Coppercorp looks like lost cause

I would like some information about a company named Coppercorp Ltd. which formerly traded on the Toronto Stock Exchange.

Some years ago there were indications that this company was in some way associated with Campbell Chibougamau Mines, a firm that I believe is now operated by Campbell Resources. I have written twice to Campbell but get no reply.

Really, all that I want to know is whether my shares have any value and if so approximately what. I enclose a copy of one of my certificates. J.T.H., St.Louis, Mo., USA

We hold very little hope for the shareholders of Coppercorp Ltd. Certainly there is no market for the shares, which have been under a permanent cease trading order since Oct 18, 1974.

A former copper producer in the Mamainse area north of Sault Ste. Marie, it was last operated by the J. P. Sheridan interests which installed a 500-ton mill in 1965 which operated continuously until late ’72 when it closed due to low copper prices.

Four years later when it appeared the company was about to go under, Campbell Chibougamau, which disclosed that it had acquired a substantial share interest, saved the property by paying certain Ontario government rental arrears. It then called an annual meeting and installed its own board of directors. But nothing ever developed from that move.

We have recently spoken to both the above parties, neither of which showed any interest whatsoever in trying to resuscitate this company. It has no board of directors and no assets. We therefore conclude it to be a lost cause.