Resultados provisionales
28 de marzo de 2024
Cloudbreak descubrimiento plc
("Cloudbreak" o la "Compañía")
Interim Results for the Period Ended 31 December 2023
Cloudbreak Discovery Plc (LSE: CDL), a leading London listed royalty company and natural resources project generator, is pleased to announce its Interim Results for the six months ended 31 December 2023 ("H2 2023" or the "Period").
Andrew Male, Interim CEO and President of Cloudbreak Discovery, commented, "After a period of negotiations and restructuring at the executive level we have been able to establish a strong base to work from. Over the coming months the Board and Management will work to build on the asset package with the aim of increasing its existing and future value in all areas.
We are very encouraged by the recent restructuring of the G2 debenture and the prospects it presents. Going forward we will look to realise on projects and assets that have this kind of value accretion potential."
Chairmans review of interim period
I am pleased to provide Cloudbreak shareholders with an update on the Company's developments in the six months ended 31 December 2023.
The Period has seen the culmination of many corporate changes including the resignation and contract cancellations of the former management team and and certain directors. This resulted in the streamlining of the the Board and Management with a view to re-organising many of the assets and investments the Company has.
Consolidation and review of the Company's asset package was ongoing while the Board decided on the trajectory it wished to proceed with. This review resulted in a desire to continue with the present undervalued asset package and build a foundation to work from and seek to prove the underlying values.
During the period the Company issued debt instruments to provide working capital and the needed restructuring and support of existing projects. Going forward these debt instruments will be converted into equity along with other expenses.
Subsequent to 31 December 2023 the Company successfully optioned a Lithium brine database and knowledge set as well as negotiate an Amending Agreement with G2 Energy Corp.
In each instance Cloudbreak realised a more beneficial position and in the case of G2, two of our Cloudbreak board members have joined the board of G2 and seen a restructuring of G2 along with an additional investment through an affiliate investment team which is expected to enhance the overall production and performance of the field.
Declaración de responsabilidad
The Directors are responsible for preparing the Interim Report in accordance with the Disclosure Guidance and Transparency Rules of the United Kingdom's Financial Conduct Authority ("DTR") and with International Accounting Standard 34 on Interim Financial Reporting (IAS 34).
The Directors, being Andrew Male, Emma Priestley and Paul Gurney confirm that to the best of their knowledge:
· The interim financial statements, prepared in accordance with the applicable set of accounting standards, give a true and fair view of the assets, liabilities, financial position and profit or loss of the Company; and
· The interim financial statements have been prepared in accordance with IAS 34 and that as required by DTR 4.2.7 and DTR 4.2.8, the Interim Report gives a fair review of:
· Important events that have occurred during the first six months of the year;
· The impact of those events on the financial statements;
· A description of the principal risks and uncertainties for the remaining six months of the financial year;
· Details of any related party transactions that have materially affected the Company's financial position or performance in the six months ended 31 December 2023; and
· Any changes in the related parties transactions described in the last annual report that could have a material effect on the financial position or performance of the enterprise in the first six months of the current financial year.
Andrew hombre
Presidente interino y director ejecutivo
28 Marzo 2024
Divulgación de la regulación de abuso de mercado (MAR)
Cierta información contenida en este anuncio se habría considerado información privilegiada a los efectos del artículo 7 del Reglamento (UE) n.o 596/2014 hasta la publicación de este anuncio.
Para obtener información adicional, por favor póngase en contacto con:
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PLC Cloudbreak Discovery | Tel: +44 7926 397 675
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Andrew Male, director ejecutivo interino | am@cloudbreakdiscovery.com | |
Valores Novum (Asesor financiero) | Tel: +86 571 82867702 | |
David Coffman/George Duxberry | ||
Capital de Oberón (Broker) | Teléfono: +44 20 3179 5355 / +44 20 3179 5315
Adam Pollock / Nick Lovering | |
ESTADO DE SITUACIÓN FINANCIERA CONDENSADO CONSOLIDADO
| Note | 31 de diciembre de 2023 Sin auditar £ | 30 de junio de 2023 Auditado £ | 31 de diciembre de 2022 Sin auditar £ |
Activo no corriente |
|
| ||
Activo de regalías | 1 | 1 | 1 | |
Activos intangibles | 4 | 192,269 | 236,518 | 269,740 |
Inversiones | 5 | 696,879 | 891,255 | 1,179,765 |
Leased Asset | 29,650 | 29,810 | - | |
Cuentas por cobrar de obligaciones convertibles | 6 | 471,239 | 475,168 | 2,902,009 |
| 1,390,038 | 1,632,752 | 4,351,515 | |
Activos circulantes |
| |||
Cuentas comerciales y otras cuentas por cobrar | 315,144 | 243,177 | 478,035 | |
Efectivo y equivalentes de efectivo | 160,299 | 244,074 | 113,884 | |
Cuentas por cobrar de obligaciones convertibles | 6 | 1,570,796 | 1,583,892 | - |
2,046,239 | 2,071,143 | 591,919 | ||
Activos totales | 3,436,277 | 3,703,895 | 4,943,434 | |
Pasivo circulante |
| |||
Comerciales y otras cuentas a pagar | 1,451,305 | 1,704,437 | 1,918,985 | |
Notas de préstamo convertibles | 7 | 360,400 | - | - |
| 1,811,705 | 1,704,437 | 1,918,985 | |
Responsabilidad total | 1,811,705 | 1,704,437 | 1,918,985 | |
|
| |||
Activos netos | 1,624,572 | 1,999,458 | 3,024,449 | |
Patrimonio atribuible a los propietarios de la Sociedad Dominante |
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Capital social | 778,635 | 778,635 | 766,458 | |
Compartir premium | 16,753,221 | 16,753,221 | 16,589,348 | |
Otras reservas | 396,926 | 519,045 | 580,554 | |
Reserva de adquisición inversa de activos | (4,134,019) | (4,134,019) | (4,134,019) | |
Pérdidas retenidas | (12,170,191) | (11,917,424) | (10,777,892) | |
Equidad total | 1,624,572 | 1,999,458 | 3,024,449 |
ESTADO DE RESULTADOS INTEGRALES CONSOLIDADO CONDENSADO
Operaciones continuas | Note | 6 meses al 31 de diciembre de 2023 No auditado £ | 6 meses al 31 de diciembre de 2022 No auditado £ |
Beneficio por venta de activos de exploración y evaluación | 88,569 | 118,967 | |
Gastos administrativos | (433,541) | (2,396,796) | |
Ganancias/(pérdidas) cambiarias | (7,623) | (26,071) | |
Pérdida operativa | (352,595) | (2,303,900) | |
Ingresos financieros netos | 150,307 | 175,341 | |
Otros ingresos | 8,242 | 49,967 | |
Otras ganancias/(pérdidas) | 72,737 | 12,393 | |
Pérdida por enajenaciones de inversiones | (231,611) | (365,277) | |
Deterioro de préstamos | (67,303) | (109,328) | |
Ganancia/(pérdida) de valor razonable no realizada en inversiones | (11,256) | (317,563) | |
Ingreso por operaciones interrumpidas | 65,774 | - | |
Pérdida antes del impuesto sobre la renta |
| (365,705) | (2,858,367) |
Impuesto sobre la renta | - | - | |
Resultado del ejercicio atribuible a los propietarios de la Sociedad Dominante |
| (365,705) | (2,858,367) |
Ganancias por acción básicas y diluidas atribuibles a los propietarios de la matriz durante el período (expresadas en peniques por acción) |
8 |
(0.001) p |
(0.01) p |
|
| 6 meses al 31 de diciembre de 2023 No auditado £ | 6 meses al 31 de diciembre de 2022 No auditado £ |
Pérdida del período |
| (365,705) | (2,858,367) |
Otros ingresos integrales: |
|
|
|
Partidas que pueden reclasificarse posteriormente a resultados |
|
|
|
Diferencias de conversión de moneda |
| (9,181) | 24,780 |
Otro resultado integral del período, neto de impuestos |
| (374,886) | (2,833,587) |
Resultado integral total atribuible a los propietarios de la controladora |
| (374,886) | (2,833,587) |
ESTADOS CONDENSADOS CONSOLIDADOS DE CAMBIOS EN EL PATRIMONIO |
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| Note | Capital social £ | Compartir premium £ | Reserva de adquisición inversa de activos £ | Otras reservas £ | Pérdidas retenidas £ | Total £ | |
Saldo al 1 de julio de 2022 |
| 654,129 | 14,821,521 | (4,134,019) | 599,093 | (7,919,525) | 4,021,199 | |
Pérdida del año | - | - | - | - | (2,858,367) | (2,858,367) | ||
Diferencias de conversión de moneda | - | - | - | 24,780 | - | 24,780 | ||
Resultado integral total del año |
| - | - | - |
24,780 |
(2,858,367) |
(2,833,587) | |
Emisión de acciones | 112,329 | 1,770,827 | - | - | - | 1,883,156 | ||
Costos de emisión | - | (3,000) | - | - | - | (3,000) | ||
Opciones concedidas | - | - | - | (36,723) | - | (36,723) | ||
Warrants emitidos | - | - | - | (6,596) | - | (6,596) | ||
Total de transacciones con propietarios, reconocidas directamente en patrimonio |
|
112,329 |
1,767,827 |
- |
(43,319) |
- |
1,836,837 | |
Saldo al 31 de diciembre de 2022 |
| 766,458 | 16,589,348 | (4,134,019) | 580,554 | (10,777,892) | 3,024,449 | |
Saldo al 1 de julio de 2023 |
| 778,635 | 16,753,221 | (4,134,019) | 519,045 | (11,917,424) | 1,999,458 |
Pérdida del año | - | - | - | - | (365,705) | (365,705) | |
Diferencias de conversión de moneda | - | - | - | (9,181) | - | (9,181) | |
Resultado integral total del año | - | - | - | (9,181) | (365,705) | (374,886) | |
Opciones canceladas | - | - | - | (56,143) | 56,143 | - | |
Warrants Cancelled | - | - | - | (56,795) | 56,795 | - | |
Total de transacciones con propietarios, reconocidas directamente en patrimonio |
| - | - | - | (112,938) | 112,938 | - |
Saldo al 31 de diciembre de 2023 |
| 778,635 | 16,753,221 | (4,134,019) | 396,926 | (12,170,191) | 1,624,572 |
ESTADO DE FLUJOS DE EFECTIVO CONDENSADO CONSOLIDADO
| Grupo procesos |
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| Note | 6 meses al 31 de diciembre de 2023 No auditado £ | 6 meses al 31 de diciembre de 2022 No auditado £ | ||||
flujos de efectivo por actividades operacionales |
|
|
| ||||
Pérdida antes del impuesto sobre la renta | (365,705) | (2,858,367) | |||||
Ajustes para: | |||||||
Pérdida por venta de inversiones | 231,611 | 365,277 | |||||
Cambio en el valor razonable de las inversiones | 11,256 | 317,563 | |||||
Deterioro de préstamos | 74,658 | 109,328 | |||||
Ingresos financieros netos | (150,307) | (175,341) | |||||
Otras ganancias | - | (12,393) | |||||
Divisas no realizadas | (61,416) | 54,784 | |||||
Gastos de opciones sobre acciones | - | 43,306 | |||||
Disminución de cuentas por cobrar comerciales y otras | (64,342) | 826,441 | |||||
Disminución/(Aumento) en acreedores comerciales y otras cuentas por pagar | (439,864) | (344,456) | |||||
Efectivo neto utilizado en actividades operativas | (764,109) | (1,673,858) |
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Flujos de efectivo de actividades de inversión | |||||||
Fondos gastados en inversión | 5 | - | (662) | ||||
Fondos recibidos por la venta de activos de exploración | 42,990 | - | |||||
Venta de inversiones | 5 | 69,331 | 175,860 | ||||
Interés recibido | 41,020 | - | |||||
Notas de préstamo convertibles | - | (414,540) | |||||
Gastos de exploración y evaluación | 4 | - | (199,346) | ||||
Efectivo neto generado por (utilizado en) actividades de inversión | 153,341 | (438,688) |
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Flujos de efectivo de actividades de financiación | |||||||
Producto de la emisión de capital social | - | 1,883,156 | |||||
Movimiento neto de los empréstitos | 201,993 | 35,696 | |||||
Notas de préstamo convertibles | 7 | 325,000 | - | ||||
Costo de las acciones emitidas | - | (3,000) | |||||
Efectivo neto generado por actividades de financiamiento | 526,993 | 1,915,852 |
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Disminución neta de efectivo y equivalentes de efectivo | (83,775) | (196,694) |
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Efectivo y equivalentes de efectivo al inicio del año | 244,074 | 310,578 |
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Ganancia cambiaria sobre efectivo y equivalentes de efectivo | - | - |
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Efectivo y equivalentes de efectivo al final del año | 160,299 | 113,884 |
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Principales transacciones no monetarias
During the period ended 31 December 2023, the Company received 1,022,000 shares in G2 technologies in leiu of cash for the quarterly interest payment of $60,000 USD (£47,524) that was due from G2, as a requirement of a debenture agreement between the two parties.
NOTAS A LOS ESTADOS FINANCIEROS
1. Información General
The Company is a public limited company incorporated and domiciled in England (registered number: 06275976), which is listed on the London Stock Exchange. The registered office of the Company is 6 Heddon Street, London, W1B 4BT.
2. Bases de preparación de Estados Financieros
The condensed interim financial statements have been prepared in accordance with IAS 34 "Interim Financial Statements" as adopted by the United Kingdom and the Disclosure and Transparency Rules of the UK Financial Conduct Authority. The condensed interim financial statements should be read in conjunction with the annual financial statements for the period ended 30 June 2023, which have been prepared in accordance with UK-adopted international accounting standards.
La información financiera intermedia establecida anteriormente no constituye cuentas estatutarias en el sentido de la Ley de Sociedades de 2006. Ha sido preparada sobre la base de una empresa en funcionamiento de acuerdo con los criterios de reconocimiento y medición de las Normas Internacionales de Contabilidad adoptadas por el Reino Unido.
Statutory financial statements for the period ended 30 June 2023 were approved by the Board of Directors on 24 October 2023 and delivered to the Registrar of Companies. The report of the auditors on those financial statements was unqualified and concluded that a material uncertainty exists that may cast doubt on the group's ability to continue as a going concern. The condensed interim financial statements are unaudited.
Preocupación continua
These financial statements have been prepared on the going concern basis. Given the Group's current cash position and its demonstrated ability to raise capital, the Directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting preparing the condensed interim financial statements for the period ended 31 December 2023.
Notwithstanding the above, a material uncertainty exists that may cast significant doubt on the Group's ability to continue as a going concern and, therefore, that the Group may be unable to realise their assets or settle their liabilities in the ordinary course of business. As a result of their review, and despite the aforementioned material uncertainty, the Directors have confidence in the Groups forecasts and have a reasonable expectation that the Group will continue in operational existence for the going concern assessment period and have therefore used the going concern basis in preparing these consolidated financial statements.
The factors that were extant at 30 June 2023 are still relevant to this report and as such reference should be made to the going concern note and disclosures in the 2023 Annual Report and Financial Statements.
Riesgos e incertidumbres
El Directorio evalúa y monitorea continuamente los riesgos clave del negocio. Los principales riesgos que podrían afectar el desempeño a mediano plazo de la Compañía y los factores que mitigan esos riesgos no han cambiado sustancialmente con respecto a los establecidos en el Informe Anual y los Estados Financieros 2023 de la Compañía, cuya copia está disponible en el sitio web de la Compañía: www.cloudbreakdiscovery.com. The key financial risks are liquidity risk, credit risk, interest rate risk and unlisted investments.
Estimaciones contables críticas
La preparación de estados financieros intermedios condensados requiere que la administración realice estimaciones y suposiciones que afectan los montos informados de activos y pasivos al final del período sobre el que se informa. Las partidas significativas sujetas a dichas estimaciones se establecen en la Nota 4 del Informe Anual y Estados Financieros 2023 de la Compañía. La naturaleza y los montos de dichas estimaciones no han cambiado significativamente durante el período intermedio.
2.1. Políticas de contabilidad
The same accounting policies, presentation and methods of computation are followed in the interim consolidated financial information as were applied in the Group's latest annual audited financial statements except for those that relate to new standards and interpretations effective for the first time for periods beginning on (or after) 1 July 2023, and will be adopted in the 2024 annual financial statements.
Cambios en la política contable y divulgaciones
i) Nuevas normas y modificaciones adoptadas por el Grupo
The International Accounting Standards Board (IASB) issued various amendments and revisions to International Financial Reporting Standards and IFRIC interpretations. The amendments and revisions were applicable for the period ended 31 December 2023 but did not result in any material changes to the financial statements of the Group or Company.
ii) Nuevas normas, modificaciones e interpretaciones en vigor pero que aún no son efectivas o no se han adoptado anticipadamente
Las normas, modificaciones e interpretaciones que aún no son efectivas y no han sido adoptadas anticipadamente son las siguientes:
Estándar | Impacto en la aplicación inicial | Fecha efectiva |
NIC 1 (Modificaciones) | Clasificación de pasivos como corrientes o no corrientes | 1 de enero de 2024 |
NIC 7 (Modificaciones) | Estado de flujos de efectivo | 1 de enero de 2024 |
NIIF 16 (Modificaciones) | Responsabilidad por arrendamiento en una venta con arrendamiento posterior | 1 de enero de 2024 |
NIC 21 (Modificaciones) | Lack of exchangeability | 1 de enero de 2025 |
IAS 10 and 28 (Amendments) | Sale or Contribution of assets between an Investor and its Associate or joint venture | 1 de enero de 2025 |
El Grupo está evaluando el impacto de las normas nuevas y modificadas anteriores, que no se espera que tengan un impacto significativo en los resultados del Grupo o en los fondos de los accionistas.
3. Dividendos
No dividend has been declared or paid by the Company during the six months ended 31 December 2023 (2022: £nil).
4. Activos intangibles
As at December 31, 2023, the Group's exploration and evaluation assets are as follows:
|
| |
Activos de exploración y evaluación | 6 meses hasta el 31 de diciembre de 2023 £ | 6 meses hasta el 31 de diciembre de 2022 £ |
Sur de Timmins, Columbia Británica | 1 | 1 |
Propiedad de Klondike | - | 1 |
Atlin Oeste Propiedad | 1 | 1 |
Yak Propiedad | 1 | 1 |
Propiedad estatal | - | 12,323 |
Propiedad Rizz | 1 | 1 |
Propiedad Cascada de Hielo | 1 | 1,252 |
Propiedad del Tesoro del Norte, Columbia Británica | 110,435 | 112,623 |
Propiedad Silver Vista, Columbia Británica | - | 1 |
Silver Switchback Propiedad, Columbia Británica | - | 1 |
Apple Bay Property, British Columbia | 1 | 1 |
Foggy Mountain Property, British Columbia | - | 43,842 |
Bob Cat Property, United States | 47,927 | 48,876 |
Propiedad de Rupert, Columbia Británica | 1 | 15,119 |
Elk Creek Property, United States | 33,900 | - |
Albion Property, Estados Unidos | - | 35,697 |
Al 31 de diciembre | 192,269 | 269,740 |
As at December 31, 2023, the Group's reconciliation of exploration and evaluation assets are as follows:
| Grupo procesos | |
Activos de exploración y evaluación | 6 meses hasta el 31 de diciembre de 2023 £ | 6 meses hasta el 31 de diciembre de 2022 £ |
Cost |
| |
Al 1 de julio | 236,518 | 78,694 |
Adiciones | - | 199,346 |
Disposiciones | (42,990) | - |
Movimiento de divisas | (1,259) | (8,300) |
Al 31 de diciembre | 192,269 | 269,740 |
Propiedades en South Timmins, Canadá
Durante el año terminado 30 de junio de 2021, el Grupo pagó $27,540 16,080 CAD (£XNUMX XNUMX) en costos de participación de activos para adquirir doce títulos minerales en Ontario, Canadá, conocidos como la propiedad South Timmins.
El 23 de septiembre de 2021, el Grupo suscribió un contrato de opción con 1315956 BC Ltd, bajo el cual 1315956 BC Ltd puede adquirir hasta un 100% de participación en la propiedad South Timmins del Grupo sujeto a un retorno neto de fundición ("NSR") del 1% para el Grupo. Para que 1315956 BC Ltd ejerza plenamente la opción sobre la Propiedad de South Timmins, debe pagar al Grupo un total de $495,000 2,250,000 CAD, emitir 1315956 1,515,000 265,000 acciones ordinarias de XNUMX BC Ltd e incurrir en gastos de exploración de $XNUMX XNUMX XNUMX con un mínimo de $XNUMX XNUMX CAD en el primer año.
To date, the Group has received cash payments of $270,000 (£157,579) and 500,000 shares in relation to the option payments due under the agreement.
During the period ended 31 December 2023, $75,000 CAD (£44,475) was due as a cash payment and is still owed to the group in relation to the option payments due under the agreement. 750,000 shares were also due during the period as part of the agreement, which are yet to be received.
Rupert, Canadá
El 11 de septiembre de 2018, el Grupo celebró un acuerdo de compra de activos con una empresa controlada por un director del Grupo y dos personas no relacionadas para comprar la Propiedad Rupert, ubicada en Columbia Británica, Canadá. Como contraprestación por la propiedad, el Grupo emitió 2,000,000 100,000 59,000 de acciones ordinarias valoradas en $2 1 CAD (£1,500,000 1,000,000) y otorgó una NSR del 800,000 %. En cualquier momento, el Grupo puede comprar el 100,000% del NSR por $59,000 CAD. De las acciones ordinarias emitidas para adquirir la propiedad, XNUMX fueron emitidas a una empresa controlada por un director del Grupo. El Grupo también acordó incurrir en gastos totales en la propiedad de $XNUMX ($XNUMX CAD - £XNUMX incurridos).
El 11 de diciembre de 2020, el Grupo vendió Rupert Property a Buscando Resources Corp. ("Buscando"), una empresa con un director en común. Los pagos a recibir por el Grupo son los siguientes:
? $150,000 25,000 CAD en pagos totales en efectivo con $14,750 50,000 CAD (£12 75,000) al cierre (recibido), $24 XNUMX CAD en o antes de los XNUMX meses posteriores a la cotización de Buscando en un intercambio público, $XNUMX XNUMX CAD en o antes de los XNUMX meses posteriores a la cotización de Buscando en un intercambio público ;
? 3,750,000 acciones en total emitidas al Grupo con 1,000,000 acciones emitidas al cierre (recibidas y valoradas en $50,000 CAD - £29,500, 1,250,000 en o antes de los 12 meses posteriores a la cotización de Buscando en una bolsa pública, 1,500,000 en o antes de los 24 meses posteriores a la cotización de Buscando en un intercambio público; y
? Gastos de $200,000 incurridos en la propiedad con $100,000 CAD en o antes de los 12 meses posteriores a la cotización de Buscando en un intercambio público, $100,000 CAD en o antes de los 24 meses posteriores a la cotización de Buscando en un intercambio público.
Como resultado de la venta a Buscando, los vendedores originales renunciaron a los compromisos de exploración exigidos por el Grupo en virtud del acuerdo del 11 de septiembre de 2018.
During the year ended 30 June 2023, $50,000 CAD (£28,862) was due as a cash payment and is still owed to the Group at 31 December 2023.
Atlin Oeste, Canadá
On August 9 2021, the Group entered into an option agreement with 1315843 BC Ltd to purchase 100% of the rights to the Atlin West Project located in British Columbia, Canada. To earn a 100% interest, 1315843 BC Ltd make aggregate cash payments of $700,000 CAD, issue 8,000,000 shares in 1315843 BC Ltd and make payments of $325,000 over a three-year period to Cloudbreak. Upon completion of the work Cloudbreak will transfer 100% interest. Cloudbreak will retain a net 2% NSR. The Group has received cash payments of $100,000 CAD and 3,000,000 shares in relation to the option payments due under the agreement.
During the period ended 31 December 2023, $75,000 CAD (£44,475) was due as a cash payment and is still owed to the group in relation to the option payments due under the agreement. 2,500,000 shares were also due during the period as part of the agreement, which are yet to be received.
Yak, Canadá
On 13 October 2021, the Group entered into an option agreement with Moonbound Mining Ltd ('Moonbound'). In respect of the Yak Project located in British Columbia, Canada. Moonbound will issue Cloudbreak 2,700,000 common shares and make aggregate cash payments of $145,000 CAD over a three-year period. Additionally, Moonbound will commit to spending up to $700,000 CAD in exploration expenditure on the property and enter into a public transaction within six months of the agreement. Upon completion of the obligations, Cloudbreak will transfer 100% interest and retain a net 2% NSR. The Group received cash payments of $35,000 CAD and 700,000 shares in relation to the option payments due under the agreement.
No payments were made during the period ended 31 December 2023.
Stateline, Estados Unidos
On 9 February 2022, Cloudbreak and Alianza Minerals entered into an option agreement with Volt Lithium Corp (formerly known as Allied Copper Corp) in respect of the Stateline Project in Colorado, United States. Volt Lithium will issue the alliance 4,250,000 common shares over a three-year period and make aggregate cash payments of $315,000 CAD ($40,000 CAD paid) with a further $50,000 CAD due on closing. Additionally, Volt Lithium will commit to spending up to £3,750,000 CAD in exploration expenditure on the property over three years. The alliance will retain a net 2% NSR, not subject to a buy down provision.
On 9 August 2022, Cloudbreak and Alianza Minerals agreed to amend the terms of the Stateline option agreement with Allied Copper Corp entered into on 9 February 2022. Under the modified terms, Allied will be able to delay the issuance of shares and warrants whilst keeping the agreement in good standing. Outstanding Allied shares will become payable to Alianza and Cloudbreak is either party reduces its equity holding through sale or other type of divesture, or if additional shares are issued in Allied which would dilute either party's holdings. Up to 30 June 2022, the Group has received cash payments of $65,000 CAD and 250,000 shares in relation to the option payments due under the agreement.
Up to the period ending 30 June 2023, the Group has received cash payments of $25,000 CAD (£15,301) and 250,000 shares in relation to the option payments due under the agreement.
On 11 August 2023, the option agreement was terminated by Volt Lithium so no further payments will be received.
Cascada de hielo, Canadá
On 3 March 2022, the Group entered into an option agreement with 1311516 BC Ltd in respect of the Icefall Project in British Colombia, Canada. 1311516 BC Ltd will issue 2,000,000 common shares to Cloudbreak's subsidiary Cloudbreak (Canada) Ltd and make an aggregate of $120,000 CAD in cash payments to the Group. Additionally, 1311516 will commit to spending up to £700,000 CAD in exploration expenditure on the property over three years. This will need to be done to earn an interest of 75% in the project. Upon completion of the terms Cloudbreak and 1311516 BC Ltd will enter a joint venture in which each party will be responsible for its pro-rata share of expenditures on the project. Up to 30 June 2022, the Group has received cash payments of $25,000 CAD and 2,000,000 shares in relation to the option payments due under the agreement.
As at 31 December 2022, there is still an outstanding cash payment owed to the Group of $25,000 CAD (£15,301) in relation to the option payments due under the agreement.
During the period ended 30 June 2023, $25,000 CAD (£14,931) was due as a cash payment and is still owed to the Group of in relation to the option payments due under the agreement.
No payments were due during the period up to 31 December 2023.
Rizz, Canadá
On 25 February 2022, the Group entered into an option agreement with 1311516 BC Ltd in respect of the Rizz Project in British Colombia, Canada. 1311516 BC Ltd will issue 3,000,000 common shares to Cloudbreak and make an aggregate of $120,000 CAD in cash payments to the Group. Additionally, 1311516 will commit to spending up to $750,000 CAD in exploration expenditure on the property over three years. This will need to be done to earn an interest of 75% in the project. Upon completion of the terms, Cloudbreak and 1311516 BC Ltd will enter a joint venture in which each party will be responsible for its pro-rata share of expenditures on the project. Up to 30 June 2022, the Group received cash payments of $25,000 CAD and 3,000,000 shares in relation to the option payments due under the agreement.
During the period ended 30 June 2023, $25,000 CAD (£14,931) was due as a cash payment and is still owed to the Group of in relation to the option payments due under the agreement.
No payments were due during the period up to 31 December 2023.
Tesoro del Norte, Canadá
Durante 2022, el Grupo apostó por la propiedad Northern Treasure por $50,645 XNUMX CAD, que se encuentra en el norte de la Columbia Británica. La Compañía continúa explorando activamente esta propiedad y busca un socio para desarrollar aún más la propiedad.
On 28 October 2022, Cloudbreak announced that Precision GeoSurveys has completed a high-resolution helicopter-borne magnetic survey over the Northern Treasure Project in British Columbia.
Montaña de niebla, Canadá
Durante 2022, el Grupo apostó por la propiedad de Foggy Mountain, que se encuentra en el centro de la Columbia Británica. La Compañía continúa explorando activamente esta propiedad y busca un socio para desarrollar aún más la propiedad.
On 19 October 2022, Cloudbreak announced that that it has completed a reconnaissance surface programme at the Foggy Mountain Project in north central British Columbia, located immediately east of the past producing Kemess Mine. The property was originally staked in April 2022.
On 14 December 2023, the Company transferred their ownership and rights of a property based in Canada, the 'Foggy Mountain' project. This was disposed of as part of a settlement agreement entered with Cronin Services and Cronin Capital.
Bobcat, United States
On 6 December 2022, the Group entered a holding and cost share agreement with Longford Capital Corp pertaining to the holding, exploration, operations and development of the Bob Cat property in Idaho. The Group acquired 50% interest in the property for $60,000 USD (£47,927).
Elk Creek, United States
On 21 November 2022, the Group acquired an oil and gas lease for $43,157 USD (£33,900), for a property based in Pennsylvania, USA. The lease gives the Group full permission to conduct any and all due diligence on the leased premises, which includes inspections, tests, environmental assessments, soil studies, surveys and more.
5. Investments held by subsidiaries
Inversiones mantenidas por subsidiarias
Los activos financieros a valor razonable con cambios en resultados son los siguientes:
| Nivel A1 £ | Nivel A2 £ |
Nivel A3 £ | Total £ |
1 Julio 2023 | 771,725 | - | 119,530 | 891,255 |
Adiciones | 47,524 | - | - | 47,524 |
Disposiciones | (69,331) | - | - | (69,331) |
Cambios en el valor razonable | 5,769 | - | - | 5,769 |
Pérdida realizada en inversiones | (231,611) | - | - | (231,611) |
Divisas | 54,156 | - | (883) | 53,273 |
31 de diciembre 2023 | 578,232 | - | 118,647 | 696,879 |
As at 30 June, 2023, investments were classified as held for trading and recorded at their fair values based on quoted market prices (if available). Investments that do not have quoted market prices are measured at cost due to the limited amount of information available related to the fair value of the investments.
6. Debentures Receivable
|
|
| |||
| 6 meses hasta el 31 de diciembre de 2023 £ | 6 meses hasta el 31 de diciembre de 2022 £ | |||
Apertura | 2,059,060 | 1,657,900 | |||
Adiciones | - | 422,719 | |||
Cantidad pagable | - | 829,311 | |||
Movimiento de valor razonable | (17,025) | (7,921) | |||
Al final del período | 2,042,035 | 2,902,009 | |||
Unidad Masten, Estados Unidos
On 31 May 2022, the Group entered into an agreement with G2 Energy Corp. ('G2') on the Masten Unit Energy Project located in Cochran County Texas, United States. Whereby the Company will provide G2 with a $2,000,000 USD debenture on a two-year term in exchange for a 3.25% Overriding Royalty Interest in the Project. G2 will pay 12% per annum interest to the Company, calculated and paid quarterly in cash or shares at the discretion of the Company. As part of the agreement, The Group received 6,500,000 warrants for G2, however management have deemed that these warrants have no value at this stage as the assets held by G2 are predominantly made up of the early-stage exploration assets on which they have received from the Company. The group is in regular communication with G2 and is monitoring the results of its exploration activities that will be undertaken as the result of the funding by the Group to G2.
During the period ended 31 December 2023, the Company received 1,022,000 shares in G2 in place of the 12% interest payment that was due on 30 June 2023. $50,000 USD has been paid during the period by G2 for the September interest due, with the remaining balance expected to be paid in due time. The quarterly interest for December 2023 remains outstanding.
A total of $2,700 USD (£2,102) of royalty income was received during the period ended 31 December 2023 from G2.
Butte Strawn, United States
On 16 August 2022, the Company entered into an agreement with Iron Forge Holdings (III) Ltd (IF3). Whereby the company will provide IF3 with a $1,500,000 USD debenture for the Butte Strawn Energy Project located in Irion County, Texas. $500,000 USD was paid on signing. IF3 will pay 12.5% per annum interest to the Company, calculated and paid quarterly in cash or shares at the discretion of the Company. The Company received 6,000,000 warrants with a strike price of $0.35 CAD with a three-year term from financial close. On 16 June 2023, it was agreed that the principal value of the debenture be reduced from $1,500,000 USD to $600,000 USD with no further obligations for the Group. All accrued interest not paid as of the date of the agreement has been forgiven and both parties agreed to cancelling the warrants. The overriding royalty was reduced from 6% to 2%.
During the period ended 31 December 2023, no royalty income was received.
7. Convertible loan notes
| Grupo procesos | |
| 6 meses hasta el 31 de diciembre de 2023 £ | 6 meses hasta el 31 de diciembre de 2022 £ |
Al 1 de julio | - | - |
Adiciones | 340,000 | - |
Interest on the loans (12%) | 20,400 | - |
Al 31 de diciembre | 360,400 | - |
A loan note instrument was drawn up creating unsecured convertible loan notes up to a nominal amount of £340,000. The notes are convertible into ordinary shares of the Company at any time between the date of issue of the notes and their redemption date. On issue, the loan notes were convertible at a rate of the lesser of 5-day VWAP or £0.005. The loan note is repayable on or before 31 January 2024, at an interest rate of 12%.
8. Beneficio por acción
The calculation of the basic loss per share of £0.001 (2022: £0.01) is based on the loss attributable to equity owners of the group of £365,705 (2022: loss of £2,858,367), and on the weighted average number of ordinary shares of 607,678,805 (2022: 595,501,976) in issue during the period.
De acuerdo con la NIC 33, no se presenta ninguna utilidad por acción diluida ya que el efecto del ejercicio de opciones sobre acciones o warrants sería disminuir la pérdida por acción.
9. Hechos posteriores a la fecha de presentación
On 27 February 2024, the Company entered a three-year agreement with Lonestar Lithium Inc. ("Lonestar"), in which Lonestar purchased the proprietary database with regional modelling and data compilation across eastern Texas. Cloudbreak will receive two-million shares in Lonestar, $25,000 USD each time a qualifying transaction property is generated from the database and 0.5% royalty produced on each qualifying transaction property.
On 4 March 2024, the Company signed an amending agreement for the convertible debenture it has in place with G2 Energy TX1 Inc. ("G2"). The changes included an extension of the maturity date from 31 May 2024 to 31 May 2025, the principal amount of the debenture and all unpaid interest will be convertible into units of G2. Each unit will entitle the Company to one common share of G2 and one purchase warrant. Each warrant entitles the Company to acquire a share at a price of $0.07 CAD per warrant, or a minimum price set by the Canadian Securities Exchange (CSE). The agreement prohibits the Company from obtaining over 19.99% of shares in G2. However, if there is a default and 61 days lapse since notice is given, the debenture will be fully convertible with no limitations.
10. Aprobación de estados financieros intermedios
Los estados financieros intermedios resumidos fueron aprobados por el Consejo de Administración el 27 de marzo de 2024.
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