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.

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

Very interesting read!

I'm still holding from 67 - hmmmm.

Muslim Brotherhood's Mursi declared Egypt president

The Muslim Brotherhood's Mohammed Mursi has been declared the winner of Egypt's presidential election run-off.

He won 51.73% of the vote, beating former PM Ahmed Shafiq, the Higher Presidential Election Commission said.

The head of the panel of judges, Farouq Sultan, said it had upheld some of the 466 complaints by the candidates, but that the election result still stood.

The announcement prompted scenes of jubilation in Cairo's Tahrir Square, where Mr Mursi's supporters gathered.

not a good share to be in .

The revolution results are revealed... democracy is not what the majority wanted but a Muslim Brotherhood in Egypt.

Up 9% so far. As I have said before, the market seems to like stability, even though the result may not be what was wanted by the west.

is it a golden dawn or a noose

short term, it looks as though the army will have castrated MB

it looks like they could get back above 110p good luck to you holders

Not a lot of democracy in China but they seem to be doing ok

The result was greeted peaceably and the Army is backing western company's. Why does a Muslim government have to be anti Business , the chances of nationalization is very remote.

An important point to note,too, is the massive underporformance of gold producers relative to the price of the yellow stuff. We have likely seen all of the down side.

25 June: Nomura reiterates: Buy - TP: 130p.

Actually not to be picky, but that's an upgrade.:-)

Investec Reiterates its Buy Tp 95.00p.


On edit :- one list has Nomura as an upgrade another as a reiteration!

Are you going to hold on to your stock, skinny? Am tempted to now average down, on the way up. Hopefully the worst of the civil unrest is history.

Yes - I'm holding now - not a fortune but enough!

Just added today