print logo

Return of Street Fighting in Cairo Has Centamin Egypt Falling Again; Shares Now 24% Lower Over Past

Centamin Egypt Ltd. (CEE.TO) is resisting the market gains for most gold stocks today, falling another 5% today and sliding for a fifth day in a row.
Centamin Egypt Ltd. (CEE.TO) is resisting the market gains for most gold stocks today, falling another 5% today and sliding for a fifth day in a row.

The company, which is working the Sukari gold project in the Eastern Desert of Egypt, fell over 12% yesterday, taking a hit with Monday's downward trend for equities but also likely getting hurt by reports of street violence in Cairo over the weekend. Since last Wednesday, Centamin is now off 42 cents per share, or slightly more than 24%.

Centamin lost roughly a third of value between the start of 2011 and the end of February, tumbling from around $2.78 a share in early Janaury to a low of $1.89 on Feb. 28 -- a span that included escalating protests against long-time President Hosni Mubarak and culminating with his Feb. 11 resignation.

Read more: http://community.nasdaq.com/News/2011-11/return-of-street-fighting-in-cairo-has-centamin-egypt-falling-again-shares-now-24-lower-over-past-week.aspx?storyid=104187#ixzz1eWZE9ycg