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.

Centamin plc ("Centamin" or "the Company") (LSE: CEY, TSX: CEE) is pleased to announce its results for the three months to 31 December 2011.

HIGHLIGHTS
· Q4 gold production of 58,965 ounces from the Sukari Gold Mine, 10% higher than the corresponding quarter in 2010 and 17% higher than the previous quarter
· Cash operating costs of US$473 per ounce, 4% lower than the corresponding quarter in 2010 (US$498/oz) and 26% lower than the previous quarter (US$635/oz)
· Average gold sales price received of US$1,671 per ounce
· Record processing plant throughput of 1,066kt, 38% higher than the corresponding quarter in 2010 and 11% higher than Q3 2011, as the ramp up to higher production rates continued post-Stage 3 (5Mtpa) commissioning
· Stage 4 (10Mtpa plant) expansion remains on schedule for commissioning in Q1 2013 with expenditure to date of US$52.6 million
· Operating profit of US$37.5 million, 103% higher than the corresponding quarter in 2010 (US$18.4 million)
· Cash and liquid assets of US$200 million as at 31 December 2011. Centamin remains debt-free and unhedged
· Total reserves increased by 1 million ounces to 10.1 million ounces, comprising 9.5 million ounces from the open pit and 600,000 ounces from the underground
· 2011 gold production of 202,698 ounces at a cash cost of US$556 per ounce, an increase of 35% on 2010 gold production (150,289 ounces)
· 2012 production is expected to be 250,000 ounces with average cash costs of approximately US$550 per ounce

http://www.moneyam.com/action/news/showArticle?id=4299063

Congratulations to all the management and others on showing once again a master class in running a successful Gold mining company.

ditto that aldwickk

Shame the market can't share your merited praise.

looking for 150p by aug

Replacement - Results for Quarter Ended 31 Dec 11

Stop to entry for risk free trade.

Looks like violence and multiple deaths at a football match yesterday in Cairo may have been politically motivated by Mubarak supporters. Now worries of reprisals from other ethnic groups and an escalation of violence in Egypt.

Harry - I thought that may have affected the share price here first thing - apparently not!

I don't think so , Harry have you gone short on CEY ?

No. I only trade equities, but am holding at a small loss atm. But if violence escalates, this will only play into the hands of the MBH, assuming it wasn't them who instigated the violence in the first place. Political instability is not good for the CEY sp, imo.

and who actually says it was politically motivated in the first place? ..... market doesn't seem to care either way

cynic are you suggesting Egypt can remain stable with the Muslim Brotherhood running the government and the military not prepared to give up power..... what did Mao say "power comes from the barrel of a gun"?

.

i am not suggesting anything, and so long as i can turn a (dis)honest shekel or two, i am not fussed either way

Heck an honest cynic........steady boy.,.

So, you don't care what happens in Egypt, Cynic, so long as you make money??? Sounds a tad callous, even for a cynic!

so now tell me why you buy shares? ..... do you also only buy into "ethically sound companies" or do you check out where they work and deal before buying? ..... if you hold say NEXT, do you check what they pay their bangladeshi factory workers? ..... if not, please tell me the difference

I buy & sell shares to make money to try and keep me in the lifestyle I have become accustomed, or better, but that doesn't give me license to be amoral about what happens in the world! I care... I may not be able to do anything about many of the conflicts in the world, but I am comfortable knowing that I care, at least. Probably does b*gger all to change anything, but I like to sleep at night, wrapped up in my own double standards!.........Plus, my neighbour is egyptian, so I have to keep abreast of events to be able to chat sympathetically over the fence!

glad to see you are really no different from me then :-)