Shuka Minerals (SKA)

Sector:

Mining

Index:

FTSE AIM All-Share

8.50p
   
  • Change Today:
    -0.25p
  • 52 Week High: 15.00
  • 52 Week Low: 8.00
  • Currency: UK Pounds
  • Shares Issued: 60.22m
  • Volume: 162,863
  • Market Cap: £5.12m

Edenville shares tumble as group undertakes discounted placing

By Iain Gilbert

Date: Tuesday 06 Dec 2022

LONDON (ShareCast) - (Sharecast News) - Exploration and development firm Edenville Energy has undertaken a placing to raise gross proceeds of £400,000 in order to provide the group with additional working capital, settle outstanding creditors and provide sufficient funds to meet any unexpected adverse judgement as a result of ongoing legal claims.
Edenville said on Tuesday that the placing proceeds were "sufficient" to ensure it becomes cash flow positive from operations in the coming months, subject to being able to operate during Tanzania's rainy season.

The AIM-listed company placed 5.71m new ordinary shares at a price of 7.0p per share, representing a discount of approximately 33.3% to the stock's mid-market closing price of 10.50p on Monday.

The placing was arranged by Tavira Financial, the company's broker, and will represent approximately 21% of the firm's enlarged issued share capital.

Edenville, which hopes to resolve an ongoing dispute with Upendo Group "in the coming weeks", also revealed that it had received a claim from former employees relating to unfair dismissal as a result of Covid-19 but stated that based on legal advice received, it confirmed that both claims were being "robustly defended".

As of 1125 GMT, Edenville shares had tumbled 22.67% to 8.12p.



Reporting by Iain Gilbert at Sharecast.com

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Shuka Minerals Market Data

Currency UK Pounds
Share Price 8.50p
Change Today -0.25p
% Change -2.86 %
52 Week High 15.00
52 Week Low 8.00
Volume 162,863
Shares Issued 60.22m
Market Cap £5.12m

Shuka Minerals Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value Not Available
Price Trend
35.89% below the market average35.89% below the market average35.89% below the market average35.89% below the market average35.89% below the market average
11.27% above the sector average11.27% above the sector average11.27% above the sector average11.27% above the sector average11.27% above the sector average
Income Not Available
Growth
57.57% above the market average57.57% above the market average57.57% above the market average57.57% above the market average57.57% above the market average
60.66% above the sector average60.66% above the sector average60.66% above the sector average60.66% above the sector average60.66% above the sector average

Shuka Minerals Dividends

No dividends found

Trades for 14-Jun-2024

Time Volume / Share Price
09:54 8 @ 8.00p
09:54 55 @ 8.00p
09:54 30,000 @ 8.25p
09:53 32,800 @ 8.53p
09:19 25,000 @ 8.55p

Shuka Minerals Key Personnel

CEO Noel Lyons

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