MINMET has reported a sharp fall in losses in the first six months of 1996, from £275,911 in the same period last year to £32,700. The exploration company said the reduced losses were due to cuts in its operating overheads. The current loss is attributable to the administrative, legal and compliance costs of maintaining two publicly-quoted companies, in Minmet and Connary, it said. Announcing the figures yesterday, chairman Mr Jeremy Metcalfe said the company had made significant progress over the past 12 months, which he believed would be sustained. Minmet is involved in gold-related activities in Ireland, Portugal, Britain, Russia and Bolivia.