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Two elderly Port Elizabeth fishermen were attacked early on Monday morning while fishing near the Blue Hole in Noordhoek in Marine Drive.
Colonel Priscilla Naidu says the victims were accosted by two suspects, one of whom was wielding a firearm.
The 76-year-old sustained several stab wounds while his 66-year-old friend sustained two stab wounds.
The suspects ran off with a bag containing fish, fishing equipment and pants with a total value estimated at R5 800.
Colonel Naidu says the suspects also punctured two tyres each on both of the victim's cars.
They were taken to hospital for treatment where the 76-year-old was treated and discharged and the 66-year-old was admitted to hospital.
A case of armed robbery and assault with intent to do grievous bodily harm is under investigation.
Police are warning fishermen and joggers to be wary of their surroundings and to avoid fishing or jogging in quieter areas, during early or late hours of the day.