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Central and Eastern Europe Fund Inc T.CEE


Primary Symbol: CEE

The Central and Eastern Europe Fund, Inc. (the fund) is a non-diversified, closed-end management investment company. The Fund seeks long-term capital appreciation through investment in equity or equity-linked securities of issuers domiciled in Central and Eastern Europe. Under normal circumstances, the Fund invests at least 80% of its net assets (plus borrowings used for investment purposes) in securities of issuers domiciled in Central and Eastern Europe. The Fund invests in a range of sectors, such as banks; diversified telecommunication services; electric utilities; food and staples retailing; metals and mining; oil, gas, and consumable fuels; wireless telecommunication services; insurance; media; airlines, chemicals, and pharmaceuticals; entertainment; interactive media and services, information technology (IT) services; insurance, and textiles, apparel, beverages, and luxury goods. DWS International GmbH is the investment advisor of the Fund.


NYSE:CEE - Post by User

Post by shiftmanon Dec 17, 2012 9:27pm
140 Views
Post# 20742933

license

license

Exploitation lease was deemed invalid, Centamin will resolve the matter through an appeals process.

So the company is stating no problem we are operating without an exploitation license, we will resolve this in the courts,  we will resume operations when we have fuel and the gold sales finalize.

the new government is stating we want more of the profits for the Egyption people.

Egyption lower court ruled the license was void,futher decision to renew a 30 year extension is void.

the IMF state no loan Egypt is not stable.

it sounds like the new government want to either take the mine over mine it themselves or they want a new agreement with better terms.

On the other hand Egypt is hard up for cash its contingency fund barely holds enough for 3 months imports.

bottom line the nmine is set to produce a healthy profit 2013 2014 which the new Government could be looking to cash in on.

 

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