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.

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

nice to see the sp going up for holders good luck you deserve it .
i am not in

106p target price on Selftrade.

Had to sell mine @ 69.95 needed some cash , seem like i chose the wrong one to sell.

Short term profit takers knocking this back sub 70p? Over 1m shares traded in opening 20 mins!

down to 65 ...... that's a nasty start to the week for holders ...... as a pure guess, it may be a reflection on libya voting in islamists = mb supporters

Now 63!!! I thought 67p was going to be a good buying level. Glad I was indecisive.

Some bad news coming out of Egypt

....but if you put in a limit buy it will have trigged @67p?

CEY is trying to deny breaches in contract.

StockMarketWire.com
Centamin has dismissed reports in Egypt about breaches of the Sukari concession agreement.

Centamin said an un-named government source had been quoted in an Egyptian paper as stating there were breaches of the concession agreement.

But Centamin says there have been no such breaches, no notice of breaches have been served and operations at Sukari continue as normal.

..Centamin under pressure on Egypt fears

By Jamie Dunkley | Telegraph – 4 minutes 38 seconds ago

Gold miner Centamin lost its shine with investors on Monday after reports surfaced in Egypt suggesting the company could have its licence to mine revoked.

Shares in the company, which makes all its profits in the North African country, tumbled 6.95 to 66½p despite a firm denial from the mining company.

“Centamin notes that an un-named government source was quoted in a local Egyptian paper as stating there were breaches of the concession agreement. Centamin confirms that there have been no such breaches, no notice of breaches have been served and operations at Sukari continue as normal.”

Andy Davidson, analyst at Numis, said the group had also been hit by fears over the political situation in Egypt.

Q2 Preliminary Production Results

Description of shares (including class)
Fully paid ordinary shares in Centamin PLC

Name of person discharging managerial responsibilities
Josef El-Raghy - Chairman and CEO

Name of registered shareholder
El-Raghy Kriewaldt Pty Ltd

State the nature of the transaction
Purchase of 500,000 fully paid ordinary shares of Centamin PLC

Price per share
69.62p

Date and place of transaction
11 July 2012 - London

I'm still in for my sins.

Sit in by workers (again) at the mine reported on another board. If true then IR clearly not one of cey's strong points.

Sukari Operations Temporarily Halted

Centamin announces that it has temporarily halted operations at its Sukari Gold Mine in Egypt due to illegal labour unrest from a small percentage of the Sukari workforce.

The illegal work stoppage commenced as a result of a dispute with on-going discussions relating to general salary increases. The Company is continuing its discussions and has the full support of the Egyptian Mineral Resources Authority and the Ministry of Labour.

The Company does not consider this interruption to production to be material at this stage and will provide further updates in due course.

WHat would be the worst scenario, if we assume complete closure of the mine?