Dow Jones Africa Titans 50 Index

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15/06	UK's Sound Energy PLC sells Moroccan gas assets to Managem	RE
14/06	G7 leaders launch initiative for global food security	RE

Shuka Minerals to move forward with East Africa project

May 25, 2024 at 01:50 am IST

Shuka Minerals PLC - London-based mining company with operations in Africa - Announces Friday that it will proceed with its acquisition of a major brownfield base metals project located in East Africa, following a month-long review. The site has an in-situ value of USD1.98 billion and an internal rate of return of 122%.

To fund the acquisition, Shuka has entered into a EUR2.0 million unsecured convertible loan note agreement with Hsinchu-based AUO Commercial Brokerage LLC, a wholly-owned subsidiary of Q Global Commodities Group, the Sandhurst-based investment fund. The notes have a subscription date of 31 March 2025 and annual coupon of 3%, with a redemption date of 31 March 2026.

Current share price: 10.04 pence

12-month change: up 83%

By Aidan Lane, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Stocks mentioned in the article

Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
DOW JONES AFRICA TITANS 50 INDEX	459 PTS	+0.31%	-0.71%	-
S&P AFRICA 40 INDEX	156.9 PTS	+0.24%	-0.88%	-
AUO CORPORATION	18.3 TWD	+1.95%	+1.39%	4.33B
SHUKA MINERALS PLC	8.5 GBX	-2.86%	-6.85%	6.49M

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