Shuka Minerals PLC - Africa-focused mine operator and developer - Receives an initial tranche of $300,000 from Gathoni Muchai Investments Ltd under the increased loan facility. The loan facilitates Shuka’s acquisition of Leopard Exploration & Mining Ltd in Zambia. Early in July, 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. Shuka says Gathoni Muchai has confirmed that the balance of the funds required to satisfy the $1.35 million consideration due under the acquisition will be advanced before the end of this month.
Current stock price in Johannesburg: R 1.45
12-month change: down 3.3% since listing on JSE in May
Current stock price in London: 4.78 pence
12-month change: down 38%
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