1st Dec 2025 14:15
Shuka Minerals PLC - Africa-focused mine operator and developer - Says it expects Gathoni Muchai Investments Ltd to pay the balance of its loan to Shuka this month, instead of November. The balance is about GBP450,000, Last month, Shuka received an initial tranche of USD300,000 from Gathoni Muchai under the increased loan facility. Early in July, Gathoni Muchai agreed to increase its loan to Shuka by GBP1.5 million to GBP2 million. The loan has been delayed several times due to administrative and regulatory matters in Kenya. Shuka says Gathoni Muchai has confirmed that the balance of the funds required to satisfy the USD1.35 million consideration due under the acquisition will be advanced before the end of this month.
Shuka says it remains in regular contact with Gathoni Muchai over the status of funds due and its expectation is that the balance of the GBP2 million loan facility will be paid to it by mid-December.
Current stock price in London: 5.00 pence, up 11% on Monday afternoon
12-month change: down 29%
Current stock price in Johannesburg: ZAR1.32
12-month change: down 12% since listing on JSE in May
By Artwell Dlamini, Alliance News senior reporter South Africa
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