Shuka Minerals PLC - Africa-focused mine operator and developer - Expects loan funds from Gathoni Muchai Investments Ltd to proceed this week after a delay. The loan to facilitate Shuka’s acquisition of Leopard Exploration & Mining Ltd in Zambia was held up due to administrative and regulatory matters in Kenya. Early in July, Gathoni Muchai agreed to increase its loan to Shuka by £1.5 million to £2 million. This extension covered the balance of $1.35 million or £1.0 million due to vendors of Leopard Exploration.
Current stock price in London: 5.59 pence, down 2.8% on Monday
12-month change: down 17%
Current stock price in Johannesburg: R 1.25
12-month change: up 17% since listing on JSE in May
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