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.

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.

StockMarketWire.com
Centamin Egypt's pre-tax profits jumped to $104.3m in the six months to the end of June - up from $32.0m a year ago.

Revenues increased to $167.4m - up from $87.2m last time.

The group sold 113,502 ounces of gold in the period at an average price of $1,467 per oz compared with 66,378 oz at $1,308 per oz a year ago.

What might that have been(production/revenue)but for the following?

From Q2 RNS.

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.

..but the gold not mined/sold is now worth more :-)

That's true only if the gold price stays at these historicly high lrvels,which i dought?
Once the gold price settles down the market will see that the trend is up and will then revalue mining stock.

.

kernow - but not as much as it was last week! :-)

Catherine Raw, the co-manager of BlackRock's World Mining fund, said recent periods of risk aversion from shares had been acting as a drag on gold-mining equities.

"Interest in gold shares has been growing in the wake of the financial crisis, with mining shares doing better in Asia," she said. "This shows the disconnect between how the West looks at the market and how the rest of the world does."

Many believe that gold shares offer better value than bullion itself. Gold equity valuations are in historically low ranges but earnings growth on the back of higher gold prices and rising dividends could be the catalysts to send the share prices of these companies higher.

If so, the current weakness in gold-related shares represents a smart money-making "arbitrage" opportunity.

CEY

Good to see short positions dropping very fastly...........

CEY

Good to see short positions dropping very fastly...........

HGM

Shorters virtually nil now, nice.

Can't be far away from elections in Egypt? Once that issue is settled (to the satisfaction of all) then CEY should see an almighty bounce, imo.