Secondary Recommendation

Centamin Egypt - Removal of political uncertainty should herald re-rating

October 2012

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.

With the Federal Reserve announcing its most aggressive stimulus yet, including an open-ended promise to keep printing money until the US unemployment rate drops to an as yet unspecified target, it's hardly a surprise to find the gold price rallying strongly. One gold miner showing a resurgence is Centamin Egypt, which is finally drawing a line under 18 months of political turmoil. The keynote is that Centamin is in the middle of a major expansion program, which will more than double its output and with President Morsi starting to establish himself the re-rating looks set to continue. Centamin came to prominence following the acquisition of an unlisted Australian firm in 1999, which brought in a licence to a vast 160 sq km ar ...

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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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