Shuka Minerals Faces Funding Delay from AUO

Edenville Energy (GB:SKA) has released an update.

Shuka Minerals Plc, an African mine operator, has announced its intention to drawdown £500k from a £2m unsecured convertible note with AUO Commercial Brokerage LLC for working capital purposes. However, AUO has informed Shuka that due to tied-up investment capital, the funds are not currently accessible, though they remain committed to fulfilling their obligations soon. Shuka, with limited cash reserves, is managing resources carefully and expects to sustain operations until the end of October 2024.

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