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.

in response to hyleo (232), and because it was irresistible and puerile ...... CEY for short, short, short!

It does sound a bit like a football match. Let's hope that it is not the American gridiron variety!

I always thought it should be Buy Low, Sell High or Sell High, Buy Low!

Latest gold price $1091.
Weakness of dollar cited.$1100 soon

CEY is still going up, cynic.

and i still hold them!

cynic when this go main list on November 5, can you see price falling back slightly . or do you think the market will open there arms to it.

if i was that bloody clever i'ld be making even more money than marni!

in honesty, i think CEY is an excellent fledgling company that looks to be heading strongly in the right direction.
i cannot imagine that moving to the main market will harm its price per se, but of course all stocks, no matter how good, rise and fall according to sentiment and other factors

I guess they will be some upward movement - however small - as tracker funds take up shares.

I see that Evolution have downgraded CEY from a buy to add,with price at 118. Merrill however rate it a buy with a price of 190.
CEy are expected to churn out some 200,000 ounces in the first year,rising to 500K by 2012. A factor which should help to make it a takeover target.
The worlds biggest producer of gold, Randgold Resources produce 650K .They have a market cap of just over 3.5 billion. CEY is at 1.3 billion.These figures suggest there is some milage left,especially with the rising price of the yellow stuff.

CP for me a little disappointed with the SP considering the POG,but as your posts
points out a M/Cap of 1.3billion.What is needed is imo, an update to let the market know how production and costs are coming out? Its a large M/C considering no word on initial output,would be nice if with POG at these levels the market had something to get its teeth into?
cyril

Cyril,don,t lose sight of the fact that CEY stood at 83p at the beginning of September.Two nonths later,the sp is up by over 60%.A fantastic rise by anybody's standards.
After all,Rome was not built in a day,or even 2 months. Just ask NERO! (who they say tried to torch the lot!Or,perhaps he fiddled while somebody else did the torching.)

CP yes your right but a lot of that has to do with the POG.Its just to get the full benifit i'd like to see a progress report,it is afterall a 1.3b company.
cyril

I was listening a little earlier to Charlie Morris ,head of HSBCs Absolute Return, re where the price of gold goes from here.In his opinion,gold mining companies in general had a long way to go yet.The main of the reason, he felt, was that up till now they had been badly managed.He was a bit sketchy on why this was the case,but a bit of "food for thought."

A banker talking of bad management,hmm? lol
Seriously though nice to know that potential,still think a update of some sort
is needed to assure the market everythings in order?
cyril

Transfering to the main market seems to have done the trick,up now at 147p.
cyril

sold my AVM to buy CEY.. last week, shame but looking like the right move thanks cynic

Also in but wished I'd done it earlier, good luck all.

In my SIPP at 92p in August. Makes a nice change for me :-) No reason to sell yet imho

Especially considering the rising gold price.(although down a bit this morn)