IN BRIEF: Shuka Minerals raises GBP150,000, completes second drilling

Shuka Minerals PLC - Africa-focused mine operator and developer - Raises GBP150,000 through a subscription for 3.75 million new shares at 4 pence each. Notes that the subscription comes after it was approached by a mining investor. The subscription is on the same terms as the placing announced in January. The new shares come with 3.75 million warrants, exercisable at 8 pence per new share. Also issues 225,000 new shares at 4p apiece to settle fees due to Marc Nally, its consultant.

Separately, Shuka says it has completed the second drill hole at the No.2 ore body at the Kabwe zinc mine in Zambia. "Our drilling campaign continues to deliver some amazing Zn grades," Shuka Chief Executive Officer Richard Lloyd says. Last month, Shuka conducted its first drill hole at the Kabwe zinc mine, finding "high grade" results.

Current stock price in Johannesburg: 72 rand cents, up 18% on Wednesday

12-month change: down 56%

Current stock price in London: 3.08 pence, up 7.9%

12-month change: down 23%

By Artwell Dlamini, Alliance News senior reporter South Africa

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Shuka Minerals PLC