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.

http://arabia.msn.com/Business/Economy/AF/2010/January/1157313Update.aspx?ref=rss
cyril

Seems we're going to get a news release next week?
cyril

FIRST GOLD EXPORT AND DESIGN THROUGHPUT ACHIEVED







Centamin, the gold mining group in Egypt, is pleased to advise that the Sukari Gold Project has achieved yet another important milestone with the commencement of gold exports to a nominated overseas gold refinery, Johnson Matthey.




The commencement of gold exports from Sukari coincides with the achievement of optimal design throughput at the Sukari Gold Project during December 2009. The 4mtpa processing facility is now performing in accordance with commercial production standards and in line with design specifications.




Sukari is the first modern commercial gold mine to be operated in Egypt, and has a current mineral reserve of 142Mt @1.4g/t Au for 6.4Moz. The current mineral resource stands at 210Mt @ 1.52g/t Au for 10.29Moz Measured and Indicated, and 66Mt @ 1.6g/t Au for 3.4Moz Inferred.




The achievement of the above milestones are a result of the extraordinary efforts and dedication of the entire team at Centamin and the co-operation of the Egyptian Government, in particular His Excellency Sameh Fahmy Minister for Petroleum and Mineral Resources.




We look forward to updating stakeholders on further progress of the Sukari Gold Project in coming months as the exploration, development and production at Sukari continues.

cyril

Yesterday's disclosure that Centamin's sole project Sukari, in Egypt's Eastern Desert has exported its first gold went some way towards justifying its soaring share price, albeit the scheme is six months behind schedule and one fifth over budget. The expected promotion to the FTSE 250 in March should underpin the shares, as should the update on its proven and probable reserves that is scheduled for the end of this month. At 137p, hold on says the Times.

Gold price is weakening again...CEY is 124p.

Dived is the word 1108 at the mo.

CEY going down as dollar is strengthening.

REMOVAL OF CENTAMIN FROM THE AUSTRALIAN SECURITIES EXCHANGE OFFICIAL LIST UPDATE

As announced on 29 October 2009, the Company applied to the Australian Securities Exchange Ltd ("ASX") and was given approval under Listing Rule 17.11 for the Company to be removed from the ASX official list subject to certain conditions, which have or will be met.

The Company wishes to advise that Centamin will be suspended from quotation on the ASX from the close of business on 21 January 2010, and removed from the ASX official list on 29 January 2010 ("the Removal Date"). Trading in Centamin shares will continue on an uninterrupted basis on the ASX, LSE and TSX until 21 January 2010, after which Centamin shares will be quoted on the LSE and TSX only.

As previously advised, any shareholder who remains registered on the Company's Australian share register ("Australian Shareholders") on the Removal Date will be issued a share certificate representing their holding. This share certificate should be kept in a safe place as it is evidence of the shareholding. Computershare will remain the custodian of the share register.

There will be NO change to your shareholding - your rights and entitlements will be protected under the Corporations Law and the Company's Constitution.

To assist Australian Shareholders who may want to transact Centamin shares on the LSE or the TSX following Centamin's removal from the ASX official list, the Company has entered into an agreement with Southern Cross Equities Limited, which has agreed to facilitate trading in Centamin shares for a period of three months following the delisting. Shareholders can contact either David Keogh or Les Blake on at Southern Cross Equities on + 61 2 8224 2887 or + 61 2 8224 2832.

Alternatively, shareholders can contact their own broker to arrange the transfer of their shares.

UK domiciled holders are advised to contact their UK broker to arrange the transfer of their shares into the Depository Interest facility in the UK. Canadian domiciled holders can arrange for their shares to be transferred to the Canadian Register by completing an Australia to Canada removal request form and submitting it to Computershare/their local broker along with their share certificate/SRN number. The shares can be deposited directly with a Canadian Participant at the Canadian Depository for Securities ("CDS") or the request can be to issue a Canadian share certificate.

Gold price has dropped to $US1090/oz... bad news for CEY.

and me!!!

added a few more to the SIPP

Centamin increases reserves
Business Financial Newswire
Centamin Egypt shares were in demand this morning after the gold explorer announced an increase in reserves at its Sukari gold mine.

The total reserves have increased to 7.1 million ounces from the previously reported 6.4 million ounces.

By mid-morning the shares were up 5.25p to 112.0p - 4.9% higher since the market open

Now it's a good opportunity to get into CEY as reserves have increased...113p now.

Also,a strong recovery in the gold price today.up $26 to $1105.

A nice recovery in the SP,ptobably down to gold moving back above $1100/ounce,although yesterdays RNS would have helped.Next news is the offical opening of production which will have a lot of media attension.
cyril

Good time to buy at the current price of 120p.

OpHighlights

Construction and Development

v Completion of Stage 1 commissioning activities with remaining Stage 2
construction activities well advanced

v Process Plant performing in accordance with design specifications


Operations

v Mill throughput commenced following completion of Stage 1 construction
activities

v Continued increase in open pit mine production in both material and ore
movement

v Underground decline development underway

v Sukari Resource upgraded to a Measured and Indicated Resource of 210.2Mt @
1.52g/t Au for 10.29Moz Au with an Inferred Resource of 66.3Mt @ 1.6g/t Au for
3.4 Moz Au

v 15,337m of resource diamond drilling completed

v Eight drill rigs on site continuing resource definition drilling to target
Hapi, Amun Deeps and Pharaoh Zone

v Regional Exploration continues - drilling commenced at Quartz Ridge Main
Quartz Vein structure during the quarter with 16 holes holes for 1,436m
completed to date. Drilling confirms mineralised quartz vein shear zone
structure

Commenting on the quarterly report Josef El-Raghy, Managing Director/CEO of
Centamin, stated:

"The quarter saw the maiden feed through our mills at Sukari. This follows the
successful completion of Stage 1 construction activities and the achievement of
design throughput from the Sukari processing facility. We have also seen the
first gold being exported and sold at spot prices from Sukari which represented
one of the last major milestones in project execution. From the rate of
production and the recovery rates reached so far, Centamin remains on track to
hit its production target of over 200,000 oz Au in the current calendar year.
Corporately, our move to the Main Market of the London Stock Exchange during the
quarter was another step in the Company's growth as the Company continues to
evolve from a junior explorer to a significant gold producer".
cyril

Just sold Kenmare Resource at a 23% loss to top up with more CEY

Topped up myself this am as gold rising,from memory at the expected 200k/ozs then mining costs are $350 dropping to $300/oz at 500k. So excess of $700/oz before royalties and taxes.
cyril