Queries orenda Gold no longer exists

We regret to inform you that the share certificate you hold belongs to a now defunct company and is of little current value. Orenada Gold Mines is no longer in existence, and the company’s original gold property near Val d’Or, Que., is currently owned by Aur Resources (TSE), a junior gold mining company. Aur acquired the property several years ago and has since conducted an underground exploration program on it. The company is studying the possibility of mining the deposit by open pit mining methods, but no production decision has yet been made.

Based on its work, Aur estimates the Orenada property contains a geological reserve of four million tons at an average grade of 0.05 oz gold per ton. Higher gold prices would be certainly improve the chances of mining this deposit.

Unfortunately, a series share consolidations and mergers involving Orenada Gold Mines have taken place over the last 40 years. These events have reduced your equity in Orenada’s new owner, Aur Resources, to a negligible amount.

According to our records, Orenada Gold Mines became First Orenada Mines on a one-for-four share consolidation in the late 1950s. In 1976 Orenada was amalgamated, along with seven other companies, to form Brominco Inc. on the basis of one new share for 100 old. In 1985, Brominco was merged into Aur Resources on the basis of 62.5 common shares of Aur for each one of Brominco (post consolidation).

After giving effect to the above share exchanges you would end up with the equivalent of about 15 shares of Aur Resources, we estimate. Shares of Aur Resources have traded at $3.70 recently on the Toronto Stock Exchange. You can contact the company’s transfer agent, Central Guaranty Trust, if you wish to redeem your certificate.

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