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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punt + oars???

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(Digitallook)- Nomura has upgraded its rating for Egyptian gold miner Centamin from neutral to buy and increased its target price from 100p to 130p, saying that operational momentum may be turning positive after '18 months to forget'.

"With the planned open-pit pushback now optimised for 2013-15 [following last week's update on its mine plan], we are increasingly comfortable with the company’s operational momentum and earnings profile," Nomura said.

Well I bottled it and sold @ 69p for +9%. I'd buy in again on fallback or if Tanker says sell.

Interesting to see these up 4%+ ahead of the run-off elections on 16th/17th.

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Time to load up at 70p, bit less if the dip has another go

chuckles - why, as i'm sure you have your reasons?

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"The court was considering the validity of last year's parliamentary election, because some of the seats were contested on a proportional list system, others on the first-past-the-post system."
It seems that some of what happened last year is open to interpretation, but that the court has decided that the elections were unconstitutional. But that doesn't really change anything as the current elections are still going ahead and therefore the parliament will necessarily have to be reformed..

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Supreme court rules Egypt's lower house be dissolved

Egypt's supreme court has ordered that parliament's lower house be dissolved following a ruling that last year's election was unconstitutional.

It has ruled that a third of seats elected under the "first-past-the-post" system were "illegitimate".

are they getting ready for the inevitable military coup?

I got my info from the same aticle, skinny, but some of it is slightly contradictory.
Nevertheless, it won't make much difference as the parliament will change anyway.

Seems as though MB currently have 52% of the vote, but the interim military government are closing ranks and passing sweeping laws, which seem to give them ultimate control in the event of........well, not sure really. Looks like they are loading the dice in their favour.

all of which indicates that CEY is not a good idea for now

So far none of what is happening in Egypt as made much of an impact on CEY , a worker's sit in and a delay in getting explosives.

http://www.bbc.co.uk/news/world-middle-east-18548659