SHUKA MINERALS PLC

• ⚠

  Material uncertainty over going concern

  We draw attention to note 2 in the financial statements, which highlights the need to re-commence commercial production at the Rukwa coal mine, uncertainty over renewal of the Rukwa mining licence which falls due for renewal in February 2026, and the need to access funds under the loan facilities within the going concern period to meet the cash consideration under the LEM acquisition and working capital requirements.

1. SHUKA MINERALS PLC 2023-08-29 → present
2. EDENVILLE ENERGY PLC 2010-03-26 → 2023-08-29
3. GEMSTONES OF AFRICA GROUP PLC 2009-01-23 → 2010-03-26
4. TV COMMERCE HOLDINGS PLC 2005-01-18 → 2009-01-23
5. TV COMMERCE HOLDINGS LIMITED 2004-11-22 → 2005-01-18

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

UK adopted IAS

Reporting scope

Consolidated group

Auditor

PKF Littlejohn LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“We draw attention to note 2 in the financial statements, which highlights the need to re-commence commercial production at the Rukwa coal mine, uncertainty over renewal of the Rukwa mining licence which falls due for renewal in February 2026, and the need to access funds under the loan facilities within the going concern period to meet the cash consideration under the LEM acquisition and working capital requirements.”

Group structure

1. SHUKA MINERALS PLC · parent
   1. Edenville International (Seychelles) Limited 100% · Seychelles
   2. Edenville International (Tanzania) Limited 99.75% · Tanzania
   3. Edenville Power (Tz) Limited 99.9% · Tanzania

Significant events

• “GMI loan drawdown for H2 2025 and restart of mining operations very soon.”
• “Further funding commitment from GMI on 2 December 2024 with an unsecured, non-convertible, interest free loan of £500,000, £335,000 of which has been drawndown to date. Extended by an extra £1.5m, subject to completion of due diligence and funding documentation, to complete the acquisition of Leopard Exploration and Mining Limited ('LEM').”
• “On 24 May 2024 the Company announced that it had completed due diligence on the Kabwe Mine and was proposing to proceed with the acquisition of LEM.”
• “On the same date the Company was pleased to announce that it had entered a £2 million unsecured convertible loan note ('CLN') agreement with AUO. The availability of the CLN was extended in March 2025 for a period of 1 year to March 31st 2026 and repayment/conversion also extended to March 31st 2027.”
• “A conditional share purchase agreement ('SPA') was entered into between the Company and LEM in December 2024, to acquire 100% of LEM's share capital.”
• “On 7 May 2025, 1,625,000 new ordinary shares of 1p each were issued at a price of 8 pence per share in lieu of £130,000 of consultancy fees due to Gathoni Muchai Investments Limited, £70,000 of which were outstanding at the year end.”
• “On 21 May 2025 the company commenced its secondary listing on the AltX market of the Johannesburg Stock Exchange.”
• “On 11 June final authorization was approved by the CCCPC for the acquisition of LEM.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

10

last 12 months

Capital events

6

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -98.8%

  £194,346 → £2,305

• Cash

  -94.3%

  £633,093 → £36,038

• Net assets

  -20.4%

  £6,312,690 → £5,023,194

• Employees

  -21.7%

  23 → 18

• Operating profit

  -19.7%

  -£1,668,651 → -£1,997,845

• Profit before tax

  -19.2%

  -£1,681,528 → -£2,004,927

• Wages

  +7.1%

  £745,435 → £798,570

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers