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Member Since: Sun, 11th Dec 2011

Number of Share Chat Posts (all time): 1,375
Number of Share Chat Posts (last 30 days): 24

Last Posted: Thu 01:53

Post Distribution over the last 30 days

Thu 01:53

Hi Lamorna, regarding the last two sittings, I don't know much more than what was in the links that I posted. What I heard from people on the ground is pretty much the same. Of course being Egyptian and having many friends in Egypt, I do hear a lot of things all the time, which of course could be true, rumors or false, so I always post what could be verified by links, which also may not be accurate sometimes, but I do that to avoid any responsibility or market abuse as you called it.

I was given reassurances that everything would be OK with the cc, but if I told you who told me, then that would be market abuse :)
Wed 08:38

538kg shipment today at Cairo Airport from Alsukary.
Tue 17:36

spot, this statement is from Esmat, not Joseph. The family members are: Samy (founder and holds over 70 millions shares), his brother Youssef (General Manager – Egyptian Operations), his second brother Esmat (Alsukary manager and ex-army general) and Samy's son Joseph (Chairman).

Esmat is the one who runs the mine on day-to-day basis at Marsa Alam.
Tue 16:02

Before reading the following report, you should know that the financial year in Egypt runs from 1st July till 30th June.

Mr Esmat El-Raghy "Manager of Al-Sukary" :

-Production rates exceeded the targeted plan during the current period compared to the same period last year.
-Production rate is on its way to increase during the second half of the year ending this month.
-The plan was to produce 500.000 ounces, which was met and exceeded.
-The final percentage could not be worked out yet as we have to wait until the end of the year.
-This week's shipment was larger than the average shipment because it contained the recent casting of this month as well as another casting which needed purification from residual impurities from all the previous shipments this month.
Tue 14:36

Excellent news. I was worried in case it gets adjourned for a long time. Only 7 days and we could have a ruling. The adjournments are getting shorter and shorter.
15 Jun '16

541kg shipment at Cairo airport today.

Also there was a 296kg shipment last Thursday (I can't remember if it was posted here or not).
14 Jun '16

This is the link that rchm posted on advfn.

It is from the 7th June. It does say ( The SAC decided to return the appeals filed by Alfakharany against the administrative court ruling to re-plead on 21st June).

I personally would not take that as it was Alfakharany or his lawyers who definitely asked to re-plead. When the media covers Alsukary case, it always refers to it as (The court is considering today the appeals filed by Alfakharany) No mention of the appeals filed by CEY , EMRA or SLA .. as in these link from the 7th June:

They all say (The SAC is ruling today on the appeals filed by Alfakharany against Alsukary's ruling).. No mention of any other appeals.

I'm not saying it was not Alfakharany who asked to re-plead, but from reading the media for the last few years, I don't think the article intended to say that the court took that decision because Alfakharany did ask.
13 Jun '16

More links to the same story, but all state exactly the same..
13 Jun '16

I certainly think this is very good new for our cc. Mr.Fahmy's case has been going on for a while and the charges against him were gradually being dropped off, and this was the last case against him so now he is completely clear , his travel ban has been lifted and he is free to access his money. He was never charged with anything related to Alsukary, the charges were related other contracts, mainly selling gas cheap to Israel, but in the negative commissioners report, they hinted towards corruption during Mubarak times, but they never mentioned any names as there was no evidence at all to support such claims, and of course with MR. Fahmy being the one signing the contract, so the hints were directed at him. Also the commissioners report was based on unfairness and wasting public money, which also Mr. Fahmy been cleared off. Regardless of who asked to re-plead, I could certainly see CEY and its alliance using this ruling to support their appeals.

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