Business
Cloudbreak completes acquisition of WA Gold Assets
Cloudbreak Discovery Plc has completed the acquisition of three Western Australian gold projects, Darlot West Gold Project, Darlot West Expansion, and Crofton Gold Project, by issuing 117 million new ordinary shares. This issuance represents an 8.33% increase in the company's issued share capital, bringing the total to 1,520,690,759 ordinary shares. The company anticipates admission of these new shares to the London Stock Exchange on or around January 26, 2026, and plans to commence drilling operations this quarter, expressing confidence in delivering shareholder value given the current gold price environment. Disclaimer*
About this update from Cloudbreak Discovery Plc
[{"type":"text","content":"\n\n21 January 2026\nCloudbreak Discovery Plc\n('Cloudbreak', or 'the Company')\n \nCloudbreak completes acquisition of WA Gold Assets\n \nCloudbreak Discovery plc, (LSE:CDL) is pleased to provide an update in respect of the three options and sale and purchase agreements in Western Australia announced during 2025.\n \n· Darlot West Gold Project (announced 22nd September 2025) - First Option Agreement\n· Darlot West Expansion (announced 24th November 2025) - Second Option Agreement\n· Crofton Gold Project (announced 9th December 2025) - Third Option Agreement\n \nThe Company is now issuing the required ordinary shares (\"New Ordinary Shares\") to conclude these acquisitions, resulting in Cloudbreak owning these very exciting gold assets in a top-tier gold jurisdiction.\n \nCloudbreak Managing Director, Tom Evans, said:\n \n\"We are extremely delighted that we can now conclude the acquisition of these tenements that have provided the Company with such outstanding gold results in the past months and we look forward to reporting many more. The work we have already undertaken on the ground has provided us with enormous optimism for the overall prospectivity of these tenements for gold and we rate their potential for meaningful and commercial discoveries in 2026 as very high. The Darlot area has already provided us with immediate step-up drill targets and now that we will own these tenements outright, we aim to have drill rigs turning this quarter. The closure of these transactions gives the board of Cloudbreak a lot of confidence that we can start delivering real value for shareholders, especially with the gold price environment we find ourselves in at the moment.\"\n \n\"The newly issued shares represent an increase of just 8.33% of our current issued share capital\"\n \nAdmission and Total Voting Rights\n \nIn aggregate, the Company will issue 117 million New Ordinary Shares in satisfaction of the consideration payable under the First Option Agreement, Second Option Agreement, and Third Option Agreement.\n \nApplication will be made to the London Stock Exchange for the New Ordinary Shares, to be admitted to trading on the LSE (\"Admission\"). Admission is expected to become effective on or around...