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Shuka - update on Kabwe financing
Shuka Minerals plc provided an update on the financing for the Company's proposed acquisition ("Acquisition") of the Zambian mining and exploration company, Leopard Exploration and Mining Ltd. ("LEM") and the Kabwe Zinc Mine ("Kabwe Mine") located in central Zambia.
Further to the Company's announcement on 4 September 2025, Gathoni Muchai Investments Ltd. ("GMI") has informed the Company that remittance of the funds, pursuant to the increased loan entered into on 30 June 2025, to be used to satisfy the USD1.35m balance of cash consideration due to the LEM vendors, has experienced a further slight delay, while they complete alternate means to expedite payment. GMI have confirmed to the Company that they expect to resolve these matters prior to the end of September 2025. GMI have further confirmed to the Company their financial capacity to meet their obligations under the increased GMI loan facility.
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