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.

Preliminary Production Results

Q3 Preliminary Production Results

Centamin is pleased to announce preliminary production results from its Sukari Gold Mine ("Sukari") in Egypt for the quarter ended 30 September 2014. Total gold production for the quarter was 93,624 ounces, a 15% increase on Q2 2014 and 10% higher than the corresponding quarter in 2013. The expanded plant achieved nameplate capacity of 10Mtpa during the quarter, with the potential for throughput rates to increase further during subsequent quarters as the new plant is fully optimised. Underground and open pit average grades increased over the third quarter and are expected to improve further during the fourth quarter, driving increased gold production levels. Centamin therefore maintains its full year forecast of 420,000 ounces gold.

Open pit total material movement increased 16% on the previous quarter, to 11,406kt with the current daily ammonium nitrate ("AN") issue of 25 tonnes per day. Open pit ore production increased by 50% on Q2 2014 to 2,693kt. The run of mine ore stockpile balance increased by 14kt to 1,152kt at the end of the period. Discussions continue with government departments in relation to increasing the daily usage of AN in order to increase open pit mining rates to the required level to feed the expanded plant. Centamin believes approval is in its final stages.

Record quarterly throughput at the process plant was 2,388kt, a 22% increase on Q2 2014, reflecting the ramp-up of ore treatment through the new Stage 4 plant circuit. Commissioning activities proceeded well and the expanded 10 million tonne per annum nameplate capacity was consistently achieved during the period.

The underground operation delivered a record 248kt of ore, up 8% on Q2 2014 and in line with planned mining rates. Grades from development ore improved over the previous quarter, and production increased from higher grade stoping blocks.

Panmure Gordon Buy 60.38 90.00 90.00 Reiterates

Why don't people put a chart on the header of their thread's ?

Depends who 'they' are - some of us do! :-)

Went long yesterday. Loks best of the Med gold miners. Chart looks solid aswel with a short term base.

CEY CENTAMIN sprung into action today on excelent RNS upgrade. One broker as a med term target of 90p.

Have just received a reply from Selftrade:
"Please accept our apologies for the delay in response. The dividend was due to be paid on the 3/10/14, unfortunately, this was slightly delayed as Centamin paid the pooled amount by cheque in USD to our custodians which delayed the payment to clients. I can see that the cash payment is now available in your account."
Seems a bit strange, as some investors received their divi a while ago, but........ at least it has arrived!

Back down to support today after a cracking start yesterday.

Moody's changes outlook on Egypt to stable from negative

i reckon POG is a better bet notwithstanding that it has already recovered a little in the last week or so

no no no cyners poor management.

that's true, but egypt is hardly valhalla and is almost as difficult to deal in as russia

Sukari Production Update

Centamin advises that forecast production for the year 2014 from the Sukari Gold Mine is expected to be between 370,000 and 380,000 gold ounces at a cash operating cost of US$700 per ounce, representing an increase of between 4% and 7% on 2013 production of 356,943 ounces.

The reduction from the previous forecast of 420,000 ounces at US$700 per ounce is primarily due to reduced monthly plant productivity during October and lower expected average grades for the fourth quarter from underground development ore. Open pit mining continues to see an improvement in average ore grade for the fourth quarter compared with the third quarter and with the granted increase in Ammonium Nitrate (AN) usage having taken place during the quarter material movements from the open pit have also increased. Further increases in average plant throughput rates are expected during the remainder of this year and into 2015 as the expanded 10mtpa process plant continues to be optimised.

Q4 is expected to deliver a record quarterly gold production at the Sukari project, which will on an annualised basis see the achievement of our forecast post expansion production rate of 450,000 to 500,000 per annum.

Nov 5: Pammure Gordon: Buy - TP held: 90p

Goldfinger still long on these ? he bought just before they fell off the side of a cliff

Sorry to dissapoint you aldwick was stopped out of them 3 days after buying.

Hard luck old man.

Hope you had a guaranteed stop , still got your FLYB short ?

Thought Billy Bullshit has no use for Stops? LOL!!!

He must have closed his FLYB short aldwickk, today is the first day for about three weeks that he hasn't been all over that thread like a rash. That is if he was ever really short in the first place!