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.

What about the gold mining sector . Minesite thinks the Lex column writer is a tosser as far as gold is concerned.

as i wrote a few weeks ago, i think bullion per se may well have run out of puff, and i now see that reiterated in the press .... i'm hardly prescient, for after all, gold had a phenomenal run during 2010

that said, it does not necessarily mean that ALL gold mining stocks will tumble ..... i am still of the opinion that once the nonsenses in egypt - and now of course that hotbed of fundamentalists in yemen - has died down, as assuredly it will, then a recovery here would (i hope) be very much on the cards

I did tell you under 100p on way.

.

so Mr Tanker, did you short them?

This is about an hour old - Egypt's stock market temporarily suspended

CAIRO, Jan. 27 (Xinhua) -- Egypt's stock market EGX 30 closes down at 10.52 percent drop, the second biggest decline in Egypt's exchange history.

Trading resumed on Egypt's stock marked after a 30 minutes suspension early Thursday, however upon resuming a sharper drop took place.

The broader EGX 70 dropped by 15.42 percent.

The Egyptian stock exchange is suffering broad declines due to fear over the ongoing demonstrations inspired by the Tunisian popular protests, asking the oust of the Egyptian President Hosni Mubarak.

Telegraph latest: Questor share tip: Strife presents buying opportunity at Centamin Egypt

http://www.telegraph.co.uk/finance/markets/questor/8285951/Questor-share-tip-Strife-presents-buying-opportunity-at-Centamin-Egypt.html

rather you than me gunga din.

buying or selling?

cynic political risk not acceptable at the moment.

i agree .... i wouldn't buy for now either, though as i already hold, shall continue to do so

What price are you holding at ? I sold all mine @ 160 and bought back 40% @ 139

seemingly 142.5 but i too have traded the stock (profitably) several times over the last year or so

Am a great believer in banking profit on the way up after taking a big, mostly paper lose 75% of my portfolio in the banking crises. I even sold CEY @182 but only a very small amount.

you and i think along similar lines, unlike many here who think both that a share can only (continue to) go up and that to bank a profit (real money) is a sin

re - you and I think along similar lines

I heard you two falling in love online many times already

You two also wear the same dress code black and a hat most likely

From the TELEGRAPH

CEY - Questor
Questor share tip: Strife presents buying opportunity at Centamin Egypt

Events, dear boy, events, was Harold Macmillans supposed reply to a journalist when he asked what he most feared. As BP learned last year, unpredicted events can have a significant effect on a company's share price. Now its the turn of Centamin Egypt to suffer a share price plunge. Questor upgrades the shares to buy.

By Garry White 12:26PM GMT 27 Jan 2011
Centamin Egypt 135.9p -0.8
Questor says BUY

Centamin has been a very successful Questor tip since its initial recommendation, but things have gone slightly sour in the last few weeks.

The company operates Egypts first modern gold mine at Sukari and social unrest in North Africa has spread to the country from Tunisia. This has prompted investors in the company to run for the door, concerned that it has just one asset, making it particularly vulnerable.

Sukari is located about 750 miles from Cairo in the Eastern Desert southwest of the Red Sea coastal town of Marsa Alam. The riots have ignited fears that the Mubarak government could be overthrown causing the rioting seen over the last few days to accelerate.

Brokers have argued that the fall has presented a buying opportunity in the shares although they concede that there could be more downside

The impact on Centamin will be minimal, mining analysts at Fairfax said. The employees are well paid and well catered for and much of the strife centres around Cairo, hundreds of miles away.

Economists at Merrill Lynch believe that whilst protests and tensions could continue, any risk of regime change in Egypt remains low. However, it does believe that newsflow centred around the trouble could continue to impact the shares creating a particularly attractive buying opportunity.

Despite the risks that come with a company owning a single asset, there is a very strong fundamental story underpinning an investment in Centamin.

The company is scheduled to release an update on its fourth quarter next Tuesday, in which it is expected to show a significant acceleration in quarter-on-quarter gold production.

BofA Merrill Lynch expects that fourth quarter production will come in at between 50,000 to 60,000 ounces, compared with 30,243 ounces in the third quarter. Centamin has been rectifying problems at its milling operation, which should improve the grade of the ore.

There is also exploration upside and we will hear results of new drilling later this year. There is an analyst visit to the site planned for next week as well, which is likely to result in positive newsflow.

The shares have plunged from just under 180p at the start of January to 135.9p now. They had already been drifting from their all time high of 197.1p in November as the gold price eased.

Questor has had a hold recommendation on the shares since September last year when they were at 168.8p. They have been recommended as a buy as high as 159.75p, but were initially tipped at 42.5p on January 5 2009.

They are trading on a current year earnings multiple of 9.9, falling to 7.7 next year. The company does not pay a dividend.

Questor also thinks the falls are overdone and the shares are now once again a buy, although the investment should be regarded as speculative because the situation in Egypt could get worse before it gets better. The shares are not for widows and orphans, but it looks like a good buying opportunity has presented itself.

Egypt unrest: Alert as mass protests loom

Egyptian security forces are on high alert, with thousands of people expected to join anti-government rallies after Friday prayers.

The government says it is open to dialogue but also warned of "decisive measures" as the fourth day of violent protests loomed.

Widespread disruption has been reported to the internet and mobile phone messaging services.

Baring Asset Management Limited aggregate position increased to 7.2609%

Rising now....looking good from 130p.....