Mining stocks have taken over the TSXV today. While some are seeing green, a pair has taken the opposite route, and their shares are tanking. Jayden Resources (TSXV:JDN) and Westhaven Ventures (TSXV:WHN) stock has fallen in dramatic fashion today. Let’s take a closer look at why this happened!
Jayden Resources Stock Tumbles: What Gives?
JDN stock has fallen nearly -90% today. The company hasn’t released an official investor update since January 4th. At this time, the company announced the official numbers of its shareholder dividends being distributed this month.
The payment date of the distribution of these shares was yesterday. So the mining stock’s share plummet today is a result of its investors cashing out.
Jayden’s announcement from the 4th explains:
“Sellers of Jayden’s common shares during the Due Bill Basis Period will also sell their entitlement to the Dividend to the respective purchasers of such common shares. Jayden’s shares will commence trading on an “ex” basis without an attached Due Bill entitlement to the Dividend from the opening of trading on January 22, 2019, the next trading day after the Payment Date. The last day for settlement of trades during the Due Bill Basis Period will be January 23, 2019 which is the Dividend Due Bill redemption date.”
According to Yahoo Finance, the mining stock is currently trading at $0.02 a share, down -$0.14 (-87.88%).
Westhaven Ventures Continues its Drop
Yesterday, Westhaven Ventures was seeing the greatest share losses on the TSXV out of all the mining stocks. Today, it seems to be heading down that same route. The company released positive drill results from its Shovelnose project, but investors didn’t seem impressed.
According to Yahoo Finance, WHN is currently trading at $0.73 a share, down -$0.11 (-13.10%). Since it released its drill results, the mining stock has fallen nearly -40%. It remains unknown at this time when the Vancouver-based mining stock will turn over.
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