Shuka Minerals Nears Full LEM Takeover

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Shuka Minerals will receive the remaining funds this month to complete its acquisition of Leopard Exploration and Mining (LEM) and Zambia’s Kabwe zinc mine. The initial tranche, giving Shuka a 22.2% stake, is settled. Further payments from Gathoni Muchai Investments will raise its interest to 49.9%, with full acquisition expected by December 31. The delay shifts some payments from November to December under an increased loan agreement.