Cloudbreak shares double as grades at gold asset top expectations

21st August 2025 12:08

(Alliance News) - Cloudbreak Discovery PLC shares doubled on Thursday as it reported "very encouraging results" from a gold sampling programme at an asset in Western Australia.

Shares in the company traded at 0.31 pence around midday on Thursday, more than doubling from its 0.15p closing price on Wednesday.

The natural resource project generator and royalty business said gold grades from work at the Darlot West project exceeded expectations.

"These surface results are particularly encouraging and warrant a follow up exploration programme which is being devised to further understand the extent of mineralisation potential," Cloudbreak said.

It reported grading of up to 28.62 grammes per tonne of gold across four prospect areas at the asset.

Cloudbreak said it is now moving towards exercising its option to acquire 100% of the asset.

Darlot West is located 10 kilometres from the "iconic Darlot gold mine", Cloudbreak said. The Darlot gold mine is owned by Sydney-listed Vault Minerals Ltd

By Eric Cunha, Alliance News news editor

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