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.

Perhaps a reason for todays fall?
http://www.resourceinvestor.com/pebble.asp?relid=39509
cyril

I'd expect Gold to fall back to 860 in the next week or two, fed rate cuts have been priced in now profit taking will bring it back, has been touted to drop to year low of $840 then back up we go.

bullion tends to track $ ..... thus if $ strong, bullion falls ..... $ is currently strengthening a bit (i think) ..... however, if Fed drops rates, as we know it will, will $ weaken or will the currency traders perceive that as being a "good and effective move" to kick-start the US, and thus worldwide economies ..... if so, the $ could remain at least relatively strong

CEY has tumbled about 10% today, which is not that surprising in the bloodbath ..... i do not say rush out and buy tomorrow morning, for bullion has also been smacked hard (-$22.00 to $861.00), but certainly put this interesting little gold producer on your watchlist for when the bleeding has been staunched.

Great little company Cynic by the look of it, oh boy ! do we need a stockmarket turnaround ...!

I'd expect it to weaken further as gold has further to fall yet, however if you bought today you'd still be extremely happy by christmas. weakening US rates and growing inflation plus safe haven and diminishing production globally all spells great future for this company.

Will soon be time to stock up on RRS, CEY, HMB, GFM, POG and Barrick in the US, plus PHAU, GBS or a plain old cfd or spread bet. That's where I'm headed this year, oh and long yen dollar and softs especially wheat.

Could do with a bounce now though as need the ftse competition to gain 600 points. only 10 days to go, plenty of time!!!!

The way everything is going, the safest bet would be that we all meet up in SEO (just joking, I hope).

in normal circumstances, i would say CEY is worth buying this instant with sp just touching 200 dma

anyway, i did albeit that i had to pay 55.5 in the end ..... logic = bullion +$22.00 and CEY sp had not really moved off straight-line fall from 64 to 200 dma

If only I'd sold out of a few more positions, this would have been on my short list for a possible entry.

if only i had not been so stupid i would not have lost so much money in the bloodbath and would assuredly have shorted Dow .... the latter was signalled loud and clear

http://www.investegate.co.uk/Article.aspx?id=200801310905559395M
cyril

At least we have some good news.
http://www.rns-pdf.londonstockexchange.com/rns/3926n_-2008-2-6.pdf
< cyril

TIME TO SELL. OR IS IT.

Another report of find.
http://www.resourceinvestor.com/pebble.asp?relid=40269
cyril

CEY's SP doing very nicely since last update,at present its trading at $1.54Can
which converts to 78p.
cyril

Another few more pence to go for an entrance point for me... should have got in couple months ago on last dip...

can't disagree Ted ..... no obvious reason for the decline

I had a limit order to buy at 69.25 this morning after the seeing the fall back in Canada last night.

cynic - 11 Mar 2008 20:04 - 129 of 130
big spike to puncture balloon!