Update on financing for Kabwe transaction
Shuka Minerals Plc (AIM/AltX: SKA) has confirmed that Gathoni Muchai Investments Limited will provide the remaining funding required for the acquisition of the Kabwe Zinc Mine through an increase in its existing loan facility.
The additional financing will allow Shuka to meet the outstanding US$1.05 million cash consideration payable to the vendors and increase its interest in Leopard Exploration and Mining Limited, the owner of the Kabwe Mine.
Shuka said completion of all tranches of the Kabwe Zinc Mine acquisition is now expected by 31 December 2025.
The Company has today received confirmation from GMI that, in line with prior announcements, it will continue, throughout December 2025, to advance to the Company the full balance of the funds pursuant to the Increased GMI Loan (announced on 1 July 2025), allowing the Company to satisfy the $1.05m balance of cash consideration due to the LEM vendors.
For Enquiries:
|
Shuka Minerals Plc Richard Lloyd – CEO |
+44 (0) 7990 503007 |
