Source - Alliance News

Shuka Minerals PLC - Africa-focused mine operator and developer - Says the first half of 2023 was ‘transformative’ for the company as it reports a narrowed interim loss and higher revenue. Pretax loss narrows to £746,323 in the first half of 2023 from £820,640 the previous year. Revenue rises to £68,926 from £56,146. Says the most notable development during the period was the investment it was able to secure with Q Global Commodities Group, which it describes as one of South Africa’s leading independent commodity, mining, logistics and investment funds, and with Gathoni Muchai Investments Ltd, an East Africa-based mining investment group. Says this investment has ensured that it has been able to fund its ongoing working capital needs and corporate and mining development activities.

Current stock price: 9.01 pence, down 7.6% in London on Monday morning

12-month change: down 14%

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