Shuka Minerals Eyes Lucrative East African Acquisition

Edenville Energy (GB:SKA) has released an update.

Shuka Minerals Plc, an African mine operator, has announced the completion of due diligence on a significant East African base metals project with resources valued at approximately $1.98 billion, and is negotiating an acquisition with potential pre-tax cashflow of $1.84 billion. Alongside, the company has secured a £2 million convertible loan to support the acquisition and general capital needs. Additionally, there are changes to the board, including the appointment of Mr. Edward Ruheni and a consultancy agreement with the former director, Jason Brewer.

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