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.

currently level of +/-60p is the lowest sp has been for quite a while (see chart below) ..... i'm not entirely convinced (MJ might care to comment), but a short even from this low level may have some legs

CEY definitely a short with such a leader in power

in fact have put in an order to short, but not yet filled at the level i want

Egypt's benchmark stock index plunged by nearly 10 percent Sunday in the first trading session since the country's Islamist president issued decrees to assume sweeping new powers, while police in central Cairo fired tear gas at protesters who accuse the Egyptian leader of a blatant power grab.

President Mohammed Morsi's edicts, which were announced on Thursday, place him above oversight of any kind, including that of the courts. The move has thrown Egypt's already troubled transition to democracy into further turmoil, sparking angry protests across the country to demand the decrees be immediately rescinded.

The judiciary, which was the main target of Morsi's edicts, has pushed back. Judges and prosecutors stayed away from several courts in Cairo and across much of the country.

The nation's highest judicial body called on judges and prosecutors to return to work and announced that its members would meet with Morsi on Monday to try to persuade him to restrict immunity to major state decisions like declaring war or martial law.

With the opening bell of the country's stock market on Sunday, the first day of the workweek in Egypt, the turmoil spread from the country's bitter politics to its already ailing economy. The Egyptian Exchange's EGX30 index dropped 9.59 percentage points, making the losses among the biggest since the turbulent days and weeks immediately after the ouster in a popular uprising of authoritarian leader Hosni Mubarak last year.

The loss in the value of shares was estimated at close to $5 billion.

I have recent low as 41p , although the chart indicates otherwise.

the chart shows closing prices

.

Thanks.

Cynic - Each man to his own, but I would not short CEY.
Good production figures etc.
Political high risks and uncertainties with Arab mentalities -
( what is in it for me )
Coming up to Xmas stock markets
I personally find shorting is very risky and only do it with large
well established UK Companies at the top of market momentum
Bob

my short order got filled, but it isn't huge ..... given the general market strength, it may not have been the wisest, and if so, i may cut it for a small loss

http://www.telegraph.co.uk/finance/markets/9704068/Centamin-falls-on-working-capital-concerns.html

We are in profit, cynic.

we is indeed :-)

Cynic - have u bought back yet ?

Maybe you still have good luck in your veins, after a couple of years
of stock market hell ? Well done so far - Bob

not yet, but shan't be greedy

May god be with you -

back out at 57 ...... a mini profit but better than nowt

This economic down turn has had a big effect on me.

As I sit on my balcony in Benidorm overlooking the sea,
it is a bit cold this morning - too cold to go nude sunbathing again today
I think I better keep my pants on !!

Plus the whole place is not what it used to be
there is not a prostitute on the streets yet and it is already 9. 21 am !!

I may stay in today and see if I can make or loose a few thousand on the
stock markets - the sun has just come out - maybe I'll go for a coffee
I wonder how cold the weather is today in the UK - poor sods

Shares yo ask ?
Man Group may double if they have a quarter when FUM is positive

Wonder how Cynic is doing with his bike ? Hope he makes good money out of CEY.

cynic and his bike are currently "resting", but next year's trip is in the embryo stage .... we'll probably base ourselves at vichy as clermont looks a bit brutal as a base

the brotherhood have spoken today for change and want to return to
the koran laws this is bad news . EGYPT IS NOW OVER FOR TOURIST
IT WILL BE VERY RISKY PLACE TO GO
insurane will be very dea
EGYPT IS NOW BEST AVOIDED FOR ALL THINKS

WESTERN PEOPLE ARE NOT WANTED