Shares of Cloudbreak Resources (TSX: V.CDB, Stock Forum) jumped 20% to six cents Thursday after it reported that Saskatchewan Energy and Resources has delivered additional coal permits to the company, encompassing 4.5 full or partial townships.
To date, Cloudbreak says all of its coal and potash permit applications have been processed.
The company notes that it has approximately 520,000 acres of coal permits in Saskatchewan and approximately 350,000 acres for the rights to subsurface potash in the Vermillion area on the Saskatchewan-Alberta border.
Cloudbreak also received a $57,314 refund from Saskatchewan Energy and Resources for rejected applications relating to 5.5 full or partial townships, and also withdrew applications for nine full or partial townships in Saskatchewan and has received a refund of $82,944. The company also received a refund of $10,437.50 from the Department of Alberta Energy, Mineral Development Division for rejected applications for the rights to subsurface potash.
Cloudbreak says it has been in contact with a number of drill rig operators regarding the Saskatchewan coal permits, and notes that it is gathering historical data on the permitted grounds in Saskatchewan and is working on an updated map of the permitted areas.
In a post entitled “Pon bought out by KCL”, initially referring to another news story on Thursday, Murphymouse said: “I don't minfd that KCL will go back to $6
CDB is probably in somebody's sights as well[sic]…”
