Why Capstone Copper, Dateline, DroneShield, and Lindian shares are falling today

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week on a positive note. At the time of writing, the benchmark index is up 0.3% to 8,874.5 points.

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

Capstone Copper (ASX: CSC)

The Capstone Copper share price is down 3.5% to $14.90. This appears to have been driven by the release of an update on the Mantoverde operation, where some workers are on strike. Capstone advised that individuals entered the desalination plant facilities on 18 January and interfered with its electrical system. This resulted in the interruption of water supply to Mantoverde. Striking union members are preventing access and the restart of facility operations at the desalination plant. Mantoverde’s sulphide operations have been halted and oxide operations will be halted tomorrow unless water supply is restored. Capstone advised that it “is currently seeking judicial support to regain access to the desalination plant to restore water supply to Mantoverde and resume operations.”

Dateline Resources Ltd (ASX: DTR)

The Dateline Resources share price is down 3.5% to 36.2 cents. This has been driven by the completion of a $35 million institutional placement. The gold and rare earths explorer has raised $35 million through a strongly supported placement at a discount of 31 cents per share. Dateline’s managing director, Stephen Baghdadi, commented: “This capital enables us to act decisively in advancing development, expanding drilling, and testing deeper targets, while progressing a potential U.S. listing strategy. Our focus remains squarely on execution and value creation for shareholders.”

DroneShield Ltd (ASX: DRO)

The DroneShield share price is down 5% to $4.49. This is despite there being no news out of the counter-drone technology company today. One broker that is likely to see this as a buying opportunity is Bell Potter. On Thursday, the broker put a buy rating and $5.00 price target on its shares. It believes the company could benefit from the US Public Safety market. The broker said: “We believe the key catalyst for DRO in CY26 is the potential awards stemming from the US Public Safety market, notably from the US$250m funds allocated to states hosting the FIFA World Cup and the America 250 events for C-UAS protection. We would be disappointed if DRO did not receive material awards from these events.”

Lindian Resources Ltd (ASX: LIN)

The Lindian Resources share price is down 2% to 47.5 cents. This follows the release of the rare earths and bauxite company’s quarterly update. The company saw its cash balance fall from $85 million to $57 million during the three months. Though, this was largely due to equipment and project costs totalling $19.3 million. It also made a $15.1 million payment for the final tranche to increase its ownership of Rift Valley Resource Developments to 100%.

The post Why Capstone Copper, Dateline, DroneShield, and Lindian shares are falling today appeared first on The Motley Fool Australia.

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• Is the DroneShield share price heading to $5.00?
• 5 things to watch on the ASX 200 on Thursday

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended DroneShield. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.