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

Capricorn Metals Ltd (ASX: CMM)

The Capricorn Metals share price is down 1% to $6.81. This morning, this gold miner revealed that its chief executive officer, Kim Massey, will retire from the role at the end of January. The company has acted fast and has named its current chief operating officer, Paul Criddle, as Massey's replacement. The release notes that Criddle is a metallurgist with extensive experience in developing and operating gold mines in both Australia and Africa. Executive chair, Mark Clark, said: "Since joining Capricorn in May this year Paul has made a strong contribution to both the operations and corporate areas of the business and most pleasingly his leadership has been a fantastic cultural fit for the Company. I look forward to the experience, energy and vision that he brings to the role."

Insignia Financial Ltd (ASX: IFL)

The Insignia Financial share price is down 3% to $3.49. This has been driven by news that the financial services company has rejected a takeover offer from Bain Capital. The private equity firm had offered $4.00 cash per share. However, the Insignia Financial board believes this undervalues the company and isn't in the best interests of shareholders. It said: "[T]he Proposed Transaction does not adequately represent fair value for IFL shareholders in the context of a change of control transaction and that it is not in the best interests of IFL shareholders to engage with Bain Capital in relation to the Indicative Proposal."

Sayona Mining Ltd (ASX: SYA)

The Sayona Mining share price is down almost 4% to 2.6 cents. This is despite the lithium miner announcing that its CEO has made an on-market trade this week. According to a change of director's interests notice, Lucas Dow bought 2.5 million shares through an on-market trade on Tuesday at an average of 2.9 cents per share. This represents a total consideration of $72,500.

Southern Cross Gold Ltd (ASX: SXG)

The Southern Cross Gold share price is down 4.5% to $3.75. This follows the release of results from two drill holes from the Rising Sun prospect at its 100%-owned Sunday Creek Gold-Antimony Project in Victoria. While the company was pleased with the results, the market appears to have been expecting more from them.

The post Why Capricorn Metals, Insignia, Sayona Mining, and Southern Cross Gold shares are falling today appeared first on The Motley Fool Australia.

This has led to the S&P/ASX All Ordinaries Gold index rising by a sizeable 1.8% in morning trade.

Two under-the-radar ASX gold shares that are rising more than most today are listed below.

Let's see what is putting a rocket under their shares on Friday:

Kingsgate Consolidated Limited (ASX: KCN)

The Kingsgate Consolidated share price is up over 11% to $1.76.

Investors have been bidding this ASX gold share higher today in response to an update on its Chatree gold mine in Thailand.

According to the release, Plant 1 at the gold mine has now been permitted to operate following a successful inspection by the Department of Primary Industries and Mines.

The company advised that full commissioning of Plant 1 will commence immediately, followed by a ramp up to full operations.

Kingsgate's managing director and CEO, Jamie Gibson, described this approval as an "incredibly important milestone." He commented:

This is an incredibly important milestone for our company and represents the final piece in the puzzle in the journey to rebuild the Chatree Gold Mine. With both plants now operational, we are excited about unlocking Chatree's full potential.

Kingsgate Consolidated shares are now up 25% over the last 12 months. This would have turned a $10,000 investment one year ago into $12,500 today.

Southern Cross Gold Ltd (ASX: SXG)

The Southern Cross Gold share price is up almost 14% to $3.05.

Surprisingly, this is despite there being no news out of the Victorian Goldfields based gold explorer.

However, it is worth noting that its shares have been on fire over the last 12 months amid excitement over the company's 100% owned flagship project at Sunday Creek. The company describes this as "the best new grassroots discovery in Australia with a globally leading high-grade hit rate for this stage of the project's development."

Excitement has been so high that the ASX gold share is now up 460% since this time last year. This would have turned a $10,000 investment into over $55,000 today.

However, it is worth noting that there are a couple of leading brokers that appear to believe its shares are now fully valued. Shaw and Partners has a buy rating and $2.61 price target on its shares, whereas Bell Potter has a speculative hold rating and $2.05 on them.

The post 2 under-the-radar ASX gold shares shining 11% brighter on Friday appeared first on The Motley Fool Australia.

The All Ordinaries Index (ASX: XAO) is down 0.5% in morning trade on Tuesday. And most of the miners are doing it even tougher, as witnessed by the 1.1% decline in the S&P/ASX 300 Metals & Mining Index (ASX: XMM).

But this ASX mining share leapt 78% in early trade, with shares swapping hands for 89 cents apiece. After some likely profit taking, shares are trading for 73.5 cents at the time of writing, up 47% for the day.

Any guesses?

If you said Southern Cross Gold Ltd (ASX: SXG), go to the head of the virtual class.

Here's why investors are bidding up the Southern Cross Gold share price today.

Why is this ASX mining share soaring today?

Southern Cross Gold shares are trading today for the first time since 31 August.

The stock entered a trading halt pending an announcement "in relation to material exploration results" at the miner's Sunday Creek Project, located in Victoria.

The ASX mining share released that announcement this morning, and it clearly has investors excited.

The company reported on results from the best hole it's yet drilled at the project, noting "a spectacularly wide and high-grade intersection of gold-antimony mineralisation".

Southern Cross Gold said it considers both gold (AU) and antimony (Sb), which are included in its gold equivalent calculations (AuEq), to have reasonable potential to be recovered at Sunday Creek.

Results from this top hole intersected 404.4 metres at 5.6 grams per tonne of gold equivalent from 374.0 metres (uncut), and it traverses 13 individual high grade vein sets.

Seven intervals have more than 100 g/t Au (up to 2,670 g/t Au); 20 intervals have more than 15 g/t Au; and 20 intervals have more than 5% antimony (up to 55.8% Sb).

The miner reported that visible gold has been noted in multiple individual restricted zones to date.

Commenting on the results sending this ASX mining share rocketing today, managing director Michael Hudson said:

This is the best hole drilled at Sunday Creek, with almost three times more contained gold as our previous best hole. It is also one of the top drill holes drilled globally by any ASX-listed gold company this year…

To have already discovered this many high-grade hits, at this early stage of the discovery history, is an extremely meaningful result.

Southern Cross Gold has four drill rigs operating in ongoing exploration at the project. The miner is awaiting results from numerous other drill holes from the laboratory.

Southern Cross Gold share price snapshot

With today's big intraday boost factored in, this ASX mining share is up 109% over 12 months.

The post Guess which ASX mining share just exploded 78% on a 'spectacularly wide' discovery appeared first on The Motley Fool Australia.