Shuka Minerals PLC - Africa-focused mine operator and developer - Says it has received laboratory results for all five holes drilled in the pit 2 zone of the Kabwe zinc mine. Based on a 5% zinc grade cut-off, which Shuka has deemed more appropriate than the historical 10% cut-off, the company is eyeing a significant increase in historically reported and current resources. Read More
Shuka Minerals PLC - Africa-focused mine operator and developer - Agrees to an assignment by Gathoni Muchai Investments Ltd of the remaining portion of the Gathoni convertible loan amounting to GBP163,334 to an Australian mining investor and to Shuka Chief Executive Officer Richard Lloyd. The assignment of GBP63,334 of the loan to the Australian investor will be converted into up to 1.6 million new Shuka shares at 4 pence each. The assignment of GBP100,000 of the loan to Lloyd will be converted into up to 2.5 million shares. Both the investor and the CEO intend to convert the loan shortly after completing the assignment. Shuka says it will grant them warrants to subscribe for up to a further 4.1 million new shares at 8p. Read More
Shuka Minerals PLC - Africa-focused mine operator and developer - Agrees to an assignment by Gathoni Muchai Investments Ltd of a major portion of the remaining Gathoni convertible loan to RAB Capital Ltd. Says the assignment of GBP400,000 of the loan, plus the interest of GBP19,648 for the months of July and August, will enable RAB to convert for up to 10.5 million new shares at a price of 4 pence each. Read More
Shuka Minerals PLC - Africa-focused mine operator and developer - Agrees to an assignment by Gathoni Muchai Investments Ltd of a portion of the Gathoni convertible loan to four South African strategic investors. The assignment of about GBP800,000 gross of the loan will enable new investors under the original terms of the loan to convert for up to 20.0 million new shares at 4 pence apiece. Investors intend to convert the loan shortly after the assignment, it says. Read More
Shuka Minerals PLC - Africa-focused mine operator and developer - Identifies the new ore body after completing eleventh and final drill hole in the newly identified area south of the unmined 'speaks' and 'mine club' zones at the Kabwe zinc mine in Zambia. "Again we have extremely high grade, from surface mineralisation," Shuka Chief Executive Officer Richard Lloyd says. Adds 70% Zinc in situ grades are among the highest grades recorded worldwide at any orebody. Read More
Shuka Minerals PLC - Africa-focused mine operator and developer - Completes the tenth drill hole KBDD10 in the newly identified area south of the unmined 'speaks' and 'mine club' zones at the Kabwe zinc mine in Zambia. KBDD10 represents the second of three exploratory drill holes, targeting this new ore body. Shuka conducted the drilling in late May. Says exploration holes continue to provide "encouraging and valuable" new insight into the broader Kabwe orebody, suggesting it is also materially larger than was first modelled, Shuka Chief Executive Officer Richard Lloyd says. Says copper grades are detected, confirming the historically reported copper mineralisation. Read More
Shuka Minerals PLC - Africa-focused mine operator and developer - Completes the ninth drill hole slightly to the south of the previously unmined 'speaks' and 'mine club' zones at the Kabwe zinc mine in Zambia. "To have zinc, lead, copper and vanadium mineralisation existing in the same intervals suggest much richer mineral bearing fluids and perhaps a zonal nature of the wider orebody," Shuka Chief Executive Officer Richard Lloyd says. "These steep exploration holes continue to give us confidence in the continuity of the Kabwe orebody." The company says it hopes to hit a lot more high-grade zinc mineralisation, as well as copper. Read More
Shuka Minerals PLC - Africa-focused mine operator and developer - Conditionally raises GBP750,000 from a subscription for 18.75 million new shares at 4 pence each by Zambian-based investment company Menel Energy & Resources Ltd. The first tranche of GBP375,000 has been received, Shuka says, and the second one is expected by August 31. Shuka intends to grant Menel warrants to subscribe for up to a further 18.75 million new shares at an exercise price of 8p. Read More
Shuka Minerals PLC - Africa-focused mine operator and developer - Completes the eighth drill hole in the previously unmined "speaks" and "mine club" zones at the Kabwe zinc mine in Zambia. "It is encouraging to see the orebody thicken and show its copper mineralisation as we head into the more central area of Speaks/Mine Club," Shuka Chief Executive Officer Richard Lloyd says, adding: "These exploration holes are giving us confidence in north-south continuity along the entire orebody." Shuka began its phase-one drilling programme in May. Read More
Shuka Minerals PLC - Africa-focused mine operator and developer - Finishes the fifth drill hole at the number-two ore body at the Kabwe zinc mine in Zambia. Says it has started a sixth hole to intersect a different, previously unexploited orebody in the "Speaks" about one kilometre from the Pit 2 area where it has been focusing its studies to date. Read More
(Alliance News) - Shuka Minerals PLC said on Tuesday it was focused on restarting Rukwa coal mine in Tanzania and the development of newly acquired Kabwe zinc mine in Zambia. Read More
Shuka Minerals PLC - Africa-focused mine operator and developer - Completes the fourth drill hole at the number-two ore body at the Kabwe zinc mine in Zambia. Says it has started a fifth deep hole. The first test took place late last month. "Despite terminating the hole slightly shallower than expected, given the intersection with historical mine workings, I am delighted to report yet another positive drill result with excellent grades," Shuka Chief Executive Officer Richard Lloyd says. "The holes of our ongoing campaign continue to deliver some amazing [zinc] grades, with every hole and intersection we are learning more and more about the orebody," Lloyd adds. Read More
Shuka Minerals PLC - Africa-focused mine operator and developer - Completes the third drill hole at the No. 2 ore body at the Kabwe zinc mine in Zambia. Says latest Kabwe drilling hits another high-grade zone. Shuka finished second drilling on Wednesday last week, and the first test took place late last month. Read More
Shuka Minerals PLC - Africa-focused mine operator and developer - Raises GBP150,000 through a subscription for 3.75 million new shares at 4 pence each. Notes that the subscription comes after it was approached by a mining investor. The subscription is on the same terms as the placing announced in January. The new shares come with 3.75 million warrants, exercisable at 8 pence per new share. Also issues 225,000 new shares at 4p apiece to settle fees due to Marc Nally, its consultant. Read More
Shuka Minerals PLC - Africa-focused mine operator and developer - Says its first drill hole at the Kabwe zinc mine in Zambia notes "high grade" results. First drill hole exceeds pre-drill expectations and second drill hole now underway, it says. The initial diamond drill hole was planned at 65 degrees at a bearing of 130 degrees and was planned to intersect the ore body below the current workings at a depth of about 220 metres to 230 metres. "With this planning and the skill of the Ox Drilling operators, we hit the target spot on and the results are well beyond our expectations," Shuka Chief Executive Officer Richard Lloyd says. Ox Drilling Ltd is the drilling contractor. Read More
Shuka Minerals PLC - Africa-focused mine operator and developer - Says it has started the phase one drilling programme at the Kabwe zinc mine. The company aims to increase the existing resource by 50%, subject to the results of this drilling programme. Late last month, Shuka said it had appointed a drilling contractor Ox Drilling Ltd. The drilling comes after Shuka in January completed its acquisition of Leopard Exploration & Mining Ltd, which owns and operates Kabwe zinc mine. Read More
(Alliance News) - Shuka Minerals PLC on Wednesday said it has appointed a drilling contractor, as it looks to commence exploration drilling at the Kabwe zinc mine in Zambia. Read More
(Alliance News) - The following are the leading risers and fallers among London Main Market small-cap and AIM stocks on Friday. Read More
Shuka Minerals PLC - Africa-focused mine operator and developer - Says Chair Quinton van der Burgh and Non-Executive Director Marcel Nally have stepped down from the board, with immediate effect. Their departure from the board comes after conclusion of an annual general meeting held on Modnay. Says Nally will remain as a technical consultant to the company. Edward Ruheni did not stand for re-election at the AGM. Richard Hawken and Margaret Mudenda joined the board as non-executive directors last month. 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