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.

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.

Loads of buying now.....

From iii


CAIRO Feb 18 (Reuters) - Centamin Egypt (CEY.L: Quote) said on Friday a sit-in of workers at its Sukari gold mine was minor, involved about 50 people out of a staff of 850 and had not disrupted operations in any way, a spokesman said.

"We are dealing with a handful of people but the most important thing on this is that operations of Sukari are not impacted in the slightest," Centamin spokesman Bobby Morse told Reuters, adding that the firm was seeking to establish what was behind the industrial action.

Egypt's state news agency had earlier reported that more than 250 workers at a gold mine operated by Centamin began a sit-in to demand better pay and a switch from Australian to Egyptian ownership. (Reporting by Edmund Blair)

--------------------------------------------------------------------------------

Shouldn't that read lots of buying AND selling?

No.....check out the blues.....

Check out L2 and understand AT trades!

More blue than red by a mile......why argue with me : I'm right,... this will rebound heavily.....if not today....in the next week or so....