Fortesque metals, long considered a stalwart of Aust. blue chip companies lost 24% then regained 17% within a month all the while it was (& still is) at risk of going bankrupt. Iron ore started out the decade @ ~ $10/tonne. (when Twiggy started out with his little show) At it's peak a few months back iron ore was @ ~ $180/tonne. That's an 18 fold increase in price and Fortesque still got into trouble. Even now with the price back at $100/tonne there's no reason Fortesque shouldn't be raking in the cash. Twiggy Forest was even removed from the director's role by ASIC so the blame doesn't rest solely on his shoulders. The rebound in the share price comes only because Fortesque somehow conned it's creditors that it shouldn't pay it's debts due now, for another 3years. Is that because they don't have any cash now? i.e. you either wait 3 years for something or get nothing now! Call me prudent but this is one 'big player' I won't be including in my portfolio.
Yes Twiggy's a gambler. Much safer ways to play resources that will still give you a capital profit plus a ff dividend while you wait. Everything's stacked against you getting rich quick on the ASX
