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.

cynic you are assuming the political uncertainty will not worsten, if the civil disorder and violence increases then the military will have no alternative but to act, so it seems calling the bottom for CEY is somewhat premature.

I suspect interim figures tomorrow will get lost in the ether, unless they are hugely above expectations.

Off topic chaps.....2 stocks to look at....ABH (micro minnow)....and PPC(used to be Meridian Petroleum).....might have hit the bottom for both...

Starting to rise....I have to say that I would love to visit Egypt one day....Cairo museum,...pyramids and such....probably in winter or early spring....

Cheap deals going atm. Flight might be tricky. Watch out for moody camels!

RF

Beware of the Pyramid selling schemes

stupid boy Aldo!

Broker note from Citigroup:
"Egypt If there is quick, positive political change in Egypt that removes chaos from the streets, then we think a gold share like Centamin (CEY) is going to be a prime beneficiary. If there is ongoing serious instability, then the gold price itself and gold shares like Petropavlovsk (POG) are likely to be prime beneficiaries, in our opinion. After all, given the political challenges that Randgold (RRS) and CEY have faced, POGs political environment seems like a haven of calm.
Buy a basket, rather than one share In the UK gold space it is likely that diversification across a combination of gold stocks would serve best in the current political environment. We would favour POG followed by RRS and CEY, but would note RRS and CEY have substantial upside potential should political risks decline.
The lack of organic growth at ABG has dimmed our enthusiasm on the stock but Tanzania now looks relatively stable compared to the Ivory Coast and Egypt. We rate RRS, CEY & POG as Buy/Medium Risk (1M) and ABG as Hold/Medium Risk.

In answer to your question Ricardo, I drew a support line at 126p towards the end of last week, reflecting the last time the SP was at this level (and on some other occasions previously). The SP has bounced off this level three times in the last three trading days. So I guess that's support for now, no doubt I'll be accused of hindsight, but I rarely bother to post charts these days.

thats most unfortunate for all of us pth,i like your charts and comments.
perhaps you might bother a little more often in future? i for one would appreciate it.
thanks
regards
jkd

jkd

Nice of you to say so, but after quite a few years on this site, I'm becoming increasingly frustrated with the rampers, bashers and those with no idea but like to give the impression they do. I'm considering running my own website, not to give tips, but some charting ideas and of course a historical record to remind me of the mistakes I make like everyone else!!

beginning to sound like a miserable old g*t........come on pth .....

wot ho Emu ..... glad you held on? ...... i know that you're still some way off b/e but at least your running loss has been halved

don't take the p##.....you could have told me there was going to be an uprising....seems that waiting for it to come right apply's to many shares at the mo, inc XEL.,.

it's certainly been a bit rocky for AIM stocks over the last couple of weeks

Good quarterly report out.,.

Centamin Egypt reassures over unrest
Tue 01 Feb 2011


LONDON (SHARECAST) - Shares in Egypt-based miner Centamin rallied as it issued a reassuring statement over the impact of the curent unrest in the country.

"Recent political events in Egypt have not affected the safety of the company's employees or its day to day operations at its flagship project, Sukari. The company looks forward however to a speedy resolution to the current uncertainty and remains confident that such resolution will not negatively impact on the company's investment," it said.

The miner added it achieved record quarterly gold production of 53,189 ounces from the Sukari gold mine, with production averaging over 20,000 ounces per month in November and December.

"As expected, the installation of steel liners and lifters in the SAG mill during the quarter has substantially improved plant operations and reliability. The two consecutive months of record gold production in November and December demonstrate the deliverability of a substantially higher production profile in 2011 with our existing operations," it said

Cash operating cost averaged $498 per ounce for the quarter, making an operating profit for the quarter of $18.4m, while cash and liquid bullion assets totalled $166M.

"Expected 2011 production will be in the range of 250-290,000 ounces with average cash costs around US$450/oz. Further guidance is planned for mid 2011 as more information becomes available on the timing and scale of commercial underground production rates," Centamin added.

I thought they said the report would be out at 11am

have bouht back in.

Gold miner Centamin Egypt (CEY) has said its operations have escaped unscathed by the political unrest which is gathering pace in Egypt.

The FTSE 250-listed group used its fourth-quarter results as an opportunity to assure markets that recent political events have not affected the safety of the company's employees or its day to day operations at its flagship Sukari project.

"The company looks forward to a speedy resolution to the current uncertainty and remains confident that such resolution will not negatively impact on the company's investment," it said.

Centamin's statement came after Egypt-focused stocks found themselves thrust into the spotlight as protestors fight to end the 30-year rule of President Hosni Mubarek.

Renaissance Capital said in a note: "All this is much needed good news from Centamin whose share price is at the mercy of the political situation in Egypt."

Further good news for the shareholders came in the form of record quarterly gold production of 53,189 ounces from the company's Sukari Gold Mine, with output averaging over 20,000 ounces per month in November and December.

The company attributed higher process plant throughput for the stronger quarterly figures, following the introduction of the SAG mill steel liner and lifter system in early November.

"The two consecutive months of record gold production in November and December demonstrate the deliverability of a substantially higher production profile in 2011 with our existing operations," said chairman Josef El-Raghy.

Looking ahead, Centamin is targeting 2011 production in the range of 250-290,000 ounce with average cash costs of $450 per ounce, although this is slightly lower than previous guidance of 300 ounces.

Daniel Lian, research analyst at Bank of America Merrill Lynch, said: "Our sense is that the new guidance is very much on the conservative side, given that 2010 was impacted by unexpected ramp-up issues. We believe the risk to this guidance is to the upside, especially once the company completes the reserve update and