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.

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

2013 Production Guidance Update

2013 Production Guidance Update

Centamin is pleased to advise forecast production for the year 2013 from the Sukari Gold Mine of 320,000 ounces gold at a cash operating cost of US$700 per ounce with fuel at international prices This represents a 22% increase on the production delivered in 2012 and will mark the third successive year of output growth at Sukari on the path towards our long-term target of 450-500,000 ounces per annum from 2015 onwards.

The Stage 4 expansion project has experienced some delays for key items, materials and services. We now anticipate the bulk of commissioning activities of the expanded plant will commence during the second half of 2013, although there is no change to our expectation that the plant will be fully operational before the end of the year. Partly as a result of these delays, as well as general cost inflation, our estimate for the total capital cost of Stage 4 is now US$325 million, including contingency, as compared with the previous US$287.6 million, excluding contingency.

We look forward to providing our results for the year ended 31 December 2012 on 27 March.

Share price is very strong this morning breaking out from previous intraday highs

L2 is supper strong, on the buy order side is twice the size of sell

A tick up this morning.

Intraday chart

Retracement done, up again and testing 58p once more

Has been holding well despite the market mark down, for the last 30 minutes there is a slow movement up, could be looking for the best of the day again

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Nice pick up +15% - no news as yet.

is on the way up on expectations positive outcome of the court case today

A big spike to 71p a bit earlier

Court Ruling Suspended

Court Ruling Suspended

Centamin is pleased to note that the High Administrative Court of Egypt has today made a ruling suspending enforcement of the judgment issued by the Administrative Court on 30 October 2012 until a final decision on the merits of the appeal is given. This judgment supersedes the notice of "objection to enforcement" which has been in place since 31 October 2012 and effectively allows normal operations at Sukari to continue throughout the appeal process.

Today's hearing and decision was not on the merits of the appeal and as yet no date has been set for the initial hearing in this respect.

easy up easy down and back to square 1
sold and wait for another opportunity in the future