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%

I'm back in profit...... taken about 5 years lol.

I sold out for a small profit just before the big rise :(

Exane BNP Paribas today upgrades its investment rating on Kaz Minerals PLC (LON:KAZ) to outperform (from neutral) and set its price target at 450p.

Peel Hunt today reaffirms its hold investment rating on Kaz Minerals PLC (LON:KAZ) and raised its price target to 365p (from 275p).

Credit Suisse today downgrades its investment rating on Kaz Minerals PLC (LON:KAZ) to neutral (from outperform) and raised its price target to 370p (from 275p)

Barclays Capital today (09/01/17) reaffirms its equal weight investment rating on Kaz Minerals PLC (LON:KAZ) and raised its price target to 390p (from 210p).

Comment from Canaccord today:
"Upgrade to BUY
Production increases to continue from late 2016 to 2018
In KAZ's 3Q16 production results, the company delivered substantially increased production levels as the Bozshakol mine continued its commissioning. Commercial production was declared from late October and we expect Bozshakol to be running near production capacity in the coming quarters. In December, KAZ also announced the commissioning of Aktogay some 3-6 months ahead of our forecasts. We forecast continued production growth at KAZ through 2018.

Profit to significantly pick up from 2017
Despite our forecast for a strong yoy EBITDA recovery in 2016, we are forecasting continued strength in 2017, when we forecast EBITDA to double YoY. With our stronger copper price forecasts and also our continued production growth, we see 2017 as the second year where KAZ leads in EBITDA growth of all the copper companies we cover from London, but unlike 2016 we believe 2017 should include lower balance sheet risk.
Net debt to decrease from 2018

Beyond completion of the Bozshakol and Aktogay projects in 2017, we see 2018 as the first year of positive free cash flow for KAZ and also the first year of net debt reduction post project completion. While we do anticipate a modest decrease in gearing by year end 2017, CG forecasts 2018 as the first full year of net debt reduction.

Capex falls off from 2019, with a step up in free cash
The free cash story should further improve from 2019 as project capex (including deferred capex) starts to fall away after 2018. From 2019 we see a substantial increase in free cash generation and decreases in both net debt and gearing. We forecast 2019 as the first year where KAZ capex/OCF comes in below 50%.

Most of our debt concerns addressed in late 2016
Over 2016 we highlighted the attractive growth profile of KAZ but the high risk balance sheet and debt maturity profile. In mid December, KAZ announced an additional debt facility of US$300mn with more flexible convenants and an extended maturity. At the same time, KAZ announced covenant waivers for the PXF and CAT facilities, with further negotiations to take place on maturities beyond year end 2016 reporting. These announcements address the vast majority of our debt profile issues, and re-align deleveraging with profit growth. We see this as a significant positive.

Upgrade to BUY rating, raising target to 475p
We have significantly increased our target on KAZ to reflect stronger production growth from Bozshakol (and potentially Aktogay), higher copper prices and a much improved cash generation profile to match revised maturities. Our revised target comes out to 475p (based on 2017 P/E, EV/EBITDA and NPV), over triple our previous 155p target. With over 20% potential upside to our target we upgrade to a BUY rating. While this upside is much more muted than KAZ equity gains in the past year, we still expect KAZ's growth story to continue into 2018."

Peel Hunt today upgrades its investment rating on Kaz Minerals PLC (LON:KAZ) to add (from hold) and raised its price target to 450p (from 395p).

Peel Hunt today (31/01/17) reaffirms its add investment rating on Kaz Minerals PLC (LON:KAZ) and raised its price target to 500p (from 450p)

StockMarketWire.com
KAZ Minerals posts pre-tax profits of $220m for the year to the end of December - up from $12m in 2015.

Gross revenues rose by 43% to $969m and gross EBITDA increased to $492m from $208m driven by the Bozshakol copper-gold mine in Kyrgyzstan and the Aktogay open pit copper mine in Kazakhstan.

Chief executive Oleg Novachuk said: "The successful launch of our major growth projects has increased copper output by 73% at an industry leading net cash cost of 59 USc/lb.

"Following the recent commencement of production at the Aktogay sulphide concentrator both Aktogay and Bozshakol are operational.

"KAZ Minerals is now well positioned to achieve its target of 300 kt of copper production in 2018, delivering significant copper growth with low operating costs into a strengthening market."

Citigroup today reaffirms its buy investment rating on Kaz Minerals PLC (LON:KAZ) and raised its price target to 670p (from 520p).

down grade to 400 27.2.17 450 looks like my entry. meanwhile looking for a
cobalt mine on LSE bb

StockMarketWire.com
KAZ Minerals has started to receive the refund of VAT paid during the construction of the Bozshakol and Aktogay projects.

The group said that following the completion of audit and other administrative procedures, it had received $166 million in VAT refunds to date this year.

The recoverable VAT paid during the construction of the two projects was included within non-current receivables as at 31 December 2016.

Peel Hunt today upgrades its investment rating on Kaz Minerals PLC (LON:KAZ) to buy (from add) and left its price target at 555p.

HSBC today (18/04/17) upgrades its investment rating on Kaz Minerals PLC (LON:KAZ) to hold (from reduce) and raised its price target to 450p (from 400p).

Peel Hunt today (24/04/17) reaffirms its buy investment rating on Kaz Minerals PLC (LON:KAZ) and raised its price target to 590p (from 555p).

Peel Hunt today (05/05/17) reaffirms its buy investment rating on Kaz Minerals PLC (LON:KAZ) and raised its price target to 600p (from 590p).

StockMarketWire.com
KAZ Mineral has completed an amendment and extension of its pre-export finance loan facility which includes an increase in the facility commitments to $600m.

KAZ said the new PXF extended the maturity profile of the existing facility by 2.5 years from December 2018 until June 2021.

It said that under the revised repayment profile, principal repayments would commence in July 2018 and then continue in equal monthly instalments over a three-year period until final maturity in June 2021.

It added: "The facility amount has been increased to $600m reflecting strong support from the market during syndication.

"The balance of the $600m commitments over the $224m outstanding under the existing facility as at 31 May 2017 will be available for drawing over a six month availability period until December 2017."

The refinancing was coordinated by Deutsche Bank AG, ING Bank and Societe Generale Corporate and Investment Banking acting as coordinating mandated lead arrangers and bookrunners.

Other lenders in the facility are ABN AMRO Bank NV, Bank of China Limited, Citibank NA, Credit Agricole Corporate and Investment Bank, ICBC London, JP Morgan Chase Bank NA, Natixis, Rabobank London and UniCredit SpA.

Deutsche Bank AG continues as the agent bank and ING Bank is the security trustee.

Chief financial officer Andrew Southam said: "We are pleased to announce the signing of the amendment and extension of the PXF facility with an enlarged syndicate of 12 banks participating.

"The amended facility demonstrates continuing support for the Group from its lenders, with all existing banks maintaining or increasing their participation and four new banks joining the syndicate.

"The new PXF will enhance our financial flexibility as we complete the ramp up of output from our new mines at Bozshakol and Aktogay."

RBC Capital Markets today reaffirms its sector performer investment rating on Kaz Minerals PLC (LON:KAZ) and raised its price target to 650p (from 470p).

StockMarketWire.com
KAZ Minerals said full production had resumed at Bozymchak.

The company said that it had received notification today from the government of Kyrgyzstan that the suspension of operations at Bozymchak announced on 2 Nov had been cancelled.

Bozymchak produced 7 kt of copper cathode and 38 koz of gold bar in 2016.

Citigroup today reaffirms its buy investment rating on Kaz Minerals PLC (LON:KAZ) and set its price target at 1020p.

StockMarketWire.com
KAZ Minerals reported pre-tax profits of $580m for the year to the end of December, up from $220m in 2016 amid strong copper and growth production.

Gross revenues rose doubled to $1,938m and gross EBITDA increased to $1235m, up from $492m, benefiting from a greater proportion of output from the lower cost operations of Bozshakol and Aktogay.

Copper production increased by 80% and gold production was 40% higher compared to prior year.

The miner guided copper production for 2018 of 270-300kt as higher throughput is expected to be offset by slightly lower average copper grades.

Andrew Southam, Chief Executive Officer, said: 'The Group has delivered high production growth and low operating costs in 2017.'

'Following the successful ramp up to date of Bozshakol and Aktogay our asset base is now dominated by large scale, low cost, modern copper mines which are set to generate significant cash flows in the future.'

'We have established a strong platform to deliver further growth in 2018 and from the expansion of Aktogay, which leaves us well positioned to benefit from the expected tightness in the copper market, as declining global supply coincides with continued growth in demand.'

the pain piles on .....

* Shares of copper miner Kaz Minerals -10.6 pct after brokerages cite further problems with Kaz's Aug. 2 acquisition of under-developed copper mine Baimskaya; bottom of FTSE midcap
* Credit Suisse downgrades stock to "neutral" from "outperform", cuts TP to 630p from 1050p, citing that outlook for Kaz "completely changed" after the acquisition of Baimskaya
* Barclays further cut TP by 5 pct to 760p on Friday; It cut it by 21 pct from 1,015p to 800p on Aug. 6 after saying Baimskaya deal is a "fundamental de-rating event" for Kaz
* Broker cuts come a day after Kaz announced its first interim dividend in six years, and said it expects to make a similar payment for H2 as it boosted output and kept costs low in H1, sending shares up 7 pct on Thursday
* "What we had liked in KAZ was low cost operations driving strong FCF, a rapid balance sheet delevering and resultant debt to equity shift. This has now been turned on its head" - CS
* CS: "Including the Baimskaya project means capex will remain very elevated for the next 8 years and on our free cash flow estimates will remain negative over the period"
* Barclays said on Friday it remained unconvinced after Kaz tried to reassure on progress of Russian government at Baimskaya
* On Aug. 2, Kaz shares plunged 30 pct after it said it was expanding into Russia with a deal to buy a copper project in Baimskaya for $900 million from a group of investors including Chelsea soccer club owner Roman Abramovich...

Thought it had bottomed out at 620p... .. doh.

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