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.

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

I can read. I was hoping that the charting experts would predict the future rather than saying what happened was expected.

Is the AKA bit, the nasty tonge of yours.
I have a ( moneyam ) nickname >>> cielo

AKA ( used to describe pseudonyms, aliases, nicknames, working names, legalized names )

????????????

HARRYCAT

re - charting experts would predict the future

Fibonacci 61.8 % refers to the Golden Ratio, as it is consider the strongest Fibonacci on the way to bounce back, with the chances of on a longer term a posible BREAKOUT on the future, but that is a long way now and so many things can happen in between

But did the calculations if you really want to see so far away

On breaking 203p on the future then the next Fibonacci point would take you to a price of 282.50p

Thanks for that. What about further down side though? Chart trend has been down since October.

pays yer money and takes yer choice ..... charts and the like are only a tool and not gospel .... also, no share continues either up or down in a straight line

Broker note from Canaccord today:
"At current prices, Centamin is trading at 0.84 times our spot NAV estimate. We continue to believe that the Sukari asset remains a best-in-class development project and the recent sell-off may provide Centamin with an opportunity to make an acquisition, which could be value accretive at these lower sector equity multiples.
Although it is difficult to forecast how the succession from Mubaraks presidency will affect Egypt over 2011, we believe it is important to note that the legislation surrounding the mining licence at Sukari is written via government legislation, that there are no other significant operating gold mines in Egypt and that it would take a significant political shift in the country to affect Centamins right to mine (and to continue to provide much needed revenues to the government via its interest in the project). In the short term, we can see the potential for weakness in the share price; however, should the political situation in North Africa stabilise, or at least not spread into Egypt, we believe Centamin will track back relatively easily towards our target P/NAV multiple of 1.0 times. Despite our recent reduction in target price, we see value in the shares at these levels with what may turn out to be false underperformance once the situation in North Africa settles."

Good article, Harrycat.

Gold up $6....I'm expecting CEY's sp to recover very soon and start to climb....

If it goes below 140p, I am going to buy more.