If not already, add Egypt to the list of countries to avoid for public company investing. Keep an eye on Centamin (CEE.T $1.55). Typically these "rumours" lead to a giant mess for the company. Nationalization of natural resources in Egypt may not be far off.

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Centamin PLC notes media reports this morning that an Egyptian court has annulled its concession agreement to extract gold from the Sukari mine.

Comments reportedly made by an Egyptian administrative court this morning have given rise to speculation that parts of the concession agreement may have, in fact, been suspended. However at this time, no details of a final decision are available and no written judgment has been given.

Centamin confirms that it is not a party to this case, repeats its view that the concession as Law 222 of 1994 remains valid and that the court does not have jurisdiction to cancel it.

The company will inform the market further as soon as more information is available. In the meantime normal mining operations continue.