Irish exploration company Ennex has reported a reduction in pre-tax losses to $287,000 (£260,900), from $389,000 (£353,600), in the six months to the end of June 2000. Working capital amounted to $659,000 and includes the proceeds from the placing of 7.5 million shares. Announcing its interim results yesterday, the company reported its zinc project in Kazakhstan will incur a capital cost of $227 million, down from earlier estimates of $240 million. The company is hoping to attract joint venture partners for the Shaimerden project.

Work continues in Morocco on an exploration plan with partner BRPM. In the Republic, exploration work is ongoing on the Moate Block and on the licence adjacent to the Galmoy mine in Co Kilkenny.