Ennex cuts losses

Ennex International, the zinc development company, has said the feasibility study on its 95 per cent owned zinc oxide project…

Ennex International, the zinc development company, has said the feasibility study on its 95 per cent owned zinc oxide project in Kazakhstan is scheduled for completion in early 1999.

The project was acquired in December 1997 following shareholder approval and after a 7 month due diligence and technical audit process, during which the company assumed full responsibility for the project.

Ennex yesterday reported for the half year to June 30th, showing a loss of $296,000, down from $617,000 for the corresponding period in 1997.