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80 Mile Share Chat (80M)

80 Mile Information

Share Price Information for 80 Mile (80M)

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0.81 0.02 (2.53%)

Bid:

0.812

Ask:

0.832

Spread: 0.02 (2.463%)

Market Cap: £41.32m

Last checked at -

Intraday 80 Mile Share Chart

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Continued...

3. The 10 Million Euro Grant Fiasco

While bulletin boards talk about the €10 million green hydrogen PNRR grant as a massive victory, Italian regulatory records reveal a quiet corporate disaster: Greenswitch ultimately lost or walked away from that €10 million grant.

In mid-2024, the Basilicata region officially communicated the decadence/forfeiture of the contribution for the project.

Winning a public grant in Italy is easy; executing it within strict European PNRR deadlines while undergoing complex corporate restructuring is incredibly difficult. When the grant fell through, the plant instantly lost its state-sponsored funding runway, meaning it required millions in private capital injection just to achieve a basic restart.

4. Capital Escalation (The Need for a PLC)

To scale the plant up to a capacity of 50,000 tonnes of biodiesel and Sustainable Aviation Fuel (SAF), a private individual cannot easily bankroll the required upgrades out of pocket.

The transaction saw a massive capital restructuring where Greenswitch's internal share capital was shrunk down from €2 million to €100,000 to prepare it to slide underneath the UK shell, Hydrogen Valley Ltd.

By selling the asset to an AIM-listed company (80M), Tremamunno successfully offloaded the immense capital expenditure burden of the physical restart to 80 Mile’s public retail markets and institutional placements.

5. Tremamunno didn't just give the plant away.

Through his offshore vehicle, Greendome Holdings Inc., he extracted:

An initial cash sweetener of €100,000.

A massive equity stake of 220 million shares in 80M (which he is legally free to start dealing or hedging this month as the lock-in expires).

A legal right to a massive chain of deferred milestone cash and share bonuses stretching into 2027 and 2028 (including a €750,000 cash wire next year because the share price failed to triple).

Summary

Pat Tremamunno sold because he achieved his goal: he saved a local asset from immediate liquidation, secured its initial corporate survival, and then flipped it to an AIM shell to let public market equity fund the grueling, heavily-regulated physical restart. He chose guaranteed, low-risk corporate paper and structured cash payouts over the high-risk operational headaches of running an Italian bio-chemical plant in his golden years.

As with all my posts — past, present and future — this is IMHO only. Opinion, not advice. Please DYOR before making any investment decisions.

Following Ashton’s suggestions to research Pat Tremamunno that is exactly what I did. AI came to the rescue. The results do indicate that Pat is a very shrewd businessman and paints an alternative picture of the HV / Greenswitch deal. Ashton may regret urging others to research Pat?

The investigative pieces published in Italy (particularly by regional outlets like Basilicata24 and La Gazzetta del Mezzogiorno) clarify why Pat Tremamunno decided to sell the Greenswitch plant to 80 Mile plc via the Hydrogen Valley structure.

While bulletin boards paint the asset as a straightforward money-printing machine, the local reality reveals that Tremamunno’s exit was driven by a mix of personal timing, severe local industrial headaches, and a calculated decision to cash out.

1. The "Age Factor" and Exit Plan

Pat Tremamunno is in his late 70s. He emigrated from Ferrandina to Canada in the 1960s and built a successful career there (owning Inox Industries). Local Italian journalists noted that when he bought the bankrupt plant back in 2017, it was widely seen as a rescue mission driven by "amore di patria" (love for his hometown) rather than a long-term operational play.

He openly stated to the Italian press that his intention was always to step in, clean up the initial bankruptcy structure, get it back on its feet, and sell it to a larger international group within a few years. He simply hit his personal target window to exit.

2. The Environmental "Mythen" Hangover

The facility is a former chemical plant (originally owned by Mythen Spa), and it carries a massive historical legacy. Italian environmental authorities (ARPAB) and the regional government have kept the site under intense scrutiny for years.

Legal decrees explicitly state that the underlying complex remains formally classified as a contaminated site.

The operator is legally bound to continuous, costly environmental monitoring and mitigation to minimize underground risks. Managing a heavily regulated, legacy Italian chemical site from an office in Brampton, Ontario, creates massive administrative friction that an independent private owner rarely wants to deal with indefinitely.

Continued.....

SilverFoxd

Re Ashton - he posted:

“he is an incredibly successful, ultra-wealthy businessman. He will therefore know exactly if and when to manage his 220 million shareholding, particularly as 80M enters an exciting phase with world-class assets like Disko and Jameson Land.”

The usual implication — that because Pat is successful and wealthy, he must therefore still be holding. Righto. Reality time.

Convenient narrative. But it ignores the most obvious (IMHO) alternative.

A genuinely successful businessman doesn’t make money by sitting passively and hoping. They manage positions, maximise value and reduce risk.

As already discussed, Pat has no reason to simply wait. A forward sale or similar arrangement could allow him to crystallise value now, whilst potentially increasing the likelihood of receiving additional shares if the required price trigger is not reached. Win. Win.

That would actually be exactly the sort of commercially astute behaviour you would expect from an “incredibly successful, ultra-wealthy” businessman.

Yet somehow Ashton’s preferred interpretation is always the ramping option. Fancy that.

No evidence that he’s holding? No problem — just assume it because it supports the narrative.

No consideration that he may have acted commercially? Ignore that because it doesn’t fit the ramp.

Nobody knows what Pat has done, but pretending there is only one possible explanation because they are ‘’incredibly successful’’ is just more of the same ramptastic nonsense.

Re Damers. I can’t see Damer’s posts as I filtered their claptrap some time ago — they didn’t have a great grasp of the facts then, and judging by the comments being discussed, it doesn’t seem much has changed.

First we had a stream of confident claims and assertions around GS that turned out to be, shall we say, somewhat detached from reality. Now it appears the same lack of understanding has simply moved on to JL.

Credit to you for continuing to bring facts and balance to the discussion. Unfortunately, as history shows, your accurate and well-researched posts will no doubt receive far less recs than those containing incorrect ramptastic speculation. Funny old place this board. 😉

As with all my posts — past, present and future — this is IMHO only. Opinion, not advice. Please DYOR before making any investment decisions.

Only showing the five most recent posts. Click here to view the whole thread.

Only showing the five most recent posts. Click here to view the whole thread.

Arok

“The more relevant question is whether the underlying investment case has materially changed. In my view, it hasn't.” Agree. I've not changed my opinion either.

“A falling share price doesn't automatically validate every bearish argument, just as a rising share price doesn't validate every bullish one.” 100% agree.

“The ‘I told you so’ crowd seem obsessed with short-term price action, yet that's exactly what they criticise others for.” Disagree.

I assume that’s aimed at me? “Obsessed with short-term price action” seems an odd description of trying to protect and grow capital. Surely the objective of investing is to make money?

If it becomes apparent that a share price has run too far, too quickly and is likely to retrace, why not take advantage of that? Bank the profit, then potentially buy back cheaper and own more shares for the same capital. Win. Win.

That isn't being” obsessed” with short-term price action — it is simply another investment strategy.

The alternative appears to be sitting through a 50% retracement and then waiting to recover the lost value before actually making progress. That approach may suit some, but personally I struggle to see the advantage.

''Criticise others..’’. Eh? I didn't critise anyone for taking advantage of short term fluctuations. I do criticise the RC’s repeated unfounded and unsubstantiated claims of 50X, 100X, 5 bagger, 10p by next week bla bla bla - but why shouldn't I? As has been (more than adaquatelty) illustrated - such ramps are nothing more than utter dross. Or do you disagree?

“The story wasn't proven at 1.5p and it isn't disproven at 0.75p.” 100% agree.

The only difference between us appears to be that if I believe a predictable pullback is coming, I will try to use that to my advantage. Not only that - I will post that opinion too. Others seem happy to listen to the RC, ride the full cycle down and wait for a recovery. Each to their own.

But one thing should remain true: a balanced board requires both bullish and bearish views. Anyone highlighting risks, questioning assumptions or challenging the prevailing ramptastic narrative deserves consideration — not dismissal simply because their opinion differs from the crowd. As has been shown - such an opinion can often be correct.

As with all my posts — past, present and future — this is IMHO only. Opinion, not advice. Please DYOR before making any investment decisions.