Cloudbreak Discovery PLC soared (again) on Tuesday, after the micro-cap explorer announced an expansion of its Darlot West gold project in Western Australia, increasing the landholding fivefold to 60.6 square kilometres.
The project, which lies 10 kilometres southwest of the producing Darlot Gold Mine, now has some seven kilometres of extra strike in an area where Cloudbreak recently reported rock chip sampling grades up to 28.62 grams per tonne.
“To secure this extra acreage under an exclusive option is a very exciting transaction for the company,” managing director Tom Evans said.
In London, Cloudbreak shares were up 48% in Tuesday's trade changing hands at 0.46p. It marks a rally of some 188% in recent weeks, and today sees the company's market value at just under £6 million.