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.

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

StockMarketWire.com
Gold mining group Centamin has reached the high grade Hapi zone at Sukari.

Centamin said it intersected the zone as expected at the 920 level of the mine, approximately 1190 metres from the portal entrance and at a vertical depth below surface of 180 metres.

Chairman Josef El-Raghy said: ""Reaching the high grade Hapi Zone from our underground development is an important contributor to Centamin's strategy to increase our gold production from the current Sukari plant.

"The initial sampling from underground is very encouraging and we look forward to bringing Sukari's underground operations into commercial production over the coming months."

Falling quite quickly today. Not sure on what news.

market not impressed at moment with the upbeat news, buy the rumour sell the news must be the order of the day, looks good value to me at this level currently 160p and on good support level, production increasing as well as resource.

Egyptian government also loking at new licences in near future, details below

Centamin Egypt sees Q4 output beating Q3, FY on track

03 Nov 2010 - 11:08

* Sees Q4 gold production exceeding Q3's 30,243 ounces

* On track to meet revised FY target of 160,000-170,000 oz

(Adds details)

LONDON, Nov 3 (Reuters) - Centamin Egypt produced 30,243 ounces of gold in the third quarter and said it is on track to meet its revised target for the year.

"With improved mill availability and an increasing grade profile, we are confident that Q4 will deliver considerably more ounces at lower cost than Q3 and keep us on track to achieve our revised production guidance," said Chairman Josef El-Raghy.

In September, the company cut its gold output guidance for 2010 by 15-20 percent to 160,000-170,000 ounces.

Rival London-listed gold producer Petropavlovsk again lowered its gold production guidance for 2010 while claiming many difficulties it encountered this year have now been overcome. [ID:nLDE6A114X]

(Reporting by Julie Crust; editing by Golnar Motevalli)

((julie.crust@thomsonreuters.com; +44 207 542 3847))

Keywords: CENTAMIN/

Egypt eyes new mining law to attract gold investors

26 Oct 2010 - 09:43

* Pharaonic mines seen as a source for gold

* Mining code changes in 2008 revived interest

CAIRO, Oct 26 (Reuters) - Egypt is drafting new legislation to boost investment in its mining sector, a minister said in remarks published on Tuesday, as the country seeks to capitalize on renewed interest in gold mining in its Eastern Desert.

Pharaohs once dug up gold in the desert to gild amulets and sarcophagi, but the industry faded in the 20th century largely because of curbs on foreign investment imposed by President Gamal Abdel Nasser.

Other changes to Egypt's mining code in 2008 renewed interest, attracting firms such as Centamin and Canadian mining company Nuinsco .

The Eastern Desert, littered with pharaonic mines, is now seen as a potentially lucrative source of gold. [ID:nLDE68K18W]

Petroleum and Mineral Resources Minister Sameh Fahmy said his ministry had finished drafting a new law to encourage investment in mining and protect the country's resources from being wasted, the state-run al-Ahram newspaper reported.

The cabinet was reviewing the draft and will pass it along to parliament for ratification, Fahmy said.

The ministry has drafted a mining map locating 120 gold mines it believes were used by the pharaohs, he said, adding that more than 100 foreign firms had shown interest.

"We expect at least 50 international firms to be operating in Egypt in the coming period," Fahmy said. (Reporting by Dina Zayed; editing by James Jukwey) ((dina.zayed@thomsonreuters.com, +20 2 2578 3290, Reuters Messaging: dina.zayed.reuters.com@reuters.net))

Keywords: EGYPT MINING/

i think it's just profit-taking too, and may well buy a few more ..... a short RNS of today is below


Centamin Egypt produced 30,243 ounces of gold in the third quarter and said it is on track to meet its revised target for the year.

"With improved mill availability and an increasing grade profile, we are confident that Q4 will deliver considerably more ounces at lower cost than Q3 and keep us on track to achieve our revised production guidance," said Chairman Josef El-Raghy.

In September, the company cut its gold output guidance for 2010 by 15-20 percent to 160,000-170,000 ounces.

i think it's just profit-taking too, and may well buy a few more ..... a short RNS of today is below


Centamin Egypt produced 30,243 ounces of gold in the third quarter and said it is on track to meet its revised target for the year.

"With improved mill availability and an increasing grade profile, we are confident that Q4 will deliver considerably more ounces at lower cost than Q3 and keep us on track to achieve our revised production guidance," said Chairman Josef El-Raghy.

In September, the company cut its gold output guidance for 2010 by 15-20 percent to 160,000-170,000 ounces.

Sold a few at 172 today bought back at 160 , happen to catch the RNS just after it was posted