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.

Shares in gold miner Centamin* (CEY) headed 1p higher to 32.5p as the Egyptian gold explorer announced the latest drilling grades from its Sukari project.
-----
Centamin Egypt Limited
13 December 2006

SUKARI GOLD PROJECT DRILLING RESULTS UPDATE

Ra Zone High Grade Gold Intersection

Centamin Egypt Limited, the dual listed gold exploration company, today
announces that high grade gold assays were intersected in the Ra zone at 10950N
in drill hole RCD703, including 8m @ 101.71g/t Au from 588m.

http://www.investegate.co.uk/Article.aspx?id=200612130946587849N

-----
Tom Winnifrith told his readers that the shares could plausibly now be worth in excess of 100p per share

Bad stocks are set to drag down good ones
By : Tom Winnifrith
20/12/2006

THE New Year will be hard for Aim. An awful lot of rubbish has been floated over the past two years and, as these companies struggle to refinance, initial public offerings (IPOs) will dry up

In terms of longs, I am attracted to resource plays with near-term production that stand a good chance of being bought out by cash-rich sector leaders.

So Id buy Centamin at 32.5p (which I own)

I am bearish on Aim. I fear that the bad stocks (of which there are too many) will drag down the good. But quality will out and if you pick the right stocks your gains will be worthwhile.

http://www.thebusinessonline.com/Document.aspx?id=7E3C4870-C4C9-431F-880B-25603F66E009

Gold Takeovers Reach Record as Companies Fail to Find New Mines
By Choy Leng Yeong
Last Updated: December 27, 2006 00:31 EST

Dec. 27 (Bloomberg) -- Gold-company acquisitions this year surged to the highest level in at least a decade, and the industry may continue its buying spree in 2007 as producers struggle to find new deposits.

Producers are rushing to boost supply because mines are being depleted faster than new reserves are being found, and a six-year rally in gold prices is providing cash to buy assets.

`Scramble for Land'
The industry is staring down the barrel of the gun that says, `Where are the replacement ounces coming from?'''

Doing Deals
Global gold production in the nine months ended September fell 2.2 percent to 1,804 metric tons from a year earlier, London-based researcher GFMS Ltd. estimated. The lack of new supply will help boost gold prices by $200 over the next two years, topping $800 an ounce, Telfer said.

http://www.bloomberg.com/apps/news?pid=20601109&sid=aB3a0HjsLcYI&refer=home

Egypt restructuring gold mining industry, Centamin on ground floor
By Jon Nones
24 Jan 2007 at 01:36 PM

Egypt has signed a memorandum of understanding (MoU) aimed at restructuring the gold mining sector. The MoU was signed by Oil Minister Sameh Fahmy and the International Finance Corporation (IFC), the private arm of the World Bank group.
Egypt's existing mining laws, based on profit-sharing, werenot attractivefor foreign miningcompanies, and local expertise is currently insufficient to develop a home-grown industry.
Centamins [AIM:CEY; ASX:CNT] open-cut mine at Sukari in southern Egypt's Red Sea hills area hosts proven resources of more than 7.7 million ounces of gold, and further drilling is expected to further boost these figures. This will be the country's first gold mining operation of note in 2,000 years.
The new policy framework is expected to be completed within a year. Officials predict the industry could bring in more than $10 billion.

http://www.resourceinvestor.com/pebble.asp?relid=28366

Gulf Daily News - Manama,Bahrain

Two Australian companies already operate in Egypt's eastern desert. The largest, Centamin, claims proven resources of more than 7.7 million ounces of gold, and further drilling is expected to further boost these figures.
"From our own activity in Egypt today, particularly through the company Centamin, it has become apparent that the gold sector has the potential for Egypt to become one of the largest gold exporters in Africa," said Australian ambassador to Egypt Robert Bowker, who attended yesterday's signing.

http://www.gulf-daily-news.com/Story.asp?Article=168141&Sn=BUSI&IssueID=29311

January 28, 2007
That Was The Week That Was In London
By Henry Sandford

Gold hit US$652 an ounce during the week, higher than it has been in almost six months, and this fed through to some of AIMs bigger gold plays.

Avocet (AIM: AVM) shares gained 17 per cent to 108p, Bema Gold (AIM: BAU) was up 6 per cent to 293p, while Yamana Gold (AIM: YAU) advanced 13 per cent to 670p and Centamin Egypt (AIM: CEY) climbed 11 per cent to 35.25p.

Of these the performance of Centamin is the one worth watching as it is now on the radar screens ofsome big producers.

http://www.minesite.com/minews/singlenews/article/that-was-the-week-that-wasin-london-5/1.html

Thats what i like to hear, its only a matter of time before a bid approach.

Centamin Egypt Limited (CEY)
06 February 2007


Sukari Gold Project Resource Upgrade


Sukari JORC compliant resource upgrade to 8.26 million contained ounces
of gold

Increase of 560,000 ounces above the resource announced in November 2006

Cost per ounce discovered to date circa US$4

Confirmation of extension of mineralisation from the Amun and Ra zones
into the Pharaoh zone with higher grade north plunging ore shoots

Resource increase based on two months of drilling data

Drilling continues with nine rigs on site

http://www.investegate.co.uk/Article.aspx?id=200702060701027584Q



Centamin Egypt ups Sukari resource estimate to 8.26 mln oz gold

LONDON (AFX) - Centamin Egypt Ltd reported that the resource estimate from its Sukari Gold Project has risen to 8.26 mln contained ounces of gold, up by 560,000 ounces from that reported in November.

'There still exists the potential for further significant resource addition within the same Ra/Gazelle and Pharaoh zones as drilling continues northwards along strike,' it added.

http://www.hemscott.com/news/latest-news/item.do?newsId=39215199046076

Why gold is the asset you should hang on to
SUNDAY, FEBRUARY 18, 2007

Politics and finance are restricting the speed at which gold producers can get gold out of the ground. Politically unstable and historically more unstable regions are now being targeted. Egypt has now made it a lot easier for gold producers to get on with their projects. One promising minor gold producer with proven reserves is Centamin Egypt (CEY) which is now working at an accelerated rate.

Every new ounce of gold discovered cost over twice as much to locate as it has in the past, on average. In an attempt to defend their share prices, companies in this sector have started to undergo mergers and acquisitions activity

http://investingfinance.blogspot.com/2007/02/why-gold-is-asset-class-you-should-hang.html

Centamin to Proceed With $216 Million Mine in Egypt

By Jesse Riseborough

Feb. 20 (Bloomberg) -- Centamin Egypt Ltd., an Australian gold exploration company drawn to look for gold in Egypt by a 3,000-year-old map, will proceed with its $216 million Sukari project in Egypt amid soaring prices for the precious metal.

The mine, which the company says will be Egypt's first modern gold producer, will produce 200,000 ounces of gold annually for 15 year once it starts in 2008, the Perth, Western Australia-based company said today in a statement.

Gold prices have more than doubled in the past five years amid increased investor demand for the metal. Bullion for immediate delivery rose 80 cents to $671.55 at 5:32 p.m. in Sydney, it's risen 5.5 percent this year.

First production from Sukari, which has a resource of 8.26 million ounces of gold, will start in the third quarter next year, the company said in the statement. Operating costs will average $290 for each ounce of gold, Centamin said.

Centamin shares closed unchanged at 95 Australian cents. They have risen 32 percent in the past year on the Australian Stock Exchange compared with the 25 percent rise on the S&P/ASX 200 Index.

Financing for the mine is expected to be in place by the end of the second quarter this year, the company said. Drilling work at Sukari is continuing with the gold resource and future production rate expected to increase, it said.

The company said in 1999 that it had been spurred to explore the site by a map of Egyptian gold sites thought to have been drawn by King Seti more than 3,000 years ago. The map was found early last century and is held by a museum in Turin, Italy.

To contact the reporter on this story: Jesse Riseborough in Melbourne at jriseborough@bloomberg.net

Last Updated: February 20, 2007 01:35 EST

http://www.bloomberg.com/apps/news?pid=20601081&sid=apmxHjavPl7I&refer=australia

DJ Centamin Egypt OKs $216M Sukari Gold Project Development

Last Update: 4:38 AM ET Feb 19, 2007

LONDON, Feb 19, 2007 (Dow Jones Commodities News via Comtex) -- Edited Press Release

Centamin Egypt Monday formally approved the development of the Sukari Gold Project in Egypt following the completion of the Definitive Feasibility Study ("DFS").
The Base Case DFS concluded that a 4mtpa plant producing on average 200,000 ounces per annum, over 15 years of mining, is economically robust.

Total Capital Construction costs are estimated at US$216 million with average cash operating costs of US$290/oz (inclusive of 3% royalty) over the 15-year mining period.

The Sukari Gold Project will be the first modern gold mine operation in Egypt.
The 8.26moz resource is not closed off and a 10 rig drilling program is ongoing. Significant resource growth expected and potential to increase future production profile
.
Recent Drilling confirms growth 40 million @ 8.65g/t, 30 million @ 3.56g/t, 138 million @ 1.35g/t.

The Board of Directors of Centamin has received the results of the Base Case DFS, is pleased with the economic robustness of the Project and has committed to fast tracking its development.

Centamin has begun to assemble an owners' team to manage the project's development. The industrial base in Egypt is well developed and all services expected to be required during construction are available.

An overall schedule has been developed covering all phases of the project:
Project Go-Ahead Decision Feb 2007

Project Finance Q2, 2007

Commence Site Works Q3, 2007

Commence Tailings Storage Facility Q3, 2007

Kori Kollo Plant Arrives Egypt Q3, 2007

Commence Mining Pre-Strip Q4, 2007

Commissioning and Production Q3, 2008

Construction capital:

US$
Process Plant* $150.5M

Mining Fleet $48.8M

Owners Costs (including pre-strip) $16.5M

Admin/HSE $0.7M

Total $216.5M

*includes a contingency of $13.7 million

The capital estimate covers the design and construction of the process plant, together with on site and off site infrastructure requirements, including power, water supply and support services.

http://www.marketwatch.com/news/story/dj-centamin-egypt-oks-216m/story.aspx?guid=%7BB6014018-FFA9-47B5-9858-0A5DEF0E4028%7D

well i bought these shares after ludlow tipped them at 26p . very good so far ,

Mining Could Soon Be Top Money Provider For Egypt

March 22, 2007 8:48 a.m. EST

Joseph S. Mayton - All Headline News Middle East Correspondent

http://www.allheadlinenews.com/articles/7006822028

Centamin Egypt Limited (CEY)
05 April 2007

Centamin Egypt Limited Announces Closing of First Tranche of Offering and Listing on the Toronto Stock Exchange

http://www.investegate.co.uk/Article.aspx?id=200704051424565224U

Centamin appoints Barclays to manage $120m financing deal
17-April-07 by Edited announcement

Centamin Egypt Limited is pleased to announce that it has appointed Barclays Capital, the investment banking division of Barclays Bank PLC, as Mandated Lead Arranger to arrange a financing facility of up to US$100 million for the Sukari Gold Project.

Together with the proceeds from the recently completed TSX listing and offering, this facility will complete the financing arrangements required for development of Sukari. The funding is subject to completion of due diligence and detailed documentation. This process is underway and is expected to be finalised during the third quarter of 2007.

http://www.wabusinessnews.com.au/en-story/1/51101/Centamin-appoints-Barclays-to-manage-120m-financing-deal

Centamin Egypt Limited
02 May 2007

Environmental Approval Obtained

Centamin Egypt Limited is delighted to announce that it has received today Environmental Approval from the Egyptian Environmental Affairs Agency (EEAA) for the Sukari Gold Project. The EEAA accepted, without amendment, the Environmental and Social Impact Assessment, submitted by the company in February 2007.

The Company is delighted with the rapid turnaround of this approval and the co-operation shown by the EEAA and the Egyptian Mineral Resource Authority.

The first civil works contractor arrived on site at Sukari on 1 May to prepare the construction camp pad and grade the access road from the highway to the project site. As outlined in the recent quarterly report, work continues on schedule with the dismantling of the Kori Kollo processing plant in Bolivia and the recently acquired 28MW power station in Turkey.

The project remains on track for first production in the 3rd quarter of 2008.

For Centamin Egypt Limited

Josef El-Raghy
Managing Director/CEO

26 April 2007

http://www.investegate.co.uk/Article.aspx?id=200705021653210033W

Centamin Egypt Limited (CEY)
08 May 2007

Sukari Gold Project Resource Upgrade

HIGHLIGHTS


Sukari JORC compliant resource upgraded to 9.01 million contained ounces of gold

Increase of 750,000 ounces above the JORC compliant resource announced in February 2007

Cost per ounce discovered to date - US$4

Resource increase based on 3 months of drilling data

Drilling continues with 10 rigs on site

The Company is very pleased with the continued rapid increase in the size of the Sukari Gold deposit and there still exists the potential for further significant resource addition within the same Ra / Gazelle and Pharaoh zones as drilling continues northwards along strike.

http://www.investegate.co.uk/Article.aspx?id=200705080824491974W

Centamin Sees Further Gold Resource Growth Ahead

By Sarah Belfield
29 Jun 2007 at 10:46 AM GMT-04:00

http://www.resourceinvestor.com/pebble.asp?relid=33459

Centamin Egypt Limited
07 August 2007

SUKARI GOLD PROJECT RESOURCE UPGRADE


HIGHLIGHTS

Sukari JORC compliant resource upgraded to 9.79 million contained ounces of gold

Increase of 779,625 ounces above the JORC compliant resource announced in May 2007

Cost per ounce discovered to date - US$5

Resource increase based on 3 months of drilling data

Drilling continues with 9 rigs on site

The Company is very pleased with the continued rapid increase in the size of the Sukari Gold deposit and there still exists the potential for further significant resource addition within the same Amun / Ra / Gazelle and Pharaoh zones as drilling continues.

http://moneyam.uk-wire.com/cgi-bin/articles/200708070817216373B.html

anyone tell me if there was a more specific reason for the drop in sp, other than general market pressure...? my news/rns service temp out of order...
thanks in advance...!
Ted

Can't find any reason so far. No RNS that I can find. Strange that it dropped so quickly, but most trades this morning are showing as buys. CEY website is not yet up & running, so no help there.