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Centamin Egypt Down 6% Despite No Sign Yet Operations Will Be Hurt by Egypt Export Ban

Centamin Egypt Ltd (CEE.TO) shares are down about 6% this morning on reports that Egyptian authorities are restricting gold exports from the country.

Egypt yesterday said it was banning gold exports for up to four months in order to keep individuals from moving assets abroad.

But company officials said today that they have yet to receive either formal or informal notice from the Ministry of Petroleum and Mineral Resources or any other agency that the government intends to curtail, restrict or prohibit any regular gold shipments.

They also said the Sukari Gold Mine continues to produce and export gold dore for refining, generating the international spot price for such deliveries when they occur.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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