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Centamin Egypt : Worth waiting for... (CEY)     

pthwaite - 20 Sep 2004 10:27

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.

Chart.aspx?Provider=EODIntra&Code=CEY&Si

2517GEORGE - 21 Nov 2011 10:03 - 1142 of 2354

T---------Then surely exposure to gold is advisable.
2517

TANKER - 21 Nov 2011 10:10 - 1143 of 2354

2517 , NO .if these leaders do not act very soon you will see the likes of egypt on our streetsthe public are now losing hope .capitalism is failing the anti capitalists are coming out on to the streets and thousands more will join them .
i am as right wing as you can get and dread this happening .

TANKER - 21 Nov 2011 10:15 - 1144 of 2354

skin a wise man knows when to sell and then buy back only fools sit and watch
when it is out of control .i could now get over 13k more for my money.

aldwickk - 21 Nov 2011 10:16 - 1145 of 2354

George , don't complicate matter's ......... stick to logic

TANKER - 21 Nov 2011 10:18 - 1146 of 2354

logic dont hold something that is on fire .

Chris Carson - 21 Nov 2011 10:26 - 1147 of 2354

TANK - You come accross as a very generous chap, I applaud your generosity re each evening visiting local supermarkets buying and distributing food to the needy, buying a new car every year and giving your old one away etc. Admirable. Is there a local Lions Club that perhaps you could join, would make more sense than making your broker extremely rich. Also your style of trading is more suited to spreadbetting, which would enable you to give the broker fees and capital gains that you would save to local charities. Just a thought mate.

TANKER - 21 Nov 2011 10:32 - 1148 of 2354

cc yes there is in ironbridge but i will not give to them again for reasons that i am not going to post and yes i am very generous and only give to my own people .
could you ever see a muslim country give to a non muslim country when they not even help there own people

TANKER - 21 Nov 2011 10:33 - 1149 of 2354

now 91p looking to buy back 88p

kernow - 21 Nov 2011 10:40 - 1150 of 2354

Just looked out the window - Walter Mitty flew by astride a gloucester old spot - unbelievable.

Chris Carson - 21 Nov 2011 10:40 - 1151 of 2354

Okay TANK, I give up mate you come accross as either being full of shit (not to put to fine a point on it) or an extremely generous chap but in some way confused. Would like to think it was the latter. Cheers.

2517GEORGE - 21 Nov 2011 10:47 - 1152 of 2354

aldwickk-------lol :-)
2517

TANKER - 21 Nov 2011 10:50 - 1153 of 2354

cc if you come ironbridge i will meet you. for those still holding it is only the
markets that pushing these down just a blip long term this is a winner looking to buy back soon and buy back the same amount and take the profit.

Chris Carson - 21 Nov 2011 10:55 - 1154 of 2354

Bit far on the bus from Aberdeen TANK, I try and get down to Lincoln at least twice a year to visit my son and granddaughter. Next time I come down will arrange to meet for a pint and a game of bowls :O)

TANKER - 21 Nov 2011 10:59 - 1155 of 2354

cc yes i did play crown green .my friend lives in lincoln he is a trader and good

skinny - 21 Nov 2011 11:03 - 1156 of 2354

Evolution Securities have reiterated their Add stance notice keeping the target price @142.00

TANKER - 21 Nov 2011 11:05 - 1157 of 2354

under 90p that is now 8p less than i sold almost time to buy

HARRYCAT - 21 Nov 2011 11:06 - 1158 of 2354

.

HARRYCAT - 21 Nov 2011 12:17 - 1159 of 2354

Canaccord note:
"Eleven people were killed and more than 200 injured in the worst clashes between police and protesters in Egypt (Cairo and elsewhere in the country) in months. Protesters are demanding that Hussein Tantawi, Field Marshal, Egypts military ruler and Mubarak's long-time defence minister must step down. Clashes continue for the second day today.
The military, which took over from Mubarak, has repeatedly pledged to hand over power to an elected government but it has yet to set a specific date. According to one timetable floated by the military, the handover will take place after presidential elections are held late next year or early in 2013. The protesters say this is too late and accuse the military of dragging its feet. They want a handover to take place immediately after the end of parliamentary elections in March. This will be taken negatively by the market in what has been quite a challenging year for Centamin. Q1 and Q2 were challenging with Q3 back on track and Q4 looks to be challenging again. Last week the tragic news that Harry Michael (CEO) passed away was announced. He was a very valuable member of Centamin's team with a huge experience and knowledge in operational side of things. The stock is likely to continue trading at a significant discount to the peer group (0.46x NAV vs 0.74x NAV junior producers average) due to higher operational risk resulting from an uncertain political environment. We currently have a BUY recommendation and 150p target price."

cynic - 21 Nov 2011 13:48 - 1160 of 2354

heaven forfend that i should cast aspersions at Mr T, but i would have thought him exceedingly nimble-fingered and prescient and indeed fortunate to have sold this morning at 98.0

TANKER - 21 Nov 2011 13:57 - 1161 of 2354

cynic read my posts again i sold some last week and this morning early .
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