Expert: Steven Taylor - 11/22/2010

Question
i found some old jonsmith mines limited stocks my mother had who got them from my grandparents possession when they passed.there are 2 forms each one is for 500 shares. i was wondering if they still exist or have been bought out and name changed and if there worth anything?please let me know if you have any information for me. thank you

Answer
Glenn, I could not tell from your question if you have "Jonsmith Mines Limited" or "Old Jonsmith Mines Limited" shares, but I suspect they are "Jonsmith Mines Limited". If so, they did a 1 for 200 reverse stock split and became New Jonsmith Explorations. New Jonsmith was acquired in 1977 for 16 cents per share.

Considering the massive reverse stock split and the small amount of money it would translate to, as well as the fact that it was over 30 years ago, I don't think there is any value there. However, you should check the missing property sites (www.missingmoney.com and www.naupa.org) to see if there is any money out there in your grandparent's names.