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.

if gold is just a funk hole because of the swissie, then the rally could be short-lived

Then it might not be, who knows.

If you had listened to me the other day you probably have a few grand under your belt.

Tight stop losses though. Very volatile.

But just look at the charts, even though the gold price as been friting about, theres been a marked trend chart turn up from about early December.

That cannot be ignored. It suggests a bottom is in at the very least.

i'm not a fan of CEY though i did well enough out of them a couple of years back

but then if you'd played with the dow as i have for the last few days, you'ld have made plenty too

Looking good Houston.

Van Eck Associates Corporation > 15%

CEY UPGRADE........

22 Jan 2015 Centamin PLC CEY Investec Hold 70.55 70.35 49.00 68.00 Upgrades

Van Eck Associates > 16%

Looks like a golden cross.

Annual Results

Operational Highlights(1),(2)
· Full year production of 377,261 ounces, a 6% increase on 2013, with Q4 2014 production of 128,115 ounces representing an increase of 37% over Q3 2014
· Full year cash cost of production of US$729 per ounce, with Q4 2014 cash costs of US$655 per ounce
· Stage 4 plant expansion completed with total project expenditure US$331.2 million
· Process plant throughput exceeded nameplate 10Mtpa capacity in Q4 2014
· 2015 guidance of 420,000 ounces gold at US$700 per ounce cash cost of production and US$950 AISC
· Underground drilling at Sukari supports further resource and reserve expansion potential
· Exploration drilling programmes continue in Ethiopia, Burkina Faso and Côte d'Ivoire

Financial Highlights(1),(2)
· EBITDA US$165.4 million, down 29% on the prior year
· Basic earnings per share 7.21 cents, down 57% on prior year
· Centamin remains debt-free and unhedged with cash, bullion on hand, gold sales receivable and available-for-sale financial assets of US$162.8 million at 31 December 2014
· Proposed final dividend of 1.99 US cents per share (approx. US$23 million); total 2014 dividend of 2.86 US c/sh

Legal Developments in Egypt
· The Supreme Administrative Court appeal and Diesel Fuel Court Case are both on-going. 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 decisions are reached. Operations continue as normal and any enforcement of the Administrative Court decision has been suspended pending the appeal ruling.

Investec Buy 63.35 68.00 64.00 Upgrades

Panmure Gordon Buy 63.35 - 82.00 Reiterates

Citibank note today:
" Citi's Take — We were expecting EPS of USc9.2 vs. a consensus expectation of USc8.5. (down on the FY 13 EPS of USc 13.3). Actual results came in at USc7.2. 2015 guidance is 420k oz (Citi 458k) at US$700 per ounce cash (Citi $660/oz) and US$950 AISC. Q4 2014 cash costs were $655/oz so FY 15 $700/oz guidance looks conservative. CEY expects H2 15 production to be in the annualized range of 450- 500k oz p.a.
 A year of Two Halves in FY 15 — In explaining FY 15 guidance, CEY has said that the northern and eastern walls of the open pit are a focus and, as mining progresses through the upper portions of the next stage of pit development, grades are scheduled to progressively increase to the reserve average in the second half of the year, when production is expected to increase to the 450-500k oz p.a.
 Balance Sheet and Dividend — Centamin remains debt-free and unhedged with cash, bullion on hand, gold sales receivable and available-for-sale financial assets of US$162.8 million at 31 December 2014. CEY has proposed final dividend of USc1.99 making a FY 14 total of USc2. 8c.
 Implications — FY 15 guidance is less impressive than the numbers we have in our model and seem conservative against the Q4 2014 numbers. In Q4, the plant was operating above capacity and, as CEY had to revise FY14 production guidance down during FY 14, it may be that CEY is not willing to assume the same levels of over-capacity in FY15."

Mar 24 Questor/Telegraph: Hold

Davy Research Outperform 60.53 61.30 - 85.00 Reiterates

Q1 2015 Preliminary Production Results

Centamin is pleased to announce preliminary production results for the quarter ended 31 March 2015 from its Sukari Gold Mine ("Sukari") in Egypt.

Total gold production for the quarter was 108,233 ounces, a 46% increase on Q1 2014 and 16% lower than Q4 2014. Full year 2015 guidance remains at 420,000 ounces.

Quarterly throughput at the process plant was 2,478kt, a 5% decrease on Q4 2014, as the new SAG mill reline was brought forward this quarter and fitted with improved design lifters and grates.

Open pit total material movement increased 16% on the previous quarter, to 15,996kt. Open pit ore production decreased on Q4 2014 by 38% to 2,562kt and lower average grades mined in the first quarter as expected. The run of mine ore stockpile balance increased by 33kt to 2,204kt at the end of the period.

The underground operation delivered 264kt of ore, a 7% decrease on Q4 2014 with average grades remaining consistent and in line with the underground mining plan.

more....

CEY makes it to Telegraph's income portfolio: 11 shares that can afford the dividends they pay.

Results for the Quarter ended 31 March 2015

Operational Highlights(1),(2)
· Gold production of 108,233 ounces, 16% lower quarter on quarter and 46% higher than Q1 2014
· Cash cost of production of US$717 per ounce and all in sustaining costs (AISC) of US$858 per ounce
· 2015 guidance of 420,000 ounces at US$700 per ounce cash cost of production and US$950/oz AISC
· Process plant throughput at 10Mtpa nameplate. Minor design modifications implemented with scope over the coming quarters for further throughput increases as optimisation continues
· Open pit mining total material movement a quarterly record and towards the end of the quarter had reached the full annualised rate of 66 million tonnes as scheduled for the expanded operation
· Underground drilling at Sukari supports further resource and reserve expansion potential
· Encouraging results from exploration programmes in Ethiopia, Burkina Faso and Côte d'Ivoire

Financial Highlights(1),(2)
· EBITDA US$53.0 million, down 13% on Q4 2014 and up 55% on Q1 2014
· Basic earnings per share 2.50 cents, down 16% on Q4 2014 and up 34% on Q1 2014
· Centamin remains debt-free and un-hedged with cash, bullion on hand, gold sales receivable and available-for-sale financial assets of US$195.8 million at 31 March 2015

Legal Developments in Egypt
· The Supreme Administrative Court appeal and Diesel Fuel Court Case are both on-going. 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 decisions are reached. Operations continue as normal and any enforcement of the Administrative Court decision has been suspended pending the appeal ruling

more....

On the cusp of a golden cross.

Results of the Annual General Meeting of Shareholders

Investec Buy 68.90 70.00 70.00 Reiterates

Numis Hold 68.90 60.00 60.00 Reiterates

Bank of America Merrill Lynch Buy 68.90 84.00 84.00 Reiterates

RBC Capital Markets Outperform 68.90 80.00 80.00 Reiterates

Q2 2015 Preliminary Production Results

Centamin is pleased to announce preliminary production results for the quarter ended 30 June 2015 from its Sukari Gold Mine ("Sukari") in Egypt.

Preliminary total gold production for the quarter was 107,781 ounces, a 33% increase on Q2 2014 and in line with production in the first quarter 2015. Full year production is expected to be between 430,000 and 440,000 ounces.

Quarterly throughput at the process plant was 2,667kt, an 8% increase on Q1 2015, as finer material was fed to the milling circuit due to improved blasting and greater availability of the secondary crushers.

Open pit total material movement decreased 15% on the previous quarter to 13,671kt. Open pit ore production decreased on Q1 2015 by 32% to 1,751kt, which is in line with the overall mine plan. The run of mine ore stockpile balance decreased by 878kt to 1326kt at the end of the period.

The underground operation delivered 282kt of ore, a 7% increase on Q1 2015, with average grades remaining in line with the mining plan.