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Centamin – Market Update Does Not sound Good say two brokers and me

Tom Winnifrith Monday 26 November 2012

 

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Fully listed Egyptian gold miner Centamin (CEY) has today provided a market update on its various woes and at two levels it does not sound good at all. And it is not just me saying this, it seems that some brokers agree. To hoots of Bulletin Board derision I warned folks repeatedly ( when the shares were much higher than today’s 60.2p) that Centamin was a sell. That was not because I dislike the company or have a grudge. This was a stock that I tipped on t1ps.com at 8p but told readers to sell at 134p. It is because life in Egypt has changed irrevocably and for the worse since its revolution. Those who have fallen in love with the stock seem to forget that.

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Tom Winnifrith is the editor of TomWinnifrith.com. When he is not harvesting olives in Greece, he is (planning to) raise goats in Wales.
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