I am starting to wonder if Centamin, which trades as CEE.TO, CEY.L, and CELTF, has become a takeover target.
Their Egyptian mine at Sukari is producing large amounts of cash flow and profits as they continue to ramp up production, and they are continually finding more gold both in extensions of current mining areas and nearby. And they now seem to be onto a potential open pittable deposit in their properties which span the Burkino Faso/Cote D'Ivoire border.
There are two main drawbacks. One is the bloated share count, over a billion outstanding, the other several ongoing legal issues to do with a fuel subsidy and title to Sukari. Management says they are not worried bout wither, but in a poorly run legal system like Egypt's you never know.
Still, neither of these have prevented Centamin from tripling in share price the last while. I can see a larger company coveting both Sukari and the $332M in cash they have on hand.
I'd take $% a share if it was offered...
LC
