26th Jan 2026 07:55
Shuka Minerals PLC - Africa-focused mine operator and developer - Issues 2.76 million new shares to Gathoni Muchai Investments Ltd. These will settle 3% establishment fee linked to the unsecured loan signed in June last year, and historic fees related to Gathoni Muchai's consultancy agreement. To date, GBP1.12 million has been drawn down under the Gathoni Muchai loan, with a further GBP385,000 remaining undrawn.
Shuka also says it has issued 2.1 million new shares to CEO Richard Lloyd and 1.7 million shares to Non-Executive Director Marc Nally at 4p apiece to cover historic salaries due to them. Shuka this month wrapped up its acquisition of Leopard Exploration & Mining Ltd in Zambia. Shuka raised GBP1.0 million through the placing of 25.0 million new shares at 4 pence each. It also said participants in the placing would be issued one warrant for each placing share, raising an additional GBP2 million.
Current stock price in Johannesburg: ZAR1.06
12-month change: listed on JSE in May 2025
Stock price in London: 3.85 pence
12-month change: down 15%
By Artwell Dlamini, Alliance News senior reporter South Africa
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