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Canadian Stocks/Mining Stocks

Expert: Steven Taylor - 5/31/2011

Question

We have 2 units from "Gold Flake Mining Syndicate". Can you tell me if they have any value, what they may now be known as?

Best Regards
Per Frekhaug
Norway

Answer
Unfortunately, I have no information on Mining Syndicates at all, and almost no one does, either. Anytime you see the term "Mining Syndicate" you can be almost 100% sure it was not a publicly traded company. Mining Syndicates were allowed under a separate segment of the law from corporate law which allowed shares (or units, as in this case) to be sold privately as an exemption to corporate securities laws. They were usually sold to a very small number of people (anywhere from a few to a few hundred) privately by word of mouth. The syndicate was established to prospect or explore a specific area or property. When the money raised by the syndicate ran out, the syndicate usually just informally dissolved and faded away, often without properly notifying the Province under which it was established. That is why Syndicates are extremely difficult to track down.

The best I can offer is that you contact the Province under which the Syndicate was formed (in this case, probably British Columbia, as Vancouver is listed as the site of the signature) and see if they have any information on it.

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