Shuka interim loss narrows as awaits funding, set to restructure board
30th Sep 2025 10:24
(Alliance News) - Shuka Minerals PLC on Tuesday indicated it sought to shake up its board as it sharpened focus on mining and development in Africa. Read More
(Alliance News) - Shuka Minerals PLC on Tuesday indicated it sought to shake up its board as it sharpened focus on mining and development in Africa. Read More
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
Shuka Minerals PLC - Africa-focused mine operator and developer - Says funding to facilitate its acquisition of Leopard Exploration & Mining Ltd in Zambia has been delayed. Leopard Exploration is a Zambian mining and exploration company that owns the Kabwe zinc mine. Early in July, Gathoni Muchai Investments agreed to increase unsecured, interest-free and non-convertible loan to Shuka by GBP1.5 million to GBP2 million. This extension covered the balance of the cash consideration of USD1.35 million or GBP1.0 million due to vendors of Leopard Exploration. Read More
Shuka Minerals PLC - Africa-focused mine operator and developer - Says Gathoni Muchai Investments agrees to increase unsecured, interest-free and non-convertible loan by GBP1.5 million to GBP2 million. This extension covers the balance of the cash consideration of USD1.35 million or GBP1.0 million due to vendors of Leopard Exploration & Mining Ltd, which is located in Zambia. The loan will also fund the initial exploration work at the Kabwe Mine, as well satisfy general working capital requirements. Says all conditions for the Leopard Exploration acquisition have now been satisfied. Repayment will start by June 30, 2026, it says. Read More
(Alliance News) - Shuka Minerals PLC said on Monday it has secured an extra loan to fund its acquisition of Leopard Exploration & Mining Ltd after its annual loss deteriorated. Read More
(Alliance News) - The following is a round-up of earnings for London-listed companies, issued on Monday and not separately reported by Alliance News: Read More
(Alliance News) - Shuka Minerals PLC said on Thursday it expects to wrap up its takeover of Leopard Exploration & Mining Ltd this month after clearing all conditions. Read More
(Alliance News) - Stock prices in London were higher at midday on Wednesday, amid hopes that a potential meeting between Donald Trump and Xi Jinping his week can reduce trade policy tensions. Read More
Shuka Minerals PLC - Africa-focused mine operator and developer - Receives interim unconditional authorisation from the Competition & Consumer Protection Commission in Zambia to acquire Leopard Exploration & Mining Ltd. Leopard Exploration is a Zambian mining and exploration company that owns the Kabwe zinc mine. Read More
(Alliance News) - Shuka Minerals PLC said on Thursday it plans to restart its Rukwa coal mine in Tanzania, noting that the capital expenditure required to restore production there is "modest". Read More
(Alliance News) - Shuka Minerals PLC reported on Wednesday it will debut on the Johannesburg Stock Exchange on May 22, as it seeks to broaden its potential investor pool. Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News: Read More
(Alliance News) - Stock prices in London closed decidedly lower on Friday, as investors continued to digest US President Donald Trump's new tariffs and were newly rattled after China responded in kind. Read More
(Alliance News) - The following stocks are the leading risers and fallers on AIM on Friday. Read More
(Alliance News) - London opened in the red on Friday, continuing its downturn alongside global peers as investors await retaliatory action to US tariffs from affected countries. Read More
Shuka Minerals PLC - Africa-focused mine operator and developer - Hails regulatory approvals in Zambia of its planned acquisition of Zambian mining and exploration company Leopard Exploration & Mining Ltd, and the Kabwe zinc mine in central Zambia. Shuka confirms it has received all but one regulatory approval required to complete the acquisition. The outstanding approval is from the Competition & Consumer Protection Commission, which Shuka's lawyers in Zambia expect to be received in the second quarter of 2025. Due to the delay of the approval, Leopard Exploration shareholders and Shuka have agreed to extend the completion date by 90 days to June 11. No penalties or fees were incurred for the extension, Shuka highlights. Read More
Shuka Minerals PLC - African-focused mine operator and developer - Provides update on the proposed acquisition of the Zambian mining and exploration company, Leopard Exploration and Mining Ltd and the Kabwe zinc mine. Hopes to complete the Kabwe acquisition ahead of the expected March 2025 completion date and is undertaking preparatory work to drive the project forward following completion. Technical site visits have been undertaken in Zambia and meetings in Lusaka and South Africa have also been held with key stakeholders and the company's existing, and potentially new, providers of finance. Read More
Shuka Minerals PLC - African-focused mine operator and developer - Shares nearly halve as it warns that it has sufficient cash in the bank only until the end of October. Shuka serves an initial drawdown notice for GBP500,000 of a GBP2 million unsecured convertible note instrument agreed with AUO Commercial Brokerage LLC back in May. However, AUO says its investment capital is tied up in other transactions that are taking longer than expected to conclude. Therefore, it doesn't have access to the funds requested by Shuka. AUO is a United Arab Emirates-based investment house owned by Shuka Chair Quinton Van Der Burgh. "AUO has advised the company that it remains committed to its obligations under the CLN and is endeavouring to raise the necessary funding in the short term to satisfy the initial drawdown, although it has not been able to provide an indication on timing for such funds being made available," Shuka says. Read More
(Alliance News) - The following stocks are the leading risers and fallers on AIM on Tuesday. Read More