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.

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!

Was bragging on the BVIC thread yesterday that he was 90% successful on his trades. So logical that this one, MKS and well down on FLYB if true he is actually short obviously constitutes a percentage of the 10% of trades, he gets wrong. Simples :0)

only gloat when you've actually banked profit :-) .... but yes, i do agree that claiming 90% success rate really does stretch credibility .... nevertheless, he is actually pretty good on these things, as are skinny and shortie on indices

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

I heard that before, specially if share price has suddendly has come down

>>>>> 90% successful on his trades.

So believe half and then half of that and so on
It remains me of SANTIGOLD LYRICS

Big mouth, big mouth, quiet now, you said enough
Got a big mouth, big mouth, my my my,


So kick him while is down, you are not alone in doing so

Sometimes the best trade is the one you don't make. I deliberated buying CEY @ 54/56p thinking that all the bad news was priced in but I couldn't convince myself and if in doubt stay/get out is my mantra. Anyone talking about a 90% success rate at trading is deluded - if you can consistently match or beat the market even by a small margin then you are doing very well, but that in itself is difficult.

I meant using margin for gods sake.

By the way spot the double handle LOL.

cnbc - Gold firms plan drastic cuts as bullion sinks.

Gold firms plan drastic cuts as bullion sinks.

Q3 2014 RESULTS

HIGHLIGHTS (1) (2) (3)

Production
· Gold production 93,624 ounces, 15% higher quarter-on-quarter and 10% increase on the prior year.
· Cash cost of production of US$771 per ounce, 1.5% lower than Q2 2014.
· The process plant at Sukari saw record quarterly throughput of 2,388kt and the expanded nameplate capacity of 10 million tonnes per annum (Mtpa) achieved in September.
· 2014 guidance of between 370,000 and 380,000 ounces at US$700 per ounce cash cost of production.

Financials
· Basic earnings per share 1.39 cents, up 40% on Q2 2014 and down 49% on the prior year period.
· EBITDA US$37.8 million, up 16% on Q2 2014 and down 12% on the prior year period.
· Centamin remains debt-free and un-hedged with cash, bullion on hand, gold sales receivables and available-for-sale financial assets of US$140.3 million as at 30 September 2014.

Exploration
· Underground drilling at Sukari continues to support further resource and reserve expansion potential.
· Exploration drilling programmes continue in Ethiopia, Burkina Faso and Côte d'Ivoire.

Legal developments in Egypt
· The Supreme Administrative Court appeal and Diesel Fuel Court Case are both ongoing. Centamin is aware of the potential for the legal process in Egypt to be lengthy and it anticipates a number of hearings and adjournments in both cases before a decision is reached. Operations continue as normal and any enforcement of the Administrative Court decision has been suspended pending the appeal ruling.

Just peeping above the 200ma.

April gap nearly closed, Skinny.

Yes - 66p would do for me.