Tag Archives: copper

Stock market: Tethys, KAZ Minerals, Centerra

JAN. 21 2016 (The Conway Bulletin) — Tethys shares dropped to their lowest price since listing in 2011, falling 18% over the last week to 1.75p. Our graph shows its fall since the start of December.

Problems at its operations in Tajikistan may have dented investors’ confidence. China’s CNPC and France’s Total, its partners in the Bokhtar oil project, have said they want Tethys to exit the venture.

Last week, also, the Tajik government joined the fray and said it might expropriate 25% of the licensed area, as production hasn’t started yet.

Commodities prices were stable, after months of depreciation against the US dollar. But this has not helped all miners in the region. In fact, Centerra shares fell, due to the ongoing controversy with its Mongolian operations. On the upside, KAZ Minerals continued its upward trend, thanks to the continued depreciation of the Kazakh tenge. Its costs are in tenge. Its earnings in US dollars.

ENDS

(News report from Issue No. 264, published on Jan. 22 2016)

Stock market: Centerra Gold, Central Asia Metals

JAN. 15 2016 (The Conway Bulletin) — Mining companies in Central Asia had different experiences this week.

In Toronto, Centerra Gold shares fell 6.6% to 7.01 Canadian dollars. The company’s optimistic results published on Jan. 11 gave its shares a short-lived boost at the beginning of the week, but the continuation of the row with the Kyrgyz government may be eroding investors’ confidence.

Kazakhstan-focused Central Asia Metals lost 8.2% in the week, but closed on an upward note at 128.75p on Thursday. Against this trend, KAZ Minerals gained 5% this week, closing at 94.5p.

Oil and gas companies continued to suffer through the lowest oil prices in a decade, now heading below $30/barrel. Tethys Petroleum, which had financial troubles in its operations in Tajikistan, lost 26% in London to close at 2.13p on Thursday. In the past week, Nostrum Oil & Gas shares lost 8.4% to 329.9p. Roxi Petroleum also lost 12.3% to close at 7.13p.

ENDS

(News report from Issue No. 263, published on Jan. 15 2016)

Stock market: Tethys, Nostrum, Tengri

DEC. 17 2015 (The Conway Bulletin) — Commodities prices keep declining and the industry continues to worry and use caution. This is reflected in the markets, which show the poor performance of Central Asia and South Caucasus focused firms.

Tethys Petroleum (-6% in the past week), Nostrum Oil & Gas (-5.8%) and Roxi Petroleum (-4%) were hit by oil prices plummeting to around $37/barrel.

Industrial and judicial news affected the performance of several miners in the region.

KAZ Minerals closed at 88.5p on Thursday a 7.7% fall in share prices compared to last week. Centerra Gold lost 11% on the Toronto Stock Exchange, closing at 7.07 Canadian dollars on Thursday.

Generally stable Tengri Resources also fell after it announced it was not going to mine the Taldybulak gold and copper project in Kyrgyzstan. It lost 17.4% in one day to close at 3p per share on Thursday.

ENDS

(News report from Issue No. 261, published on Dec. 20 2015)

Stock market: Tethys Petroleum, Nostrum Oil & Gas

DEC. 11 2015 (The Conway Bulletin) — Oil prices fell by almost 10% to under $40/barrel this week — its lowest price since 2009. This hit several of the region’s energy companies who were already dealing with a sharp slump in their share prices.

Tethys Petroleum closed at 4.38p on Thursday, down 2.7% in one week. Roxi Petroleum continued to decline, closing at 6.38p on Thursday, down 8.9% on the week. Nostrum Oil & Gas shares lost 3% to close at 369.5p.

Commodity companies were hit by the general downturn in the market and the news of giant miner Anglo American scaling down operations dramatically. Gold prices fell again by 2% this week, hitting $1,067/ounce.

This affected Kazakhstan-focused mining companies such as Central Asia Metals and KAZ Minerals, which lost 8.9% and 3.8% respectively this week. Kyrgyzstan-focused miner Centerra Gold surged 4%in the Toronto Stock Exchange to 7.94 Canadian dollars, against the trend of other companies, perhaps rallying on its positive results in the first three-quarters of the year.

ENDS

(News report from Issue No. 260, published on Dec. 11 2015)

Kazakh KAZ Minerals boost copper production

DEC. 1 2015 (The Conway Bulletin) — Kazakh miner KAZ Minerals said it had produced its first copper from the Aktogay project in east Kazakhstan. KAZ Minerals,previously known as Kazakhmys, forecast that the Aktogay project will produce 15,000 tonnes of copper/year over the next decade.

ENDS

(News report from Issue No. 259, published on Dec. 4 2015)

Stock market: Tethys, Nostrum, GHG

NOV. 27 2015 (The Conway Bulletin) — Oil producers suffered in the London stock market this week, due to mixed industrial announcements.

Tethys Petroleum shares lost 13% in one week closing at 4.25p on Friday. Nostrum Oil & Gas was on track to a similar fall after it lost 9% on Monday, recovering later in the week after it showed its investment plans for a new gas treatment facility. On Friday, Nostrum closed at 376p, down 3.5%. Roxi Petroleum shares closed at 7.75p on Friday, down 5% from last week.

Central Asia Metals lost 2.2% this week to close at 161.5p on Friday, while the other major miner in Kazakhstan, KAZ Minerals, gained 7.8% to 99.8p.

Newly-listed Georgia Healthcare Group lost around 2% this week to close at 177p on Friday.

ENDS

(News report from Issue No. 258, published on Nov. 27 2015)

KAZ Minerals invest in Kazakh copper

NOV. 13 2015 (The Conway Bulletin) — KAZ Minerals, the Kazakh copper producer, plans to build two hydro- metallurgical processing plants in Zhezkazgan, central Kazakhstan, to extract more copper from low value, media reported. The combined project will cost around $30m. KAZ Minerals is one of Kazakhstan’s most important companies and has been linked to the elite.

ENDS

(News report from Issue No. 257, published on Nov. 20 2015)

Stock market: KAZ Minerals, Centerra Gold

NOV. 20 2015 (The Conway Bulletin) — On the stock markets, KAZ Minerals, formerly called Kazakhmys, was one of the biggest movers.

Its share price rose from 80p to 92p — a two-week high, apparently off the back of news that it will restructure some of its costs.

On the Canada stock market, shares in Centerra Gold recovered from a six-month low of 6.95 Canadian dollars after its core asset, the Kumtor gold mine in Kyrgyzstan announced better-than-expected results.

ENDS

(News report from Issue No. 257, published on Nov. 20 2015)

Stock market: GHG, Nostrum, KAZ Minerals

NOV. 10 2015 (The Conway Bulletin) — As the Bulletin reports on its front page, Georgia Healthcare Group (GHG) listed on the London Stock Exchange with an initial share price of 170p on Nov. 9. The company listed 29% of its shares, valuing the company around £218m ($331m). By Friday its shares had dropped to 181p.

Oil and commodities companies lost ground on the London stock market after Brent and copper prices fell by 6% and 4.5% this week.

Linked to this fall in the price of Brent crude futures, Kazakhstan-focused Nostrum Oil & Gas shares were down 16% closing at 367.5p. Nostrum recorded an 8% fall on Thursday, placing its shares among the worst performers on the FTSE 250.

Cooper producer KAZ Minerals, formerly known as Kazakhmys, faired worse. Its shares fell by 20% over the week, closing at 80p.

Tethys Petroleum shares jumped by 53% on Monday following Olisol’s letter of intent to acquire its stakes, but finished the week down to 4.25p.

ENDS

(News report from Issue No. 256, published on Nov. 13 2015)

Stock market: Roxi Petroleum, KAZ Minerals

NOV. 5 2015 (The Conway Bulletin) — Stock markets saw commodities-focused companies lose terrain this week, despite a brief surge in oil prices above $50/barrel on Tuesday.

Kazakhstan-focused oil company Roxi Petroleum lost 16% in one week closing at 7.88p, perhaps driven down by technical issues slowing down its drilling operations at the BNG contract area in the western part of the country.

After peaking at 122.4p on Tuesday, mining company KAZ Minerals shares were down 8.5% to 105.7p on Friday. KAZ Minerals used to be called Kazakhmys.

In Toronto, Centerra Gold shares lost 3.5% to 7.15 Canadian dollars, continuing a 3-week slump following debates on the formation of a new government in Kyrgyzstan. The Kumtor gold mine in Kyrgyzstan is Centerra’s main asset and the company is a major taxpayer in the country. Centerra has said, though, that production at Centerra would be down this year on earlier forecasts.

A new government has now been formed in Kyrgyzstan, hopefully giving Centerra a stable partner to work with.

Shares in Bank of Georgia were down 4.5% to £19.11 on Friday.

ENDS

(News report from Issue No. 255, published on Nov. 6 2015)