at 2.9g/t Au for 895,000 ounces of gold. The company's executive chair, Mark Clark, commented: "Increasing the Orion South underground resource by over 30% to 895,000 ounces in less than four months since the maiden underground resource is indicative of the emerging underground opportunity at Mt Gibson. Capricorn is committed to a strategy of growing the resource, delivering ore reserves and completing the work to validate our belief that Mt Gibson will become a long mine life open pit and underground mining operation."

Northern Star Resources Ltd (ASX: NST)

The Northern Star share price is up 3% to $26.00. The catalyst for this was a solid rise in the gold price overnight. Traders were bidding the gold price higher after weaker than forecast economic data in the United States boosted interest rate cut expectations. The S&P/ASX All Ordinaries Gold index is up 2.6% at the time of writing.

Rox Resources Ltd (ASX: RXL)

The Rox Resources share price is up almost 7% to 47 cents. This morning, this gold developer revealed that it has officially commenced underground mining operations at its Youanmi Gold Project. This was achieved after the first cut was fired at the United North pit. Management believes this marks a major milestone in its pathway towards production.

The post Why Aeris, Capricorn Metals, Northern Star, and Rox shares are rallying higher appeared first on The Motley Fool Australia.

In morning trade, the All Ordinaries Index (ASX: XAO) is up a healthy 0.38%.

But this mining stock is leaving those gains in the dust.

Any guesses?

If you said Rox Resources Ltd (ASX: RXL), give yourself a gold star.

Rox Resources entered a trading halt on Friday pending today's announcement.

The gold miner's shares closed Thursday trading for 14.5 cents each. This morning, the Rox Resources share price shot as high as 23.5 cents, up a whopping 62%. At the time of writing, it remains up an impressive 48% at 21.5 cents a share.

Here's what's driving investor interest in the ASX mining share today.

ASX mining share rockets on bonanza gold strike

The Rox Resources share price is off to the races after the company reported some very promising initial drilling results. Those come from the reverse circulation (RC) and diamond drilling (DD) programs at its Youanmi Gold Project, located in Western Australia.

The announcement was made in conjunction with its joint venture partner, Venus Metals Corp Ltd (ASX: VMC). The Venus Metals share price is up 11% on the news.

The ASX mining shares reported that the first of a series of holes at Youanmi returned continuous bonanza grades in RC drilling.

The release highlights results of 28 metres at 34.81grams of gold per tonne from 204 metres including:

• 18m @ 51.96g/t from 207m, including;
• 10m@ 79.55g/t from 211m, including;
• 3m @ 138.07g/t from 218m

The miner said the results open up a new near-mine area for exploration and potential high-grade resource growth. With the true widths currently unconstrained, follow-up drilling is planned to determine the orientation and dip direction of the discovery.

Commenting on the initial drill results sending the ASX mining share soaring today, Rox Resources managing director Robert Ryan said:

Youanmi South is just 250 metres from the Youanmi main open pit, yet historical drilling was largely restricted to the weathered zone so true geology has been unconstrained.

The exceptional grade and continuous high-grade tenor of the intersection in an area previously untested by drilling is cause for cautious optimism whilst we determine orientation of the mineralised zone.

Rox Resources share price snapshot

With today's big intraday leap factored in, the ASX mining share is up 19% in 2023. As you can see in the chart below, over the past 12 months the Rox Resources share price remains down 51%.

The post Guess which ASX mining share just leapt 62% on a 'bonanza gold' find appeared first on The Motley Fool Australia.

At the time of writing, Rox Resources shares have jumped 17.74% to 7.3 cents after rallying as much as 29.03% in morning trade.

Rox Resources is an emerging Australian minerals exploration company, with advanced gold and nickel projects in Australia.

The company owns a 70% interest in the Youanmi Gold Mine, and wholly-owns the Mt Fisher Gold Project, Fisher East Nickel Project and Colluabbie Nickel Project, all located in Western Australia.

Why is the Rox Resources share price spiking?

This morning, Rox Resources reported further high-grade gold results from the drilling program underway at the Grace prospect at Youanmi.

Rox stated that shallow infill drilling has returned more high gold grades, including:

• 4 metres at 88.81 grams per tonne (g/t) gold from 27 metres, including:
  • 2 metres at 176.03 g/t gold from 28 metres;
• 11 metres at 18.75 g/t gold from 8 metres, including:
  • 3 metres at 61.27 g/t gold from 10 metres; and
• 9 metres at 9.28 g/t gold from 9 metres, including:
  • 2 metres at 33.53 g/t gold from 11 metres.

These results relate to reverse circulation drilling designed to tighten drill spacing on the shallow high-grade part of the emerging Grace prospect to facilitate resource estimation.

Commenting on the results, managing director Alex Passmore said:

"These strong infill results are extremely encouraging and endorse our interpretation for Grace. The results, along with outstanding RC assays, will be complemented by upcoming diamond drilling to facilitate a maiden resource estimate, which we are aiming to have completed later this year."

Recent developments

Today's announcement follows another promising ASX release last week which saw the Rox Resources share price more than double.

The release also related to the drilling program being undertaken at the Grace prospect, with the deepest drilling completed to date returning impressive gold grades. This included 25 metres at 34.79 g/t gold from 143 metres, including 6 metres at 140.7 g/t gold from 150 metres.

With a share price of 7.3 cents at the time of writing, Rox Resource's market capitalisation currently stands at around $145 million. With today's rise, the Rox Resources share price has now rocketed 192% since the beginning of last week.

The post Rox Resources share price soars 18% after reporting further high-grade gold appeared first on The Motley Fool Australia.