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.

And now in auction +10.5%

Very very risky share to play with bearing in mind the political situation.
leave well alone imho

with 200 dma lurking just a few coppers above this level, i do not see much immediate upside

Of course, if it go through it with momentum, then 105p on the cards!!!(I wish!) ;o)

StockMarketWire.com
Westhouse Securities has downgraded its recommendation on Centamin (LON:CEY) to "neutral" from "buy" following the phenomenal run the shares have seen over the past 6 weeks leaving no upside to the brokers unchanged 65 pence target price. The City broker also continues to have significant concerns over the volatile political environment and ongoing protests which led to the suspension of CEY's operations in mid-December and caused the share price to plummet. Analyst Rob Broke said: "Our recent visit to Centamin's Sukari Gold project in Egypt's Eastern Desert re-affirmed our view that Centamin is managing the operations at Sukari well, although it remains vulnerable to matters outside of its control. We are maintaining our 65p target price; however, following the recent strong share price performance - from an intra-day low of 19p in mid-December 2012, to 64p currently - we are downgrading our recommendation to Neutral. Despite clear operational upside at Sukari, we believe the stock is fairly valued given the current situation in Egypt."

Court case yesterday was adjourned. Typically CEY don't inform investors at all even via the web site page specially set up for the purpose. Two minutes to add a line on the web page and they can't be bothered :-(

Participation in Placing

Centamin plc ("Centamin" or "the Company") (LSE: CEY, TSX: CEE)
announces that it has subscribed for 38,475,000 new ordinary shares for
a consideration of GBP769,500 in the firm placing ("the Firm Placing"),
and a further 42,525,000 new ordinary shares for a consideration of
GBP850,500 in the conditional placing ("the Conditional Placing")
announced by Nyota Minerals Limited ("Nyota") today.

Following the Firm Placing, Centamin will own 128,475,000 Ordinary
Shares in Nyota, equalling 17.00% of Nyota's enlarged share capital.
Following the Conditional Placing becoming unconditional in all
respects, Centamin will own 171,000,000 Ordinary Shares in Nyota,
equalling 19.87% of Nyota's enlarged share capital. Centamin was
previously the holder of 90,000,000 shares in Nyota via its wholly
owned subsidiary Centamin Holdings Limited.

Centamin views this investment as being in keeping with its stated
objective of exploration and development in the highly prospective
Arabian-Nubian Shield.

Has anyone noticed the closing price in canada UP 13.41% at $1.10 (70.3p)

sorry mis read should read up 13.41% at 0.93 cents (60p)

Centamin (CEY): A Return To Normality
26th Feb
http://www.directorstalk.com/centamin-cey-a-return-to-normality/

3
Mar 2013
3 Shares to Rise Sharply if Gold Can Bounce Back – Centamin
By News Teamin News
- See more at: http://www.directorstalk.com/3-shares-to-rise-sharply-if-gold-can-bounce-back-centamin/#sthash.0RT3P9Wn.dpuf

Time for a punt

Yesterday's sharp marked down, is reversing today
From moving under the 50 days MA, the share price is moving over once again today

Civil unrest continues in Egypt and though it may not be directly connected to the southern part of the country, CEY still suffers from the bad publicity. Coupled with that, gold seems to have lost it's allure recently, so not sure that this is a good punt at the moment.

The bounce back from 50p seems very strong

Intraday retracement done on reaching 53p and now bouncing back

re - Intraday retracement

my mental workout of 53p was close enough

MJ (menorca) - enjoying the sunshine in the balearics i assume ..... i know you generally trade very short term and on momentum, so it doesn't much matter that gold is now becoming unsexy .... but that apart, would you not concur that short term upside is pretty limited - e.g. assuming sp gets through the 50 dma level (here and now), i would have thought the next hurdle will be at 57.5 or thereabouts

upgrade from bank of america... old tp.50p new one 80p

Thanks - irlee57 -

Merrills note:

Centamin to Buy

We upgrade Centamin to Buy from Neutral today, new PO GBp85, equating to
70% potential upside.

􀂄 In our view, the potential catalyst that matters above all else is the outcome
of the court case challenging Centamin’s Sukari license. Press reports
indicate the case may ultimately go in Centamin’s favour which should lead
to a material re-rating in our view.

􀂄 The final decision on the court case is likely to take several more months.
Both Centamin and the Ministry of Petroleum (who have publicly stated their
support for the Sukari license) lodged their appeals at the end of last year.
We continue to see the potential for news-flow to be volatile in the meantime,
but overall we see a positive risk/reward balance from here. As we move
towards a resolution of the court case in the coming months, we believe the
potential rewards now outweigh the risks and that the shares now represent
a good buying opportunity.

􀂄 On the operational side, the group reported a strong set of Q4 results, and
FY2012 gold production was ahead of our estimates, the Street, and
guidance. We believe it is encouraging that production is now beating
guidance vs. disappointments in 2010 and 2011.

􀂄 We have always been of the view that Sukari is a world class gold deposit,
with strong growth potential to 400-500kozpa (from 263koz in 2012). The
potential for further expansion of the underground zone is particularly
exciting, in our view. Centamin has a good track record of growing reserves.
Our new GBp85 price objective is based on a “risked” NPV. This assumes:

􀂄 A significant likelihood (based on publicly reported comments from the
Egyptian Minister for Petroleum) that the court case goes in Centamin’s
favour confirming Centamin’s license to operate, and shares re-rate to NPV
value of GBp118 under this scenario.

􀂄 A remaining possibility that the court case goes against Centamin, the Sukari
license is declared void, and shares trade at cash value of GBp8 per share.

that's a hell of a caveat at the end ..... fairness and justice are unlikely to have anything to do with the outcome; more probably just a matter of how big a bribe in one format or another the plaintiffs (othert gov't heavies i assume) will demand