As I recall, this was a (American?) gold mining company that had plenty of gold-bearing land amongst its assets but was having problems raising funds to begin mining operations and extraction. For a long time it was a penny share but appeared to have massive potential. Unfortunately, it ceased trading in December 2002 and went into administration. I still hold a lot of stock in this chap and have no idea whether the shares are worthless or not. My nominee dealer has not removed them from my portfolio (like they have done with other dogs I bought - MFW, SIP) which makes me wonder if there is still some notional value.

Can anybody shed any light? Cheers.

Thanks Parkin. I did contact my broker who told me that as this was a US based company it can take several years for the administrators to decide what to do with the assets - so all is not necessarily lost for shareholders. It seems to me that this company still has a wealth of potential assets in the goldfields that it still owns the mining rites on. I am suprised that no other larger gold player has come in to rescue them or but them out. (Or maybe that is still on the horizon - wishfull thinking!).