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.

The main concern re the continuing upward movement in the gold price has to be this .Gold hit $1,000 back in March of this year ,but could not hold it ,despite the fact that the economic outlook was at its gloomiest.
That said, the gold highs of 1980 would be equivalent to about $2300 today,so there certainly is precedent for much higher prices. The current price is $989.
Any comments?

With gold in favour,we are now testing 100p. A buy of 115,00 at 100p has been recorded.
cyril

Breaking the all importent 1 barrier (101.25p),lets hope it can hold onto these gains during the day?
cyril

Very good. Also note that gold has broken the $1,000 barrier at $1,004.

Yes excellent news,watched Bloomberg the other day,i believe it was a Frank(fred)
Mcgee who stated that if gold broke the $1000/ounce and held above $995 it would be a signal which would bring in large technicall buyers and drive up the price? We shall see?
cyril

Gold now at $1019,

The all time high for gold was Mar 2008 ($1033.90),now in touching distance.Watch out if that goes soon

FREE INVESTOR EVENT - 62nd Minesite Forum - 13th October 2009

Armourers' Hall, 81 Coleman Street, EC2R 5BJ
(nearest tube station is Moorgate)

Registration - 9am
Presentations beginning at 9.30am

As with our previous events, attendance is free for investors, with a buffet luncheon to follow the presentations.

Presenting companies include:

*
Centamin Egypt Ltd
*
Frontier Mining Ltd
*
European Goldfields Ltd
*
Energy & Minerals Australia Ltd
*
Exeter Resources Corp.
*
Donner Metals Ltd

To register please go to: http://www.giraffemail.biz/lt/t_go.php?i=1617&e=MzkwMjczMA==&l=-http--www.minesite.com/msforums.html

This could be the start of the breakout.
Now at $1024,with a breakthrough at $1030 in sight.The weakness of the dollar seems to be the impetus.Also ,the stock now above 100 should help. Touch wood!

POG chart is much better - see thread

it's partly for that reason that i think POG is currently a very good buy

How can I superinpose [ if thats the right word ] the price of gold onto these charts ?

I don't know about that,but the 2 charts over the same period show the performance of POG and CEY in reverse order

Minesite presentation today,from post 205.

From The Times October 13, 2009

In the know: Centamin Egypt; Keller; Whitbread Recommend? (1) Gilts

Yesterdays times.

Rumour of the day

Centamin Egypt rose 1p to 114p after Bank of America Merrill Lynch started covering the gold producer with a buy recommendation. The broker said that the group had one of the largest gold deposits not owned by a large producer and that, as such, it could become an attractive takeover target if its production schedule progresses smoothly.

cyril

Will be interesting to see what impact moving to the main list will have too.


Centamin set to move to Main Market
Business Financial Newswire
Centamin Egypt says its shares will cease trading on AIM and simultaneously move to the London Stock Exchange's Main Market on or around 5 November.

This is progressing like steps in "the giants causeway" (Northern Ireland),...shot up this morning...

Any special reason?

Maybe the Main listing coming up? Plus gold moving up again, who knows but all good.