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.

When Sept comes, CEY would not remain at this price.

I agree, but that assumes the elections go smoothly, with an acceptable outcome and the new political leaders don't then decide to change the tax structure or contract details. Don't forget that the government own 50% of the controlling company.

That's the point. They wouldn't want a company partly owned by them going down the drain.

no but they might think it was an ideal time to own 50%

sorry the other 50%

They can't just confiscate the other 50%.

It's not law of the jungle.

A glass half full or half empty......it's now on the rise that's all that matters.

hlyeo, I can think of a number of regimes that have been overthrown and the new government revoke the licences pending renegotiation. Not happened yet in the developed countries as far as I know, but never say never....!
Something, for sure, is depressing the CEY sp and it's not the price of gold, so if you don't like the 'political uncertainty' theory, what's your diagnosis?

Sharp rebound overdue here.......price of gold holding holding up well.....

Starting to rise....go baby go....

Are you still in bed rf? ;o)

No.....but only just....

lol....at his age????

Hoping for a serious rise here.....

your getting one from harry and me.,.

Can you keep that sort of thing private Bb. lol

Sp seems to have settled around this level, so hopefully recovery on the way in a couple of months after elections.

Sheba has reached agreement with Centamin on the terms of a recommended offer.

Centamin will purchase the entire issued and to be issued share capital of Sheba.

The Offer values Sheba at approximately 7.48m. (on a fully diluted basis), or 6.15p per Sheba Share, which represents a premium of approximately 124% to the closing price of Sheba Shares on 8 July 2011, being 2.75p.

A little bit more info on Sheba:

StockMarketWire.com
Centamin Egypt is making a recommended 7.48m offer for Sheba Exploration (UK).

PLUS-quoted Sheba operates through its sole subsidiary, Sheba Exploration Limited, in Ethiopia.

Sheba owns and operates three gold and base metal exploration licences in the regional state of Tigray, in northern Ethiopia.

It is Centamin's stated strategy to grow its portfolio of assets beyond its Sukari gold project in Egypt.

Sheba's licences lie within the Arabian Nubian Shield which hosts not only Centamin's 14.5 million ounce resource at Sukari, but other significant gold and copper deposits.

The recommended offer comprises a cash payment of 3.0p and the number of ordinary shares in the capital of Centamin equal to the number of Sheba shares held by the Sheba shareholder divided by 40.

The offer values Sheba at approximately 7.48m on a fully diluted basis, or 6.15p per share, which represents a premium of approximately 124% to the closing price on 8 July.

I hold both