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.

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

and sell darn quick!!!!!

missed the low but hey ho

quick

made a bt lol cant be bothered roll on rrl rmp etc

Broker recommendations since beginning of August make for good reading....

Centamin Egypt Ltd

FORECASTS 2011 2012
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Evolution Securities Ltd
08-08-11 ADD 144.98 12.78 137.94 11.73
Westhouse Securities
04-08-11 BUY 11.60 13.80
Numis Securities Ltd
03-08-11 BUY 107.38 9.82 125.79 11.66
Broker Name Withheld 3
02-08-11 BUY 89.80 8.24 111.94 10.21


Hemscott Premium.

Reflecting the continuing strength of gold which traded at a record $1,791 an ounce, Randgold Resources surged 265p to 6387.5p. Broker Investec suggests Randgold could launch an opportunistic offer for Centamin Egypt, 1.9p better at 104.05p.
Analysts reckon a bid for Centamin would be accretive on all measures. The enlarged company would be significantly larger, producing 46 per cent more gold.


Read more: http://www.thisismoney.co.uk/money/markets/article-2024497/MARKET-REPORT-Hunters-prowl-takeover-jungle.html#ixzz1Uhixx3LS

As Chavez Pulls Venezuela's Gold From JP Morgan, Is The Great Scramble For Physical Starting?
Submitted by Tyler Durden on 08/17/2011 16:27 -0400




In addition to the nationalization of his gold insutry, Chavez earlier also announced that he would recover virtually all gold that Venezuela hold abroad, starting with 99 tons of gold at the Bank of England. As the WSJ reported earlier, "The Bank of England recently received a request from the Venezuelan government about transferring the 99 tons of gold Venezuela holds in the bank back to Venezuela, said a person familiar with the matter. A spokesman from the Bank of England declined to comment whether Venezuela had any gold on deposit at the bank." That's great, but not really a gamechanger. After all the BOE should have said gold. What could well be a gamechanger is that according to an update from Bloomberg, Venezuela has gold with, you guessed it, JP Morgan, Barclays, and Bank Of Nova Scotia. As most know, JPM is one of the 5 vault banks. The fun begins if Chavez demands physical delivery of more than 10.6 tons of physical because as today's CME update of metal depository statistics, JPM only has 338,303 ounces of registered gold in storage. Or roughly 10.6 tons. A modest deposit of this size would cause some serious white hair at JPM as the bank scrambles to find the replacement gold, which has already been pledged about 100 times across the various paper markets. Keep an eye on gold in the illiquid after hour market. The overdue scramble for delivery may be about to begin.

From the CME:

Appointment of Joint Broker


Centamin is pleased to announce that it has appointed RBC Capital Markets as joint broker to the Company with immediate effect.