Centamin (#CEY) - pays interim dividend of $0.97, up $0.1
- 2015-08-11 23:07:52
UK 21:40 Wednesday, 23 September 2026
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Strange, is probably the best description of the recent price action that Centamin has served up on its daily chart. This point is underlined by the way that since the start of the year we have seen the stock whipsaw either side of the time of 200 day moving average currently around the 60p mark.
John Meyer of SP Angel this morning comments on Centamin, Caledonia Mining, Metminco, Horizonte Minerals & Kirkland Gold as well as offering a detailed macro view on the news that is shaping global mining and the AIM mining pond.
Gold producers are well worth a look for anyone who is bullish on the metal itself, and offer some degree of leveraged play. One which would definitely be on my list to have a look at is Centamin Egypt (CEY) which is currently trading around 54p, and with a market cap of £620 million.
Despite being “pleased to announce preliminary production results from its Sukari gold mine in Egypt for the quarter ended 31 March 2014”, shares in Centamin (CEY) have currently slipped to below 53p on the day. The following reviews why.
It has been easy to sound like a broken record regarding the technical prospects for Centamin (CEY). So here I go again: the shares are still a buy.
The problem as far as shares of Centamin (CEY) are concerned is that even at the best of times we are looking at a situation where the price action is extremely volatile and spiky.
Centamin shares have provided entertainment all kinds to traders over recent months, although to be fair it can be said that given the horrific price action as far as the underlying metal is concerned we have not been treated to as bad a ride as one might have expected. That said, the current situation is pivotal given the way that the floor of a rising trend channel from March this year is now in play.
It would appear that in the recent past shares of Centamin (CEY) have been as disappointing as the position of the underlying metal it mines, gold. That said, given the trouble and strife in the miner’s adoptive home in Egypt it can be argued that the rebound from well below 30p at the height of the crisis to even 45p plus currently is something of an achievement.
Centamin (CEY) is a stock that holds a special place for many private investors in the sense that almost all of them claim to have had the good fortune of being lined up for the shares from well below the current 50p zone. Well here is some good news for you all.
Centamin (CEY) has announced its preliminary production figures from its Sukari Gold Mine in Egypt for the quarter ended 30 September 2013. Total gold production for the quarter was 84,757oz. The mine also reported its highest quarterly underground tonnes mined at 152kt and tonnes processed through the mill at 1,463kt. Broker Fox Davies reacted positively. It writes:
You rather lose track of what is going on in Egypt. The gang rapes, the riots, demonstrations, the shooting of 72 folk on Saturday, boys being hurled from rooftops. It is all a blur of horror – the sort of place I’d be advising the Sefton Resources (SER) board to spend their summer holidays. But to recap:
Centamin (CEY), the gold miner operating in the delightful peaceful paradise on earth that is Egypt has today announced Q2 production numbers. As a bear of this stock since last summer when Egypt headed down the Islamofascist route it would be churlish of me not to admit that the numbers are not excellent. They are superb. But with respect that is not the point.
If a company has major news it should treat all investors the same and issue an RNS. And with that in mind what the hell is Centamin (CEY) playing at? Telling a newswire journalist material information so that City investors are up to speed but mug punters without an access to a Reuters terminal are kept in the dark shows a shocking contempt for private investors.
The time has come to ask if Centamin has finally done enough to build a base in the mid 30p’s, Nighthawk is ready to break out of its near term flag, and has its CEO finally scuppered the share price of Iofina?
Fully listed gold miner Centamin (CEY) has announced its results from its Sukari Gold Mine in Egypt for the quarter ended 31 March 2013.
What Bulls of Centamin have failed to appreciate in recent months is that rather than rejoicing that the Sukari mine/gold production was at record levels, realise that the more wealth the group creates, the greater the attraction it is for the Egyptian authorities to grab the goose laying the golden eggs.
