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.

Imo, CEY isn't as independent as one originally thought. If the government wanted to take complete control, they would have little problem, which puts a bit of a damper on the growth potential. Coupled with the imminent 48% tax to be levied on net cashflow, the reward v the risk seems less appealing to me.

..and maybe Tanker had a point a couple of weeks back re. takeover by a new regime. Bless.
However as long as gold rides high I'm still in.

CEY Director BUY..............http://moneyam.uk-wire.com/cgi-bin/articles/201103160722200355D.html

i don't think is the time to be piling in here ..... also note the consistent resistance at 25 dma

some of us are already here:(( 168p thought that was a good entry at that time.,.

Don't worry BB. You're not alone!

What is far more worrying are the underlying market conditions. With few exceptions, what does go up seems to retreat very quickly. Perhaps it will sort itself out in due course but at the moment I am extremely worried about the health of the SM/economy.

Director Buys.....

Director Deals - Centamin Egypt (CEY)
BFN
Mark Arnesen, Non Executive Director, bought 15,000 shares in the company on the 21st March 2011 at a price of 128.77p. The Director now holds 15,000 shares representing 0.00% of the shares in issue.

Story provided by StockMarketWire.com
Director deals data provided by www.directorsholdings.com

a peanut director buy is totally unimportant ..... my own concern is that the 25 dma proves to be a support rather than a resistance as has been the case for the last few months - sp therefore needs to start heading north pronto

Maiden purchase though , cyners.

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Lets hopethis applies to CEY? TSX was positive up 6.22% to C $2.22 making 142p.

http://www.bloomberg.com/news/2011-03-27/dubai-shares-advance-to-0ne-month-high-on-saudi-housing-egyptian-rally.html

Interesting that CEY hasn't recovered more than it has now that things seem to have settled down in Egypt. Presumably, 180p+ won't happen until the elections in the autumn and the threat of nationalisation/licence reviews has passed. Shame that CEY is only a one mine company. If they had interests elsewhere they would at least spread the risk a little. Can't decide whether to buy some for medium term recovery or to just watch.

just bouncing off 50 dma so arguably not a bad entry point ..... don't forget this is the last trading day of fiscal year, so quite a lot of book squaring and similar

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All this time and i've never read your name backwards hermanm lol cynics a clever bu**er at times.,.

see, i'm not just a pretty face!

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did you kill him, or only metaphorically? ..... your husband, not the pussy!

Don't blame her for not answering that one.....could incinerate her!!!

Anyone know why CEY is rising today?