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Member Info for Siko

Member Since: Sun, 11th Dec 2011

Number of Share Chat Posts (all time): 1,052
Number of Share Chat Posts (last 30 days): 30

Last Posted: Today 19:11

Post Distribution over the last 30 days

Today 19:11

While I was searching through all the media reports, I found this one from 17/11/2014. Obviously I'm not sure about the contents, but as usual I post it as it is.

A responsible source at EMRA stated that all the disputed points between CEY & EMRA would be resolved before the end of the month, expecting the profit share to start from January.

The accounts which the company submitted had 10 disputed points, 8 of them have been resolved including the salaries of the Egyptian workers and the foreign experts, spare parts and other various expenses.

The remaining disputed points are the expenses during the stoppage period and how to calculate the stock. CEY is asking for $17 millions as expenses during the stoppage period at the mine due to the 25th Jan revolution and the aftermath.

The total production up to the end of the previous month amounted to 40 tonnes, worth more than $1.3 billions, Egypt only received $72 millions including $30 millions as royalties and the rest is advanced payment until settling the accounts.
Today 18:23

I went through all the media reports for the last 3 months and these are all the shipments that had been reported in the media. I do not know if all been reported here or not:

230kg (21 DEC)


315 (10 Dec) "Not 100% sure about this one as could be the same one from 9 Dec)


290 (9 Dec)


350 (1 Dec)


260 (18 Nov)


357 (12 Nov)


200 (6 Nov)


689 (15 Oct)


329 (1 Oct)
Today 11:06

230kg shipment arrived today at Cairo Airport.
Thu 07:41

Yes the same person, he was arrested, released pending investigations and then the case was referred to the criminal court. I heard about a couple of adjournments, last one was on 30th March 2014, but do not expect much.
Wed 23:33

Bubble, I will take my CEY hat off and tell you honestly what I know about Hamdy from a neutral point of view.

-Hamdy is an engineer, and his friend -Wael Elsaid- is the lawyer who represents him in courts, so all his cases do not cost him anything as they both share the same views.

-He calls himself "The first fighter against corruption".

-He has been filing cases for a very long time. This is not something against a certain government. He has been doing this since Mubarak regimen, started with Madinaty case and continued during the interim military government, Mursi and now Sisi.

-Not many people share the same view as him regarding the court cases, and he always asks people to attend the hearings with him, but very few people do.

-He is popular in his home city "Almahala", where he sometimes wins as the MP.

-I think court cases is something he really believes in, and I personally do not think he does it for any financial gain.

-When I look at his cases, I could see that he only considers the contracts and nothing else. He does not look at the whole picture and the long term benefits of these contracts. For instance, Madinaty case-Egypt's biggest administrative case- where he is disputing selling a huge piece of land -33million sq meter- very cheap, I actually agree with the government on this one. Only 7% of Egypt is populated, while 93% is desert, so the government sold a huge piece of land in the desert very cheap, where the investor was going to build all the infrastructure and build a state of the art new city and the government to take 7% of the built units, I think this is great, and just for your information, they city is nearly finished now and the whole area around it is getting built by other investors and it is one of Egypt's most expensive areas now, so good thinking by the government, while on paper and in black & white, they sold it very cheap. So would the judge just stick to the law and look at the actual value of the land which was sold cheap, or use the spirit of the law and consider the whole benefits of the project and all the developments and the jobs that have now spread around that area??

-I have seen all CEY actual CC papers from the first ruling to commissioners report, and honestly there is nothing solid Hamdy has provided. He is just shouting unfair, cheap, corruption.. but there is nothing.. not one single document to support any of his claims.

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