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.

Q2 2016 Preliminary Production Results

Centamin is pleased to announce preliminary production results for the quarter ended 30 June 2016 from its Sukari Gold Mine ("Sukari") in Egypt.

Preliminary total gold production for the quarter was 140,306 ounces, a 12% increase on the previous quarter and a 30% increase on Q2 2015.

Quarterly throughput at the process plant was 2,929kt, a 2% increase on the previous quarter. Annualised throughput exceeds our base case target rate of 11 million tonnes per annum (Mtpa).

Open pit total material movement (ore + waste) decreased 1% on the previous quarter to 15,080kt. Open pit ore production increased by 42% to 3,425kt at an average mined grade of 0.90g/t of gold. The average head grade to the plant from the open pit was 0.99g/t. The run of mine ore stockpile balance increased by 521kt to 1,012kt at the end of the period.

The underground operation delivered 256kt of ore, a 9% reduction on the previous quarter, at an average mined grade of 9.3g/t. Productivity remained above our forecast rate of 1 million tonnes per annum at 6g/t. Ore from stoping was 143kt at 8.5g/t, comparable with the previous quarter (145kt at 9.2g/t). Ore from development was 113kt at 10.3g/t.

Five year high @169.00p

Jefferies International Hold 166.20 115.00 160.00 Reiterates

A new high @171.30p.

StockMarketWire.com
Centamin's gold production rose to 140,306 ounces in the second quarter - 12% up on the previous three months and 30% higher than a year ago.

EBITDA rose to US$101.6 million - up 51% on Q1 - driven by an increase in realised gold prices and gold sales volumes together with improved operational efficiencies and lower overall costs. EBITDA a year ago was $37.3m.

Pre-tax profits rose to $73.4m - up from $40.8m in the first quarter and $18.8m a year ago.

Centamin says it remains debt-free and un-hedged with cash, bullion on hand, gold sales receivable and available-for-sale financial assets of US$332.2 million at 30 June 2016, up US$56.5 million over the quarter.

Operational highlights include:
- Cash cost of production of US$461 per ounce and all-in sustaining costs (AISC) of US$669 per ounce.

- 2016 annual production guidance of between 520,000 and 540,000 (previously 470,000) ounces at a cash cost of production of between US$530 and US$550 (previously US$680) per ounce and AISC of between US$720 and US$750 (previously US$900) per ounce.

- Record process plant throughput of 2.93 million tonnes (Mt); a 2% increase on the previous quarter.

- Recovery of 89.5%, up by 1% over the first quarter, reflects on-going optimisation of the process plant.

- The underground mine delivered 256kt of ore, (a 9% decrease on Q1 2016), at a grade of 9.3g/t (up 19% on Q1 2016).

- Continued positive results from underground exploration drilling at Sukari, with an updated resource and reserve estimate scheduled during the second half of the year.

I always used to be in this one...never performed....now that I'm not ....rocketing.......

Panmure Gordon Hold 176.40 145.00 168.00 Downgrades

RBC Capital Markets Sector Performer 176.40 170.00 190.00 Reiterates

Jefferies International Hold 176.40 160.00 170.00 Reiterates

There was a floor on today movement at around 144p, after the last 3 days of sharp falls and then recovering today's drop

StockMarketWire.com
Centamin's third quarter old production totalled 148,674 ounces - a 6% increase on the previous three months and 41% higher than a year ago.

Operational highlights: - Cash cost of production of US$466 per ounce and all-in sustaining costs (AISC) of US$644 per ounce.

- Process plant throughput of 2.8 million tonnes (Mt), a 4% decrease on the previous quarter.

- Recovery of 89.7%, up by 0.2% on the second quarter, reflects on-going optimisation of the process plant.

- Sukari underground mine delivered 255kt of ore (in line with Q2 2016), at a grade of 8.97g/t (up 4% on Q2 2016). Open pit mine material movement of 16,191kt (up 7% on Q2 2016) with milled grades of 1.14g/t (up 15% on Q2 2016).

- Full year 2016 production is expected towards the upper end of guidance of between 520,000 and 540,000 ounces. Full year 2016 costs are expected towards the lower end of guidance of between US$530 and US$550 per ounce cash cost of production and between US$720 to US$750 per ounce AISC.

Financial highlights:
- EBITDA of US$122.0 million was up 20% on Q2 2016, driven by an increase in realised gold prices and gold sales volumes together with improved operational efficiencies and lower overall costs.

- Centamin remains debt-free and un-hedged with cash, bullion on hand, gold sales receivable and available-for-sale financial assets of US$416.9 million at 30 September 2016, up US$84.7 million over the quarter.

- Due to the significant cash generation from Sukari, profit sharing has commenced. The US$28.75 million advance has been recovered and a further distribution of profit share of US$6.67 million was made to EMRA in October.

- Basic earnings per share of 5.62 US cents; down 11% on Q2 2016 due to the effect of profit share during the period. Earnings per share (before profit share) of 8.11 US cents is up 29% on Q2 2016.

Chief executive Andrew Pardey said: "Centamin delivered another solid quarter from the Sukari operation, with a record of 148,674 ounces bringing year to date total production to 414,249 ounces of gold. This operational performance, together with a continuation of the low operating costs delivered in the second quarter and a further increase in realised gold prices, resulted in a strong US$85 million increase in our cash and liquid assets balance to US$417 million.

"Ore throughput rates at the processing operation were stable, consolidating the improvements delivered over previous quarters and remaining above our base case forecast rate of 11Mtpa. The open pit delivered an increase in total material movement and the underground mine continued to deliver both tonnes and grade in excess of our base case forecast.

"We therefore expect full year 2016 production towards the upper end of our guidance range and costs towards the low end of our guidance range.

"We are also pleased to announce that, as a result of the significant cash generation from Sukari, profit share commenced during the quarter and the total advance payments made to date of US$28.75 million were recovered. Future distributions will take into account ongoing cash flows, historic costs that are still to be recovered and any future capital expenditure. Subsequent to the period end a further distribution of profit share of US$6.67m was made to EMRA."

Bought some @ 117.40p

Last week large drop looks overdone and it was a capitulation, after the movement lower from around 170p. Gold slowly recovering as is the share price since last Friday.

Plenty of room to go better on the chart short term

Inflationary policies in the U.S. and China ought to stoke demand

NEWPORT BEACH, Calif. (Trader Planet) — Around this time last year I wrote “Three stocks with the most turnaround potential in 2016,” laying out my theses for beaten-down companies that would outperform the benchmark S&P 500 Index SPX, -0.18% in the subsequent 12 months.

The three stocks I discussed were: Coach COH, -2.86% Urban Outfitters URBN, -2.11% and Stillwater Mining SWC, -2.81% They’re up 21%, 42% and 99%, respectively, so far this year.

Every day I run a screen to find beleaguered stocks that I believe could outperform the market over the next 12 months. My own 20 years of trading experience tells me that buying a stock whose price has been falling is akin to “catching a falling knife,” as momentum tends to be a consistent factor that has outperformed value-based and passive strategies.

Moreover, the empirical evidence shows that negative price momentum in stocks has more persistence than positive momentum. This means a short-selling strategy based on shorting stocks that have gone down the most (hedged with a long position in the S&P 500) tend to outperform a (hedged) strategy focused on buying stocks that have gone up the most.

Such momentum biases, however, tend to last for only 12 months or so, as the empirical evidence also shows the existence of a reversal effect after three to five years. This means one could outperform the market by buying beaten-down stocks that have consistently underperformed the market over the past three to five years.

Gold-is-the-investment-with-the-biggest-turnaround-potential-in-2017-2016-12-16

trying to break 120p
as the order book is strong on the bid side

DEPTH 74 v 53

121.10p +1.30p

Emergency to secure 321 kg of gold Alsukari airport Tuesday 20 / December / 2016 -
Mohammed Nasser wrote:

Cargo Village authorities announced Airport Cairo today, Tuesday, the state of emergency to secure the unloading and transfer of 321 kilograms of raw gold mine diabetes coming from Marsa Alam to travel to Canada in the coming hours for the purification and sold on the international stock exchanges and the sharing of it.

He said official sources in the village: I arrived shipment on a private plane belonging to the company , "Alcan Air" from Marsa Alam , accompanied by five of the company "Centamin" the Australian owner of the mine diabetes , where they were unloading a shipment of gold which reached within 17 parcels and transferred to an armored car belonging to the company Amanco been developed near the port 35 amid tight security until her departure in the coming hours after obtaining the necessary approvals from the relevant authorities, especially the interests of the scales and stamp body mineral Resources Ministry of Petroleum in order to be allowed to charging for purification abroad and then sold on the international stock markets and share price , according to contract between Egypt and the company . " Centamin "which holds the Australian extract gold from the mine, which is one of the top 10 gold mines in the world.

321kg shipment today.

Total Q4 shipments so far:

321kg (20th Dec)
422kg (12th Dec)
381kg (6th Dec)
322kg (28th Nov)
269kg (21st Nov)
523kg (16h Nov)
190kg (7th Nov)
322kg (1st Nov)
404kg (25th Oct)
344kg (18th Oct)
380kg (11th Oct)
358kg (4th Oct)

Based on 90% purity, It makes that around 122.585oz. If this is correct, and we add that to 413k oz produced in the previous 3 quarters (125+140+148), that would bring the total so far to 535k oz.

Total holding for BlackRock Investment Management (UK) Limited has gone above 10%

Total holding for BlackRock, Inc. remains above 14%

Has Centamin Plc (LSE:CEY) Got Enough Cash To Cover Its Short-Term Obligations?
Asher Wright December 15, 2016

Any company, including Centamin Plc (LSE:CEY) with no debt in its capital structure, would maximize capital returns by having an optimal capital structure, which includes debt. The debt reduces the overall cost of capital for the company. Due to its tax-benefits and legally-binding nature, it always costs less than equity.

A lower cost of capital increases a company’s valuation as it is the discount rate applied on future cash flows to calculate the present value; thus, indicating higher capital returns. This is one of the reasons – given interest rates at record lows – that most companies tremendously raised debt in their capital structure over the past few years.

On the flip side, given the interest-rate hikes are a part of the economic cycle, Centamin will be in a stronger position compared to companies which would have to reduce debt due to rising interest-costs in such a scenario. While zero-debt makes the due-diligence for potential investors less nerve-racking, it poses a new question: how should they assess the financial strength of such companies? Here’s a small checklist which I believe provides a ballpark estimate of their financial health status.
See our latest analysis for CEY
Is growth fast enough to value financial flexibility over lower cost of capital?

LSE-CEY-income-statement-Thu-Dec-15-2016

Zero-debt allows substantial financial flexibility, especially for small-cap companies like CEY with its market cap of USD $1,853 Million as they have limited capability of raising large sums through capital markets. However, choosing financial flexibility over capital returns is logical only if it’s a high-growth company. Given CEY’s revenue growth stood at 24.55% over the past year, the company’s decision to choose financial flexibility compared to increasing capital returns makes sense as it may need that funding under expected circumstances or to invest in more lucrative projects to fuel growth further.

Does CEY’s cash and short-term assets cover its short-term commitments?
LSE-CEY-net-worth-Thu-Dec-15-2016

Given zero long-term debt on its balance sheet, Centamin has no solvency issues. Solvency is the company’s ability to meet its long-term obligations. But another important aspect of financial health is liquidity: the company’s ability to meet short-term obligations, which are mostly comprised of payments to suppliers, bank loans and debts due over the next twelve months. To cover them, a company must have more liquid assets than these obligations. In CEY’s case, its short-term assets of $541 Million exceed the short-term liabilities of $50 Million, indicating sound liquidity position.

Conclusion

Centamin is a fast growing company with a revenue growth of 24.55% over the past year, making financial flexibility a valuable option for the company. In addition, its current assets cover current liabilities, giving it enough liquidity to operate smoothly in the short-term. Now I recommend you check out our latest free analysis report to see what are CEY’s growth prospects and whether it could be considered an undervalued opportunity.

Total holding for BlackRock, Inc. has gone above 15%

any prediction of GOLD any reason why it should go up. moslims are now able to buy gold, BB

126p +5.40p (+4.48%)

Blackrock had RNS increasing holdings 3 days in a row

In the very short term....from The BullionDesk:
"Gold prices are consolidating, but the downward trend dominates and it is too early to say whether support is in place. Indeed with the dollar index looking strong again, gold prices may struggle on the upside.
Gold prices are consolidating either side of $1,130 per oz, but despite the significant price weakness in the fourth quarter, there seems no rush to bargain hunt and that is no doubt due the confidence being seen in other markets, especially equities."