Word: quemont
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...stock, Quemont gold and copper, was selling for 30? a share on March 6. March 7 it closed at $2.98. Last week it hit $8.50. A Chinese laundryman, who bought 10,000 shares in 1942 for two cents a share and sold when the stock reached a dollar (profit: $9,800) could have bought every Chinese laundry in Toronto if he had waited a few days more...
Some of the penny stocks, like Quemont-whose mine in western Quebec has yielded high-assay ore-have genuine mines behind them. But the only claim of some is that they are located next door to something good, and many of the promoted properties do not even exist...
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