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.

dont know whether you remember cynic but back when this was at 40p i quite openly admit i followed your lead and bought in...however due to other circumstances have been sat on this as a long term hold rather than trading ...think ill hold a little longer lol...have prehaps got a bit of room to wait to see if production does meet expectations in Q4...saying that i followed doo too...ouch...lol

Herbert Bottomley selling 500,000 CEY shares... short it now at 170p

has your wallet supported your call, or is this just another no pain easy-peasy prognostication?

She's probably still all fully invested in her BP short at 300p!!

cey down again maybe time to move in to mml

I'm in both and will continue to hold CEY for now,might have got a little ahead of itself?
gold up,now $1345.
cyril

waiting for resources up date also waiting for new linners being fitted

CEY Centamin (gold) looking interesting this morning and looks like its chart indicators are on the verge of turning positive.

It has had its problems over the last 1/4tr with minor production faults.

But certainly these are said to be being sorted out and the stock unlike a lot of other producers isnt massively overbought.

Ive taken a position first thing today 'jumping the gun ' on the lower chart indicators.

SP of gold also going to new highs this morning.




dyor.

good post goldfinger how about clf

In both deputy.

Amazing EPS growth of 965% pencilled in for 2011, these are derd cheap compared to other producers..................

Centamin Egypt

ForecastsYear Ending Revenue (m) Pre-tax (m) EPS P/E PEG EPS Grth. Div Yield

31-Dec-10 23.28 10.38 1.38p 122.6 1.7 +74% n/a 0.0%

31-Dec-11 267.20 162.34 14.74p 11.5 0.0 +965% 2.91p 1.7%

(digital look)

Perhaps the reason for recent rise of gold?
cyril


BERLIN | Thu Sep 30, 2010 11:19am EDT

Reuters) - The easing of restrictions on China's gold imports should boost its influence on global bullion trade as Chinese investors turn to the open market to satisfy their hunger for the metal, the World Gold Council said.

Chinese gold demand is expected to show at least single digit percent growth this year at a time when high prices are curbing buying in other major physical markets like India, the WGC's Far East managing director Albert Cheng said on Tuesday.

This is likely to mean the shortfall between Chinese supply and demand, which stood at 144 tonnes last year according to figures produced by the WGC, increases even further.

"There is already a gap, and this gap will widen," Cheng said on the sidelines of the London Bullion Market Association conference in Berlin.

"The Chinese government... used to be afraid of too much gold being imported into the country, because that meant a drain of U.S. dollars. Now, this is nothing."

He said moves announced in August by the People's Bank of China to allow more Chinese banks to export and import gold mean the shortfall is increasingly likely to be met by gold bought on the global market, rather than domestically.

Chinese demand is the key driving force for a number of key commodities, such as copper, but its status as the world's biggest gold producer as well as its second biggest consumer has meant its impact on the wider gold market has been muted.

This could be changing, said the WGC, a gold industry lobby group.

"The answer to the question of why gold is not like copper, or iron ore, with (China representing) a big percentage (of total demand)... is that in the past few years the access to gold has still been limited," said Cheng.

"Going forward, with these measures, access will be much easier for investors who want it. In the next few years, you will see the real gold demand for China."

"I think the trend will follow other, base metals, because there will be no regulatory barrier for people who want to have gold," he said.

NO SOFTENING OF Jewelry DEMAND

World physical gold demand, particularly for jewelry, has softened in recent years as the global economic slowdown and an investment-driven rise in prices has put off buyers. Spot gold

hit a record $1,300 an ounce on Monday.

India, which alone accounts for around a quarter of global demand, has been particularly hard-hit. Indian gold imports fell to their lowest level in more than a decade last year.

ewelry consumers in the United States and Europe have also been put off by a lack of consumer confidence that has affected a string of luxury goods. But the strength of Chinese growth is reassuring the country's jewelry buyers, Cheng said.

"The (economic) growth rate in the last few years has not dropped," he said. "That has a very good effect on jewelry demand. Jewelry demand has not come down in the last few years, it has seen a 5-10 percent increase year-by-year."

He expects this growth rate to be maintained this year. "Over and above all of the emotional reasons for buying jewelry, in China it is also purchased as a store of wealth."

However, he said demand for products like physically backed exchange-traded funds remained more muted than in Western countries, as Chinese buyers were more culturally acclimatized to buying physical gold in the form of bars or jewelry.

"In the U.S., there is a need for gold products which give investors an exposure to gold in a cost-efficient and easy way, because physical gold is not widely available," he said.

"In China physical gold is widely available," he said. "Asians have strong appetite for physical gold -- they like to bring it home."

(Reporting by Jan Harvey; Editing by Anthony Barker)

http://www.theglobeandmail.com/globe-investor/investment-ideas/bidding-wars-heat-up-for-junior-miners/article1748414/


....

Among the companies Mr. Ing thinks could be picked off is Centamin (CEE-T2.70-0.02-0.74%), which has a nine-million-ounce gold reserve base and expects to raise output from 160,000 ounces this year to 500,000 by 2012.

cey up to day me bought in again on rise also bought in to afr regards deputy

CEY & AFR the dream team

Top riser today! Up 6%+ (to counter the RKH negativity!) ;o)

Harry - not that it matters but it ain't the top riser!

It is on CEEFAX page 225, but I concede it may not be THE top market riser.

I should have added a :-)

Goldman tips CENTAMIN EGYPT and Euro Goldfields in gold rally to $1,650.
StockMarketWire.com
13/10/10

Goldman Sachs raises its gold price forecasts on the basis of slowing US growth and the prospect of sharply lower US real interest rates.

It is now forecasting $1,400/oz, $1,525/oz and $1,650/oz on a 3, 6, and 12-month horizon - previously $1,260/oz, $1,330/oz and $1,365/oz.

These forecasts imply a US$1,575/oz average price in 2011, up US$175/oz.

'As the gold price increases we believe that mid-sized, emerging producers will outperform the major producers,' says analyst Eugene King.

'Delivering volume growth into an environment of rising prices will provide scope for margin expansion as production ramps up and potentially make them attractive M&A targets.'

On this basis, Goldman initiates on CENTAMIN EGYPT and European Goldfields - 'two emerging gold producers with significant resources' - as buys.

It also starts African Barrick Gold with a neutral rating.

Target prices: CENTAMIN EGYPT 270p, European Goldfields 1100p, African Barrick Gold 775p.

http://www.fxstreet.com/technical/forex-strategy/daily-commodities-update-technical/2010-10-14.html