IN BRIEF: Shuka says Leopard Exploration deal funds delayed again
Shuka Minerals PLC - Africa-focused mine operator and developer - Says funding to facilitate its acquisition of Leopard Exploration & Mining Ltd in Zambia has experienced a further slight delay. Shuka notes that Gathoni Muchai Investments Ltd is completing an alternate means to expedite payment. Shuka says Gathoni Muchai has informed it that the remittance of the funds has been delayed again. Gathoni Muchai had said early this month delay in remittance is due to administrative matters and required regulatory clearances in Kenya. Early in July, Gathoni Muchai agreed to increase its loan to Shuka by GBP1.5 million to GBP2 million. This extension covered the balance of USD1.35 million or GBP1.0 million due to vendors of Leopard Exploration. Read More