West High Yield (W.H.Y.) Resources Ltd. (CVE:WHY), a junior explorer, skyrocketed after agreeing to sell its interest in some mineral properties for US$750 million
An unbelievable asset purchase price likely left many investors in a junior explorer asking WHY Friday. Here’s some small stocks making big moves on Friday, October 6, 2017 (as of 4 pm EST):
West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) shares skyrocketed 456% to $2 on Thursday before being halted on Friday after the junior explorer announced that it has agreed to sell its interest in its Record Ridge South, Midnight, and O.K. mineral properties to Gryphon Enterprises, LLC for a purchase price of US$750 million.
As well, shares of Spearmint Resources Inc. (TSXV: SRJ) rose 13% to $0.045 as the resource junior said it has agreed to acquire 100% of the WHY WEST Magnesium project as well as the BUDDY claims, both in British Columbia.
Zonte Metals Inc. (TSXV: ZON), meanwhile, reported Phase 1 drill results as well as highlights from the late summer 2017 field exploration program at its McConnells Jest Project located in the Yukon Territory, which included 32.02 metres of 0.49 g/t gold. Zonte Metals stock dropped 41% to $0.19 following the announcement.
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West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) shares skyrocketed 456% to $2 on Thursday before being halted on Friday after the junior explorer announced that it has agreed to sell its interest in its Record Ridge South, Midnight, and O.K. mineral properties to Gryphon Enterprises, LLC for a purchase price of US$750 million.
