MARCH 17 2016 (The Conway Bulletin) – Kazakhstan-focused oil company Roxi Petroleum hit the headlines with a daily increase in its share price of over 10%, although the company did not publish updates regarding its operations at the BNG contract area in Western Kazakhstan.
Still rallying on positive results and an uptake in commodity prices, KAZ Minerals also fared well. The Motley Fool financial website said that, together with Glencore and Fresnillo, KAZ Minerals “could be a great long- term play on a mining sector recovery.”
Centerra Gold, a Kyrgyzstan-based Canadian miner, performed poorly again, and the company blames it on the uncertainty regarding negotiations the ownership structure with the Kyrgyz government.
“The uncertainty about renegotiating the future ownership profile of the Kumtor mine with the Kyrgyz government weighed heavily on the stock,” Mining Weekly quoted CEO Scott Perry as saying.
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(News report from Issue No. 272, published on March 18 2016)