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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Cloudbreak Discovery Plc | LSE:CDL | London | Ordinary Share | GB00B44LQR57 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.275 | 0.25 | 0.30 | 0.275 | 0.25 | 0.275 | 906,342 | 08:00:23 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Finance Services | 47k | -4M | -0.0055 | -0.49 | 2.01M |
TIDMCDL
RNS Number : 3727A
Cloudbreak Discovery PLC
22 January 2024
22 January 2024
Cloudbreak Discovery Plc
('Cloudbreak', or 'the Company')
Update on Assets and Projects
Cloudbreak Discovery Plc, (LSE: CDL), the natural resource project generator , is pleased to provide an update on its portfolio of assets and projects and to redefine its strategic focus.
-- Strategic focus on near term revenue, project pivots, transition finance and project generation
-- Refocused portfolio following an inflection year for the Company and the completion of the settlement agreements with former directors and management ("Settlement Agreements") in late 2023
-- Streamlined board offering strong management to support growth of the Company to generate value for a supportive shareholder base.
Following completion of the Settlement Agreements in late 2023 which included the disposal of certain assets, the Company's current asset and project status is set out in the table below.
ASSET COMMODITY DESCRIPTION ASSET CLASS CDL STAKE Tradeable Multiple Share position held in Various 100% Securities(1) Companies multiple companies Value at 08/01/2024: CAD $933,945 ------------ ----------------------------------- -------------------- -------------- Debenture Oil and Debenture holding with Debenture 100% 1 Gas a second lien security position on a producing Maturity: USD $2.0m oil and gas field in Texas. 01/05/2024 12% per annum interest and 3.25% Gross Overriding Royalty on production. ------------ ----------------------------------- -------------------- -------------- Debenture Oil and Debenture holding on a Debenture 100% 2 Gas company that is pending production in Texas. The Maturity: USD $600k Debenture may be converted 01/07/2024 into a 2% Gross Overriding Royalty on production. ------------ ----------------------------------- -------------------- -------------- Copper, Moly, 1,034 acres. Positive past Bobcat Gold exploration history with - Idaho, porphyry good drill results. Seeking Royalty: USA potential exploration partner. to be established 50% ------------ ----------------------------------- -------------------- -------------- Projects originally staked Royalty: by Cloudbreak and then Atlin West Gold, optioned. Optionee exploration - 2% NSR Atlin Silver work incomplete. West, Copper, Rizz and Rizz, Lead, Optionee: Power Group Projects Icefall: Icefall, Zinc Corp. (PGP-TSXV) to be established 100% ------------ ----------------------------------- -------------------- -------------- Project originally staked by Cloudbreak and then optioned. Optionee exploration work incomplete. Optionee: Buscando Resources Royalty: Rupert Copper Corp. (BRCO-CSE) 1% NSR 100% ------------ ----------------------------------- -------------------- -------------- Returned to Cloudbreak due to change of corporate direction. Cloudbreak will Klondike seek alternate exploration Royalty: and Stateline Copper partner. to be established 50% ------------ ----------------------------------- -------------------- -------------- Cloudbreak and its consultants developed a dataset that established areas of highly prospective lithium brine concentrations over a 2-year timeframe. Acquired one lease of 435 acres to test Northeast Lithium and confirm. Seeking exploration Royalty: USA Lithium Brines and/or production partner. to be established 100% ------------ ----------------------------------- -------------------- -------------- Cloudbreak and its consultants developed a dataset that established areas of potential lithium brine concentrations Southern over a 2-year timeframe. States Lithium Seeking exploration and/or Royalty: USA Lithium Brines production partner. to be established 100% ------------ ----------------------------------- -------------------- -------------- Project originally staked by Cloudbreak and then optioned. Optionee exploration work incomplete. Optionee: North American South Performance Resources Ltd. Royalty: Timmins Gold (private) 1% NSR 50% ------------ ----------------------------------- -------------------- -------------- Project originally staked by Cloudbreak and then optioned. Phase 1 exploration work program completed by Optionee. Optionee: Moonbound Mining Royalty:2% Yak Gold Ltd. (MML:CSE) NSR 100% ------------ ----------------------------------- -------------------- -------------- Copper, Optionee: Norseman Silver Royalty:2% Caribou Silver Inc. (NOC-TSXV) NSR 0% ------------ ----------------------------------- -------------------- --------------
Notes:
1. Tradeable securities do not include shares that Cloudbreak holds in unlisted companies 2. NSR = Net Smelter Royalty
Cloudbreak disposed of certain non-core assets as part of the Settlement Agreements and has chosen to relinquish certain projects with no financial merit or financial impact, which have been provided for in the Company's accounts and details will be disclosed in full in the forthcoming interim report.
Following the Board and Management changes in 2023, Cloudbreak is in the process of refining its investment and acquisition strategy in the energy related minerals sector, with focus on:
-- Near term revenue or project pivots -- Transition finance -- Project generation
Cloudbreak will acquire or invest in either quoted or private companies, partnerships, joint ventures or direct interests in projects where it can support a strong management team as well as projects that are relevant to its investment thesis.
The Board will target investments that offer substantial shareholdings in investee companies to maximise the potential of returns to shareholders. However, investment opportunities will be considered on a case-by-case basis and minority interest investments will not be ruled out. Cloudbreak's Board and their supporting team have considerable experience across the mining and oil and gas sectors in a wide range of countries.
Andrew Male, Director, Interim CEO, states: "The combination of Cloudbreak tradeable securities, debentures and the projects enable the Company to position itself well going forward. We intend to create and build new revenue streams enabling the Company to successfully build a stronger underlying value proposition."
This announcement contains information which, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended).
Qualified Person
Mr. Rory Kutluoglu P. Geo., a consultant of the Company is the Qualified Person ("QP") under NI 43-101 for the technical information in this news release, and has verified the data disclosed and approves the technical contents contained in this news release.
- Ends -
For additional information please contact:
Cloudbreak Discovery Tel: +44 792 6 397675 PLC Andrew Male, Interim am@cloudbreakdiscovery.com CEO ----------------------- --------------------------- Novum Securities Tel: +44 7399 9400 ----------------------- --------------------------- (Financial Adviser) David Coffman / George Duxberry ----------------------- --------------------------- Oberon Capital Tel: +44 20 3179 5355 / +44 20 3179 5315 ----------------------- --------------------------- (Broker) Nick Lovering / Adam Pollock ----------------------- ---------------------------
About Cloudbreak Discovery PLC
Cloudbreak Discovery PLC is a leading natural resource project generator and royalty business. Cloudbreak is focused on energy royalty acquisitions with the aim of bringing near-term cashflow and driving shareholder value. Its primary operating jurisdiction is the United States, but the Company also deploys its project generation model in the international energy sector to acquire minority interests in projects of merit.
Through its wholly owned but independently operated subsidiary, Cloudbreak Exploration Inc., the Company will develop its array of mineral assets, whilst continuing to generate new projects with a particular focus on commodities key to the energy transition .
Cloudbreak's generative model across the energy and mineral sector enables a multi-asset approach to investing and exploration. Diversification within the natural resource sector and amongst resource classes is key to withstanding the cycles of investing.
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END
TSTEANFFAAALEFA
(END) Dow Jones Newswires
January 22, 2024 02:00 ET (07:00 GMT)
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