In September 2014 I warned investors against Highveld Steel, I told them I expected the company to go bust.
Back then Highveld Steel shares traded at 555c, down from an all-time high of R188.75 a share!
Then on 14 April 2015 the company announced it would go into business rescue proceedings.
At the same time I told investors to watch out for Firestone Energy.
And since then Firestone's... ››› more
In October 2014 I warned investors reading my MoneyMorning column against investing in three specific JSE listed penny stocks.
Of those three Evraz Highveld Steel lost 66% of its value, you'd be lucky to sell the shares in Chempsec if you hold any.
And Firestone Energy is nearing bankruptcy…
It's closer than ever to close its doors. And still I get investors asking me whether they shou... ››› more
Firestone Energy is an exploration and development mining company. The company has a listing on the Johannesburg Stock Exchange…
Full name: Firestone Energy Limited
Short name: Firestone
Sector: Basic resources – mining
Five top facts about Firestone Energy
Firestone Energy is primarily interested in the exploration and development of coalfields.
Fact #2... ››› more
A recent survey of on international stock exchange, the ASX, found that as much as a third of the 2,100 companies listed there are at risk of financial catastrophe.
In fact, 58% of the bottom 500 companies on the ASX published warnings they could go bust within 12 months.
But surely this isn't the case in South Africa, is it?
Well if that’s what you thought, you’re sadly mistaken my fr... ››› more
One of the world's largest, highest grade platinum resources was just discovered. It's estimated the site contains enough platinum to mine for 50 years. And the costs will be rock bottom. It'll cost $500 to mine per ounce of platinum produced and there'll be hundreds of thousands of ounces taken out the ground every year. Simply put, this new discovery will become a mine that's a serious cash cow ... ››› more
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