Cloudbreak Discovery PLC (LSE:CDL) described the outlook for 2022 as "positive" as it reported its interims results for the six months of to end-December 2021.
The natural resource project generator said it continues to evaluate a variety of prospects.
"I am pleased to report an active six months for Cloudbreak, having optioned a number of projects within our diverse portfolio to partners," commented Kyler Hardy, the company's CEO and president.
During the period, Cloudbreak's alliance with Alianza Minerals Ltd (TSX:ANZ) acquired the Klondike Property in Colorado, where sampling at the site expanded the "known copper mineralisation and delineated a new copper target with results including 1.56% copper from a 4.6 metre chip sample”.
The Klondike Property was later optioned to Allied Copper Corp under an agreement that the alliance would retain a net smelter royalty and that Allied Copper would continue to fund exploration.
The alliance made a second acquisition in the period - the Stateline Property in Utah - which has 22 unpatented mining claims.
Other operational highlights for the six months ending 31 December 2021 include the exploration of the Northwest portfolio which targets polymetallic projects in Northwestern British Columbia, the optioning of the Yak and Atlin West projects and the identification of an exploration partner for the South Timmins gold project.
"Alongside our core projects, we continue to evaluate a variety of base and precious metal prospects in West Africa, as well as lithium deposits in North America," Hardy said. "All of these have the potential to create significant value for Cloudbreak and its shareholders."
"The demand for battery and base metals remains strong, and coupled with our pipeline of high impact acquisitions, the outlook for Cloudbreak in 2022 is positive," he added.
In the year so far, the company has raised £1.5mln via a placing, as well as continuing to option projects such as the Rizz and Icefall project.
The group reported a £2.8mln loss for the half-year to end-December 2021, down from a £4.5mln profit in the second half of 2020, mainly due to a loss on the market value of its stock holdings and administrative expenses.
Cash and cash equivalents were up at £735,000 from £39,299, with the carrying value of investments held during the period falling to £2.6mln from £5mln.