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.

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

re - court case

< "IF" CEY loses the case, CEY can go to international tribunal and ask for compensation. There was one case in Egypt a few years ago in Sinai where the government took an investor's land and gave it to someone else. The international tribunal asked Egypt to pay £70 millions compensation.

In Egypt they know that CEY could go to international tribunal and this time the compensation will be much much more, imagine £70 millions for a piece of land, how about a gold mine!! Egypt could not even afford to pay £70 millions now.

So that amount of compensation would be added to the 8p!! >

no need to write in bold .... our eyesight is still more than adequate ......

being a cynical old fart, i'm still happy to stand by my comment of "large bribe required", though of course that will not be provable one way or another

cynic as the gold price drops CEY production cost of>$700 per oz is eating into profits.

i have watched this share for 2/3/4 years and even dabbled in it a few times ..... currently i just watch, but thanks for your customary intelligent comment - smarm smarm :-)

Analysts at Bank of America (BAML) highlighted the importance of Sukari,“the potential catalyst that matters above all else”. Arguing that the legal dispute was likely to go Centamin’s way

no need to write in bold .... our eyesight is still more than adequate ......

of course, a more rounded view of the situation would have been the addition of a further quote from that article .......

The final decision on the court case is likely to take several more months.

A good move up today and trying to reach 55p again not seeing since last week

Westhouse Securities Buy 52.85 52.75 65.00 65.00 Upgrades