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Shuka Minerals PLC - Africa-focused mine operator and developer - Says it shortly expects to receive £815,000 from African-focused investment banking and corporate finance group, Gathoni Muchai Investments Ltd. Notes that it received a copy of a payment transfer instruction on Monday, as it awaits the balance of a loan from Gathoni Muchai.
Shuka requires this balance to satisfy the $1.4 million consideration to acquire Leopard Exploration & Mining Ltd in Zambia. Early in July last year, Gathoni Muchai agreed to increase its loan to Shuka by £1.5 million to £2 million. The loan has been delayed several times due to administrative and regulatory matters in Kenya.
Current stock price in Johannesburg: R 1.45, up 0.7% on Monday
12-month change: listed on JSE in May 2025
Stock price in London: 6.50 pence, up 13% on Monday
12-month change: up 24%
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