Centamin’s Stock Jumps On Egyptian Petroleum Minister’s Positive Interview
Centamin PLC puts in strong performance on London stock exchange after petroleum minister declares end to disputes between authorities and the firm.
The stocks of gold miner Centamin PLC, however, ended the week up 41 percent with traders citing an interview on Egyptian television in which the country’s petroleum minister Osama Kamal supported the company.
The stocks of gold miner Centamin PLC, however, ended the week up 41 percent with traders citing an interview on Egyptian television in which the country’s petroleum minister Osama Kamal supported the company.
Minister Kamal was quoted as saying in an interview on Thursday with local channel CBC; Centamin’s agreement with Egypt is “a good model.” He further stressed his keenness for the relationship between Egypt and Centamin to continue.
The stock enjoyed a bullish week after gold exports from Egypt resumed and the company posted annual production which came in 5 percent ahead of guidance.
