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.

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%+?

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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.

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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.

merely making an observation

hali - what would you regard as a surprise result? ..... for myself, i have a nasty feeling that the muslim brotherhood will be much the strongest party

cynic agree unfortunately, the US need to stop sending them military aid.

There may be an indication here - Secular Egyptians Fret at Poll Results

CAIROThe success of a moderate Islamist party in Tunisia's elections has injected added confidence into Egypt's own powerful Islamist movement and worried secularists looking ahead to their own parliamentary elections late next month.

stopping sending aid to israel until they learn to behave would also be a useful move ..... but getting back to the MB ..... in the short term, they will want to show themselves as moderates, so no harm will be done ..... it's 3/5 years down the road that will need watching

cynic what is the tribal set up in Egypt? At the end of the day in the middle east this is usually how power is achieved one way or the other.

got some more very happy .i now have my holding that i wanted .
will now just watch the rise

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hali - i don't think egypt is tribal at all; it has had an effectively stable (non-nomadic) population for many centuries with massive cultural history and a fair amount of general tolernace

cynic . i have been many times and find them very nice people and always want to help . perhaps it is the tips .but egypt is a population that like the tourist and are now doing everthing they can to restore this