In afternoon trade, the (ASX: XJO) is on course to record a small decline. At the time of writing, the benchmark index is down slightly to 7,758.1 points.
Four ASX shares that are falling more than most today are listed below. Here's why they are dropping: ( ) The Black Cat Syndicate share price is down 14.5% to 29.
5 cents. This morning, this gold developer announced firm commitments for a $36 million two-tranche placement to institutional and sophisticated investors. These funds are being raised at sizeable discount of $0.
27 per new share. The proceeds will be used to support the restart of the 100% owned Paulsens Gold Operation. Managing Director, Gareth Solly, said: "We have now secured immediate funding to commence the major refurbishment works and the high-grade stockpile strategy at Paulsens.
Planning for mobilisation of MACA Interquip and Cream Mining has commenced, with first gold expected to be processed in 2024." Brainchip Holdings Ltd ( ) The Brainchip share price is down 3% to 24.7 cents.
With both and announcing their latest artificial intelligence chips this week, investors may be heading to the exits in a hurry. After all, it is hard to see how Brainchip could ever compete with its rivals given their massive budgets and trusted brands. In addition, given how easily they could swallow up Brainchip, the lack of any takeover interest appears to indicate that they don't see Brainchip's technology as anything to take seriously.
( ) The Cooper Energy share price is d.
