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.

StockMarketWire.com
Centamin output from its Sukari gold mine in Egypt rose to 105,413 ounces ion the three months to the end of September - 13% up on a year ago and in line with production in the previous three months.

Full year production guidance of between 430,000 and 440,000 ounces is maintained. Quarterly throughput at the process plant was 2,673kt, in line with Q2 2015 and with our previous forecast and again in excess of the 10Mtpa nameplate capacity. Open pit total material movement increased 5% on the previous quarter to 14,344kt with open pit ore production increasing significantly on Q2 2015 by 26% to 2,204kt. The run of mine ore stockpile balance decreased by 297kt to 1,030kt at the end of the period. The underground operation delivered 312kt of ore, an 11% increase on Q2 2015.

MIDAS SHARE TIPS: Follow in the footsteps of the pharaohs with Centamin for golden rewards

Centamin plc Results for the Third Quarter and Nine Months Ended 30 September 2015

Centamin plc ("Centamin" or "the Company") and its subsidiaries (the "Group") (LSE: CEY, TSX: CEE) is pleased to announce its results for the third quarter ended 30 September 2015.

Operational Highlights(1),(2)
· Gold production of 105,413 ounces was in line with the second quarter and a 13% increase on Q3 2014.
· Cash cost of production of US$767 per ounce and all-in sustaining costs (AISC) of US$918 per ounce, versus US$706 per ounce and US$853 per ounce respectively in the previous quarter.
· 2015 production guidance of between 430,000 and 440,000 ounces. With higher anticipated fourth quarter production and our continued focus on cost control, we expect to achieve below the previously guided cash cost of production of US$700 per ounce and AISC of US$950 per ounce.
· Process plant throughput of 2.67Mt was 7% above the 10Mtpa nameplate capacity.
· Open pit mining rates and grades in line with forecast. Underground mine delivered 312kt of ore, an 11% increase on Q2 2015, at an average grade of 6.45g/t in line with the mining plan.
· Exploration drilling in Burkina Faso and Côte d'Ivoire has outlined mineralisation over a number of prospects, and has identified structurally controlled higher-grade zones.
· Updated Sukari Resource and Reserve estimate announced in September 2015. Total combined open pit and underground Mineral Reserve estimate of 8.8 Moz, up 7% from 8.2 Moz at 30 September 2013.

Financial Highlights(1),(2)
· EBITDA of US$31.3 million was down 16% on Q2 2015, with a 5% reduction in gold prices together with increased operating costs and an adverse movement in production inventory and ore stockpiles.
· Centamin remains debt-free and un-hedged with cash, bullion on hand, gold sales receivable and available-for-sale financial assets of US$216.1 million at 30 September 2015.
· Basic earnings per share of 0.55 cents; down 67% on Q2 2015 due to the factors affecting EBITDA and a 36% increase in depreciation and amortisation, following the reserve update at 30 June 2015 and a consequent increase in the amortisation charge for capitalised underground development.

Legal Developments in Egypt
· The Supreme Administrative Court appeal and Diesel Fuel Oil court case are both still 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 before decisions are reached. Operations continue as normal and any enforcement of the Administrative Court decision has been suspended pending the appeal ruling.

Andrew Pardey, CEO of Centamin, commented: "Gold output from Sukari during the third quarter was comparable with both the first and second quarters and in line with our forecast for the period, with production continuing to build on the progressive ramp-up of the expanded operation. Plant productivity remained significantly above the 10Mtpa nameplate capacity and the ongoing process of optimisation is expected to deliver our base case rate of 11Mtpa during the fourth quarter. The underground mine has now delivered consecutive quarters at production rates significantly in excess of our annual forecast and at consistent grades of at least 6g/t, therefore demonstrating the potential for this part of the operation to sustain production in excess of our longer-term forecasts. Further development of the open pit has now set the stage to deliver the required tonnages at grades in the region of the reserve average from the fourth quarter onwards. Full year guidance is between 430,000 and 440,000 ounces at a cash cost of production of below US$700 per ounce and below the previously guided AISC of US$950 per ounce."

StockMarketWire.com
Centamin said preliminary total gold production for Q4 at the SUkari Gold Mine in Egypt was 117,644 oz, down 8% on the year. FY output was 439,072 oz, a 16% hike on 2014 and within guidance of 430,000-440,000 oz for 2015.

Open pit total material movement decreased 4% on the previous quarter to 13,754kt with open pit ore production increasing by 1% to 2,229kt. The run of mine ore stockpile balance decreased by 328kt to 704kt at the end of the period.

During the quarter an unfortunate incident occurred within the open pit operation, when a contractor's employee was involved in a rock collapse whilst relocating a grade control drill rig. The operator, and sole occupant of the drill rig, was fatally injured in the incident.

A full review of the relevant operating procedures has been completed, subsequent to which open pit mining rates have increased towards target levels.

The underground operation delivered 300kt of ore, a 4% decrease on Q3 2015.

Quarterly throughput at the process plant was 2,758kt, a 3% increase on the previous quarter and in line with our target rate of 11 million tonnes per annum (Mtpa).

Investec today reaffirms its buy investment rating on Centamin PLC (LON:CEY) and raised its price target to 76p (from 66p).

Suspect broker targets might be adjusted upwards if gold becomes a safe haven for investors.

Three and a half year high @90.35p.

Looking at the 5 year chart and assuming sentiment doesn't change, 100p looks very likely, imo.

92p and still climbing!

Your quid is getting closer Harry!

Yep. Probably time to take profit for those that had the foresight to buy around the 60p level.......sadly not me!

I bought at 63.40p - but it was 3 years ago!

Are you still holding skinny, or have you cashed in? Sp seems to have got a little bit ahead of itself!

I'm still holding - a bit like an old friend after all this time :-)

A bit late to the party.......:

Numis today reaffirms its hold investment rating on Centamin PLC (LON:CEY) and raised its price target to 100p (from 60p).

Posted by Katie Priceless

CEY Toronto exchange at 21.42 our time. % Change +2.94%

CEY Toronto exchange at 21.42 our time. % Change +2.94%

Another attempt at a quid?

StockMarketWire.com
Centamin's revenues rose to $508.4m in the year to the end of December - up from $472.6m last time.

But EBITDA fell to $152.2m from $165.5m and pre-tax profits of $58.4m were down from $81.6m a year ago.

Production rose to 439,072 ounces, a 16% increase on 2014 and within the revised guidance range. Q4 2015 production of 117,644 ounces was within Sukari's target annualised rate of 450,000 to 500,000 ounces.

Cash operating costs of US$713 per ounce was down from US$729 per ounce in 2014, mainly due to lower fuel prices, although marginally above guidance US$700 per ounce despite higher production than originally forecast.

Chairman Josef El-Raghy said: "During 2015 Centamin has maintained its strategic focus on generating shareholder returns and value-accretive growth, despite the continued gold price weakness and widespread challenges across the industry.

"Our flagship Sukari Gold Mine has continued to deliver substantial free cash flows, driven by a sixth successive year of production growth and industry competitive costs. The strong performance of our core asset, together with the Company's robust financial position, allowed the board of directors to approve an interim 2015 payment of 0.97 US cents per share (versus a 2014 interim payment of 0.87 US cents per share). I am now pleased to announce the approval of a final dividend for 2015 of 1.97 US cents per share. This represents a full year pay-out of approximately US$33.7 million, which sits at the top end of our dividend policy to pay out 15-30% of our net free cash flow."