Shuka Minerals PLC (AIM:SKA) told investors that the expected funds from a loan, from Gathoni Muchai Investments, have experienced a further delay.
Loan remittance from Gathoni Muchai Investments is now expected before the end of September, the company said.
The funds are earmarked to complete Shuka's proposed acquisition of Leopard Exploration and Mining (LEM) and the Kabwe zinc mine, in Zambia, and Shuka said that the deal is still expected to proceed.
"The company remains committed to finalising the LEM transaction utilising the non-dilutive and favourable terms available under the GMI facility," Shuka said.
In London, Shuka shares were down 16%, changing hands at 3.56p.