Canadian Stocks/value of old mines and oil stocks
Expert: Steven Taylor - 11/13/2010
QuestionCan you tell me if these stocks have any value
Consolidated Indore Uranium Mines Limited
Agnico Mines Limited
Bibis Yukon Mines Limited
West Plains Oil Resources Limited
AnswerChuck, from the information I have available:
Consolidated Indore had its assets acquired by United Uranium, which later went out of business and had its charter cancelled.
Bibis Yukon did a 1 for 5 reverse split and became International Bibis Tin, which did a further 1 for 4 and became Laurasia Resources. Laurasia was acquired by Startech Energy on the basis of 24 cents PLUS 0.0362 of a Startech share for every share of Laurasia. Startech was acquired by ARC Energy Trust on the basis of 0.96 of an ARC Trust Unit for every share of Startech. ARC trades for about $23 per unit today. You need to contact the current transfer agent, Computershare (www.computershare.com) to confirm if the old certificate is valid and, if so, to get the old shares reorganized.
West Plains went out of business and had its charter cancelled.
Agnico became Agnico Eagle, which currently trades on the NYSE for about $80 per share. That transfer agent is also Computershare.