OREANDA-NEWS. Shalkiya Zinc (SKZ) has posted 1H07 IFRS results. According to the experts of Aton Capital, the results which came out look somewhat below expectations (lower h-o-h, but up y-o-y). The main negative surprises were a lower-than-estimated zinc recovery rate (58% vs. 61%) and the lead recovery rate (27% vs. 35%), due to the upgrading of the Kentau plant.

The company decreased its output target for 2007F from 1.2mn tons of ore to 0.8mn tons of ore, but the experts expect the company to meet its main target of processing 4mn tons of ore in 2011F. Their current rating of SKZ shares is "Buy", with a 12-month target price of $5.37.