Centamin (LSE: CEY) continues its recent recovery.
Shares in Centamin (LSE: CEY) lifted a further 25% in early morning trade following the news that Customs has lifted its halt on gold exports from the Sukari mine in Egypt.
The statement confirmed that a shipment was made yesterday, and that the gold miner expects "both fuel supply and normal operations... to resume in the coming days, once payment for the latest shipment has been received and working capital in the operating company, Sukari Gold Mines, has subsequently been replenished".
The news is another boost for Centamin, after a suspension was lifted that had caused its fuel supplier Chevron to be unable to supply fuel to Sukari. The shutdown of the Egyptian mine -- which Centamin admitted had been placed "on care and maintenance" until the issues were resolved -- caused the shares to plummet over 60% in one day, from 52p down to 30p. Once the suspension was lifted, however, the shares rebounded to 34.64p on Friday's close.
Today's announcement, and subsequent boost in the share price, has added another 8.74p (25.2%) onto the shares at the time of writing, leaving them standing at 43.38p currently.
So, more good news for investors who bought into Centamin at the bottom of the recent price crash. However, the share price has yet to regain all of its value prior to the plunge, and the question whether the potential for recovery makes Centamin a 'buy' remains your decision.
Indeed, you may wish to consult this free Motley Fool report, which explains how betting on battered shares can provide wonderful gains… if the underlying company recovers. To put a possible turnaround into perspective, Centamin's shares reached a peak of 197p before the Egyptian troubles erupted.
Anyway, if Centamin is tempting you today, please click here to read the Fool's exclusive 'millionaire' report before you hit the 'buy' button.
> Sam does not own any share mentioned in this article.