RE: RE: RE: i think this strike will last very lonWell said reefy1.
This is just a moment in time and will soon pass.
I'm sure a lot of the selling was reactionary, but I wonder how many lost their shares due to stop losses? Price seems to be range bound at around $2.00 for now. A bad day for short term holders, but I'm sure long term holders will be ok.
IIRC it was William randolf Hearst that said "if you control the media, you control everything".
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This is all attributed to the politicalsituation in Egypt. People overthrew a gov. to take their country back.Now they want to take control of private companies too. The gov. hassaid nothing of taking over. don't let these 250 people rule yourinvestment decision.
Smarter head will prevail...believe me. therevolution was started because people wanted better economic conditionsfor them and the country. though the company may have to pay some extra$$ for compensation, if they are forced out of egypt you can bet that noother company (mining or not) will not enter egypt for a very longtime. And then how in the world with egyptians get better economicconditions.
the people demanding that centamin leave are simple mineworkers. They no little about running a company and world economicimpacts. they are coming off a high from mubarak leaving. These 250workers do not rule the country. they are poor workers and uneducated. Iam from Egypt and trust me when i say this.
the new gov. will haveto realize that you cannot kick out a company...that is bad ofr businessand believe me that is not what the egyptian populations wants. thiscountry of young individuals understands technology and is energized bythe standard of life of other countries.
why is there is big dump in price...well because people just don't want to stick around to see how this plays out...
I am sticking aorund. i was there when the company dipped to 50 cents a couple years ago...and not going anywhere now.
thisis what the workers want...to force the company to its knees. believeme.. a few extra $$$ will go a long way for these workers. and when imean a few and really meant it. doctors in egypt make about 100$ amonth. it won't take that much in concesions to get things back on trackand this talk of nationalisation will go away.