Cloudbreak Discovery PLC (LSE:CDL) has summarised the progress it’s made since listing on the London Stock Exchange in June 2021.
Investors in Cloudbreak have exposure to in excess of C$5mln of exploration expenditures that will be incurred by the company’s partners in the coming 12 months.
Among the highlights, five polymetallic projects have been generated and staked in Northwestern British Columbia, representing over 45,000 hectares of mineral tenures.
The company has also entered into a strategic alliance with Alianza Minerals Ltd for the identification and advancement of copper projects in the Southwestern United States.
The alliance has allowed Cloudbreak to leverage Alianza's extensive experience through the region and has resulted in several early success including the acquisition of the Klondike and Stateline projects in the Paradox basin, both of which are targeting sediment hosted copper exploration opportunities.
Meanwhile, in British Columbia, Norseman Silver Corp has executed exploration programmes on three of the four projects Cloudbreak generated for its portfolio. Currently, Norseman has results pending from drilling at Silver Vista and is awaiting results on the Caribou project. It is also anticipating results from a programme designed to refine the geochemical trend on the Silver Switchback project.
Other partner companies have also been active in North America.
"There is currently a fundamental shift taking hold in the metals and energy sectors which will result in increased consumption of critical metals globally,” said Kyler Hardy, chief executive of Cloudbreak.
“Cloudbreak's portfolio and strategy positions us at the vanguard of this shift and enables our shareholders to benefit from the changing dynamics within the metals and mining sectors. Our multi-asset approach, targeting a range of commodities across different jurisdictions, also significantly reduces shareholder risk. I am extremely excited about the coming year and look forward to updating the market in due course."