Expert: Steven Taylor - 12/19/2009

Question
I just found old stock certificates for Crescent Mines Ltd (Jul 24 1980), Power-Can Resources Ltd (Jun 10 1983) ("Name changes to P.C.R. Industries Ltd."), and Lincoln Resources Inc.  Are any of these worth anything?  How do I track this down?  And if they are, how do I go about getting the money?  (With unknown stocks that are this old, is there a benefit or drawback from getting rid of them sooner rather than holding on to them longer?)  Thank you so much!!!

Answer
From the information I have available:

Crescent Mines did a reverse split to Redwing Resources. Redwing was dissolved and struck from the corporate register, and there was no value for common shareholders.

Power-Can did become PCR Industries, and then did a further 4 reverse stock splits and 6 name changes. It is currently Eacom Timber, which trades on the NEX Board of the TSX Venture Exchange for about 70 cents a share. However, with all the reverse splits (4 I know of - a 1 for 3, then a 1 for 3, then a 1 for 2, then a 1 for 4), it is likely your original number Power-Can shares have been reduced to only a small fraction of Eacom. You need to contact the current transfer agent, Computershare (www.computershare.com) who can tell you what you currently own and get the old shares reorganized.

Lincoln did a 1 for 10 reverse split, which became United Lincoln. United later merged into Continental Gold, which was acquired in 1991 by Placer Dome for $20 cash per share. If you did not receive the cash at that time, it would have been turned over the government for safekeeping for you. You need to search the lost property offices of every State or Province in which you lived from the time you bought the shares until the merger. Today, you can search most States (and some Provinces) for free online at www.naupa.org and www.missingmoney.com (try both sites - they have different states and provinces participating).

In regards to holding on to such old stocks, you can see from the history of these that they will often reverse split, change names, and try another line of business or new property. Often, the window of profit on junior companies closes fast, so unless you have the available risk capital, experience, and attention required to buy and sell such stocks, it really doesn't make sense for most investors to hold such "found" stocks.