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Mm's do not give away free money so there must be a huge delayed buy at 11p to make a mm go 10.5p bid with a online quote to sell when highest price paid so far is 10.39p, has something leaked ?
Looks like could be about to go on a lovely run higher ahead of major news
Looks very attractive around 10p
Small volume ticking it up this morning
Watch this space
Hawk - you could always try our old mate Tim or Florence
https://www.investor-focus.co.uk/team/
But given we've had naff all news since September's interims, a RNS update might be nice Noel.........
SP7 - where have they said they have stopped spending money on Rukwa? That's pretty fundamental to our business and would need a respective RNS. It certainly wasn't mentioned in the Interims and it's not mentioned on the website.
Website - "Shuka Minerals is embarking on an exciting journey of discovery and development in Tanzania, Zambia, South Africa, and other African countries rich in copper, lead, and zinc deposits. Our projects are carefully chosen based on extensive geological surveys and thorough feasibility studies, ensuring that we target high-potential areas that align with our sustainable mining principles." And the only named project is......Rukwa.
That's guff in my view - it's talk, a vision. Where's the hard evidence? Nowhere. We've had years of jam tomorrow and empty promises - it's no different, at the moment.
And in the interims "The strategic investment received from Gathoni Muchai Investments and Q Global Commodities has ensured that the Company has been able to fund its ongoing working capital needs and corporate and mining development activities, and importantly fund costs associated with the evaluation of potential complementary advanced mining and mine development projects across Africa with the support and active involvement of these two new major shareholders."
It's all hot air at the moment and has been for nearly 9months - it's simply not good enough, notably given our history on comms here.
The fundamental problem, of course, is the longer we carry on as we are the more that so called investment money disappears into sustaining Rukwa. And we've seen that happen before too.
It needs proper news on what we're actually up to which can be done without naming potential acquisitions or compromising commercial confidentiality, not posts on X or other social media sites.
Thanks SP7, I was aware of that, but just wondering if anyone has emailed them and got some sort of reply.
Hi Hawkander - you can always try the phone number for JB shown on the last RNS.
GreenWolf I understand your concerns. I understand that they stopped spending money on Rukwa soon after QvanderB and JB acquired their controlling interest in the company having decided it was basically of no economic value. So, they have been spending as little as need be.
Shuka’s website says that they will be looking to acquire zinc, lead and copper projects and the resource on QGC’s website that has been there for some considerable time now is a zinc and lead project. The company has tweeted numerous times regarding zinc and copper. I believe in this instance 2+2 does =4.
We shall see. If I’m proved wrong so be it. QGC and JB did not invest for the fun of it. Yes it’s taken ages, but stick with it and shortly you should be rewarded.
The trades at 9.4 and 9.42 are buys. Bargain price.
Has anyone had any contact via email with Shuka regarding news of any sort and if so, which is the best email to get any response? Thanks in advance
Getting to be a bit of a joke here nothing from the bod at all.
Sp7 - your post from 23 Feb - how are we not wasting any money on Rukwa?
The interims suggest we're spending c£120k per month (£740k loss) on operations. We raised £1.47m in June 2023 - how much of that is left to actually invest.....
A new vision was trumpeted last year - where exactly are we - as far as I can see, it's still all talk....
I've been here a very long time, along with a few other hardcore gamblers, sorry investors and seen a lot of the "new dawn" stuff several times over. If you believed the hype in October 2017, I'd have been a multi-millionaire by now, easily.
And why does anything that is on QGCs website have a direct bearing on Shuka? It's not on our website? There is nothing really on our website except Rukwa. And I dread to think exactly how many millions that has lost us over the years.
We need more tangible news, quickly.
This has been on QGC's website for many months :-
QGC is currently in the end stage negotiations in respect of a high-grade Zinc and Lead asset in the heart of Zambia.
Which Project site has produced results of the presence of Zinc at an average grade of 13.3% and Lead at an average grade of 3.3% with the reserve set to yield approximately 6.8Mt. The site further presents opportunities for sulphide ore mining as well as further exploration in the hopes of increasing the current declared yield.
This transaction will represent a value growth increase from 801 Million USD to 1.03 Billion USD.
Rumours are that it seems that this transaction is at last about to be completed. If so, it will be transformational. This is not some small acquisition when it has a value growth of over $200m.
With an mcap of just over £5m at present, imho any buys at under 10p are a bargain and as the company has a small float, I don't expect the SP to hang around 10p on the day of the announcement.
Yes I believe Edl had to relinquish licences due to lack of money.
What they were I cannot say but I am sure they are in an early RNS but they have gone.
So hoping SKA can revive And start giving the share some value.
Rukwa coal mine is a write-off. Poor quality of coal and not on anyone's buying list. So, you can just forget about that. NO money is being wasted on it.
Hold for zinc acquisition, as indicated by the company's tweets. As I and another have said look at QGC's website for the possible acquisition. Patience will be rewarded.
Dare I say it, time simply isn't on our side.
Am I right in thinking our last Rukwa operational update was with the Interims last September?
Very true saus not even Jam tomorrow not a sausage ☹️
....came into effect on the 1st Sept 2023, now almost 6 months later what has been achieved? Where are the new markets talked about? At least when that Rufus Short was in charge we got the occasional jam tomorrow RNS. This lot we get nothing about what is going on. Have we sold any coal this year?
Why would we have priority Bullish?
My understanding is we would still have priority over obtaining a licence for our area
so no need for concern as far as I am concerned
Well, I did say someone would correct me if I had got the wrong end of the stick.
Although the Tanzanian Mining portal does still show it as being an active licence.
But that area, and its surroundings, could therefore still be up for grabs by some enterprising outfit.
A little knowledge is a dangerous thing....
PL6098 was previously relinquished in August 2018.
Missed out the nice view of the faulting, doh!
https://www.flickr.com/photos/194934344@N06/53530822920/in/dateposted-public/
Another view showing the faulting a little better. Edenville to the bottom right.
Noble are planning to drill (to around 300M)and build a small pilot plant this summer at Mbelele-1.
PURA carried out seismic and drilling at Eyasi over the last couple of years. Seismic over quite a large area cost £2.5M, drilling 3 wells using a local water well rig (Noble look like this is what they'll be using) to 300M cost £0.625M. Edenvilles licence here is quite small. I'd imaging they could do seismic and drill a couple of shallow wells and still get change out of £4M- £5M.
Wouldn't cost much to prove up any shallow helium such as Noble says they have, 30km south.
I think the licence will probably stay 70/30 on paper, it would be easier if Upendo simply assigned their rights as part of the settlement.
Of course you'd still have to get the licence to include helium, as it is coal atm, but given the buzz around Rukwa and helium that might not take too long.
Early stage, but settling the Upendo dispute a few weeks after the two helium discoveries could be a pointer.
Yep spot on Skitt. The market is largely ignoring the significance of the big Helium finds in the Rukwa area.
SKA absolutely have a seat at the table now and iexpect things to devlop shortly on that front to add another string to the bow
Easy buy here around 10p near the lows. James Brewer is a smart guy