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 projects 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 262242 long tons at 0.25 ounce gold per ton the company said.
ENERGEX MINERALS <EGX> MAY RUN UP TO THREE PITS