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)
Cloudbreak Discovery (LSE:CDL)
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