Cloudbreak Discovery PLC (LSE:CDL, OTC:CDBDF) shares moved higher in Thursday morning's trade, adding around 20%, as it topped up its coffers.
The exploration company raised £600,000 in a placing priced at 0.475p, backed by institutional investors (one existing shareholder and two new investors, including a US-based mining-focused fund).
“I am delighted by the support provided by the strategic new and long-term shareholders of the company," said managing director Tom Evans.
"This placing enables us to greatly accelerate the work programme planned at our recently announced increased acreage at Darlot West, and further, to crystallise some exciting opportunities the Company has already negotiated exclusivity on”.
In London, Cloudbreak shares gained around 22% to trade at 0.69p - the shares remains some 330% higher over the past two weeks, driven by the Darlot West newsflow.