Business
Annual Results for the year ended 31 December 2023
Annual Results for the year ended 31 December 2023.
About this update from Shuka Minerals Plc
[{"type":"text","content":"\n\n27 June 2024\n \nShuka Minerals Plc\n \n(\"Shuka\" or the \"Company\")\n \nAnnual Results for the year ended 31 December 2023\n \nShuka Minerals Plc (AIM: SKA), an African-focused mine operator and developer, announces its audited results for the year ended 31 December 2023.\n \nEnquiries:\n \n\n\n\n\nShuka Minerals Plc\nNoel Lyons - CEO\n \n\n\n+44 (0) 7912 514 809\n \n\n\n\n\nStrand Hanson Limited\nFinancial and Nominated Adviser\nJames Harris | Richard Johnson\n \n\n\n+44 (0) 20 7409 3494\n\n\n\n\nTavira Securities Limited\nJoint Broker\nOliver Stansfield | Jonathan Evans\n\n\n+44 (0) 20 7100 5100\n\n\n\n\n \nPeterhouse Capital Limited\nJoint Broker\nCharles Goodfellow | Duncan Vasey\n \n\n\n \n+44 (0)20 7469 0930\n\n\n\n\n \nThe 2023 Annual Report and Accounts is being posted to shareholders and will shortly be available on the Company's website at: https://www.shukaminerals.com/circularreports\n \nThis announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (\"MAR\") and is disclosed in accordance with the Company's obligations under Article 17 of MAR.\n \n \nCHAIRMAN'S REPORT\n \nIn the year ending 31 December 2023, the Company continued its transition in terms of both operations and management, together with a refocus on future strategy and direction and board changes. During this period of change I assumed the role of Non-Executive Chairman. This ongoing refocus of the Company has continued into the first half of 2024 with a further major strategic financial commitment to the Company and material progress on a potential acquisition.\n \nOn site in Tanzania, the changes in both 2022 and 2023 to operational management have resulted in more efficient management of the Rukwa coal asset where demand for output has remained encouraging although production and output has continued to be a challenge as has been the case historically with this coal asset. Without a meaningful amount of investment this is unlikely to change. Production in 2023 amounted to 18,520 tonnes, achieving sales of $194,346. A tight rein is kept on costs and we were pleased to have resolved the legacy dispute with Upe...