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.

kernow Biography
A gifted trader - everything I do gifts money to others!

re >>>> Co based in Eygyt holds meeting in Oz. How odd.

nothing odd, the main assets are in Eygyt, but is a Australian registered company

maybe you should do a propper research and then you will make money instead of giving it away

Merry Christmas

balerboy

That's a good price , soon be up up to the 180's

Not really made any progress since Sept.

Ald, made a decision to range trade this one looking at chart so want to get to 195p.
have a good xmas all.,.

Cielo - thank you for enlightening me a a pompous Christmas to you to.

rumoured take over target by rio tinto any one got any input

i guess CEY is always a potential t/o target, but as RIO are a diversified miner of which gold is a very small part, i would not see them as a natural predator

I believe a few companies rumoured to be interested. RIO & EGU both in the frame, but totally unsubstantiated so far.

thank you mr cynic and mr harrycat see what brings 2morrow the share price could do with a kick up the backside

Bought some CEY today

i'm out of these for now but am sure i shall be back in due course ..... variety of reasons of selling, but one that made up that number was my feeling that gold may have run its course at least for the time being ...... my guess is the $ will strengthen over the next year, especially against , and that will tend to impact the price of gold

With inflation going up in China and across the world and Euro debt still not sorted, I am of the opinion gold will still move upwards.

i understand the counter-argument too, and both have equal value

Anthony Bolton: 'Gold is the only commodity to buy'


Commodities enthusiasts are investing five years too late, according to legendary fund manager Anthony Bolton.

"The best time for commodities was in 2006, when the whole world was growing above trend," said Mr Bolton, who manages the Fidelity China Special Situations investment trust.

"Western economies are anaemic at the moment, and I am not sure emerging market growth is enough to keep commodities going."

Despite many managers believing that commodities are a key part of the emerging markets story, Mr Bolton holds only one commodities stock in his fund, a gold mine.

It is uncertainty about America that is keeping Mr Bolton from increasing his exposure to commodities. While China is experiencing a bull market, he warned that the "stars of one bull market are not necessarily the stars of another".

He continued: "Commodities are measured in US dollars and the US dollar has been weak for the past couple of years. If commodities were measured in a stronger currency, the recent rallies might have been different."

The exception to this rule, according to Mr Bolton, is gold. He said he considered it a good investment while the West was experiencing slow growth.

"Gold is more like a currency than a commodity," he said. "Only a small fraction of gold mined is used for jewellery and the like. The way it is held as an asset in central banks is not a feature common to other commodities.

"Almost every country has a big budget deficit at the moment so it is in their favour to see their currency depreciate. Countries hold gold as a protection against that."

Chinese investors have also started to take an interest in gold, he said, where previously they were buying American bonds.

Mr Bolton, who formerly ran Fidelity's hugely successful Special Situations fund, which is predominately invested in the UK, also warned British investors that they might be in for a few more disappointing years yet.

He quoted Jeremy Grantham, the American fund manager, who likened economies in the West to the biblical story of Pharaoh's dream of seven fat years followed by seven lean ones.

"I don't think it will be as long as seven years of slow growth, but I'd say the UK was two years into a five-year cycle." He believes that Europe and the US face similar challenges but that we will all just have to "sit tight" through the recovery.

Mr Bolton was much more confident about China's growth, now that the country has begun to distance itself from dependency on the US.

"The global financial crisis was a wake-up call for China. It has driven them to be less reliant on the US economy. It won't happen overnight, but there will be a big change over the next five to 10 years," he said.

Last week Mr Bolton issued 162m worth of extra shares in his trust to meet demand from investors and to reduce the trust's premium (where the value of shares is higher than the net asset value of the trust).

If all the shares are bought it will take total funds under management to more than 732m.

NOTICE OF RESULTS



Centamin will announce its results for the quarter ended 31 December 2010 (Q4) on Tuesday, 01 February 2011.



In order to inform both the London and Toronto Stock Exchanges simultaneously, the announcement will be screened via the Regulatory News Service of the London Stock Exchange at 11am GMT, and at 6am Eastern Time on Canada News Wire on the Toronto Stock Exchange.



A conference call for analysts and investors with the Centamin management team will take place at 11.30am GMT / 6.30am Eastern Time on the day of the Q4 results. Dial in details for the conference call will be announced at the time of the Q4 results.

Sold about 90% of mine in the last few day's

Good call. Anything you're not telling us?

No , but once it get's below 160 i thought we would see a lot of sell's. Also the price was not moving up with the gold price like its peer's, i think the political risk as increased since the Tunisia unrest.

Yes, I heard the same. Close proximity to Tunisia has spooked investors. Once the political unrest is concluded CEY may well bounce back. How long that will be ....... I have no idea.

not that damn close and if the violence in tunisia had been linked to islamic extremism, then there may have been cause for concern - patently it was not ..... my own view of CEY and gold in general in in post 452