Centamin Egypt Ltd - multi million ounce gold deposit

This is the position re profit share for the benefit of tee man, Atlantic1953 and alsation

There is no profit share regarding PGM/Sukari.
I quote from the company's 2005 Annual Report and they ought to know:

Centamin have 100% interest in Sukari, the 50% refers to Rosetta. The relevant part of the 2005 Annual report is:
________________________________________________________________________________________
MINERAL EXPLORATION AND MINING TENEMENTS HELD IN EGYPT:
Name: Eastern Desert
Tenement reference: Law 222 for 1994
Note 1
Interest at 30 June 2005: 100%
Interest at 30 June 2004: 100%

Name: Rosetta
Tenement reference: Concession
Note 2
Interest at 30 June 2005: 50%
Interest at 30 June 2004: 50%

Notes:
1. Pharaoh Gold Mines NL (a wholly owned subsidiary of Centamin Egypt Limited) is the holder of a Mining (Exploitation) Lease covering an area of 160 km2 that contains the proposed Sukari mine site and surrounding prospects. This lease is issued under the existing Law 222 of 1994, which was enacted by the Egyptian Government specifically to accommodate the Company’s exploration and mining activities in the Eastern Desert (the Eastern Desert Concession). The Lease has a tenure of thirty years with the option to renew for a further thirty years.

2. An Egyptian mineral concession held under application by Egyptian Pharaoh Investment (EPI) an Egyptian Company jointly owned by Centamin Egypt Limited and Kara Gold NL under an agreement with the Egyptian Government. Under the terms of this agreement to develop a heavy minerals project at Rosetta on the Mediterranean coast, east of Alexandria, any profit from mining and separation of the heavy minerals will be shared with the Egyptian Government after EPI recoups all of its development expense. Any profit from the upgrading of the ilmenite to pigment quality TiO2 (titanium dioxide) will be 100% EPI.

________________________________________________________________________________________
I have phoned someone in the know who confirmed the above and that there is a royalty payment on production - I think 3% is widely quoted. The taxation rates are otherwise normal to low.

I hope that this little misunderstanding means that the market value now moves up the appropriate percentage i.e. 100%

In spite of others expressing surprise at this no one has found anything so far to indicate otherwise.