Egypt, the land of the Pharaohs and Centamin Egypt Limited

Centamin's Mining Fleet (Source: Centamin.com)

Mulling over the political uncertainties of Egypt's situation I decided to invest in Centamin Egypt Limited.

Centamin claim they are not exposed to the current political crisis, but as the markets are run by confidence it now means Centamin is relatively undervalued.

10/2/11 - Bought 5698 Shares at 130p

10/2/11- 5pm - Share price has risen to 140p --> Currently making £506.02

All in a days work. I await Hosni Mubarak's speech tonight, hopefully he will resign immediately instating current Vice President Omar Suleiman, allowing for a more stable Egpyt.

Centamin Egypt Limited is a mineral exploration development and mining company dual listed on the Main Market of the London Stock Exchange (LSE:CEY) and the Toronto Stock Exchange (TSX:CEE).

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Update :

Mubarak has now left, Centamin has responded positively. Closing the position.

11/02/11 - Sold 5698 at £1.49

Total profit inclusive of Stamp Duty = £990 / 13% return on investment, over 2 days.

Hopefully Egypt will get social reforms and leadership that they need, as they did under Former President Anwar El Sadat.