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.

This is a very large market cap..?....can't get back in ?...nonsense....more than a billion pounds in value...?....

And it looks like a short at the moment until more details are released.

What did I say ?...diving now.....

.

brave man to short as with bullion still strong, i'ld guess short-lived dive

well..yes....

as for me, i have just topped up at 166 - probably a rash move!

should have elected for NYO Cynners considering 20% increase in s/p today coupled with the fact that like myself you already own a shedfull of CEY ........

Depends on placing price....

According to Reuters
Centamin placed 51.5 million shares at 167 pence each with BofA Merrill Lynch acting as sole bookrunner.

Full article:

http://www.reuters.com/article/idUKLDE6B80UW20101209?type=companyNews

Thanks midknight.

http://www.reuters.com/article/idUKLDE6B80UW20101209?type=companyNews

For people who can't copy & paste

Oh dear.

Seems some of you don't understand the market but never mind. That's the difference between people that are investors who only watch a few stocks and traders who have to watch everything that is going on.

rf - you're an idiot sometimes which is why you like throwing money away.
Harry - (and I don't include you in the above comments) I didn't say you couldn't get back in, just that it was very difficult once you're out to gauge when to get back in.

For those that think I'm talking rubbish, I suggest you check-out AST; CNR and THR

...afetr saying that, I am surprised the sp has dropped below the placing price.

But I guess the new shares don't come to the market till 12 Dec so there appears to be time for some to short.

My limit buy has triggered at 1.649848 which seems a bit pedantic! However, happy to now hold 'til the New Year.

Well I've topped up, taking this opportunity with the sp down 18% from its high and the outlook very rosy.

back in myself - 17 p below my previous exit and below the placing price was too dificult to resist.

hey frogspawn - i only had a "norm" though i confess that is now 2 x norm

DD - CEY is pretty liquid and is a "proper" stock rather than MM only