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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Gold around $1770 / oz and political situation seems to be settling down in Egypt. I know they are kicking off atm over an offensive video clip, but the CEY mine is in the south of the country and unaffected. I prefer to hang on to my stock for the time being as the chart seems to be turning the corner. Short term there may be a correction, but prefer to hold for the longer term.

Cheers chaps - I haven't got a large holding here, I think I'll look again at a quid.

£ easy. then probably a 10% pullback before hoofing up again

A bit of a down day for most stocks, except CEY , which is presumably due to the high gold price? (though RRS and others in the gold industry are also down).

Sp behaving as predicted, IG has become my personal ATM. Ta-da

Hopefully we can maintain this trend beyond 100p now! With gold this high, I am hoping that CEY's sp can benefit.

One of the lunchtime fliers was talking of $2000 by Christmas - as ever :-)

I think the theory was that with single dip recession, we would now be on the road to recovery and gold would become less attractive as a safe haven. With double dip, gold continues to be attractive to investors, so this is the silver lining to the recession cloud.

Surely the'gold lining'!

Almost 100p. Strong upward trend which will hopefully continue as long as war doesn't break out in neighbouring countries. Shame CEY doesn't have interests elsewhere to spread the risk a little.

Harry they have large shareholding in ethiopian gold prospector Nyota Minerals.

Cheers for that h. You're right, they do, though only in the sampling stage atm.

"The licences are in the northern Tigray region of Ethiopia and they are called:
•Una Deriam (100% Centamin ownership)

•Finarwa (100% Centamin ownership)

•Winibo (100% Centamin ownership)

•Shehagne (subject to a letter of intent with Stratex)"

Q3 Preliminary Production Results

Centamin is pleased to announce its preliminary production results from its Sukari Gold Mine ("Sukari") in Egypt for the quarter ended 30 September 2012.

Total gold production for the quarter was 60,922 ounces, a 20% increase on the corresponding quarter in 2011 but a 10% decrease on Q2 2012. Quarterly throughput at the Sukari process plant was 1,004kt, a 5% increase on the corresponding quarter in 2011 but a 21% decrease on Q2 2012. Plant availability and productivity was impacted by a scheduled SAG mill reline in September and the illegal strike ("the strike") in July.

The open pit delivered total material movement of 6,970kt, up 6% on Q2 2012 and continuing to ramp-up in line with the mine plan. The underground mine delivered 93.4kt, down 19% on Q2 2012 due to the impact of the strike and also a temporary reduction in mining contractor equipment availability, which restricted remote bogging (load-haul-dump) capacity and access to the high grade stopes. With higher material movements from the open pit, the run of mine ore stockpile balance increased by 83kt to 580kt by the end of the quarter.

With the continuing ramp-up of open pit material movement and with measures taken to redress the underground productivity issues, we expect production in excess of 70,000 ounces in the final quarter, bringing total expected production for the year in line with guidance of 250,000 ounces.

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Nomura has retained its 'bullish' rating for the European gold sector, saying that there's potential for further outperformance in spite of the strong showing as of late.

Nomura has highlighted Petropavlovsk, Centamin and Polymetal as its sector 'likes' going into the third-quarter results. All three are marked as 'buys'. The broker has increased its target price for Centamin to 145p from 130p, Polymetal to 1,425p from 1,340p, and Petropavlovsk to 760p from 735p.

As for Randgold Resources, the broker has raised its target price to 7,400p to from 6,815p but maintained its 'reduce' rating, saying that the stock is "fully priced (for now)".

Well there is the quid - tempting!

That's me out @103 + 36p.

Good luck to those still in.

What happened to 'make the trend your friend'?