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Edenville Energy proposes name change to Shuka Resources

Fri, 02nd Jun 2023 13:30

(Sharecast News) - Africa-focussed miner Edenville Energy announced its proposal to change its name to Shuka Resources on Friday.

The AIM-traded firm said the rebranding would reflect its primary focus on Africa, as well as its commitment to environmental sustainability, community engagement, and responsible mining practices.

Its directors said they believed the proposed change of name better aligned with its strategic objectives and enhanced focus on investing in and developing mining assets in Africa.

The proposed new name remained contingent on the approval of shareholders at an upcoming general meeting, which would be convened in the near future.

"The proposed rebranding as Shuka Resources signifies our commitment to the company's existing strategy, emphasising the investment and development of mining assets in Africa," said chief executive officer Noel Lyons.

"This transition marks an exciting period of growth and progress for us in the months to come.

"Furthermore, the new name also reflects our dedication to cultural respect and inclusivity, as well as our strong commitment to the local communities we operate in."

Lyons said the company was striving to foster "mutually beneficial relationships" and make a positive impact on its communities.

"As we plan to embark on this new journey as Shuka Resources, we are filled with enthusiasm and anticipation for what lies ahead.

"Together, we will seize the opportunities that arise, drive innovation, and create sustainable value for our stakeholders.

"We strive to achieve new heights of success."

At 1305 BST, shares in Edenville Energy were up 9.2% at 8.19p.

Reporting by Josh White for Sharecast.com.

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