Canadian Stocks/Old Certificates
I am writing this for my employer. His sister passed away and she left him some old certificates. He is wondering if they have any value. Here is a list:
Danrod Prospecting Syndicate dated 10/17/1941
Frankview Oils Limited dated 12/27/1941
Frankview Oils Limited dated 1/28/1942
Kelrowe Gold Mines Limited dated 7/3/1941
New Malartic Gold Mines Limited dated 10/31/1941
New Malartic Gold Mines Limited dated 5/21/41
New Malartic Gold Mines Limited dated 4/1/1941
New Malartic Gold Mines Limited dated 5/31/1941
Sedley Prospecting Syndicate dated 10/30/1941
I appreciate any help that you can give.
Debbie, from the information I have available:
I have no information on Danrod or Sedley, as the are prospecting syndicates, not a publicly traded company. Syndicates were formed under a special set of laws and were usually sold to a very small number of people, usually friends and family, and formed to explore one specific area or property. When the money ran out, the Syndicate was disbanded and if they were lucky enough to find something, they would sell the property to another company, usually for stock, and distribute the stock in the new company to its members.
Frankview went through numerous name changes and reverse splits but eventually had its charter cancelled in the mid-1970's. No current value.
Kelrowe has gone through numerous changes, including several reverse splits (1 for 2.4, 1 for 2, 1 for 5, and 1 for 3.67# and is currently Orvana Minerals, which trades on the TSX for about 45 cents per share. You will need to contact the current transfer agent, Equity Transfer #http://tmxequitytransferservices.com/
) to determine if the old certificates are still valid.
New Malartic has no current value. The Company was dissolved in the 1960's.