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.

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.

140p looks possible, imo. Keeping an eye on the Tunisian developments, an eye on the gold price and an eye on the chart. Who says blokes can't multi-task???

Harry, you don't just multi-task, you also have the third eye... well done.

140p....will it hold ?... hope so...need this to climb....

One guilty party selling and able me buy cheap. ............

Gloval AEGON has cut stake under 5%

Cut from 56,131,880 to 51,071,412 or 4.72%

Got a buy order in for 140p

Tunisia not yet sorted. Think I may watch for another day or two. Risk missing the boat though.

Gold news:

http://www.thestreet.com/story/10984102/3/gold-prices-tank-to-3-month-lows.html

Egypt protests: Police disperse Cairo crowds

Egyptian police have used tear gas and water cannon to break up rare anti-government protests in the capital.

Thousands of people had joined the protests in Cairo, inspired by the uprising in Tunisia and vowing to stay in place until the government fell.

At least three people died during Tuesday's nationwide internet-inspired "day of revolt", which the government blamed on a banned opposition movement.

sell before it is to late

,

I hope the falling knife is not to sharp , just topped up again

Ditto.....ridiculous drop now....this will turn into a nice profit....buy guys....

Three dead in Egypt last night & rioting continues. A little too early yet, imo.

Coming back strongly.....just has to climb....

I'm always amazed as to why people sell when a rebound is on the way....crazy....

How do you know a rebound is on the way? Buying when the sp is still falling is just as crazy, surely?