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Started: saintpeter7, 14 Jun 2024 12:18
Last post: saintpeter7, 19 Jun 2024 23:51
Great find Teaye72. Perhaps we are now closer to concluding the acquisition.
I believe PK chairs the MLC.
And according to the latest MLC Statement...
Ministerial approval is now required. Indications are that it will be received, but naturally no guarantees.
Kabwe will be a major undertaking, but with the details given in the last RNS, you know the size of the resource and with AUO funding available I suspect, it will have been well worth waiting for.
Started: Sausageonstick, 12 Jun 2024 10:23
Last post: saintpeter7, 12 Jun 2024 16:47
I suspect that there will be a copper acquisition as well as Kabwe. QGC and JB never just do one project at a time as they take advantage of near term production assets which need AUO capital to finance them.
Https://twitter.com/Shukaminerals_/status/1800820535536070819
Are we moving into copper?
Started: saintpeter7, 12 Jun 2024 00:06
Last post: davey50, 12 Jun 2024 10:16
So illiquid this one, just one or two trades can move the price 5-10% in either direction. I've just added 30k more at 8.44p on the weakness, think that is lowest I have ever seen, with the recent convertable raise done at 15p it's a half price sale almost
Sorry too late at night. I meant Kabwe not Rukwa.
From their 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.
The latest RNS gave us detail of the first acquisition fulfilling the above objective.
We can identify it as being Rukwa zinc, lead and silver mine in Zambia.
Started: BILLYBLOGS, 11 Jun 2024 11:13
Last post: BILLYBLOGS, 11 Jun 2024 11:13
According to the Shuka Minerals website Edenville are still operating the coal mine and secondly the 10,000 tonnes guff has been taken out of the write up.
Started: esquimo, 5 Jun 2024 03:24
Last post: esquimo, 5 Jun 2024 21:53
P.S. to that post, I've been patient for about 14yrs lol .
St P7, March 18th RNS states that the mining staff had returned to start a new production cycle due to the robust demand for coal, no mention of the order book though. We shall see what the results and update say.
I'm not holding my breath.
Results still around another 3 weeks away, also 605k share sell delayed isn't great. We've all been very paitence but that sell doesn't fill me with confidence and is a red flag ffs
Hi Esquimo
They are not producing any coal as far as I am aware. That is a dead resource for the company.
I expect the long awaited RNS announcing the acquisition of the Kabwe Zinc and Lead licence will be with us in the next two weeks. Also, it wouldn't surprise me to find that QGC through their subsidiary AUO will provide the capital for the equipment needed to open up the mine, dewater it and get it ready to produce again.
As has been seen from the last RNS, this mine has a huge value.
The mine's historical non-JORC compliant resources have been independently verified by the Company's retained technical experts and which have an in-situ value of approx. US$1.98 billion based on current London Metal Exchange prices, and where preliminary economic analyses has estimated pre-tax cashflow of US$1.84 billion, NPV10 US$0.56 billion and an IRR of 112% based on the development of two of the five existing non-JORC compliant historical resources.
Just a little more patience and your investment could easily bag from here.
With luck a positive forward looking statement will be included.
We might have some coal out of the gates to satisfy the stated robust demand something they have yet to achieve since clearing the first layer of overburden, a lifetime ago.
Started: tomhuk2000, 31 May 2024 08:37
Last post: tomhuk2000, 31 May 2024 08:37
“Once again, great to see the Fujax relationship is going well at #MARU, it’s only logical that Fujax will be eyeing up activities at #SKA, this bodes very well for future lead & zinc offtake agreements in my opinion.
@JB_MiningAfrica @Shukaminerals_
lse.co.uk/rns/MARU.PL/of…”
https://x.com/redditdeluxe/status/1796435577241501895?s=46&t=IHEn1TE0c7FNFBktt6H8XQ
Started: saintpeter7, 28 May 2024 17:21
Last post: Marcuspd, 29 May 2024 09:16
"What’s a $5m share issue going to do to the price of a £6m mcap with £2m convertible loan notes in the background?"
Eh? You're trying to complain that a £2M CLN at very favourable terms, to buy a $1.8BN resource, will do bad things to the market cap? That's a cracker than one! :) I suspect a $1,800,000,000 resource might increase the MCap a tad from £6M a tad, don't you?
Only 2 reasons for such a post, Bridgedogg1:
a. You didn’t understand the RNS within the context of the company’s current state (let alone the change from EDL)
b. You want to manipulate the price.
Won’t state my guess, but it isn’t “a.”
Only 2 reasons for such a post, Bridgedogg1:
a. You didn’t understand the RNS within the context of the company’s current state (let alone the change from EDL)
b. You want to manipulate the price.
Won’t state my guess, but it isn’t “a.”
Bridgedogg1 your remark on the convertible loan notes is misleading. The company has effectively borrowed £2m which will be converted at 15p in due course and at the cheap rate of 3% per annum; as simple as that, not your typical loan note disaster. This was done to avoid the need for an RTO.
The acquisition cost is not $5m in shares either - it is to be a mixture of shares and cash.
The value of the asset being acquired is far in excess of the amount that is being paid for it. So no dilution for shareholders, just a great deal and a multibagger in the making.
What’s a $5m share issue going to do to the price of a £6m mcap with £2m convertible loan notes in the background?
From another bb.
Lots of due diligence from the NOMAD before allowing that RNS to include the $1.9 billion value in the ground.
Significant value coming here and an easy hold.
Plus the largest shareholder willing to pay 15p/share for funds versus 11p current price.
No doubt he can see where Shuka is headed.
Looking at the trades today I find it hard to believe that the magnitude of Fridays post has had so little effect.
If that RNS had been released this am I think the reaction from traders would have been different, i e. more intense, perhaps that was the the reason for the late release before the long weekend.
Worth having a look at Fridays late rns if your a newbie.
https://www.investegate.co.uk/announcement/rns/shuka-minerals--ska/potential-acquisition-update-cln-and-board-change/8221476
I'm sure Jason will have an interview lined up,he doesn't like wasting good news. That usually sts the price flying.
Started: HawaiifiveO, 26 May 2024 08:18
Last post: HawaiifiveO, 28 May 2024 08:16
This should climb to the 20p range in due course IMO, the circa £6m m/cap is too low.
seriously you need to do more research and understand the people behind this company, who they are and what they have achieved elsewhere.
dilution to shareholders only comes if the acquired assets don't meet up to expectation. this project is a company maker adding enormous value to the company - an independently verified project of almost £2 billion! you don't see an asset like that everyday!
c'mon the project will be acquired. and the £2m in cns will help pay part for the acquisition and getting the project restarted.
do some more work on the project and you will see the huge potential - lead and zinc as well as some nice by-products - silver, vanadium etc.
what a great opportunity that the project is not in production producing revenues otherwise it would cost a lot more!.
any mining project needs exploration, but i'd suggest this project could be in production within a year if you know the aspirations and mining prowess of *****on van de burgh. getting into production is the key driver.
I sense a number of entities have been well and truly caught on the wrong side of the trade (short) on the unexpected late RNS on Friday, oh dear, good luck trying to close positions, remember there will be no bucket shop placing to bail you all out.
This should open well ahead tomorrow, the tiny free float will see to that, the proposed acquisition is probably one of the largest ever announced historically, sector related, for a AIM listed junior.
Page of cups, I think you need tonresesrch Jaspn and Q u I n t o n's projects in a little more detail. They only invest in projects that will start earning profits and dividends in very short timeframes.
Take Marula's "Blesburg" lithium project - QGC involvement announced January 2023 and first production was January 2024.
They do all the mining studies and DD inhouse and start designing and installing production equipment from day 1. You are talking months not years to production and all going well, free cash flow in under a year as all projects they find always have IRR figures over 100%
Glad you mentioned that, as once fully disclosed the potential for plants to be recommissioned. Also Vanadium Pentoxide of around 45k tonnes to be added to the £1.
8 billion resource. So its potential £3 billion asset. We await full disclosure of asset. A lot more imo will be revealed once asset is closed.
Started: tomhuk2000, 26 May 2024 10:41
Last post: HawaiifiveO, 26 May 2024 13:38
Interesting that Reddit investor on X has a target price of 67p (verses my 75p) but also talks about another deal may be in the offing also.
There is no doubt SKA will now come into life having been comatose for the best part of a year.
Here a brief overview of SKA and Fridays after hours RNS
https://x.com/redditdeluxe/status/1794660974278136035?s=46&t=IHEn1TE0c7FNFBktt6H8XQ
Started: powerboat, 24 May 2024 18:03
Last post: Time_for_truth, 26 May 2024 09:28
Absolutely MIND BLOWING!!!
This is truly massive, transformational and company making project.
QGC's commitment to this project is clear with AUO's investment.
Clues remain as to the project on QGC's website and corporate video.
The potential is now there for Shuka to trade above a pound/share particularly as there is absolutely no need for the traditional AIM bucket shops.
$2 billion value in the ground confirmed by respected and independent consultants.
Stay long chaps.
I suppose it gives chance for word to spread over the long weekend ready to start buying Tuesday, expecting a busy board these next few days.
Shareholders have waited nearly 1 year for this news, which is staggeringly good, but they release it after hours ahead of a Bank Holiday weekend - surely it could have waited until Tuesday.
The warrants got extended by another year.
Started: tomhuk2000, 25 May 2024 13:13
Last post: tomhuk2000, 25 May 2024 13:13
“ A huge end to the week at #SKA with release of an after hours RNS detailing the potential acquisition of a “major brownfield site” in East Africa with an in-situ value of approx US$1.98bn based on current prices.
Also secondary listing on the JSE. @Shukaminerals_ @JB_MiningAfrica”
https://x.com/redditdeluxe/status/1794296720228241503?s=46&t=IHEn1TE0c7FNFBktt6H8XQ
I'm assuming that the results are due next month with presumably whatever coal production has been achieved.
The opening SP on Tuesday after this latest RNS will be interesting after the length of silence. The impact should kick start a rise in demand and accompanying rise in the SP.
Could neo or umr be next with news? Both Jason brewer companies.
The Company also notifies that is advancing discussions on a dual-listing of Shuka on the Johannesberg Stock Exchange, and looks forward to updating shareholders on progress in due course
Started: Sausageonstick, 22 May 2024 16:38
Last post: GreenWolf, 22 May 2024 19:11
Experience on this share tells us Sausage that no news is rarely good news...there's still an ounce of hope in me, but it feels like groundhog day....again. GLA
"prospects at Rukwa, where operations have remained challenging, with limited coal production. The operations have been on hold recently due to the rainy season. While local mining staff were on annual leave during this period, they return to the mine this week to prepare for a new production cycle. Demand in regional markets continues to appear robust. Following resumption of normal activities, the Company will review its targeted production rates and provide further updates as appropriate"
Updates on
1) New production cycle.
2) Demand in regional markets.
3) Resumption of normal activities.
4) Targeted production rates.
"In addition, the Board is continuing to review potential acquisitions of additional advanced mining and mine development projects located in Africa, including one such opportunity which is being actively progressed and meets the Company's key acquisition criteria, with a focus on a commodity other than coal. While the Board is excited by the potential of the opportunity and has concluded its due diligence there can be no guarantee that any transaction will proceed to definitive documentation, or as to the eventual terms or timing of such transaction. "
Updates on
1) Board is continuing to review potential acquisitions
2) One such opportunity which is being actively progressed and meets the Company's key acquisition criteria.
3) Concluded its due diligence, so what next?
Lots that could be updated on here, wonder why nothing is being released??
Last post: 3.14, 22 May 2024 12:24
Still no update from the company nothing.
Looks like we have c15m warrants expiring this week
https://www.shukaminerals.com/shareholderinformation
Started: Hawkander, 1 May 2024 15:58
Last post: M900, 13 May 2024 10:17
Oops, Wrong share.
Bloody fat fingers and phone :(
In for another £2k this morning, caught a dip and got at £00.324.
Lowered my average to £1.07.
Still well underwater, but at least it feels like things are turning around nicely.
GLA LTH, our day is coming.
The company has a limited amount of cash. Therefore, I expect some of that will go on funding part of the purchase, but the rest may be way of an issue of shares to the vendors. Of course if that were to happen, both QGC and GMI's share holdings would be diluted. As QGC's aim is to have at least 51% of all the companies it is involved with, I would then expect QGC to fund the further capital expenditure needed to open up the Kabwe mine and to finance drilling to expand the resource and that funding to be converted to equity, just as has happened with Marula.
Undoubtedly, they will not have acquired Kabwe with all its history and problem with lead poisoning, without carrying out in depth due diligence and with a plan which with Government funding (loaned by the World Bank probably) will deal with the environmental problems as well as proving to be a very profitable zinc resource.
Mentioned Briefly = will be a pittance
Https://twitter.com/Share_Talk/status/1788534692381110300
Nice chat, funding sorting, aggressively looking to grow
Started: tomhuk2000, 12 May 2024 11:27
Last post: 3.14, 12 May 2024 13:28
7 month out of date register loads nominee accounts
“Here’s the #SKA share register, add my holdings to this & it totals over 84% of the total 60.2m share issue.
Only 9.63m shares left free floating when the news finally drops.
That’s quite the perfect storm & one I’m excited to see the MM’s try to grapple with! @Shukaminerals_”
https://x.com/redditdeluxe/status/1789587285694173366?s=46&t=IHEn1TE0c7FNFBktt6H8XQ
Started: Gwynwin, 29 Apr 2024 13:54
Last post: GreenWolf, 29 Apr 2024 14:47
It is impossible to know the actual price of any buys or sells unless they are your own but I suspect that the 25k sell realised slightly more profit following the two small buys which possibly had an effect on the bid......there's something called scalping....
Anyone know what if any does the two buys of 9 shares mean or represents
On SKA for me it would be a 5 pound fee for 1 pounds worth of share not very profit Looking.
Started: saintpeter7, 18 Apr 2024 00:27
Last post: 3.14, 26 Apr 2024 21:20
Well I predict its nothing again, penny for the guy makes more.
Well Pi, only two months to our annual results......
Has this company anything to give? Wages being paid??
SP7 - there's no volume today which pretty much makes any buy / sell discussion slightly pointless.
I suspect the c107k trade yesterday was worked through during the day. I can't really see it being anything other than a sell given its quoted value (9.556p)
What we need is tangible news that isnt caught up in an alleged disagreement between our BoD and Nomad
There is a lack of volume because there is a lack of interest, because there's no update.......
Market makers holding the quoted offer price at 10.5p so that buys show as sales. True offer price for quotes should be at 10p.
Expect it is in preparation for buying once the long-awaited announcement is at last made.
Started: Time_for_truth, 27 Mar 2024 03:58
Last post: 3.14, 12 Apr 2024 20:53
🤷
Yes Pi, continued silence.
However, there is a "1" trade in there today for those who believe in RNS witchcraft.....
We desperately need some positive formal news.
GLA
Closer to what nothings been said.
Another week closer !
And another week rolls by 😴
Last post: Sausageonstick, 26 Mar 2024 18:36
I think you will find it is 65K, 83K and 75K buys today.
This will move soon. I have a feeling people in the know are loading up. Shuka generally doesn't get three large buys like that in a day, so, imho, something big is heading this way. GLA
83k delayed buy 11.975p somebody is confident
Nomad here needs to stop faffing about, that’s all it is from what I’m hearing.
SHuka have struck a deal and it’ll have to be announced.
Movement 2 v 1 on L2 mm switches to the bid.
Well if they were forced to issue a RNS and have done a deal they should announce it maybe this week. Let the speculation cool down a bit and then issue the RNS...hope so
Started: Sausageonstick, 20 Mar 2024 11:57
Last post: davey50, 22 Mar 2024 18:22
11-11.5p last trade after the close the buyer paid 12p
Yup it was
Indeed, a picture an investor found and then Edenville has to put out an RNS to explain. If I remember rightly it was Rufus Short at the helm.
Sausage reminds me of a sepco2 picture 🤔
Https://twitter.com/MarulaPlc/status/1770420804947148991
Jason is in Nairobi.