CEE at Minesite's Oct Forum...Here's a nice bit of news for everyone to read! Got this off wii CEY BB...
Have a great day;
Bag Of Gold
The Capacity Crowd At Minesite’s October Forum Showed Plenty Of Appetite For Mining Investment Opportunities
By Alastair Ford
What a time for Centamin Egypt to be putting a 13 million ounce goldproject into production! With gold pushing on towards the US$1,100mark, it was no surprise that Centamin’s Josef El-Raghy was a big drawat Minesite’s October forum, helping to bring in yet another capacitycrowd. Production at Centamin’s company’s Sukari project commenced inJune of this year, and is ramping up rapidly. London’s investmentcommunity liked that story so much that it was standing room only atthe back as Josef spoke, and at one stage there was even someonescrambling about on the roof, although whether it was someonedesperately trying to get in to hear the story, or out to place a buyorder, wasn’t clear. “We should exit this year with a production rateof 200,000 ounces per year”, Josef told our audience a short way intohis polished presentation. And, he added, by the time undergrounddevelopment work at Sukari is complete in 2012, the production rateshould have risen to around 500,000 ounces. Not small beer at all, andin light of that some corporate adjustments have become necessary – thecompany will move up from Aim to the full list in London, and theAussie listing will be scrapped, although the Canadian listing will beretained.
These moves really mark the final stages in the transformation ofCentamin from an Aussie junior with an unfeasibly good project into aworld class gold mining company. Somebody somewhere will surely now bebeginning to run the rule over Sukari and Centamin with a view tomaking a bid. That was an eventuality only briefly alluded to by Josef,however, as his focus remains on mining what he emphasized are “veryprofitable ounces”, and on delivering up new ones. He’s got no debt,and no hedging...