Expert: Steven Taylor - 10/19/2011

Question
I have inherited some old gold mine stocks. Could you please tell me if they are of any value.
1.
500 shares in Redwood Gold Mines Limited issued Oct 20,1944
2.
50 shares in Longrose Gold Mines Limited issued Nov 1, 1947

Thankyou in advance.

Answer
Rob, from the information I have available:

Redwood did a 1 for 3 reverse stock split and became New Redwood. New Redwood seems to have stopped making their required regulatory filings sometime around the mid-1980's. There has been no sign of the company at all since then. They also made a DTC list from 2005 of inactive securities without transfer agent services, which strongly suggests the company was long out of business at that time. Guaranty Trust was the old transfer agent, but is also long out of business, and further evidence suggests there was no transfer agent from that same period onwards. To further investigate the company, I suggest you either contact the Province of Incorporation (listed on the certificate) or contact a broker and see if they can perform a more detailed search for you.

Longrose Gold Mines has no value. The Company had its charter cancelled in the 1960's.