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.

The gold price is to do with the dire market conditionsimo and a lack of confidence,hence the poor SP performence. Yesterdays trading in CEY is a warning
that the market will NOT TOLERATE any iffy news , sheer panic set in.

CEY seem to have unduly delayed reporting the blasting inspectors delay. I thought a material impact like that required prompt market update.

Not my bold!

We have a World class Gold mine with a massive amount more to be mined , its just a matter of staying calm and avoiding any knee jerk reaction's.

Mubarak's (and others) trial starts today. May herald the end of a troublesome era.

Bold Off :-) or maybe not!

Totally agree,this has 2+ written all over it. Present SP the result of panic selling in theis dreadful market? which will present some excellent buying opportuenties imho?
For me a requirement is to purchase producers and a some worth checking out are AYM(via LIM),WTI,GFM and PTR,these are non PM stock,which are ready to respond to the Assian demand.
aimho

Cyril - you need to turn bold off after your "iffy news" text in post 951.

Most of the sell's now seem to be small retail trade's

i don't think there's much buying enthusiasm for anything other than sick bags

SHARES today, CEY in 'The Rumour Mill'........bid chat.......it is a high-risk proposition but market talk suggests miners are already running the numbers on CEY. BUY at 105.8p

This comes from Dan Chatsworth who has given me many good leads!

CEY is 50% state owned. How can a bid happen, particularly at the moment with a military caretaker government?

CEY is not 50% owned by the goverment

The Sukari Mining Licence covers an area of 160 km2 and is for a period of 30 years, with an option for a further 30 years. The Sukari Gold Project has been scheduled for open pit mining over an initial 15-year period. During that time 78 Mt ore @1.5 g/t Au is expected to be mined,

aldwickk:
"Centamin owns half of the operating company, the rest is owned by the government therefore they share equally the net profits from the mine.The government has the right to take back the project in the event of national emergency, due to war or imminent expectation of war or internal causes. Centamin says it does not foresee this happening and that it has not seen to date any material adverse effect to the Sukari operation arising from current events in Egypt. Centamin has to pay 3% royalty on sales revenue but pays no other tax. Goldman Sachs reckons the result of the profit sharing and royalty means that Centamin effectively pays 38% corporate tax rate. From 2014 this will be around 48% of net cashflow. Payments to the government start after full capital expenditure recovery. Analysts reckon this will start in 2014. The concession agreement will be renegotiated in 2025."

Not quite sure where chart support is. Somewhere around 80p possibly?

Not sure I know anything anymore. The mix is just too complicated - financial turmoil should be good for gold but anything risky is being dumped. CEY is certainly in that category reinforced by hiding bad news for too long. Eygypt seems more unstable than ever - fundamentally the army still rules and still will even when/after a new notional democracy emerges. Sending foreign capatalists packing could be a popular move.
This share is in my too difficult for now tray which means I'll sit on my hands and grow poorer by the day.

With the Army in control CEY should be safe , its if some Weston hating Muslim's get control.

With the Army in control CEY should be safe , its if some Weston hating Muslim's get control.

http://www.telegraph.co.uk/finance/markets/questor/8683684/Questor-plus-Going-for-gold.html

gey only for the brave

i am in at 94

sorry cey