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.

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

would like to see these rise above 150p on this RNS..

CEY announces it has reached the 1tonne of gold poured,which is 32k in ounces.If they are getting $11k/oz = 23.5m,we can expect increases on that output,so well in excess of 100m gross revinue for the 1st year?With the M/Cap of 1.26billion
that would i believe put us on a P/E in excess of 20,not sure what the norn for gold is?
cyril

Centamin Egypt

144.75p


"Questor says BUY

Gold producer Centamin issued its third-quarter results last week confirming all was on track to meet its full-year targets.

Gold output increased from just 240 ounces in the second quarter to 36,621 ounces during the three months to March 31. This was ahead of expectations. The company said it was on track to produce 200,000 ounces in its first 12 months of production.

Centamin also said its proven and probable reserves had increased to 7.1m ounces from 6.4m. There is the possibility that there could be material upside to the current reserve base from deeper zones.

Each ounce of gold cost $403 (274) to produce, which looks low-cost considering the group is starting to ramp up production.

Production costs are expected to be at a similar level in the current quarter. The gold price is currently at about $1,195. Gold sales in the period totalled 32,994 ounces at an average price of $1,105 an ounce.

The group plans to expand its processing plant capacity from 4m tonnes a year to 5m tonnes in 2011 and 8m-10m tonnes in 2012.

We will also hear soon whether Centamin will be included in the FTSE 250, which will be positive for the share price if it happens.

One broker described the company as "delivering a set of results with exactly what the market wants to see steady growth with no surprises". Questor agrees and that's why the shares hit an all-time high on Friday.

The current debt crisis sweeping through the southern eurozone should support the gold price.

However, if there is any major flight to safety this will cause the dollar to strengthen further, which is a negative for gold.

The shares were first recommended on January 5 last year as a "tip of 2009." They are up 241pc since then but remain a buy.

still can't get past 1.50p....

u remember roly ( aldwickk) the first time we bought these .....6p i think ,,,,and that damn mining minister who held everything up for what seemed an age ..................

yes these are my largest holding now , since i sold 50% of my AFR. i first bought CEY at 15p .......... ps When are you going to send that email ?

when everything else is in the red we've finally broke through 150p...onward and upward.