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.

Flying the flag for the gold mining industry, Centamin Egypt (CEY) makes an appearance on the same day.

Andy Davidson, analyst at Numis, is forecasting second-quarter production of 55,000 ounces, up from 45,000 ounces in the crisis-affected first quarter.

"Improved open pit grades should help see unit cash operating costs fall to around $510 per ounce. However, despite the higher production and gold price we see lower quarter-on-quarter revenue of $86 million (c52.3 million). The key uncertainty on future production and unit costs relates to the expected output from the new underground mine. We will be looking for further guidance on this front as promised for mid-year," he said.

Seems their's a BOILER ROOM SCAM doing the rounds using CEY as bait,take care.

CENTAMIN EGYPT LIMITED QUARTERLY REPORT FOR THE THREE MONTHS ENDED 30 JUNE 2011

Centamin Egypt Limited is pleased to announce its quarterly update. To see a full copy of the report please go to http://www.rns-pdf.londonstockexchange.com/rns/5463L_-2011-8-2.pdf

HIGHLIGHTS
Operations

v Quarterly gold production of 47,991 ounces was achieved from the Sukari Gold Mine.

v Cash operating cost averaged US$606 per ounce for the quarter.

v Average gold sales price received was US$1,545 per ounce.

v Reduced blasting activities due to irregular issues of blast products by Blast Inspectors negatively impacted open pit and underground production, and as a result, gold production. The Company is confident issuing practices will return to normal in Q3.

v As a result of the reduced blasting in Q2, the Company has been unable to recover as initially expected from the supply interruptions in Q1. With the expectation of blasting activities returning to previous levels in Q3, the Company has revised its guidance to 200-210,000 ounces for 2011 at a cash cost of approximately $550 per ounce.

v The underground operation commenced Commercial Production during the quarter with a total of 43kt @ 12.5 g/t being extracted.

v Maiden grade controlled underground ore reserve of 126,000t @ 11.9 g/t with definition drilling ongoing.

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Minus 20p......ouch......

Yes - ouch indeed!

Strange though that when good news appears, the sp barely moves as the news is ' already in the price'. When bad news hits the presses, the sp tanks regardless. Surely the decline from 180/190 over the last 10 months has factored in the trouble and subsequent decline in production?

Glad I switched over to HGM, but that's not doing fantastic either....and POG have taken a knock as well....awful market conditions....

that's awful ..... i haven't held these for a while but watch consistently ..... i saw the headline and thought they were going to rocket

Topped up at 115p,over-reaction by market imho?

This is a good opportunity to buy in.

i would tend to agree except the markets at the moment are looking gloomy indeed ..... specifically for CEY, there are still the elections to come and there is a fear that Muslim Brothethood (strongly fundamentalist) will gain more than a toehold ..... imo, it will not make much difference to CEY itself, though there may be some shift of m/e dynamics in general

Looks like i was a bit premature(once again,lol, offering 2.5p less.doh)

Centamin Egypt Limited will host a conference call on Tuesday, 02 August 2011 at 11:00am (London, UK time) to update investors and analysts on its quarterly results.

A live audio webcast of the call will be available on: http://mediaserve.buchanan.uk.com/2011/centamin020811/registration.asp

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Seem's the trouble they are having getting explosives for blasting is why the price as dropped.

Chart not much help for support level.

Chickens are running headless now... lol.

Down 20%...

It's ridiculous to sell now for the sheer drop, people panic and sell without thinking.
It's the time to buy... bought some at 106p