Kazakhyms plc is the tenth largest copper cathode producer and the tenth largest mined copper producer in the world. Its principal business is the mining, processing, smelting, refining and sale of copper and copper products, including copper cathode and copper rod. As by-products of it copper operations, the group also processes, refines and sells zinc, gold and silver.

            Red = 25 day moving average.           Green = 200 day moving average.

SALES PER ACTIVITY (Data as of 31/12/2005)

Copper operations & others: 100%

Up more than 16% today.

Wait for me! Darn, too late! :o)

StockMarketWire.com
KAZ Minerals posts a pre-tax profit of $12m for the year to the end of December against a loss of $169m last time.

Revenues of $665m were down from $846m and EBITDA (excluding special items) fell to $202m from $355m.

The group posts an underlying loss of $10m against a profit of $86m a year ago.

Chief executive Oleg Novachuk said: "In 2015 we made excellent progress in the delivery of our major growth projects, Bozshakol and Aktogay, and the operating mines in the East Region and Bozymchak hit their production targets at a first quartile net cash cost of 109 USc/lb. Our immediate priorities in 2016 are the ramp up of Bozshakol, the construction of Aktogay and to keep operating costs low across the Group. The delivery of our world class projects will enable us to de-gear the balance sheet and complete our transformation into a low-cost operator of large scale, open pit copper mines in Kazakhstan."

Still going up .

KAZ has certainly outstripped ANTO of late, though i'm happier that ANTO is of far higher quality

there's a 6-month comparison chart below which highlights this, but over the last 12 months, there's now nothing between them ...... lies, damned lies and statistics!

Looks like KAZ will go into the FTSE 250 this week.

hence the surge i guess

Up we go again , no stopping this one at the moment

I hate this share. Just sour grapes because I was too chicken to buy and still am! :o)

Here we go again up 5% on a bad day.

:-))

Well we nearly made it to £2 ,bugger .

Nomura today reaffirms its reduce investment rating on Kaz Minerals PLC (LON:KAZ) and raised its price target to 100p (from 90p).

What a stupid rating they are 173p today .

Deutsche Bank today downgrades its investment rating on Kaz Minerals PLC (LON:KAZ) to hold (from buy) and cut its price target to 170p (from 197p).

Macquarie today reaffirms its outperform investment rating on Kaz Minerals PLC (LON:KAZ) and set its price target at 200p.

Merrill Lynch note today:
"Volume growth drives value transfer from debt to equity We upgrade KAZ Minerals from Underperform to Buy, increasing our PO to GBp 300. We see execution risks falling after the Bozshakol project launch in February 2016. We shift our target valuation year to 2018, when both the Bozshakol and Aktogay projects should be ramped up, driving rapid deleveraging and thus unlocking equity value. 2018E FCF yield jumps to 16%. Potential near-term catalysts are: successful ramp-up of Bozshakol (boosting confidence in execution), renegotiation of debt covenants, and launch of Aktogay in 2017E.
New PO set at 5x 2018E EBITDA, when key projects ramp up In 2018 KAZ approaches its medium term “steady-state”. By then, copper production should more than triple vs. 2015 to c.300ktpa copper, as Bozhakol and Aktogay deliver 100kt and 105kt copper, respectively. EBITDA increases c. 5x to $1.1bn by 2018E, ND/EBITDA drops from 11x to 2.9x. Our target EV/EBITDA multiple represents a c.30% discount to peer average of 7x, reflecting our 2018 target year, as well as potential country and execution risk.
Bozhakol launch in February 2016 reduced execution risks The next growth project for KAZ is Aktogay. Construction is under way, commissioning planned for 2017. We see Aktogay as lower risk as the design is similar to Bozshakol and it is being built by the same contractor. Bozshakol should be a low-cost asset (first quartile) with C1 cost 70 USc/lb on average for the first 10 years, thanks to by product credits from gold (120koz pa). Aktogay’s net cash costs are modelled at 107 USc/lb.
Financing risks look manageable (thanks to China) The company is liquid near term with $1.3bn cash at end-2015 vs $682mn capex and $312mn repayments. We expect that the PXF/CAT’s ND/EBITDA covenant, tested for H2 2016, will be waived. In 2017 we expect KAZ to be able to postpone short term liquidity requirements. By then, we think execution risks will be lower (Aktogay is slated to launch that year) and operating cashflow generation should be stronger thanks to Bozshakol ramping up. More generally, we see copper growth story of KAZ as sponsored by China on several dimensions (providing debt and technical expertise for construction, guaranteeing off-take for the product), and see the risk of this sponsorship being pulled as very low."

Deutsche Bank today reaffirms its hold investment rating on Kaz Minerals PLC (LON:KAZ) and cut its price target to 163p (from 170p).

KAZ Minerals increases copper cathode production

StockMarketWire.com

KAZ Minerals said copper cathode equivalent production was 52.6 kt in H1 2016, an increase of 43%.

There was a rise in copper output due to commissioning of new mines and continued production growth is expected in the second half.

The group said it's on track to meet 2016 guidance of 130-155 kt copper cathode equivalent.

HIGHLIGHTS

- Bozshakol commissioning progressing well, FY guidance maintained

- 100% load tests successfully performed on key equipmenT

- Copper in concentrate production of 9.5 kt in Q2 (Q1: 1.1 kt)

- Q2 throughput limited by 17 day scheduled shutdown in May and commissioning works in June

- Throughput increasing in Q3, 2016 guidance maintained at 45-65 kt copper cathode equivalent

- Aktogay oxide cathode output of 3.9 kt in Q2 (Q1: 1.5 kt)

- Ramp up progressing, on track for 15 kt full year guidance KAZ Minerals reported a significant increase in gold production. Gold bar equivalent output1 of 39.1 koz in H1 2016 (H1 2015: 16.1 koz).

Bozymchak operated at design capacity throughout the first half, producing 17.9 koz of gold bar equivalent1 (H1 2015: 5.1 koz).

East Region and Bozymchak produced 30 koz of gold bar equivalent, now on course to meet or exceed top of 2016 guidance range (40-50 koz).

Bozshakol contributed 9.1 koz of gold bar equivalent in H1 2016, with 8.8 koz in Q2.

At 8:38am: (LON:KAZ) Kaz Minerals PLC share price was +8.65p at 150.45p

Nice rise here over the last week.