Member Info for A-s-h-t-o-n

IvRoche - That was a great post. Thanks for summarising so succinctly the salient points of what was achieved and what was not from the JV between 80M and KoBold Metals.

In the 29 April 2024 RNS, 80M announced that, as a result of their exploration work and comprehensive analysis, KoBold had identified seven initial priority targets within the project area, and that these targets exhibited spatial characteristics indicative of potential deposits on a scale comparable to renowned mining operations such as Norilsk, Voisey's Bay, or Jinchuan. It further said that to de-risk drilling, these priority targets would undergo a focused ground-loop electromagnetic survey to refine and prioritise each locality appropriately.

Importantly, there was also a quote from Kurt House, CEO of KoBold, in the ​RNS. It said, "The FOUNDATIONAL PROSPECTIVITY of Disko remains COMPELLING." They also advised that the next best step to progress the exploration was an EM survey. But why did KoBold then walk away after saying Disko's prospects are compelling?​ Has anyone asked this question from 80M?

Here is the full quote from Kurt House, KoBold Metals CEO: "We are thrilled to have Eric back at the Bluejay helm; he's a great technical operator, and with his leadership, we look forward to unlocking the full potential of our partnership. The FOUNDATIONAL PROSPECTIVITY of Disko remains COMPELLING, and we're keen to figure out the most effective way to deploy our technology for the project's advancement. Our AI and machine learning platforms are most effective when integrated into the exploration workflow, and we believe that an active ground EM survey guided by KoBold's stochastic-inversion technology is the best next step in the Disko campaign." - https://www.80mile.com/regulatory-news/63411

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CC - You ask, "What did the JV with Kobold deliver?" I refer you to the RNS dated 29 April 2024.

You also ask, "Why do you think news is close?" A Disko update is due shortly, and I refer you to the RNS dated 19 May 2025, 31 July 2025 and 10 September 2025.

I am posting this information mainly for the benefit of newcomers to 80M who want to brush up on Disko.

80M's assessment and investigation over the last several years identified more than 20 drill-ready targets on licence holdings at Disko. Of the targets identified, there are seven large conductive targets previously defined by Vismand Exploration and Avannaa Resources and reconfirmed by 80M. The two largest conductive targets are extraordinary in scale, the largest being more than 10.0 kilometres long and around 2.0 km wide and another being around 4.8 km long and 800 metres wide; both comparable in footprint to the world-class Noril'sk-Talnakh ore bodies in Siberia. More details about the comparison with Norilsk can be found in the RNS dated 1 February 2022 (1st link below). The RNS refers to MMC Norilsk Nickel​'s Annual Report 2020. ​But take a look at the most recent Annual Report 2024 (2nd link below). You may wish to study the following sections in the report:

Business Model - Pages 14-15

President's letter - Pages 22-23

Nickel, Copper and PGM Markets - Pages 24 - 33

Mineral Resource - Page 64

The President’s letter refers to a revenue of US$12.5 billion and EBITDA of US$5.2 billion. These figures demonstrate that if Disko drilling confirms that the asset is comparable in scale and grade to Norilsk, we are talking of a highly valuable asset. As I have already said, Rod McIllree is a great fan of Disko. In this video, he talks about Disko and also refers to Norilsk (3rd link below).

In 2021, 80M signed a JV with KoBold Metals on Disko. Following an intensive period of analysis and interpretation, KoBold's technical teams completed the integration of the extensive geochemical, geophysical, and geological data collected during the 2022 exploration campaign. As a result of their work, KoBold identified seven initial priority targets for drilling within the project area. KoBold exited from the JV this year but retains a 2% revenue-based net smelter return (NSR) royalty (explanation below).

An update on Disko is expected shortly.

https://80mile.com/regulatory-news/63324

https://nornik-upload.storage.yandexcloud.net/iblock/10c/g9x5rk7frhexv7wik88c45ao33imnghj/2024-Annual-Report-of-PJSC-MMC-Norilsk-Nickel.pdf

https://www.youtube.com/watch?v=i_9UOExW7Wc

NSR: For example, if a mine operator sells gold for $900 per ounce to a smelter and its cash costs are $300 per ounce, the holder of a 2% NSR would receive roughly $12 per ounce [(900 -300) ÷2/100]. Typically, the standard NSR agreement runs between 2% and 5%, meaning a mine operator is obligated to pay 2% to 5% of the net smelter return to the royalty holder. Depending on the terms negotiated in the contract, the payments may be variable or fixed. In the case of KoBold Metals, it's fixed at 2%.

CC - You say, " It's not just the scale of Disko, it's the grade."

Yes, Disko could offer both scale and grade - https://www.80mile.com/disko-nuussuaq

On 29 February 2024, Amaroq Minerals ​were thrilled to announce a significant new nickel-copper discovery at its Stendalen project. They were excited ​to state, “Calculation of the tenor of the sulfides, based upon the assays received, implies that, due to relative metal content, Stendalen holds the ability to host grades similar to analogous deposits, therefore if intersected, massive sulfide could hold grades of up to 3 – 5% nickel equivalent.” - https://www.globalminingreview.com/exploration-development/01032024/amaroq-announces-new-nickel-copper-discovery-at-sendalen/

Let’s hope Disko turns out to be on a much higher ​level than Stendalen​ in terms of both scale and grade. As I have already said, the only way to find out is by drilling​!

Yes, how can one forget that boulder! The RNS on 2 May 2017 reported: "A 28 tonne boulder of MMS (assayed 7% nickel, 3% copper and 2ppm PGE) taken from Disko sits in the foyer as the centrepiece of the Danish Geological museum in Copenhagen." - https://www.80mile.com/regulatory-news/63086

These two reports from GEUS cover Greenland's nickel resource potential. If you have the time, take a quick look.

https://data.geus.dk/pure-pdf/2010_Secher_Greenlands_nickel_resource_potential.pdf

https://data.geus.dk/pure-pdf/2018_Stensgaard_Magmatic_nickel_potential.pdf

Page 2 of the first report says, " In the 1980s, GEUS and university groups focused on the formation of massive sulphides in the Palaeogene basalts on Disko Island, and this has led to continued exploration for Noril´sk type mineralisations. The find of the Voisey’s Bay deposit in Labrador in 1994 revived exploration activity worldwide, not least in Greenland. Today, nickel exploration can benefit from the more intensive search for PGEs."

Page 9 of the second report says, " In the 1930s, 28 tons of massive nickel sulphide was extracted from the Ilukunnguaq dyke located on the north-east part of the island of Disko. Since then several companies have explored for nickel in the area, including Cominco, Inco /Falconbridge, Vismand Exploration, Avannaa Resources and latest Disko Exploration."

Rod McIllree is a great fan of Disko. The only way to find out is by drilling. Let's see what the Disko update says.

"More news to come?"

Yes, Disko!

⚠️FUD ALERT⚠️

Rach says: "ARCO’s complete withdrawal from the area always looked suspiciously “convenient.”

See March GL's Jameson Land project presentation slide 13 - https://marchgl.com/wp-content/uploads/2025/06/2025-06-22-MarchGL.pdf

Correction: Where I have said "Greenland Energy Limited", it should read "Greenland Energy Company".

The announcement dated 10 September 2025 from Pelican Acquisition Corporation said: "The transaction will include a series of mergers whereby Pelican, Greenland, and March GL will each merge with subsidiaries of Pelican Holdco, Inc. (“Holdco”), a newly formed Texas corporation to be renamed Greenland Energy Company."

​The ​RNS dated from 10 September 2025​ from 80M said: "Roderick McIllree will be appointed to the Board of Pelican as an executive director, representing 80 Mile."

Pelican Acquisition Corporation announcement 23 June 2025 - https://www.globenewswire.com/news-release/2025/06/23/3103853/0/en/Pelican-Acquisition-Corporation-Signs-Letter-of-Intent-to-Acquire-Greenland-Exploration-Limited.html

Pelican Acquisition Corporation announcement 10 September 2025 - https://www.globenewswire.com/news-release/2025/09/10/3147758/0/en/Pelican-Acquisition-Corporation-NASDAQ-PELI-Announces-Definitive-Merger-Agreement-with-Greenland-Exploration-Limited-and-March-GL-Company-with-the-combined-company-to-be-named-Gree.html

panman - you are spot on, and absolutely right​ when you say the focus of the new company, greenland energy limited, is greenland.

rach - you are mistaken. you quote a statement contained in the announcement dated 23 june 2025 from pelican acquisition corporation: "greenland exploration limited is a texas-based entity focused on developing strategic positions in north american energy assets. through its partnerships and future acquisitions, gel aims to deliver long-term shareholder value in a dynamic and evolving energy market", and used it to support your comments. the statement you have chosen is now redundant because greenland exploration limited is no longer an entity, as it has been replaced by the new company greenland energy limited. greenland energy limited is a combination (merger) of pelican acquisition corporation, greenland exploration limited and march gl.

the statement we should focus on, for the purpose of our discussion, is contained in the announcement dated 10 september 2025 from pelican acquisition corporation, and i quote: "this transaction marks a watershed moment in bringing greenland's vast energy potential to the global stage," said larry g. swets, jr., chief executive officer of greenland exploration. "we're excited to partner with robert price and his exceptional team at march gl, working alongside greenland exploration to establish the first u.s. public company focused on this critical opportunity. we believe that by uniting greenland exploration's proven resource portfolio with march gl's operational excellence and pelican's capital markets expertise, greenland energy will be uniquely positioned to drive responsible growth, accelerate economic diversification in greenland, and advance strategic priorities for the united states and our allied partners.”

the latest statement (10 september 2025) makes it crystal clear that the focus of the new company, greenland energy limited, is to bring greenland's vast energy potential to the global stage.

pelican acquisition corporation announcement 23 june 2025 - ********************mws4s7y7

pelican acquisition corporation announcement 10 september 2025 - ********************mrx779e6

Continued....

I will now declare my vested interest in the company. By taking advantage of the recent low levels of the share price, I have managed to bring down the average price of my shareholding substantially, and in the process​, I have built quite a LARGE pot. On 28 April 2025 - when the share price was at 0.28p - this is what I said in a note I posted here: "I have got the average price for my 80M share holding down to below 0.30p and am already in positive territory. I would be pleased if the share price were to reach at least 1p before the end of this year (2025). That's a wish/hope rather than a prediction. But who can predict the peak if the two or all three events (to do with Disko, Greenswitch and Jameson Land) that I have highlighted were to come to fruition before the year is out?"

What I highlighted then were three questions which I presented in my post on 28 March 2025:

1. Is it likely or unlikely that Disko will be drilled this year (2025)? (My comment now: Unlikely, but let’s see what the next update on Disko says).

2. Is it likely or unlikely that Jameson Land will have a partner this year (2025)? (My comment now: 80M announced March GL as its partner on 28 April 2025 - as it happens, exactly one month after I raised the question)

3. Is it likely or unlikely that there will be production at Greenswitch this year (2025)? (My comment now: We are waiting for an update on this matter)

If you want to read my posts, click on this link. Even if you don't share my ultra enthusiasm for 80M's assets, I hope the cache of research material I have shared here over the past few years will be of some use - https://www.lse.co.uk/profiles/a-s-h-t-o-n/

My initial investment timeline was ​the Disko drill results. My new timeline is Disko and Jameson Land drill results. Rod McIllree regards Jameson Land as potentially the most valuable mining asset in Greenland, followed by Disko. I can't wait for the next update on Disko.

Good luck!

Unless you are new to this chat board, you will already know that I am an ultra enthusiast of 80M's assets and have posted circa 1,100 notes here since coming on this chat board in July 2020. This is a brief résumé of my profile.

I became a shareholder for the very first time in May 2020, mainly on the strength of my unflinching and unwavering belief in the prospectivity of Disko - even before KoBold Metals arrived on the scene in 2021! So much so that in September 2024, I even started a thread here with the title: "Think Disko, Think Disko and Nothing But Disko!". Since then, 80M has acquired Greenswitch (June 2024) and Jameson Land (December 2024). Since becoming a shareholder, I have attended EVERY corporate meeting of the company. Attendance at these meetings has enabled me to raise searching questions and seek clarifications from the BoD on the progress of the company, and also get to know members of the Board better. It also gave me the opportunity to meet fellow shareholders, including a few posters here. In addition to attending the meetings, I also contact the BoD should I have any concerns about the company or when there is a need to seek clarifications on RNS releases. On top of all this, I do in-depth research on the company, on the bigger picture in the relevant mining sector. Also, when necessary, I have sought and received information from the Mineral Resources Authority, Government of Greenland. All this has helped to be an active shareholder in building knowledge about 80M.

​One bigger picture factor that attracted me to invest in 80M was that Greenland is full of everything that the Western world needs, and that it is a safe, stable jurisdiction, which falls beautifully between Europe and America.

Continued.....

If you are new to 80M ​and interested in the company's Jameson Land project, you may wish to use these links to access research material relating to JL:

❖ 80M's RNS (20 June 2024) that announced the acquisition of the JL asset - https://www.80mile.com/regulatory-news/63414

❖ March GL website - https://marchgl.com/

❖ March GL's presentation document on the JL project - https://marchgl.com/wp-content/uploads/2025/06/2025-06-22-MarchGL.pdf

❖ Frontier Exploration Opportunity Jameson Land Onshore East Greenland - https://www.ges-gb.org.uk/wp-content/uploads/2018/03/S5-10.40-Mike-Bilsland-Greenland-Gas-Oli-pdf.pdf

❖ Strategic acquisition of a large hydrocarbon play in Greenland - https://www.80mile.com/sites/default/files/content-files/MC%20JAY%20200624.pdf

❖ Podcast by Rod McIllree (Executive Director 80M) on JL - https://www.youtube.com/watch?v=HGLMGm0zyEU&t=1s

The March GL consortium is made up of oil industry men from Austin (Texas) and Denver (Colorado), comprising 10 people at this stage. Some are individuals, and others are family oil dynasties. Basically, they are a collection of wildcatters who have made fortunes in the US over the last 40 years.

I am expecting the next announcement to be on Disko.

I recently produced a compendium on Disko. Click on this link and read the post dated 31 July 2025 - https://www.lse.co.uk/ShareChat.html?ShareTicker=80M&share=80-Mile&thread=46D0F8B6-D677-4266-BF4A-DA4547E49E20

project and said I would keep it updated. Here it is, fully updated.

Https://www.globenewswire.com/news-release/2025/09/10/3147758/0/en/Pelican-Acquisition-Corporation-NASDAQ-PELI-Announces-Definitive-Merger-Agreement-with-Greenland-Exploration-Limited-and-March-GL-Company-with-the-combined-company-to-be-named-Gree.html

the board of directors and executive management team of the newly formed greenland energy company (to be listed on nasdaq: "glnd") will be led by larry g. swets, jr., as executive chairman, and robert price as chief executive officer, and will include representatives from greenland exploration, march gl, and pelican - ********************mwpue79r

if you are new to 80m, the company's three key projects are: disko, greenswitch and jameson land.

80m shareholders will already be familiar with the name robert price. on 19 december 2024, 80m announced that rp would join the group as ceo of 80m's newly formed industrial gas and petrochemical business unit hydrogen valley/greenswitch (based in italy), with eric sondergaard remaining as 80 mile group's ceo and md. rp attended the 80m's general meeting on 13 january 2025. i too was at the meeting and had a brief chat with him.

so, it is worth noting the fact that rp's connections to 80m are not only via the jameson land asset but also the greenswitch asset. both these assets are in the energy market. you can read about rp's profile and what he said about greenswitch in this 80m rns - https://80mile.com/regulatory-news/75603

rod mcillree has highlighted in today's rns that we can expect news on disko.

Everything he/she posts is in their own self-interest, not in yours. They admitted it: “I view 80M as uninvestable for a long-term hold… I trade Jay/80M for the volatility.”

That means the 500+ posts of “caution” aren’t good-faith warnings for shareholders - they’re about talking down sentiment while waiting to trade the next spike.

Read the posts if you want, but do it knowing the agenda: this isn’t balance, it’s book-talking dressed up as FACTS.

DO YOUR OWN RESEARCH!

Continued......

Investors and potential investors may wish to use these links to access research material related to do with JL:

❖ 80M's RNS (20 June 2024) that announced the acquisition of the JL asset - https://www.80mile.com/regulatory-news/63414

❖ March GL's presentation document on the JL project - https://marchgl.com/wp-content/uploads/2025/06/2025-06-22-MarchGL.pdf

❖ Frontier Exploration Opportunity Jameson Land Onshore East Greenland - https://www.ges-gb.org.uk/wp-content/uploads/2018/03/S5-10.40-Mike-Bilsland-Greenland-Gas-Oli-pdf.pdf

❖ Strategic acquisition of a large hydrocarbon play in Greenland - https://www.80mile.com/sites/default/files/content-files/MC%20JAY%20200624.pdf

❖ ​Podcast by Rod McIllree (Executive Director 80M) on JL - https://www.youtube.com/watch?v=HGLMGm0zyEU&t=1s

continued.....

investors and potential investors may wish to use these links to access research material ​related to the jameson land project:

❖ 80m's rns (20 june 2024) that announced the acquisition of the jl asset - https://www.80mile.com/regulatory-news/63414

❖ march gl's presentation document on the jl project - ********************nwymr3pv

❖ frontier exploration opportunity jameson land onshore east greenland - ********************3thtayts

❖ strategic acquisition of a large hydrocarbon play in greenland - ********************ykz8pt7k

❖ podcast by rod mcillree (executive director 80m) on jl - https://youtu.be/hglmgm0zyeu?t=1