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.

hi aldo ..... no i haven't .... was quite tempted a moment ago, but there's an awful lot of stock on offer so held fire

==========

but then did, perhaps a bit prematurely at 142.5 ..... worked on the premise that there shouldn't be more than say 5p downside

Topped up again......just got to turn around otherwise more medals than the UK diving team at the olympics.....

Have a look at this:

http://www.thestreet.com/_yahoo/story/10979943/1/gold-prices-slammed-by-brazil-rate-hike.html?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA

Not sure of the best time to be looking at FTSE futures figure, but currently -91 for the morrow, so may be best to have a look at 07.00 hrs friday and to judge then if there is more downside to come.

http://uk.ibtimes.com/articles/20110120/china-overheating-fears.htm

The first trigger has come with confirmation that Chinas economy grew by 10% last year, with the obvious conclusion that it is bubbling out of control and requires some serious fiscal tightening. This has clearly negative implications for the mining sector, with the chief victims today being Mexico focused Gold and Silver miner Fresnillo (FRES), Kazakhmys (KAZ) and Centamin Egypt (CEY). Their shares fell by as much as 5%.

harry - you're behind the game .... dow has recovered well and is now slightly postive, so ftse cash is +25/30

Agreed. The point I was trying to make was that looking at futures before the open tomorrow may give a good indication of what is going to happen in the morning trading session and therefore be a guide as to whether CEY is going to drop further.

05:35 - cash indicator is +6

This is truly a discount for a gold counter.

Did you all get in yesterday, guys? It's on the up now.

Yes in at 143

unfortunately already hold at 1.68.,.

Likewise BB but did buy some more yesterday @ 147 not as good as 143 but then my timing's rarely right!

Slight rise in the gold price to $1348/oz. but not convinced it will hold in the short term. Happy to watch & wait today, though risk missing the bounce. Good one for the s/betters.

After being volatile at the start, as the day goes on there is more support on the order book bid side,
The GAP UP at the opening from yesterday,s closing price, was the reason for that.

Forgot to tell you, the bounce back yesterday at 141p was no coincidence, but a very important 61.8% Fibonacci retracement at that point.

drew my own conclusion differently, but always useful when various tools - aka charts etc - concur

The fools and the conclusions go >>>> HAND in HAND

And as usual the conclusions are not given

and back to 151.9p to buy - high of the day

So what is the charting prognosis then? Historic Fibonacci retracement is great, but would appreciate forward looking movement!

learn to read then before you get that spiteful little tongue of yours wagging
you'ld then see exactly why i drew the conclusion i did