Cloudbreak Reports High-Grade Gold at Crofton and Raises £1.85m to Fund Pilbara Exploration

Cloudbreak Discovery PLC (LSE:CDL) announced highly encouraging early assay results from its maiden field visit to the Crofton Gold Project in Western Australia. Rock chip sampling returned grades of up to 162.35 g/t gold, with 15 samples grading above 1 g/t, confirming and extending previously identified high-grade mineralisation. The results outline a broad mineralised footprint spanning roughly 1km by 4km and characterised by extensive quartz veining.

Following the strong initial results, the company plans immediate follow-up work, including systematic soil sampling, detailed geological mapping and additional rock chip programmes aimed at refining priority drill targets. In parallel, Cloudbreak has completed a £1.85m equity placing with existing institutional investors, strengthening its balance sheet to support an expanded gold exploration push in the Pilbara region. The funding will also be used to consolidate its recently acquired Crofton and Darlot West assets and progress its wider Australian gold portfolio against a backdrop of supportive precious metals prices.

From an outlook perspective, Cloudbreak continues to be constrained by weak financial metrics, including the absence of revenue, ongoing losses and cash burn, and negative equity reported for 2025. These factors are partially offset by constructive technical signals, with the share price trading above key moving averages, and a steady flow of positive corporate developments linked to asset acquisitions and exploration progress. Valuation remains challenging while the group remains loss making.

More about Cloudbreak Discovery PLC

Cloudbreak Discovery PLC is a London-listed mineral exploration company focused on gold, precious metals and base metals, with a primary operational focus on Western Australia. Through its wholly owned subsidiaries, the group is building a portfolio of high-potential mineral assets and generating new projects using a multi-asset, generative exploration model designed to capture opportunities across the commodity cycle and deliver long-term shareholder value.