Receipt of initial tranche of financing for Kabwe
Shuka Minerals Plc has received an initial tranche of $300,000 from Gathoni Muchai Investments Limited as part of the financing for its proposed acquisition of Leopard Exploration and Mining Limited and the Kabwe Zinc Mine. GMI has confirmed that the remaining funds required to meet the $1.35 million acquisition consideration will be advanced before the end of November 2025.
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Shuka Minerals Plc (AIM/AltX: SKA), an African focused mine operator and developer, is pleased to update on the financing for the Company's proposed acquisition ("Acquisition") of the Zambian mining and exploration company, Leopard Exploration and Mining Limited ("LEM") and the Kabwe Zinc Mine ("Kabwe Mine") located in central Zambia.
Further to the Company's announcement on 10 November 2025, an initial tranche of $300,000 has been received by Shuka from Gathoni Muchai Investments Limited ("GMI") under the increased loan facility. As previously reported, GMI have confirmed the balance of the funds required to satisfy the $1.35 million consideration due under the Acquisition will be advanced before the end of November 2025. A further announcement will be made in due course.
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