Expert: Steven Taylor - 10/20/2009

Question
I recently found shares in Cove Uranium Mines Ltd. that dates back to 1956. I found little upon research but what I did find leads me to believe that they have no value. Can you please confirm?

Answer
Unfortunately, I have no definitive answer about Cove. However, I do see that they were penalized by the US SEC several times on their Canadian Restricted List for selling shares to US citizens without proper US registration, which is illegal. That is a very bad sign, as most companies that do that are less than solid.

If there is a transfer agent listed on the certificates, I would contact them first. You could also try the Province of Incorporation and see if they have any information available. Or, you could contact a broker and see if they can perform a more detailed search for you.