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.

only 5 more trading days to q3

They didn't get rid of me and I'm a small holder, well you would think I was Tanker. :-)

.

RNS Number : 6680Q

Capital Drilling Limited

24 October 2011

24 October 2011

Capital Drilling Limited

("Capital Drilling" or "the Group")

New Contract Awards

Capital Drilling Limited (CAPD: LN), the emerging and developing markets drilling company, is pleased to today announce further contract wins and extensions.

The new contracts are as follows:

Contract 1 - Centamin Egypt

Capital Drilling Egypt has recently been awarded a new four year production drilling contract with Centamin Egypt (LSE: CEY / TSX: CEE) which renews the existing contract for the provision of Blast Hole and Grade Control drilling services at the Sukari Gold Mine in Egypt.

Capital Drilling has been active with Centamin Egypt since 2005, commencing with exploration and development drilling before expanding into production drilling in 2008. The new production contract runs to 2015 and we expect to deploy further production rigs to site in 2012 , consistent with Centamin's expansion plans.

Contract 2 - African Barrick, Tanzania

Capital Drilling Tanzania has been awarded a contract for an additional two new diamond drill rigs for development drilling at the North Mara Gold Mine in Tanzania. The rigs have already been mobilised to site and recently commenced drilling. Capital Drilling has been active in Tanzania since 2005 and working with African Barrick at North Mara since 2008, with operations in exploration, development and production drilling.

Contract 3 - Thani Dubai Mining, Egypt

Capital Drilling Egypt has been awarded a contract extension in the form of additional metres for exploration drilling at the Shalateen Southern Egypt project. Capital Drilling commenced drilling for Thani Dubai in 2010. The contract amendment calls for an additional rig, which has been sourced from the existing fleet.

These new contracts have increased the Company's rig fleet from 77 rigs at the half-year end to 83 rigs currently.

Commenting on the new contracts, Jamie Boyton, Executive Chairman, said:

"The new contracts with Centamin Egypt and African Barrick Gold, both of whom are long standing customers, demonstrate Capital Drilling's robust model of operating on long life assets which are undergoing significant expansions, underpinning our ability to grow our business organically. We are also pleased to announce an extension to our existing contract with Thani Dubai at their prospective Shalateen project in Southern Egypt."

having spoken to other investors they all say these are cheap but not for long .

enough big order to be filled .

L2 doesn't show much of note to be filled

got a few more

MMs need your shares sell them to them cheap

Reuters) - Egypt is streamlining rules to allow companies to secure licenses more swiftly as part of steps to attract investors to revive the battered economy, a senior investment official said.

loking forward to monday update .

got enough 10k

only two more trading days to get more

the small holders are allmost gone that is good news .

i wonder what % of posts in the last 2/3 weeks belong to Mr T - 90%+?

.

Are you implying 'quantity over quality' Cynic? ;o)

I do think that CEY should be a good investment though, once the elections are done & dusted, but they are not immune to a downturn should the EuroZone debacle get worse.

.

Agreed about the good investment - however economic uncertainty might see gold heading back to 2k/oz? Not necessarily reflected in the share price but good for CEY and decreasing the full cost recovery time?
At least one small holder still here.

don't discount the political factors, the forthcoming election may produce a surprise result.