Expert: Steven Taylor - 3/12/2011

Question
Hello Steven,
                         I found an old certificate for Richrock Mines issued to me in 1978. Apparently, this company had some issues with the Select Standing Committee in 2003 but I don't know how it all resolved. Does it still exist and does my certificate have any value ?   Thanks,  Phil

Answer
Phil, Richrock was struck from the corporate register in 1985. That meeting of the Standing Committee in 2003 was to hear a petition from an individual in Victoria to the B.C. legislature to restore Richrock's corporate charter in an attempt to revive the company. The reason for that was not for the benefit of the shareholders of Richrock, but instead that Richrock had a 49% interest in some B.C. mineral properties, and the 51% holder of the property (who also owned almost all the Richrock common shares) wanted to sell the properties to a third party. To do so, he needed someone to represent Richrock's interest so he could get his money from the sale. I don't see that Richrock ever returned to filing its required corporate information, so it appears the shares currently have no value.