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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Secondary Recommendation

Centamin Egypt - On track to become 500k oz gold producer

November 2010

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • CEY
  • Price:
  • 179p
One effect of the rising gold price has been a sharp upward reappraisal of mining firms'  reserves on the basis that higher prices make it economic to extract even the lower, more marginal grades. One such beneficiary has been FTSE-250 constituent Centamin Egypt, which on 15 September announced a 28% increase in proven and probable reserves to 9.1m oz at an average grade of 1.15g/t after re-optimising its calculations to use a long term price of US$900 / oz. On top of that it also holds a further 5m oz of resources, which at a later date could also be upgraded and is one of several reasons why the shares have been chased to new highs.Centamin's big break came in 1995 when it was granted a 160 sq km exploitation lease over the ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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