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.

egypt already is a republic you silly sod! .... are you sure you know the diff between egypt and bahrain, because i know some educational standards in recent years have been pretty poor quality??

Two of my exwives I presume....Hey !....I'm no expert in politics or international affairs.....Bahrain is a kingdom....I think....but both countries need some reform and fairness brought in.....always reminds me of the "Likely lads" and one of the guys ends up on a oil tanker with the next stop being Bahrain ......and no way off it....

where are they going to get the money to give the people a better life .by not giving a way what they have .they have nothing else . to much of a risk for me .

If its to much of a risk for TANKER with his history of investments then we are all DOOOOMED , i say DOOOOOOOOOOOMED.

only 38p to go to break even.........

ald .cameron is in egypt so things could be ok so i will keep my options open on these.
egypt needs friends so looking good for visit

Gaddafi will be history soon...


Ali Zeidan, a senior member of the Libyan League of Human Rights who is in Munich, pieced together the pattern of violence in the Libyan capital that began early on Monday. "Protesters gathered for very big street demonstrations. Then at 3am, forces came without any warning and started shooting live ammunition into the crowd. Some of the demonstrators ran, others fell. There were about 60 killed and around 130 injured. It wasn't the police, it wasn't the army, it was Gaddafi's elite guard assisted by paid foreign African fighters," he told the Guardian.

"Then this morning Tripoli was eerily quiet. All shops, offices, pharmacies, banks were closed. It was as quiet as a Sunday in London 50 years ago."

He said all morning people had prepared for renewed protests on Monday evening in Green Square, with some people making the journey from outside Tripoli.

"Libyans used to be afraid. But after they saw the blood, they aren't afraid anymore, they are angry.

"Everybody knows somebody who has been killed or injured, everyone is very angry. What Gaddafi's son said made people furious, it's as if the people can just be treated like trash. Now people don't want to go back to what they had for the last 42 years [of Gaddafi's rule]. Now they feel no fear, if there are deaths people accept that we must carry on. Protesters will go to the centre again today and keep demonstrating until the job is done."

He added: "This is a new feeling for Libya: people look at their situation where there is no dignity for humans, no respect. The Libyan people are fed up, they are a patient, kind, quiet people, but now there's a feeling that to the outside world they aren't being respected as humans. There's a very strong feeling among young people: what do we have to live for? There's no life, no education, there's no jobs, no sport, no internet, no entertainment. What do we have? Nothing."

One demonstrator posted an account to the Alive in Libya website, describing the attacks on the crowd: "Heavy fire, like it was a war. Until you can't even hear or even see what's happening.

"The demonstrators scattered, and they suddenly brought in their gangs chanting 'Fatih' [One of Gaddafi's titles] and they re-entered the square. We took shelter in the neighbouring buildings for a while then retreated. There was also strikes by anti-aircraft missiles, we saw this in front of us. Those that I saw with my own eyes: two wounded, one shot in the head."

One young woman in Tripoli wrote by email to the Guardian: "The general sentiment here is mixed. One of hope, fear and excitement. Fear not of being hurt or shot but of the unknown. Hope for change. Excitement for what's to come. There is a complete blackout of information. Nothing official, nothing confirmed. Who's winning, how many are dead. Who's still here? Who's left running with their tail between their legs. The only source of information is that between each other."

In the east of Libya, where support for Gaddafi is traditionally weak, the city of Benghazi where over 200 people are believed to have been killed in five days of violence was said to have fallen to the protesters after police retreated. Residents were reported to be organising vigilante groups to protect themselves and distribute food. In Paris, the International Federation of Human Rights estimated the death toll at between 300 and 400 by Monday afternoon.

The group also reported soldiers in the east had defected and several towns were in the hands of the opposition. Tunisians who had left Libya described to Agence France-Presse how the disturbances had now reached the west of the country. In Zaouia, 35 miles (60km) west of Tripoli, a Tunisian hairdresser described how police had abandoned the town on Sunday after days of confrontation between pro- Gaddafi groups and protesters. Shops were closed, buildings had been attacked and burned and people had stolen police cars.

Souhayr Belhassen, head of the International Federation of Human Rights, said she had gathered accounts from Tunisians and others who had left Libya, describing how property belonging to Gaddafi had been attacked and police stations set alight. "The revolt is heading to the capital," she said. She said senior figures including ambassadors and security forces, were abandoning Gaddafi. "They have jumped ship and the boat is sinking," she said.

Gaddafi is a coward. Next thing is to seize all his assets...


Gaddafi on the run: Dictator may already have fled and be on his way to Venezuela after Libyan air force attacks civilians


Libyan leader Muammar Gaddafi has fled Libya and may be heading for Venezuela, William Hague said today.

The Foreign Secretary said he had seen 'information' that suggests Gaddafi is on his way to the South American country - as Libya was up in flames amid increasingly bloody battles between protesters and security forces.

Libyan fighter jets and helicopters reportedly fired on protesters in the capital Tripoli, with indiscriminate bombing runs leaving 'many, many dead'.

Tripoli was rocked by gunfire with government buildings ablaze, amid reports of a massacre that left 60 dead in the city's Green Square.

Security forces appeared to be preparing a major assault in the capital tonight, as state TV said troops had 'stormed the hideouts of the saboteurs'.

Snipers took up positions on rooftops and jets swooped low over rooftops, apparently trying to stop more opposition activists joining those who are already overwhelming the city.

Libyan protesters celebrated in the streets of Benghazi on Monday, claiming control of the country's second largest city after bloody fighting

The second city Benghazi was also said to be 'totally out of control', with residents reporting numerous explosions and teenagers roaming the streets with assault rifles.

Even Gaddafi's own Libyan diplomats at the UN are calling for him to step down. Deputy Ambassador Ibrahim Dabbashi said that if the dictator does not relinquish power, 'the Libyan people will get rid of him'.

Libyan fighter pilots also fled to Malta after being told to fire on civilians and border guards at the boundary with Egypt have reportedly abandoned their posts.

But officials in Venezuela, where president Hugo Chavez is an ally of the Libyan dictator, denied any suggestions that Gaddafi was seeking refuge there. Information minister Andres Izarra said the reports were 'false'.

Mr Hague spoke after a meeting of EU foreign ministers on Monday which sharply condemned Libyan authorities for their crackdown against pro-democracy protesters.
'I have seen some information that suggests he is on his way there [Venezuela] at the moment,' he said.

There was talk of a takeover last year by Rio Tinto was it ?....not sure......just wondering whether with the depressed sp if that would not come back on the agenda ?....perhaps not.....

Broker note fromOriel:
Next news flow during H1: release of underground technical study, commencement of underground mining and execution of potential M&A deal following the recent fundraising. Mid 2011 commissioning of Stage 3 plant expansion to 5.0Mtpa.
Recommendation Medium term buy: Given the current political backdrop throughout the MENA countries and this isolated incident may weigh on the stock sentiment. However, in our opinion the recent pullback presents a good buying opportunity, particularly for investors with a medium term view. We value Centamin at 206p/sh based on discounted cash flows and risked based exploration upside. We reiterate our BUY recommendation.

Thanks H. Medium term will do for me. In the short term though I'm worried that either Mubarak's replacement is worse or the uncertainties of the process of transition cause more bloodshed and instability. In the medium term CEY will be a much needed income stream to Egypt and in my worse nightmare I can't imagine nationalisation will ever take place.
Still holding a core and have dipped in/out a couple of times these past weeks with smaller numbers.

The share price didn't do to bad under Mubarak, even if his people didn't.

CEY will do much better with democracy

By Thomas Biesheuvel

Feb. 22 (Bloomberg) -- Centamin Egypt Ltd., a gold company operating in the North African country, said its Sukari mine is functioning normally following a protest last week.

Sukari has been back to normal since Saturday morning, and mining and processing are continuing as normal, Bobby Morse, a London-based company spokesman, said today by phone.

Workers at the Sukari site staged a sit-in last week to demand higher pay and a change of ownership, state news service MENA reported Feb. 18. The companys shares fell the most in more than two years that day.

The stock fell 2.9 percent to 125.6 pence by the 4:30 p.m. close of London trading after rebounding 5.8 percent yesterday.

To contact the reporter on this story: Thomas Biesheuvel in London at tbiesheuvel@bloomberg.net

To contact the editor responsible for this story: Amanda Jordan at ajordan11@bloomberg.net

Last Updated: February 22, 2011 12:38 EST


http://noir.bloomberg.com/apps/news?pid=newsarchive&sid=aTk6iIAW2.Xw

Like a South African democracy with its empowerment policy and strong unions.

irlee57 ,

That's old news

Usually turmoil = gold rising sharply = good news for cey. Just topped up again.

RNS looks good.

It's at bargain price now.

.

Indeed...very good update.....should be 30p higher at least !.