A check of our database shows that Inspiration Ltd. went bankrupt in 1970 due to losses in its construction division. (This company should not be confused with Inspiration Resources Corp. (TSE) which is a currently active U.S. natural resources company.)
According to our records, there was a distribution of 20 cents on the dollar made to unsecured creditors of Inspiration Ltd. in January 1974. A final distribution was made to creditors in 1980. Since the company became insolvent, we haven’t received any information about it, nor have we been advised of a cancellation of its original Quebec charter. However, it appears doubtful that your stock certificate has any current value.
Inspiration Ltd., formerly called Inspiration Mining and Development Co., had been in the mine contracting, drilling and construction business during the period 1935-70. Several reports about the company in the 1960’s indicated it was incurring significant financial losses at the time.
Of interest is the fact that in 1963, Inspiration was awarded a contract to drill two 5,000-ft holes into a unique rock formation known as the Muskox Intrusion in Canada’s Arctic. The work was done as part of the International Upper Mantle project, a research endeavor in the earth sciences.
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