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.
TANKER
- 01 Apr 2012 21:14
- 1520 of 2354
aid to risky and you know why
mnamreh
- 04 Apr 2012 09:43
- 1522 of 2354
.
hlyeo98
- 04 Apr 2012 09:57
- 1523 of 2354
More unrest ahead... from the Brotherhood.
You can forgive Egyptians for concluding that the Muslim Brotherhood cannot be trusted.
After claiming that it is not trying to control parliament, that it favours consensus over monopoly and that it would not field a candidate in the presidential elections, Egypt’s most powerful political movement has broken all its promises.
Scepticism about its intentions was already rife last week after the Brotherhood packed the elected panel charged with drafting the post-revolution constitution with devotees. The move provoked a walkout from the panel by representatives of liberal parties, the constitutional court, the Coptic Church, and even al-Azhar, the centre of Sunni religious authority.
Then the Brotherhood dropped a bombshell at the weekend with a decision to nominate Khairat al-Shater, its strategist and most formidable leader, as its candidate in the May 23 presidential election.
The movement’s brazen push for power is a dramatic departure from its decades-old approach of cautious, gradual politics and its more recent preference for sharing in the responsibility of ruling Egypt’s 80m people.
No wonder that even those who supported the decision within the movement reached their conclusion reluctantly. “We know it looks like a power grab and that worries a lot of people but we were cornered. It was the only decision available,” says one official close to Mr Shater.
Brotherhood officials say two considerations swayed the vote in the elected shura council of 56 for fielding a candidate and 52 against.
The first was a growing suspicion that the ruling military council was manoeuvring against the Brotherhood and would back a presidential candidate who will serve its interests. The second was that the movement could not agree on backing a candidate already contesting the vote.
The Brotherhood sees Amr Moussa, the former head of the Arab League and, until now, the frontrunner in the race, as too closely associated with the former regime; it is alarmed by the rise of Hazem Abu Ismail, the ultraconservative Salafi preacher whose candidacy has been gaining momentum; and it worries about the ambitions of Abdel Moneim Abul Fotouh, a reformist Brotherhood leader who was expelled from the organisation when he decided to run for the presidency last year.
By seeking to control all the country’s institutions, the Brotherhood has taken a huge gamble. Mr Shater is a strong candidate who will win sympathy for his 12 years in jail under the regime of Hosni Mubarak. But his victory is by no means guaranteed. Some analysts say his candidacy will split the Islamist vote and favour Mr Moussa: others argue that he lacks a public persona that can appeal to voters.
And while defeat would be embarrassing for the Brotherhood, victory also carries tremendous risk, handing an organisation with no governing experience full responsibility at a time of deep economic malaise and exceedingly high popular expectations. Controlling Egypt’s institutions could also have harmful regional ramifications, convincing remaining autocratic regimes in the region, and the weaker liberal democratic forces, of the Islamists’ determination to dominate, rather than share, power.
“The Brotherhood is going into uncharted territory here,” says Shadi Hamid, expert on Islamist movements at the Brookings Doha Centre. But the Islamists’ overriding objective, he adds, is to end to military rule, even at the cost of undermining their credibility. “The Brotherhood doesn’t want to have 30 years of war of attrition with the military, they want the military out of public life,” says Mr Hamid. “If they solidify their position [with the presidency] no one will be able to turn against them again.”
HARRYCAT
- 10 Apr 2012 22:06
- 1524 of 2354
62p!!! Not good and little hope on the immediate horizon. Talk in the sunday papers of oil & copper being the best commodity investments for 2012/13, whilst gold may have had it's day.
skinny
- 12 Apr 2012 07:09
- 1525 of 2354
Q1 Preliminary Production Results
Total gold production for the quarter was 49,071 ounces, a 9% increase on the corresponding quarter in 2011. Despite the strike activity that occurred during the quarter, gold production was only marginally below budget; a credit to the operating team at Sukari.
TANKER
- 19 Apr 2012 15:58
- 1526 of 2354
wil buy around 55p
aldwickk
- 19 Apr 2012 17:13
- 1527 of 2354
You said you would buy @70p
aldwickk
- 26 Apr 2012 19:02
- 1528 of 2354
HARRYCAT
- 02 May 2012 17:38
- 1529 of 2354
Three weeks to Presidential elections, so we might hopefully see a resolution to the ongoing conflict soon. As the mine itself seems to be unaffected by the unrest, a stable political regime should see the true value return to the CEY sp.
hlyeo98
- 03 May 2012 08:11
- 1530 of 2354
Are you joking? More killings taking place yesterday.
HARRYCAT
- 03 May 2012 08:34
- 1531 of 2354
Sad though that is, how is that relevant to what I have posted?
cynic
- 03 May 2012 08:43
- 1532 of 2354
because egypt looks to be in for a very unsettled time .... indeed, even other muslim countries are most concerned about the rise of mb ..... the public face of mb is one of moderation and conciliation (of course it is!), their underlying agenda is fundamentalist though i am uncertain as to how extreme
HARRYCAT
- 03 May 2012 08:48
- 1533 of 2354
I disagree. If the elections go smoothly and produce a clear winner, then Egypt should become a more stable environment, regardless of whether we in the west approve of the new regime. Investors dislike political instability. Once that particular hurdle is overcome to the general satisfaction of the Egyptians, then I expect CEY to be an attractive investment again.
cynic
- 03 May 2012 08:59
- 1534 of 2354
i have been a longtime fan of CEY but am glad i bit the bullet a few weeks back and shall stay out for a good while yet i think
aldwickk
- 03 May 2012 10:24
- 1535 of 2354
Am out also
ahoj
- 03 May 2012 10:38
- 1536 of 2354
Unfortunately, Islamic country or any religion based country result in dictatorship, otherwise war or internal conflicts.
Egypt is not exempt.
hlyeo98
- 03 May 2012 11:11
- 1537 of 2354
There are better places to invest than Egypt for now.
cynic
- 03 May 2012 11:12
- 1538 of 2354
israel is religion-based just as it assuredly was when it was founded in 1948 ..... much as one may find the present govt's attitude to the palestinians pretty reprehensible, it is still a democracy ...... indeed, it is exactly because israel is so democratic that is has a mass of parties, many of which are hard-line something, with a couple of seats each but who between them hold a totally disproportionate amount of power
ahoj
- 03 May 2012 11:25
- 1539 of 2354
In any country, internal forces get united against external forces. When external force disappear, internal conflicts start to emerge.