Canadian Stocks/Old Mining shares
We have found paperwork for shares in our parents estate. Haven't been able to find any information whether they are still of any worth.
My mother moved in 2006 and might not have had the address changed. I have a stock certificate for 500 shares in Salem Mines Ltd issued 28/1/74 in my fathers name. He passed in 2005
My mother had financial reports sent in her name up to 2005 from the following names
1994-1996 Gold City Mining Corporation
2002-Gold City Industries Ltd
2005- changed to San Gold Corporation
Not sure if we are looking at 2 different stocks.
Any information about theses companies would be greatly appreciated.
Mavis, from the information I have available:
Salem has no current value. The Company had a name change before being dissolved in the late 1970's.
The Gold City and San are the same company. There was a 1 for 3 reverse split, then a 1 for 7 reverse split, and then a merger with San Gold on the basis of 1 San share for each 1.9321346 shares of Gold City. San Gold went bankrupt in June 2015 and the shares are suspended from trading. It is extremely unlikely to ever have any value in the future, but I suggest you contact the transfer agent (www.canstockta.com) to see if your Mom is still a shareholder. If so, she could at least potentially declare a loss on the investment for potential use as a tax loss.