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An announcement from Edenville Energy ( (GB:SKA) ) is now available.
Shuka Minerals Plc has raised £1 million through a placing of 25 million new shares at 4p each, accompanied by investor and broker warrants, to fund the completion of its acquisition of Leopard Exploration and Mining and the Kabwe Zinc Project in Zambia, as well as to support project development and general working capital. With funds from both the placing and a GMI loan, the company expects to secure 100% ownership of Kabwe, a historically high-grade and globally significant zinc mine with an independently estimated remaining resource valued at over US$2 billion in-situ, and will launch a 2026 work programme including confirmatory drilling, geophysics, infrastructure upgrades and environmental studies aimed at expanding and better defining the resource base and updating the JORC Resource later in 2026. In parallel, Shuka is advancing its Rukwa coal mine in Tanzania with modest capital outlay to restore operations and ramp up washed coal production to about 5,000 tonnes per month, supported by offtake discussions with East African and Rwandan cement producers, positioning Rukwa as a potential near-term cash generator while Kabwe is developed into the company’s flagship asset.
The most recent analyst rating on (GB:SKA) stock is a Hold with a £4.50 price target. To see the full list of analyst forecasts on Edenville Energy stock, see the GB:SKA Stock Forecast page.
Spark’s Take on GB:SKA Stock
According to Spark, TipRanks’ AI Analyst, GB:SKA is a Neutral.
The overall stock score is primarily impacted by significant financial challenges and weak technical indicators. While the acquisition of the Kabwe Zinc Mine presents a potential growth opportunity, funding delays and negative valuation metrics weigh heavily on the stock’s attractiveness.
To see Spark’s full report on GB:SKA stock, click here.
More about Edenville Energy
Shuka Minerals Plc is an African-focused mine operator and developer listed on AIM in London and AltX in Johannesburg, with core assets including the Kabwe Zinc Project in Zambia and the Rukwa coal project in Tanzania. The company is focused on developing base metals, particularly zinc and lead at Kabwe, and thermal coal production at Rukwa to generate cash flow, targeting both regional industrial users such as cement plants and broader commodity markets.
Average Trading Volume: 221,753
Technical Sentiment Signal: Hold
Current Market Cap: £4.21M
For a thorough assessment of SKA stock, go to TipRanks’ Stock Analysis page.