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.

Just gone long here.

RNS Number : 5674E

Centamin Egypt Limited

08 April 2011


Immediate Release 8 April 2011

Centamin Egypt Limited ("Centamin" or "the Company")

(LSE:CEY, TSX:CEE)

ANALYST SITE VISIT TO SUKARI

Centamin is currently hosting a site visit to its Sukari Gold Project in the eastern desert of Egypt for equity analysts and investors. A presentation will be given by the management team on Friday, 08 April 2011 and it is available on the Centamin website (www.centamin.com) and through the following URL:

http://www.centamin.com/wp-content/uploads/2011/April2011.pdf

Broker upgrade CEY..Centamin Egypt Ltd FTSE 250 Basic Materials Buy 177p 148.8p 19.0% Citi Target SP 177p 19% upside.

NUMIS...

Centamin (Buy 2.20). Q1 operations update. Production 45,204oz was well below our expected 57,000oz and annual production now guided to "towards the lower end" of the previous 250-290,000oz range. The production shortfall arose from delays in delivery of blasting accessory equipment and a consequent delay in mining high grade sections. Bearing in mind all that went on in Egypt we think they did pretty well. The supply interruptions are now resolved and company is looking to full capacity during April. The plant itself appears to have put in a full quarter at design capacity, which we see as a strong positive. Although we are likely to downgrade our 2011 forecast to a conservative 240koz (was 275,000oz) and, as a consequence, increase cash costs $480/oz (from $420), the effect on our target price is likely to be immaterial. No change to our view that, with shares trading at around 1x NAV, there is good value against our 1.5x NAV target. CEY remains a key pick out of our mid-tier gold stock coverage.
* Vedanta (N/C). Q4 and FY production report. Record production and sales across most of the board. Zinc-India produced 840kt for the FY, 9% higher due to Rampura Agucha and Sindesar Khurd mines. Refined zinc production up 23% Y-o-Y at 712kt. Start up of the lead smelter at Dariba and SK mine expected to boost rather flat silver and lead production. Skorpian Zinc acquisition now added to the stable. Iron ore the disappointment with production and sales marginally lower due to the Karnataka state export ban, which is to be lifted shortly. Expansion programme on track for end of FY12-13. Copper cathode production in India was 9% lower, affected by ongoing high court order. Copper cathode production in Zambia up 9% at 217kt and ramp up of Konkola Deeps and Nchanga smelter progressing well. Ally up 20% at 641kt and power sales up strongly at 3,279M units due to Jharasuguda and expected to increase further. All in all pretty positive stuff and should be received well.
* Vallar (N/C). Closing of Berau transaction and completion of acquisition announced in Nov 2010 to create "Indonesian coal champion". To be re-named Bumi plc and move to a premium listing in May. According to the FT, Vallar plans to increase its stake in Bumi Resources to 51%, from 25%, giving it control over the Kaltim Prima mine, the worlds largest power station-coal mine.
* Rio Tinto (N/C) assumes control of Riversdale as its shareholding rises above 50%. A boardroom shuffle has already occurred as Riversdale agreed to add three Rio nominees to its board. With two retirees and the remaining four existing board members all recommending the takeover (including Tatas nominee), this is a fait accompli. Under Aussie rules, Rio are not obliged to launch a mandatory takeover offer to take out minority shareholders until it reaches 90% ownership.
* Equinox has rejected the C$6.3bn offer from Chinas Minmetals Resources, citing a nominal premium which was a fraction of premiums paid in recent acquisitions of base metal mining companies.
--------------------------------------------------------------------------------

next serious challenge is at 160/165 wher 200 dma lies in wait

Glad I bought in at 147p in Stock ISA. Probably waited a little too long, but the worst of the political unrest seems to be over in Egypt. Just hope the elections go without a hitch. I assume there is a little island somewhere, like Corsica, where all of the deposed heads of government are squandering their ill gotten wealth and enjoying their retirement?

Yes political situation seems to be stable and the production issues sorted,,so full steam ahead??

Questor in the Telegraph:

http://www.telegraph.co.uk/finance/markets/questor/8439999/Questor-share-tip-Negative-sentiment-on-Centamin-Egypt-has-created-a-buying-opportunity.html

http://www.iii.co.uk/tv/episode/centamin-egypt-cey-0

APMEX Wants To Buy Your U.S. Mint Products!

Dear XXXX,

Due to the recent incredible demand for Gold and Silver bullion products, APMEX would like to offer you an exclusive opportunity to LOCK IN YOUR PRICES and sell us some of your U.S. Mint collection. This is a limited time offer and it is first come, first served until we have secured enough U.S. Mint bullion products to meet our current demand!


We Want These Products:
We will pay you $38.00 over the current spot price of Gold for your Gold American Eagles. ANY year, ANY quantity!

We will pay you $3.00 over the current spot price of Silver for your Silver American Eagles. ANY year, ANY quantity!

We will pay you $1,250.00 for your 2010 America The Beautiful 5 oz. Silver coin sets.

Once we have purchased enough of these products to meet our current demand, this offer will end! YOU MUST ACT NOW!

Simply call our Purchasing Department toll free at 800.375.9006 between 7:00 a.m. and 5:00 p.m. CDT to lock in your prices right now. At APMEX, we make it easy and hassle free to buy and sell U.S. Mint bullion coins.


Respectfully,

Clint Hughes
Senior Vice President of Marketing
The American Precious Metals Exchange

Just checked their website:

http://www.apmex.com/SellToUS/Default.aspx

One of many , nothing new.

Q1 results.

HIGHLIGHTS


Operations

* Quarterly gold production of 45,204 ounces was achieved from the Sukari Gold Mine.

* Cash operating cost averaged US$525 per ounce for the quarter.

* Average gold sales price US$1,405.

* Although some key supplies suffered short term interruptions, operations were largely unaffected by the recent political events in Egypt.

* SAG mill steel liner and lifter configuration performed to design standard during the quarter, following installation in Q4 2010.

* Expected 2011 gold production guidance of an estimated 250-290,000 ounces remains intact, however, with the events that transpired during the quarter, it is prudent to guide towards the lower end of this range. Further guidance is planned for mid 2011 as more information becomes available on the timing and scale of commercial underground production rates.

Must surely be approaching a good buying opportunity {from a charting perspective?}.

results not terribly exciting considering the market cap of 1bn

Corrected!

Might be time to buy back in.....looking at the charts, hitting perhaps a low and gold is holding up well.

Skinny

Your on the wrong thread , this the CEY thread.

Going long now....as this is unhedged with capital growing...

Aldwickk - now corrected!

Thanks Skinny