Ennex International is seeking shareholder approval to exercise an option to acquire a 95 per cent interest in a 4 million tonne zinc oxide deposit at Shaimerden, Kazakstan.

The exploration company has carried out due diligence work on the property since May and has spent $600,000 (£408,000) confirming the validity of previous work. A preliminary study has also been carried out on the mining characteristics of the deposit and Ennex said that the results of all this work corroborated earlier data and expectations.

If shareholders approve the acquisition at an extraordinary meeting on December 22nd, Ennex will initiate a feasibility study.