Heritage Oil has agreed to be bought out by Tullow Oil Plc for $1.5 billion. Heritage's main operation is in Uganda, a rather quiet place outside the realm of most foreign investors. Tullow won the bid after outbidding Eni SpA so there were some heavy hitters trying to establish roots down here.
Rio Tinto has been sniffing around in the other commodities Uganda has to offer as they bought one item from IBI in the Vermiculite sector.
The ultimate penny stock is located there with a lot to offer if they are indeed legitimate, IBI (http://www.ibinvest.com/); currently trading at a penny.
They have, according to the company, the cream of the land in regards to gold and uranium and a wildly speculative upshot with rare earth elements.
Time will tell but I am aiming for the type of percentage gains that made Guma Aguiar a billionaire. The problem is: how much of one's net worth can you put into a company like this. I believe setting aside a little at a time so you can forget about ever owning it. Unless of course, you start participating in the company's activities by active research which reduces the risk and maximizes the comfort zone, which is important for a big position.
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