Expert: Steven Taylor - 1/17/2010

Question
My mother bought 125 shares of Congress Gold Mines Ltd. in 1950. Congress Gold Mines was incorporated in B.C., the stocks were countersigned by The Canada Trust Company. I can't find anything online about them, are the shares worthless? Thank you.

Answer
Unfortunately, from the information I have available, the shares became worthless shortly after your Mother bought them. The Company had its charter cancelled in 1956, which is what the government does when a company fails to file its required regulatory and financial information (and pay its taxes and fees) for several years in a row, usually because they are already out of business.