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.

Questor share tip: Arab uprising takes the shine off Centamin Egypt

Centamin Egypt is the "cheapest UK gold producer", broker Liberum said yesterday. This may be true, but most cheap things are cheap for a reason.

Today's FINANCIAL TIMES



ETF glow fades for US investors - Explosive growth may have peaked as demand wanes

http://www.huffingtonpost.co.uk/2012/01/14/egypts-elbaradei-withdraws-from-presidential-race_n_1206247.html

17 January 2012


For immediate release 17 January 2012

Centamin plc ("Centamin" or "the Company")

(LSE:CEY, TSX:CEE)

Board Appointment

Centamin plc, the Arabian-Nubian Shield focused gold mining group, is pleased to announce the appointment of Mr Kevin Tomlinson as an independent non-executive director.

Mr Tomlinson (age 51) was previously Managing Director of Investment Banking at Westwind Partners/Stifel Nicolaus Weisel, a US, Canadian and UK full-service broker, where he advised a number of gold, base metal and nickel companies, including Centamin. Prior to that he was the Director of Natural Resources at Williams de Broe, a London-based broker, and Head of Research for the Australian broking, corporate finance and research house, Hartley's Ltd.

Mr Tomlinson holds a Master of Science degree in Geology from the University of Melbourne in Victoria, Australia. He began his career as a geologist 30 years ago and has worked with various Australian and Canadian-based natural resources companies, including Austminex N.L, where he held the position of Chief Executive Officer, and Plutonic Resources Limited, where he was Exploration Manager. In addition, he was Non-Executive Chairman of the ASX, AIM and TSX-listed Philippines gold producer, Medusa Mining Limited, from October 2005 to January 2010 and the Non-Executive Chairman of Dragon Mountain Gold, an ASX-listed Chinese gold explorer and developer, from January 2006 to October 2008. Mr Tomlinson is a Fellow of the Chartered Institute for Securities & Investment. He has not held any other directorships in public companies during the previous five years and does not currently hold any shares in Centamin. There are no other details to disclose under paragraph 9.6.13 of the Listing Rules of the London Stock Exchange.

Josef El-Raghy, Chairman of Centamin, commented: "We are very pleased to welcome Kevin to the Board. His background in geology and extensive experience in corporate finance will further strengthen the Centamin Board and support our growth strategy."

Nomura initiates neutral on Centamin Egypt, target price 120p.

Have a buy order in on the spreads @ 95.2, if triggered I'd quite happily take Nomura neutral target price of 120 :O)

http://www.bbc.co.uk/news/world-middle-east-16665748

Look's like it will go to 100p , by the close today.

Egypt more in order now

it's the fact that some of the uncertainty has been removed

It's struggling to reach 100p

Centamin plc ("Centamin" or "the Company") (LSE: CEY, TSX: CEE) is pleased to announce its results for the three months to 31 December 2011.

HIGHLIGHTS
· Q4 gold production of 58,965 ounces from the Sukari Gold Mine, 10% higher than the corresponding quarter in 2010 and 17% higher than the previous quarter
· Cash operating costs of US$473 per ounce, 4% lower than the corresponding quarter in 2010 (US$498/oz) and 26% lower than the previous quarter (US$635/oz)
· Average gold sales price received of US$1,671 per ounce
· Record processing plant throughput of 1,066kt, 38% higher than the corresponding quarter in 2010 and 11% higher than Q3 2011, as the ramp up to higher production rates continued post-Stage 3 (5Mtpa) commissioning
· Stage 4 (10Mtpa plant) expansion remains on schedule for commissioning in Q1 2013 with expenditure to date of US$52.6 million
· Operating profit of US$37.5 million, 103% higher than the corresponding quarter in 2010 (US$18.4 million)
· Cash and liquid assets of US$200 million as at 31 December 2011. Centamin remains debt-free and unhedged
· Total reserves increased by 1 million ounces to 10.1 million ounces, comprising 9.5 million ounces from the open pit and 600,000 ounces from the underground
· 2011 gold production of 202,698 ounces at a cash cost of US$556 per ounce, an increase of 35% on 2010 gold production (150,289 ounces)
· 2012 production is expected to be 250,000 ounces with average cash costs of approximately US$550 per ounce

http://www.moneyam.com/action/news/showArticle?id=4299063

Congratulations to all the management and others on showing once again a master class in running a successful Gold mining company.

ditto that aldwickk

Shame the market can't share your merited praise.

looking for 150p by aug

Replacement - Results for Quarter Ended 31 Dec 11

Stop to entry for risk free trade.

Looks like violence and multiple deaths at a football match yesterday in Cairo may have been politically motivated by Mubarak supporters. Now worries of reprisals from other ethnic groups and an escalation of violence in Egypt.