18/2/2011

Bought 6448 Centamin at £1.21

Centamin is currently the biggest mover on the stock exchange.

21/02/2011 - 9.59am

Holding my position. Price: £1.2890 - £420 potential profit.

The reported miner strike at their Egyptian Gold Mine was over exaggerated. The market reacted with a 13% drop in share price from £1.40 to £1.20. Further news of what happened revealed the situation was not as serious as thought.

Centamin have confirmed the situation has not impacted their Gold Mining operations in the slightest.

Will wait until the price recovers and close my position.

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.

Happy New Year and Blog Statistics

We all love statistics, well I do. So here is some self-indulgence.

Our Law in Action's page views for the month of December 2010:

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Looks like you readers are enjoying the regular postings

Here are our global audience figures (for the period May 2010- January 2011)

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I look forward to posting on a broader range of legal issues as well as some discussions on trading in 2011-2012.