Interim Results for the Period Ended 31 December 2021
Cloudbreak Discovery Plc (LSE: CDL), a leading natural resource project generator, announces its interim results for the period ended 31 December 2021 (“H2 2021” or the “Period”).
Period Highlights
In June 2021, Cloudbreak and Alianza Minerals Ltd formed a strategic alliance to explore for copper
deposits in the United States (the “Alliance”)
o During H2 2021 the Alliance made its first acquisition, the Klondike Property (“Klondike”), in
Colorado
o A subsequent sampling programme expanded the known copper mineralisation and
delineated a new copper target with results including 1.56% copper from a 4.6 metre chip
sample
o The Alliance optioned Klondike to Allied Copper Corp. (“Allied Copper” or “Allied”) under an
agreement which includes Allied Copper committing to exploration expenditure and the
Alliance retaining a net smelter royalty
o During the Period, the Alliance also made its second acquisition with the Stateline Property
(“Stateline”) in Utah which has 22 unpatented mining claims. Mineralisation and host rocks at
Stateline bear strong resemblance to those at the Lisbon Valley Mining Complex
• Cloudbreak staked and initiated an exploration programme on the Northwest Portfolio which targets
polymetallic projects in Northwestern British Columbia (“BC”)
• Optioned the Yak Project, which targets gold mineralisation and is part of the Northwest Portfolio, to
Moonbound Mining Ltd
• Identified an exploration partner, 1315956 BC Ltd, for its South Timmins gold project
• Optioned Atlin West, which is part of the Northwest Portfolio, to 1315843 BC Ltd
Post Period Highlights
• Successful fundraise of £1.5 million by way of a placing of ordinary shares
• Optioned the Stateline project to Allied Copper under an agreement which will see Allied committing
to exploration expenditure and the Alliance retaining a net smelter royalty
• Engagement with OIG Overseas Investment Group Ltd for corporate development services
• The Rizz and Icefall projects, which are part of the Northwest Portfolio, were optioned to
1311516 BC Ltd
Kyler Hardy, CEO and President of Cloudbreak Discovery, commented, “I am pleased to report an active six months for Cloudbreak, having optioned a number of projects within our diverse portfolio to partners. Other key achievements include the initiation of an exploration programme on the Northwest Portfolio in British Columbia, a region where the Cloudbreak team has extensive experience. Alongside our core projects, we continue to evaluate a variety of base and precious metal prospects in West Africa, as well as lithium deposits in North America. All of these have the potential to create significant value for Cloudbreak and its shareholders. The demand for battery and base metals remains strong, and coupled with our pipeline of high impact acquisitions, the outlook for Cloudbreak in 2022 is positive.”
Financials
• The loss of the Group for the period ended 31 December 2021 amounts to £2,804,575 (H2 2020: £4,562,601 profit)
o The result for the period consisted mainly of a loss on the market value of its stock holdings and administrative expenses
• £735,810 in cash and cash equivalents held at the period end (H2 2020: £39,299)
• £2,631,507 carrying value of investments held at the period ended 31 December 2021 (H2 2020: £5,061,849)
• Consolidated loss per share or the period ended 31 December 2021 was £0.72
