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.

Bought in at 127p

Centamin Egypt gold mine workers stage sit-in

And now in auction.

Plenty of people out of job... just sack them

Thought you were all for freedom in the Arab world?

It was death to Murbarak, now it's death to the workers. Can you really get any more hypocritical?

Nobody's indispensible... even you.

Good to see your morals only extend as far as your wallet (or purse in your case).

Thanks Skinny for your post. Very timely and useful. The proper use of a bb.

It looks a bargain to me.......going long again now......risky but when you remember that his was 180p not so long ago......

It's very good opportunity for buying as this would soon settle down.

Kernow - you are welcome.

Why is it a good opportunity?

The miners are on strike ergo the mine is not producing. The strikers are demanding Egyptian ownership which CEY are hardly likely to agree. I would imagine the BoD will do everything they can to resolve the issue quickly, but if it drags on, revenue will be hit and expect a profit warning in due course. You're gambling on a quick resolution. You never know, the new Egyptian gov't, whoever thay may be, might nationalise the mine.

It's worth a punt but not to go over the top.......nationalising is not even on the agenda.....at least a year away if it happened at all....probably not.....

RNS Number : 5215B

Centamin Egypt Limited

18 February 2011

Centamin Egypt Limited ("Centamin" or "the Company")

(LSE: CEY, TSX: CEE)

For immediate release 18 February 2011

UPDATE

Centamin Egypt notes the press speculation with regard to operations at its Sukari mine. Centamin

can report that there has been minimal reaction at Sukari to the wider political changes in Egypt. The

company is aware of its obligations to update the market of any activity at its Sukari mine which would

have a material impact on trading. Operations at Sukari continue uninterrupted.

More importantly, now that the trouble has spread to Bahrain, it looks like the F1 may be in jeopardy there!
CEY still on my watch list, but I agree that it looks a risky punt atm. Better opportunites elsewhere, imo.

'minimal' - interesting word

Obviously trying to stop the sp drop

glad i sold out about a week ago, merely because a bit of general liquidity felt to be no bad thing

Bought more sub 120p.....delighted !......check out latest rns via Skinny above.....it's at times like this that the best profits can be made.....super price.....

At this price you have to be nuts not to jump in.....

But people are aware that they will have to hold over the weekend which will probably stop any rise today

risk/reward

Totally agree, rf.