Business
Interim Results for the six months to 30 June 2025
Shuka Minerals PLC reported interim results for the six months ended June 30, 2025. Gathoni Muchai Investments committed a further £1.5 million investment through an unsecured loan facility, bringing their total commitment to £2 million. The £2 million Convertible Loan Note from AUO Commercial Brokerage LLC has been extended by 12 months to March 2026, with repayment or conversion extended to March 2027. The company reported a loss after taxation of £376,370 and a total comprehensive loss for the period of £851,508. Revenue was absent, while cost of sales amounted to £39,430. Loss per share was (0.53) pence. Property, plant, and equipment totaled £5,041,065 and intangible assets were £309,806. Cash and cash equivalents stood at £16,622. 1,625,000 shares were issued on May 5, 2025 for 8p per share. Disclaimer*
About this update from Shuka Minerals Plc
[{"type":"text","content":"\n\n30th September 2025\nSHUKA MINERALS PLC\n(\"Shuka\" or the \"Company\")\n \nInterim Results for the six months to 30 June 2025\n \n \nShuka Minerals plc (AIM/AltX: SKA), the company developing a coal project in southwest Tanzania, and looking to advance the Kabwe Lead Zinc Silver mine in central Zambia, announces the Company's unaudited interim results for the six months ended 30 June 2025.\n \nChief Executive's report\n \nI am pleased to present the interim results for the six-month period from 1 January 2025 to 30 June 2025. The period was a transformative one for the Company and reflects my first 6 months as CEO where consolidation and redirection in terms of funding and operational focus has been key. From a funding perspective, shortly after the period end major (c.20%) shareholders Gathoni Muchai Investments (\"GMI\") committed a further £1.5m investment thorough an unsecured loan facility, bringing their total investment commitment to £2m. Application of funds, once fully drawn, will be applied towards working capital, the settlement of the remaining purchase consideration to conclude the acquisition of the Kabwe Project from Leopard Exploration and Mining (\"LEM\"), the restart of the Rukwa mine and initial exploration at Kabwe. The initial tranche of £500,000 has, post period, been fully drawn.\n \nDrawdown notices under Tranche 2 have commenced post period and, as updated to the market on 18 September 2025, GMI are in process of completing alternate means to expedite payment to the Company. GMI have advised that the intended transfer by alternate means will now be delayed beyond month end as originally indicated, but that they expect to conclude the transfer by 15th October 2025.\n \nThe availability of the £2m Convertible Loan Note (\"CLN\") provided by AUO Commercial Brokerage LLC based in Dubai has been extended by a period of 12 months to March 2026 and the repayment, or conversion date, extended to March 2027. AUO has confirmed that it intends to honour its commitments under the CLN should it be called upon to do so.\n \nIn conjunction with these strategic investments, a restructure of the Board of Directors is currently being planned, which is expected to be detailed at the time of the forthcoming AGM. The planned Non-executive new board appointments are expected to bri...