Expert: Steven Taylor - 3/4/2011

Question
My Grandfather purchased some unit with the Elbow Lake Golden Zone Mining Syndicate on Oct 26th 1938. What has become of the company and is there any value to these shares today.

Answer
Bob, I have no information on that syndicate, as it was never publicly traded. Mining Syndicates were organized under special regulations, and were not public companies, nor were they publicly traded. They are special purpose entities, usually formed to explore a specific property or area. Money is raised for exploration by issuing percentage units to a very limited number of people (usually friends or acquaintances) which can be as few or ten or less, but rarely more than 100. Because of the limited nature of the syndicate, their history and ultimate value are very difficult to track down. Your best approach is to contact the Province under which the units were issued and see if they have any information available.