Expert: Steven Taylor - 8/15/2009

Question
Hi Steven,
I was wondering if you could could help me try to uncover some value in the following shares that I have by means of stock certificates, in my relatives name:

Tontine Mining
Maneast Uranium
Kirkland-Townsite Gold Mines Limited
Thompson-Cadillac Mining Corporation
Tri-Bridge Consolidated Gold Mines Limited
Goodfish Mining Limited
O'Brien Energy & resources Limited

Today I went to my local branch of the public library and researched in the FP's survey for predecessor and defunct companies and found out that most are worthless, does your pool of resources and knowledge point to a different conclusion? There are two that I found to still be around the first is Goodfish Mining now Probe Mines Limited and the second is Tri-Bridge now Leader Capital that recently bought out all holders with less than 500,000 shares. Now the splits that have occured from amalgamations and other events divide my holdings down to under a share. What happens when I own less then a share in payouts and the like? Also the book shows O'Brien Energy & Resources Limited to still be around but I can't find out anything else about it, can you help?


Any help would be greatly appreciated,
Thanks,

Simon

Answer
Simon, I agree that the first 4 names on your list appear to be worthless. The Tri-Bridge (now Leader) did go private by way of the 1 for 500,000 reverse split. Since your original position had been reversed down to under a share, you would be entitled to just the 51 cents. That makes it hardly worth the stamp to mail the certificate to the transfer agent, much less any fees the agent would charge you for possible reorganizations and providing proof of ownership.

For the O'Brien, I don't have any specific information on the current status, but I have information which indicates it is pretty much gone. The stock was delisted in 1988, but shortly afterwards they announced a very complicated transaction with numerous other companies. O'Brien shareholders received very little (if anything# in the proposed deal, as it was structured as an asset/debt swap, with O'Brien receiving assets in return. The surviving company was to be Richmond Gulf Resources. Some information does indicated that the transaction did occur #I don't specifically know if O'Brien was ultimately part of the deal, however) and Richmond Gulf did trade for awhile before it slipped away without a trace. Since O'Brien was to remain a company holding new certificates of the amalgamated company, it suggests O'Brien probably quietly slipped away as well. You could contact the Province of Incorporation and see if they have any information on what happened to them, or see if a broker can perform a more detailed search for you.