Centamin Down 26%, Nearing Yr Low After Trading Resumption; Still Waiting on Written Egyptian Court Judgement
Centamin PLC (CEE.TO) is down 26% to $1.15. The shares have shaved 40 cents off since trading resumed today.
Centamin was informed earlier this week by certain media reports that its Concession Agreement to extract gold from the Sukari mine has been annulled.
"Comments reportedly made by an Egyptian administrative court this morning have given rise to speculation that parts of the Concession Agreement may have, in fact, been suspended," CEE said.
No details of a final decision have been made available and no written judgement has yet been given.
More than 1.1 million shares have been traded so far.
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