The S&P/ASX 200 Index (ASX: XJO) is having a subdued start to the week. At the time of writing, the benchmark index is down 0.2% to 7,032.1 points.
Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:
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Coronado Global Resources Inc (ASX: CRN)
The Coronado share price is down 3% to $1.88. Investors have been hitting the sell button today after the coal miner downgraded its FY 2023 guidance. Due to issues at both its Curragh and Buchanan mines, the company has reduced its saleable production guidance and lifted its cost guidance.
De Grey Mining Limited (ASX: DEG)
The De Grey Mining share price is down 3% to $1.08. This follows the completion of the gold developer's capital raising. De Grey Mining revealed that firm commitments have been received for a fully underwritten two tranche placement of approximately 285.7 million shares at a price of $1.05 per share to raise $300 million.
Kingsgate Consolidated Limited (ASX: KCN)
The Kingsgate share price is down over 3% to $1.17. This morning, this gold miner released a corporate update relating to the Chatree Gold Mine. Management advised that it has been working prudently to manage the cash flow associated with the restart of the mine. While this all sounds positive, some investors may not believe this will be enough to prevent a capital raising down the line.
Woodside Energy Group Ltd (ASX: WDS)
The Woodside share price is down 1% to $36.15. Investors have been selling Woodside and other ASX energy shares following a pullback in oil prices on Friday night. This has led to the S&P/ASX 200 energy index falling 0.6% this morning.
