Expert: Steven Taylor - 2/18/2011

Question
My father purchased 300 shares in 2 lots of Arjon Gold Mines Limited in May and October 1950. They are Toronto Stock Exchange issue through Davidson and Company. I would like to know if they are worth anything. Thank you.

Answer
Martin, from the information I have available, I don't believe your father's shares have any current value. The company has changed names numerous times, but the biggest issue for your father's shares is the reverse stock splits it has also gone through. It has done a 1 for 10, then a 1 for 3, then a 1 for 2, then a 1 for 10, then a 1 for 25. Those reverses would have reduced your father's shares to less than 1. When a reverse leads to less than 1 share, the holder is usually given a small payment (a few cents per share, if they are lucky) and the holder is removed from the shareholder list.