Completion of Acquisition of the Darlot Project - all 3 options exercised21 Jan 2026 10:01
Cloudbreak 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.
· Darlot West Gold Project (announced 22nd September 2025) - First Option Agreement
· Darlot West Expansion (announced 24th November 2025) - Second Option Agreement
· Crofton Gold Project (announced 9th December 2025) - Third Option Agreement
The 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. In 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.
"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."
"The newly issued shares represent an increase of just 8.33% of our current issued share capital"
8.33% for 60.6 square kilometers of prime Australian gold tenemants, where 65g/t gold has been found. Potential JV to come?
Just some of the sampling results for Darlot (30/10/25 RNS):
"High Tenor of Rock chip results being followed up, returning over 10 g/t include:
o 65.75 g/t Au (2.11 ounces of gold per tonne)
o 40.44 g/t Au (1.30 ounces of gold per tonne)
o 27.23 g/t Au
o 19.79 g/t Au
o 15.89 g/t Au
o 15.40 g/t Au
o 14.39 g/t Au
o 13.99 g/t Au
o 12.66 g/t Au
o 12.45 g/t Au
o 10.78 g/t Au"
Currently waiting overdue assays and likely will arrive shortly. Drilling to start Q1, costs potentially already factored in with the August fundraise long since churned.
Future is bright with CDL!