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.

Total holding for BlackRock Investment Management (UK) Limited has gone above 10%

Total holding for BlackRock, Inc. remains above 14%

Has Centamin Plc (LSE:CEY) Got Enough Cash To Cover Its Short-Term Obligations?
Asher Wright December 15, 2016

Any company, including Centamin Plc (LSE:CEY) with no debt in its capital structure, would maximize capital returns by having an optimal capital structure, which includes debt. The debt reduces the overall cost of capital for the company. Due to its tax-benefits and legally-binding nature, it always costs less than equity.

A lower cost of capital increases a company’s valuation as it is the discount rate applied on future cash flows to calculate the present value; thus, indicating higher capital returns. This is one of the reasons – given interest rates at record lows – that most companies tremendously raised debt in their capital structure over the past few years.

On the flip side, given the interest-rate hikes are a part of the economic cycle, Centamin will be in a stronger position compared to companies which would have to reduce debt due to rising interest-costs in such a scenario. While zero-debt makes the due-diligence for potential investors less nerve-racking, it poses a new question: how should they assess the financial strength of such companies? Here’s a small checklist which I believe provides a ballpark estimate of their financial health status.
See our latest analysis for CEY
Is growth fast enough to value financial flexibility over lower cost of capital?

LSE-CEY-income-statement-Thu-Dec-15-2016

Zero-debt allows substantial financial flexibility, especially for small-cap companies like CEY with its market cap of USD $1,853 Million as they have limited capability of raising large sums through capital markets. However, choosing financial flexibility over capital returns is logical only if it’s a high-growth company. Given CEY’s revenue growth stood at 24.55% over the past year, the company’s decision to choose financial flexibility compared to increasing capital returns makes sense as it may need that funding under expected circumstances or to invest in more lucrative projects to fuel growth further.

Does CEY’s cash and short-term assets cover its short-term commitments?
LSE-CEY-net-worth-Thu-Dec-15-2016

Given zero long-term debt on its balance sheet, Centamin has no solvency issues. Solvency is the company’s ability to meet its long-term obligations. But another important aspect of financial health is liquidity: the company’s ability to meet short-term obligations, which are mostly comprised of payments to suppliers, bank loans and debts due over the next twelve months. To cover them, a company must have more liquid assets than these obligations. In CEY’s case, its short-term assets of $541 Million exceed the short-term liabilities of $50 Million, indicating sound liquidity position.

Conclusion

Centamin is a fast growing company with a revenue growth of 24.55% over the past year, making financial flexibility a valuable option for the company. In addition, its current assets cover current liabilities, giving it enough liquidity to operate smoothly in the short-term. Now I recommend you check out our latest free analysis report to see what are CEY’s growth prospects and whether it could be considered an undervalued opportunity.

Total holding for BlackRock, Inc. has gone above 15%

any prediction of GOLD any reason why it should go up. moslims are now able to buy gold, BB

126p +5.40p (+4.48%)

Blackrock had RNS increasing holdings 3 days in a row

In the very short term....from The BullionDesk:
"Gold prices are consolidating, but the downward trend dominates and it is too early to say whether support is in place. Indeed with the dollar index looking strong again, gold prices may struggle on the upside.
Gold prices are consolidating either side of $1,130 per oz, but despite the significant price weakness in the fourth quarter, there seems no rush to bargain hunt and that is no doubt due the confidence being seen in other markets, especially equities."

Nevertheless the chart looks quite promising!

re - chart looks quite promising!

That's why I bought a couple days ago @ 117.40p

Santa look of Naughty mines

A somber look at the miners and how they stack up. Great graphs comparing debt levels (hint: Centamin's a blue ribbon cash cow) And other things you might not have considered.

Santa look of Naughty mines

A good movement up after 11.30am and reaching at one time over 130p
since a bit of profit taking or the normal movement lower but again very strong on the order book and bouncing back close to 130p now

133.80p +5.50p (+4.29%)

As Gold price is on the rise for the last couple days, CEY is also moving north

CEY is well ahead of the other POG shares bouncing

Closed a S/B here for 15 points - still hold long term.

138.20 +3.80p (+2.83%)

TRADING AT HIGH OF THE DAY
as gold price is $4 higher

GOLD

just spiking all the way to $1156.3 + $14.6

end of year and bear closing perhaps?

Total holding for BlackRock, Inc. has gone below 15%

141.90p +6.10 +4.49%

Another good rise after the GOLD price is spiking since this afternoon $1189.60+$18.50

Q4 2016 Preliminary Production Results, 2017 Production Guidance and Dividend Policy Update

Centamin announces preliminary production results for the quarter ended 31 December 2016 from its Sukari Gold Mine ("Sukari") in Egypt.

Preliminary total gold production for the quarter was 136,787 ounces, an 8% decrease on the previous quarter and a 16% increase on Q4 2015. This brings full year production to 551,036 ounces, a 25% increase on 2015 and above the guidance range of between 520,000 and 540,000 ounces.

Quarterly throughput at the process plant was 2,948kt, a 5% increase on the previous quarter.

Open pit total material movement (ore plus waste) decreased 2% on the previous quarter to 15,811kt. Open pit ore production decreased by 25% to 2,183kt at an average mined grade of 0.84g/t. The average head grade to the plant from the open pit was 0.85g/t. The run of mine ore stockpile balance decreased by 592kt to 577kt at the end of the period.

The underground operation delivered 228kt of ore, 10% less than the previous quarter, at an average mined grade of 10.43g/t. Ore from stoping was 125kt at 10.01g/t and ore from development was 103kt at 10.94g/t.

more.....

Close @ 146.20p T+6

a gain of 28.80p or 24.5%

Gold has been moving lower