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Shuka Minerals PLC - Africa-focused mine operator and developer - Says it expects Gathoni Muchai Investments Ltd to pay the balance of its loan to Shuka this month, instead of November. The balance is about £450,000, Last month, Shuka received an initial tranche of $300,000 from Gathoni Muchai under the increased loan facility. 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. Shuka says it remains in regular contact with Gathoni Muchai over the status of funds due and its expectation is that the balance of the £2 million loan facility will be paid to it by mid-December. Current stock price in London: 5.00 pence, up 11% on Monday afternoon 12-month change: down 29% Current stock price in Johannesburg: R 1.32 12-month change: down 12% since listing on JSE in May Copyright 2025 Alliance News Ltd. All Rights Reserved.
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