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.

Numis Add 104.25 100.00 110.00 Retains

Two and a half year high this morning @105.70p.

A near 5 year high @110.30p :-)

Is it too much to hope that I might even break even on this one!

107/110 was an important hurdle which has now been comfortable crossed
mid 2011 saw 140 but the all time high was 195 in late 2010

StockMarketWire.com
Centamin's gold production rose to 125,268 ounces in the first quarter - 6% up on the previous three months and 16% higher than a year ago.

EBITDA rose to US$67.5 million - 42% up on Q4 2015 and 27% higher than a year ago.

Basic earnings per share 3.56 US cents, up 3.75 US cents on Q4 2015 and up 1.06 US cents on Q1 2015.

Centamin remains debt-free and un-hedged with cash, bullion on hand, gold sales receivable and available-for-sale financial assets of US$275.7 million at 31 March 2016, up 19.5% on Q4 2015.

Output guidance for the year is unchanged at 470,000 ounces at US$680 per ounce cash cost of production and US$900 per ounce AISC.

Chief executive Andrew Pardey said: "The first quarter marked a solid start to the year, with a 42% quarterly increase in EBITDA to US$67.5 million driven by production at Sukari of 125,268 ounces of gold and a continued downward trend in costs.

"Cash cost of production of US$603 per ounce and AISC of US$758 per ounce were a material reduction on the previous quarter and below our full year guidance.

" Operationally, processing was a highlight and a key driver of the increase in gold output, with plant throughput rising above our base forecast rate of 11Mt per annum as the optimisation programme continued. With quarterly production rates expected to remain within the 450,000 to 500,000 ounces per annum range, our full year guidance remains unchanged at 470,000 ounces at US$680 per ounce cash cost of production and US$900 per ounce AISC.

"The key focus for the operation during the coming quarters is on realising the potential for sustained productivity and cost improvements."

Centamin plc Results for the Quarter ended 31 March 2016

Centamin plc ("Centamin" or the "Company") (LSE: CEY, TSX: CEE) is pleased to announce its unaudited results for the three months ended 31 March 2016.

Operational Highlights
· Gold production of 125,268 ounces was a 6% increase on Q4 2015 and 16% higher than Q1 2015.
· Cash cost of production of US$603 per ounce and all-in sustaining costs (AISC) of US$758 per ounce.
· Unchanged 2016 annual guidance of 470,000 ounces at US$680 per ounce cash cost of production and US$900 per ounce AISC.
· Process plant throughput of 2.88Mt was 5% above the base case target rate of 11Mtpa, with scope over the coming quarters for further throughput increases through ongoing optimisation.
· Open pit mining total material movement of 15.2Mt was a quarterly record with the full annualised rate of 66Mt reached, as scheduled, for the expanded operation in March.
· Underground mining rates and average grades were above the forecast average for the full year.
· Continued positive results from underground exploration drilling at Sukari supports the potential for further resource and reserve expansion.
· Exploration continues to support the potential for near-surface and high-grade economic mineralisation in Burkina Faso. Encouraging results from initial drilling programmes in Côte d'Ivoire.

Financial Highlights
· EBITDA of US$67.5 million was up 42% on Q4 2015 and up 27% on Q1 2015.
· Basic earnings per share 3.56 US cents, up 3.75 US cents on Q4 2015 and up 1.06 US cents on Q1 2015.
· Centamin remains debt-free and un-hedged with cash, bullion on hand, gold sales receivable and available-for-sale financial assets of US$275.7 million at 31 March 2016, up 19.5% on Q4 2015.

Legal Developments in Egypt
· The Supreme Administrative Court appeal and Diesel Fuel Oil court case are both still on-going. With the potential for the legal process in Egypt to be lengthy, Centamin anticipates a number of hearings and adjournments before decisions are reached. Any enforcement of the Administrative Court decision has been suspended pending the appeal ruling.

The bloody Legal developments are a joke. It's certainly not helping CEY to develop and it just goes to prove that state meddling is counter productive, imo.

have just banked a very nice profit, though would have been a bit larger had i not tried to get out nearer the top

Wee punt short @ 124.15

that was brave with bullion remaining strong, albeit on the back of a weak $

No worries, won't hang about if it gets another wriggle on :0)

Stop to entry for risk free trade.

did well to hold that position o'night :-)

He who dares cyners, he who dares :0)

i dared and banked a good profit in the other direction :-)

Initial target 110 moved stop to 120p to lock in some profit should it go on another spurt.

When is ex divi date

According to website gone 20th April alders.