ENERGEX MINERALS <EGX> MAY RUN UP TO THREE PITS
Energex Minerals
Ltd said economic evaluation of reserves indicates high-grade
operation from three open pits may be feasable based on
five-year operation at 100 tons a day, a payback of less than
1-1/2 years.
    An increase in the project's life, profitability and scale
is anticipated as additional reserves are developed in 1987,
the company said.
    Current reserves are one mln long tons at 0.20 ounce gold
per ton, all categories; proven-probable 262,242 long tons at
0.25 ounce gold per ton, the company said.
 Reuter
