You are here:

Canadian Stocks/1950's Canadian Mining Stocks

Expert: Steven Taylor - 9/16/2009

Question

Dear Steven, I have an 800 shares certificate from Eastern Mining & Smelting Corporation LTD. registered by Guaranty Trust, dated March 31, 1958. I also have an Annual Report from Nickel Mining & Smelting Corporation stating that it was formerly Eastern Mining & Smelting, dated April 30, 1958. Any value at all? Thank you! Don Ladanyi

Answer
Don, there looks there may be some value, but there were quite a few reverse splits and stock consolidations.

Eastern Mining did become Nickel Mining & Smelting after a 1 for 2.75 reverse. The company then did a 1 for 5, then a 1 for 2, before being acquired by Conwest Explorations on the basis of 0.42 for 1. That takes you to about 12 Conwest shares. Conwest was then acquired by Alberta Energy on the basis of 1.25 for 1. That would take you to about 15 Alberta Energy. Alberta Energy became Encana on the basis of about 1.42 Encana for 1 Alberta Energy. That would take you to (if my math and information is right) 21 Encana Shares, which trade for about $63 a share on the TSX.

Encana is in the process of splitting into 2 companies itself, so you really want to contact Encana's transfer agent as soon as possible. I believe it is CIBC Mellon (www.cibcmellon.com).