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.

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not going to get my 70p

Shouldn't be to greedy

thanks AID have been buying sbry at under 290p

Nyota Minerals Limited ("Nyota" or the "Company")

Holding(s) in Company

On 8 March 2012 the Company received a notice of initial substantial holder in the ordinary shares of the Company (Form 603) from Centamin plc stating that, as at 7 March 2012, there had been an acquisition of 67,000,000 ordinary shares for £0.06 each.

Following the acquisition, Centamin plc now holds 90,000,000 Nyota ordinary shares representing approximately 14.08 per cent of the Company's issued share capital.

Gold producers are 10 a penny. But to find one that is profitable, with no debt and enough cash to exploit its current project, is like striking gold. And that is exactly what Goldplat (GDP) does.

"We are not going to seek additional equity capital to advance existing operations," chief executive Demetri Manolis confirmed to Interactive Investor. In fact, the gold producer ended 2011 with a net cash position of £4.6 million and boasted of a 74% increase in its pre-tax profits for the six months ended 31 December.

So then what are the prospects of shareholder returns?

"We would consider paying a dividend, but not at the expense of growth," commented Manolis.

According to Edison Investment Research, if the company continues to replenish its stockpiles in line with historic performance, such that it is able to maintain full production at its South African and Ghanaian recovery plants effectively indefinitely, then it is capable of making a 4p per share payout to shareholders from 2017.

And progress seems to be continuing at the South African and Ghanaian recovery plants, where the company produces gold from other miners' waste. At the end of 2011, gold production from these mines came in at "a record high" at 15,404 ounces of gold.

Manolis is confident of "substantial growth" in the Ghanaian recovery plant. Not only has the company increased the by-products received through existing contracts with the likes of AngloGold Ashanti (AGD) and Golden Star Resources, but has also signed two toll treatment agreements with Golden Star (Wassa) and Adamus Resources.

Manolis also confirmed that the company was in "advanced discussions" with mining companies in Mali and Burkina Faso to acquire processing by-products for gold recovery at the Ghanaian plant. Additionally, the company is enjoying a tax holiday until the end of 2015, and 10% thereafter.

On the other hand, Manolis said that the South African gold recovery operation was "mature".

"We are looking for ways to grow this," said Manolis, highlighting that the agreement signed with Central Rand Gold (CRND) to recommence gold mining at the Crown East and CMR Bird Reef mines was one of three projects that the company was looking at.

The mines, located in South Africa, are expected to hold "significant gold-bearing ore" available to mine at commercial rates. Under the terms of the agreement, Goldplat will have the rights to assume mining of the two sites in return for a 5% net smelter royalty. The ore from the sites will be processed at the company's gold recovery operations in South Africa.

According to Edison Investment Research, this agreement has the potential to add another 10,000 ounces per annum, raising Goldplat's annual gold production target to 60,000 ounces.

In addition to the gold recovery business, the company has three gold projects.

The first one is the Kilimapesa gold mine in Kenya, Kenya's first gold project to have received a mining licence since independence.

The company has already poured its second gold from the mine in January. The company has an initial target to produce at a rate of 5,000 ounces of gold per annum, increasing to 10,000 ounces within 12 months.

A maiden joint-ore reserves committee (JORC) estimates that the mine holds 1.65 million tonnes (Mt) at 2.44 grams per tonne (g/t) gold for 129,000 ounces. Additionally, a resource upgrade programme is underway, targeting 500,000 ounces of gold by the first half of 2012.

"Kilimapesa will be self-sufficient this year," said a confident Manolis.

The second project is the Nyieme gold project in Burkina Faso. In October 2011, an initial JORC-compliant resource of 1,395,000 tonnes at 2.06 g/t gold for 92,589 ounces was established.

"We are focused on proving up the project's economic viability with the aim of bringing it into production," commented Manolis.

The last project is the company's youngest mining operation - the Anumso gold project in Ghana. While the project is estimated to hold non-JORC-compliant resources of about 200,000 ounces of gold, Manolis said that the current exploration programme on the project should "comfortably demonstrate resources higher than that".

Despite shares in the company gaining almost 40% over the past year, broker Fairfax sees "further upside". On its calculations, shares in the company are trading on an "undemanding" 2012 price to earnings ratio of between five and six times.

Looking for the lowdown on gold and other safe-haven investments? See what Interactive Investor's focus on precious metals has to offer.






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wish people would edit their post's.,.

It does need tightening up a bit....lots of white noise!

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Mnamreh

Did you teach TANKER how to copy & paste ? if so you have a lot to answer for.

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Sukari Gold Mine Resumption of Operations
Centamin announces that normal operations have resumed at its Sukari Gold Mine.

The illegal unrest and work stoppage commenced as a result of a breakdown in on-going discussions involving general salary increases and other benefits with some members of the Sukari work force. With the co-operation of the Egyptian Mineral Resources Authority, Ministry of Petroleum and Industry Committee of Parliament, all outstanding issues have been effectively resolved and work has recommenced.

Whilst Q1 production and cash costs will be affected by this stoppage,Centamin's full year production and cash cost guidance remains unchanged.

Canaccord note today:
"This morning, Centamin Egypt resumed operations at Sukari having resolved outstanding issues with regard to the increase in general salary and other benefits with the help of the Egyptian Mineral Authority.
On Friday, Bloomberg released an article saying that “Parliament’s Energy and Industry committee recommended reviewing Centamin’s contract in its 50-50 joint venture with the government”. Exclusive Analysis, an independent company that focuses on forecasting political risks, also reported on Friday that ”Egypt’s Parliament is likely to review contracts with mining companies, raising their costs”. We believe these comments relate to the possible removal of Centamin’s fuel subsidy (if removed, we calculate the company’s operating cash costs would rise by c.20% to c.US$700/oz) rather than a review of the concession agreement (taxes or government’s share).

Key points
• Around 650 workers went on strike over the weekend demanding higher pay.
• According to the company, its local labour force already gets twice as much as an average Egyptian worker.
• We had expected production in 2012 to be second-half weighted (ratio 44% to 56 out of 250Koz guidance). We understand the strike is likely to result in lower production in Q1/12, but the company will be able to catch up later in the year. The company has reiterated its production guidance of 250Koz (in line with our estimate).

We expect political risks to remain elevated over the year with a potential to abate in the second half post the presidential elections. Given the company is due to start paying its 45% share of profits to the government next year (increasing to 50% in 2015), we expect any negative noise in the local media in relation to the company to fade away.

still looking for my 70p wil it be this week

Why not make it 75p ?

I prefer 70p

when is final results any one

Last year AGM was 26th May, so I assume results are signed off around that date.

thanks harry i am now looking to buy