CEY is a gold mining company operating in Egypt. It was ordered by the Egyptian Government to stop drilling pending a legal dispute brought against the company by a government minister.

Since then, the whole Government cabinet was replaced a few months ago and the minister now in charge of Mining is believed to be positive on Western investment in the country. CEY are pushing for this minister to allow them to continue drilling ASAP; investers are waiting....patiently.

As soon as the company gets the go-ahead to continue drilling, the share price will move north; CEY has plenty of gold in this mine and it is (apparantly) the case of "raking" it out rather than drilling for it!

Check them out...worthy of a punt.

Just a couple more pence to go, come on...

This looks like a good opportunity to get in

confess i had forgotten about this little "2008 recommended" of mine! ..... took profit some time back at a much higher level and with gold now trying to strengthen, perhaps time to re-invest

Bought back in myself last week, look to steadily increase over the coming months.
the closer to production the more interested peeps will become. Eqypt new laws allowing take overs should be up and running, which could make CEY a prime candidate?
aimho
cyril

New article that will be of interest to holders IMO, click HERE



Friday, August 29, 2008
Centamin Egypt 12 million ounces of gold and rising
by Stuart Watson

Centamin Egypt is an unusual junior miner due to the sheer size of its Sukari project. With resources approaching the 12 million ounce mark, its a development worthy of any gold major.

As a company, Centamin has been around for a long time. It joined the ASX back in 1970 but our interest in the story begins in 1999 when it bought Pharaoh Gold Mines. Pharaoh had been exploring at Sukari in the east of Egypt, near the Red Sea, for four years.......

For full article, clink the hyperlink below;

Something went wrong with the link in the above post, to read the full article, CLICK HERE

Seema that gold is back in fashion, perhaps the safer (if their such a thing) investment at the moment?
http://www.menafn.com/qn_news_story_s.asp?StoryId=1093212302
cyril

Bought some more this morning, maybe premature, but hoping this is indeed a double bottom.

Never sen anything like events lately, couldn't understand why gold didn't perform yesterday in all the turmoil, but by christ hasn't it got the wind beneath its wings today, every fund imagineable must be piling back in... up $84 so far today... and i was contemplating going long yesterday at $780... hindsight eh?!

good grief! .... i thought you had missed a fullstop!

exactly, when will normality return???

and curiously the gold producers had another dull day

stopped out of last lot, but 29-29.5p this morning, i would love to pile in for more, but that chisel is looking very sharp...

Wheres the big drop this morning...?
*looks under settee, nope not there*
topped up yesterday at 25.5p and this kind of resiliance is surely encouraging...

It is looking tempting.

going great guns at the mo, if it pulls back towards 25dma will top up...

Questor in the Telegraph picks CEY as one of six-winning-shares for 2009:


http://www.telegraph.co.uk/finance/markets/questor/4123642/Questor-picks-six-winning-shares-for-2009.html

Centamin Egypt is seeking to raise C$60,000,200 via a placing with a syndicate of underwriters which has agreed to purchase 92,308,000 shares and sell them on to the public at a price of C$0.65 per share.

The Syndicate has also been granted an option to purchase a further 13,846,200 shares on the same basis.

The offering is expected to close on 17 Febraury 2009.

The Company intends to use the net proceeds for the continued development of the Sukari Gold Project, underground development, other exploration and general corporate and working capital purposes.

The requirement for additional development funds is primarily a result of recent movements in the US dollar to Canadian dollar exchange rate and construction delays at the Sukari Gold Project.

The Company says it remains debt free, without gold hedging and on track for gold production in Q2 2009.


Explains the drop today, surely if this goes off well it is a good time to get on board, production in 9 months or less. Gold spot at that time? $800-????? relative value in ????

How much dilution does this share issue represent?