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 BREAK IS WORKING WONDER FOR THE SHARE PRICE now 51.75p +3.05p

going places this afternoon, gold price moving higher for the last couple days help

price of gold likely to rise as tapering unlikely to start before feb/march 2014 if at all.

The Breakout is working wonders for the stock another1.50p up this morning, after the spike to 53.60p at the start

Gold moving lower after the early spike

Has reached yesterday's spike and move a bit lower, but still up on the day by 0.25p

4 days chart

GOLD
JUST SPIKE TO $1331 +$15

Today's fall, was a bit xpected after the recent rally and Indicators a bit overbought specially ( Slow Stochastic )

Profit taking is on again today, as said above by " mondy " all the Indicators were at TOP and after such a large rise the share price gets into a position of .... sell some or all

Centamin plc Results for the Third Quarter and Nine Months Ended 30 September 2013

HIGHLIGHTS IN Q3 2013 (1).(2) (3) (4) (5)
· Gold production 84,757 ounces, down 9% quarter-on-quarter and up 39% on the prior year period.

· Basic earnings per share 2.72 cents; down 43% on Q2 2013 and down 51% on the prior year period.

· EBITDA US$43.1 million; down 32% on Q2 2013 and down 36% on the prior year period.

· US$11.9 million write down in relation to the investment in Nyota Minerals Ltd.

· Cash cost of production of US$693 per ounce, in line with 2013 full year guidance of US$700 per ounce.

· Stage 4 plant expansion (to 10Mtpa) remains on track for the bulk of commissioning to commence, and be completed, in the fourth quarter of 2013. Expenditure to date is US$318.3 million of the total unchanged forecast of US$325 million, including contingency, with the remaining balance to continue to be funded from cost recoveries.

· Operations are well placed to exceed full year 2013 guidance, provided on 14 March 2013, of 320,000 ounces at a cash cost of production of US$700 per ounce inclusive of fuel prepayments.

· Centamin remains debt-free and un-hedged with cash, bullion on hand, gold sales receivables and available-for-sale financial assets of US$156.4 million as at 30 September 2013.

· An updated resource and reserve statement is planned during the fourth quarter of 2013.

· Exploration results at Sukari and in Ethiopia continue to justify further drilling.

· Entry into a joint venture with Alecto Minerals plc in relation to Alecto's exploration licences in Ethiopia.

· The Supreme Administrative Court appeal and Diesel Fuel Court Case are both ongoing. Operations continue as normal and any enforcement of the Administrative Court decision has been suspended pending the appeal ruling.

more reverse perhaps

Is that the time to get in again?

yesterday had a good knocked as the Gold price felt $10, but by the end of the day it recovered and on top finished $10 at $1253.50p.

at 43.87p has twice reached the bottom of this retracement

.

Second day rising or motoring as the rise has been pretty large both days

Yesterday's results was the reason of the bounce after being well marked down with the market

GOLD has spike and so has the share price of CEY

StockMarketWire.com

Centamin has agreed to make an off-market takeover for Ampella.
Under the offer, Ampella shareholders will receive one new Centamin share for every five Ampella shares held. Based on Centamin's closing share price of 44.31p on yesterday (9 December) and an exchange rate of £1=A$1.81, the offer values Ampella at A$40.9m or A$0.160 per share.

This represents a 113% premium to Ampella's last closing price of A$0.075 and a 77% premium to the 20-day volume weighted average price on the ASX, both as at 6 December, being the last trading day prior to Ampella's trading halt on the ASX on 9 December.

The acquisition of Ampella will add significant gold assets to Centamin's development portfolio, with c.2,200km2 of exploration ground in Burkina Faso, including the Batie West gold project which hosts the 3.25 million ounce Konkera Resource and c.1,200km2 of exploration ground across the border from Batie West in Cote d'Ivoire. Centamin intends to progress a substantial exploration programme at Batie West, aimed at developing the potential for further significant resource growth and realising the project's full value, ultimately through development of a sizeable producing operation.

Updated Resource and Reserve Statement

Highlights
· Total Measured and Indicated resource containing 13.4 million ounces (Moz) (previously 13.1Moz) comprising open pit resource of 12.6Moz and underground resource of 0.8Moz.
· Total combined open pit and underground reserve containing 8.2Moz, down 19% from 10.1Moz at 31 December 2011 due to mining depletion and increased mining and processing costs associated with a change from subsidised to international fuel prices.
· Open pit and surface stockpile reserve containing 7.7Moz.
· Underground reserve of 2.30 million tonnes (Mt), a 120% increase on 1.1Mt at 31 December 2011.
· Underground proven component of the mineral reserve of 0.52Mt grading 11.4g/t gold provides support that further higher grades will continue to be defined as drilling and development continues.
· Resource and reserve definition continues in parallel with expanding underground infrastructure, targeting high grade areas.

StockMarketWire.com
Canaccord hikes Centamin to speculative buy from hold, target 60p from 38p.

Q4 Preliminary Production Results

Centamin is pleased to announce preliminary production results from its Sukari Gold Mine ("Sukari") in Egypt for the quarter ended 31 December 2013.

Total gold production for the quarter was 91,546 ounces, a 7% increase on the corresponding quarter in 2012 and 8% higher than Q3 2013. This brings full year production to 356,943 ounces, a 36% increase on 2012 and above guidance of 320,000 ounces.

Open pit total material movement decreased 8% from Q3 2013 to 9,642kt and open pit ore production decreased 7% on Q3 2013 to 3,161kt. The run of mine ore stockpile balance increased by 219kt to 1,756kt at the end of the period. The underground mine delivered 174kt of ore, up 15% on Q3 2013.

Quarterly throughput at the Sukari process plant was 1,400kt, a 12% increase on the prior year period and a 4% decrease on Q3 2013, exceeding the nameplate annualised rate of 5 million tonnes for the fourth successive quarter with continued high levels of productivity and availability.

Formal guidance for the current year will be provided during the first quarter.

Canaccord note today:
"Centamin produced a total of 92koz in Q4/13 (vs our estimate of 73koz) and 357koz in 2013 (vs our estimate of 338koz), above the production guidance of 320koz.
Commissioning activities for the Stage 4 expansion (from 5mtpa to 10mtpa) started during the quarter, with minimal impact on production.
2014 guidance is expected to be provided later in Q1/14. We currently forecast 362koz, which looks conservative given today's results.
Impact on the Canaccord Genuity view The results are positive and substantially better than we expected as we had based our forecast on the company's guidance of lower production in Q4/13 versus the average in Q1-Q3 due to the Stage 4 commissioning. It may be the case that Stage 4 commissioning started at the end of the quarter and quarterly production has not yet been affected. This may mean production in Q1/14 is somewhat lower than the average quarterly output in 2013. We currently expect 76koz in Q1/14 (vs 89koz quarterly average in 2013), which already looks fairly conservative.
Underground production has continued to deliver higher volumes with the annualised rate of 696kt achieved in Q4/13, well above the 600ktpa guidance.
The processing plant continued to run at above its annual capacity of 5mtpa.
Valuation - We maintain a Speculative Buy recommendation and 60p/share target price. In 2014 we expect a shift to positive FCF and the final court ruling on the license appeal, which we expect to be positive for Centamin.
Our target price is achieved after applying a 0.8x target multiple to our NAV estimate of 76p using Canaccord Genuity's gold forward price deck. Our target multiple is based on a comparative analysis of gold producers under our London coverage with a number of quantitative and qualitative parameters used (please refer to our separate note "New framework for the New Year" published on 20 December).
Share performance catalyst
Financial results (Q1/14) and a final decision on the court appeal against the decision to suspend Sukari's mining license (2-14)."