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

The RNS on 12/02/2025 alerted the market to the impending introduction of an incentive programme. This was confirmed later in the EBT RNS on 28/07/2025. In the RNS on 12/02/2025, Eric Sondergaard said: "The plant (Greenswitch) continues to evolve as expected and we are very pleased with developments to date, financing options available to Greenswitch are extensive and we are confident of the eventual outcome here. Bringing on Mendelsohn, a nationally recognised firm with extensive expertise in filing and receiving grants in Italy is a major step forward for the plants evolution to include hydrogen and sustainable aviation fuel. Shareholders can look forward to regular updates on progress with respect to grants and incentive programmes as well as project updates on Disko and Jameson. 2025 is shaping up to be our best year to date and I remain confident of success on multiple fronts in the next 6 months."

I want to focus this note on ES' statement: "2025 is shaping up to be our best year to date and I remain confident of success on multiple fronts in the next 6 months." Okay, but let's check what 80M management have actually delivered since that RNS on 12/02/2025. Here is the full list of all the RNS items. I have highlighted (in upper case) the ones I regard as particularly significant (others may have their own preferences):

11/08/2025  - Kangerluarsuk Asset Purchase Agreement Executed

31/07/2025 - Government Approves Transfer of Ownership of Disko

30/07/2025 - GREENSWITCH TO SECURE FEEDSTOCK AND OFFTAKE

09/07/2025 - 49% INTEREST IN HYDROGEN VALLEY & MOU WITH TECNOPARCO FOR SALE OF BIOFUELS

08/07/2025 - SETTLEMENT AGREEMENT WITH METALS ONE (Note: Total proceeds from the Share Sale were £1,739,006)

12/06/2025 - SALE OF KANGERLUARSUK PROJECT FOR UP TO US$2M

19/05/2025 - KOBOLD INTEREST IN DISKO REVERTS TO 80 MILE (Note: This opens the door for securing a new partner)

06/05/2025 - COURT RULES IN FAVOUR OF GREENSWITCH IN CIVIL CASE

28/04/2025 - AGREEMENT REACHED TO DRILL JAMESON BASIN

03/04/2025 - Update re Acquisition of FinnAust Mining Finland

19/03/2025 - Proposed Disposal of Finland Copper Projects

11/03/2025 - White Flame Energy Acquisition – Issue of Shares

11/03/2025 - Operational Update on Greenswitch Ferrandina Plant

We are now waiting to hear progress updates on:

1. Grants for Greenswitch (in particular, the €10 million grant).

2. Disko (in particular, securing a new partner - see footnotes below)

3. Jameson

Footnotes:

RNS 19/05/2025: “The Company remains confident of the potential of the Disko-Nuussuaq project and in its ability to now ATTRACT A PARTNER that will focus on advancing the asset to drilling and hopes to make a further announcement on this in due course.”

RNS 31/07/2025: "The Company is committed to advancing the Disko-Nuussuaq project, and remains confident of its potential. 80 Mile is currently in DISCUSSION WITH MULTIPLE PARTNERS in order to advance the project further, and this REMAI

I admire March GL's professionalism in how well they are conducting the Jameson Land Basin project. MGL have:

❖ Created a dedicated website for informing about and promoting the project - https://marchgl.com

❖ Hired three well-established and highly reputable companies to support them in progressing the project: IPT Well Solutions for the project management services; Halliburton for the initial logistics planning and for securing services; and Stampede Drilling.

❖ Created a detailed project presentation document that includes, among other things, a project management Gantt chart (slide 19) that displays events and their corresponding timescales. We never had a project chart for any of the 80M's other projects, including the then flagship project Dundas, which went from exploration licence to exploitation licence without such a chart that would have benefited stakeholders and shareholders in tracking the progress of the project - https://marchgl.com/wp-content/uploads/2025/06/2025-06-22-MarchGL.pdf

The MGL 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 must say I am truly impressed with MGL's professionalism, which gives me confidence in their drilling campaign. What is unknown is whether they will strike oil, and this uncertainty lies at the heart of the risk. JL epitomises the new energy frontier - a mix of audacity, geopolitics, and sheer geological hope. The upside is enormous if the wells succeed and geopolitical support materialises - JL's valuation could soar. But the odds of failure should not be overlooked (e.g. operational challenges are formidable). This is a roll-of-the-dice play for aggressive investors with a high-risk tolerance. Cautious investors should wait for drilling results. I have already placed my bet!

PS: For those who are new to 80M, I would suggest you take a look at the RNS dated 20 June 2024, which gives details of JLB's oil resource estimates - https://www.80mile.com/regulatory-news/63414

In my last post, I referred to only three projects: Disko, Greenswitch and Jameson but failed to mention the Thule copper project.

On 13 June 2025, I posted a note to say that the Mineral Licence and Safety Authority (MLSA) had approved a fieldwork permit (FELT 2025-52) for the mineral exploration licence MEL 2015-08. This permit allows 80M to carry out fieldwork this summer season. As we know, the licence MEL 2015-08 covers the Thule copper tenement and the RNS on 1 May 2024 referred to this licence. You will also be aware that 80M regards the Thule copper project as a separate entity from the Dundas titanium project. In fact, in his podcast in May 2024, Eric Sondergaard even went as far as to say that a major was interested in the Thule copper project.

With all this information in mind, I asked Rod McIllree at the AGM (26 June 2025) whether 80M planned to carry out any fieldwork at Thule this summer. He gave an affirmative response without going into details. Let’s wait and see what the next update on Thule says.

NB: If anyone is interested, you can check the new fieldwork permit FELT 2025-52 on the MLSA website. The permit holder is shown as Dundas Titanium A/S, and the permit expires on 30 September 2025.

Jimbolina, you say: "My average is 1.1p though so still hopeful of a re-rate of the SP at some point and hopefully some sort of pay day." I sincerely hope your patience and conviction pay off.

I am also hopeful of a share price re-rate and have taken advantage of the low share price by averaging down; it now stands at below 0.30p. On 28 April  2025, I briefly entered positive territory. I would be pleased if the share price were to reach at least 1p before the end of this year. For that to happen, 80M will have to make 'significant' progress with some or all of the key projects: Disko, Greenswitch and Jameson. The failure to deliver in the past has dented the market’s confidence in management, but let’s see how well they perform in the future.

As for Jameson, as CC has quite rightly pointed out, the project is under the control of March GL (not 80M) as they will not only be funding the drilling of the first two Wells, but importantly, will be supported by: IPT Well Solutions for the project management services; Halliburton for the initial logistics planning and for securing services; and Stampede Drilling.

Please note, the project manager IPT Well Solutions is a premier engineering and consulting firm with over 30 years of experience in drilling engineering, project management, completions, reservoir engineering, and geology. Each year, IPT evaluates hundreds of well projects across the US and internationally, delivering deep technical expertise and a steadfast commitment to environmental compliance. The firm plays a vital role in advancing sustainable energy development across oil and gas, carbon sequestration, solution mining, and geothermal projects, through rigorous analysis, regulatory guidance, and a strong focus on environmental stewardship at every stage of well planning and execution.

I am glad you have attempted to contact 80M to check on potential infrastructure funding for the Jameson project from the US/Denmark/ EU. I hope you will get a reply soon. By the way, I hope you did not use the 80M's general email address - enquiry@80mile.com - for contacting Eric Sondergaard or Rod McIllree.

Good luck with your holding!

Rach: "Sure the boats sailing is known - but beyond that…….? "

If you had seen Halliburton's project chart for Jameson, you would not have asked this question. Happy to help. See Slide 19, which gives the dates for each event, up to and including demobilisation after drilling - https://marchgl.com/wp-content/uploads/2025/06/2025-06-22-MarchGL.pdf

Rach - That's either a damn lie or you have poor memory. Although I did ask you the same question on 9 July 2025, 23:24, you never gave me an answer. Hence, why I asked the same question again. Here is the link to my original post; click on it and page down - https://www.lse.co.uk/ShareChat.html?ShareTicker=80M&share=80-Mile&page=7

Now that I have produced the date and link for my original post, let’s see whether you can provide the date and link for your alleged reply to my question. I bet my bottom dollar no such reply exists on this chat board. Prove to me that I am wrong. But please, no c-o-c-k and bull story, or deflections.

On 23 May 2025, our resident troll made a claim that the AIM regulators were investigating 80M. This was an unsubstantiated claim with no evidence whatsoever of such investigation being underway. On 30 June 2025, I asked the troll to provide credible evidence to back their claim (e.g name, contact details, and case reference for the AIM investigation so that it can be verified). The troll has since gone quiet on the matter.

You still haven’t answered my question. Why not?

That is no answer to my question. You are so predictable. But then what else can one expect from a troll.

It’s clear as crystal you are a troll with a hidden agenda and I will keep exposing you. On 12 Feb 2025 you said: "I make a comfortable living from my own portfolio."

Really, if that is the case why do you focus only on 80M and don’t post elsewhere? Let’s see you answer the question.

"However, I am prepared to do this only in your presence, in person, so that you can hear the answer from them directly for yourself. "

“Now we have Mr Proxy asking: “Has anyone asked 80M whether March GL/80M has had talks with the Trump administration about the Jameson project?” – apparently as a challenge for others to disprove his speculation. As CC has confirmed before, 80M rarely reply to ordinary investors, but Mr Proxy supposedly has a direct line. So why not ask them himself?”

Why take my intentions the wrong way and interpret it as a challenge? Seeking an answer from management to an important question to do with the Jameson project is not putting anyone to a challenge. Never mind. Anyway, as you have suggested, I am prepared to ask 80M management. However, I am prepared to do this only in you are presence, in person, so that you can hear the answer from them directly for yourself. The question to management in your presence would be: “Has any representatives of 80M have had any meeting(s) with senior cabinet member(s) of the Trump administration to discuss the Jameson project?”

By me raising the question to management in your presence it would also provide you with the opportunity to ask any follow up questions on this matter. Furthermore, it would also give you the opportunity to raise any other questions to do with the company.

Are you willing to join me at the next company's corporate meeting?

Thanks, CC, for the highlight the fact that Denmark to invest more in the development of Greenland, including in ports and critical infrastructure that could be used for raw material extraction - https://www.arctictoday.com/denmark-willing-to-invest-more-in-greenland-danish-pm-says/

I asked, “Can we rule out the possibility that March GL/80M may already have had talks with the Trump administration about the Jameson project?”

Let me now ask a second question: “Has anyone asked 80M whether March GL/80M has had talks with the Trump administration about the Jameson project?”

Https://tinyurl.com/5ez36j2z

In the note I posted on 18 July I said the kind of support the US might provide to March GL/80M on the Jameson Land project could be, for example, meeting the costs of infrastructure associated with the project once it has successfully completed the exploration phase (i.e, after the oil oil reserves from drilling have been proved). In this context, infrastructure could mean logistics such as laying pipelines and the construction of a port, etc. Can we rule out the possibility that March GL/80M may already have had talks with the Trump administration about the project? This video captures quite succinctly Greenland’s importance to the US, including a reference to the island’s oil reserves - https://www.youtube.com/watch?v=iHU5AOsESUY

The ship with drilling equipment will be leaving Halifax (Canada) for Jameson Land on 21 September.

By the way, the Pelican - Greenland Exploration Ltd Letter of Intention (LOI) announced on 23 June 2025 had a 30-day timeline to finalise the agreement. This timeline has been extended and I am expecting the final agreement to be concluded in due course followed by an announcement from Pelican. I will post the link to the announcement when it’s published.

Poiu - You say: "No doubt Ashton will have some garbage to post."

Not sure about garbage. I have no problem with 80M introducing an EBT - https://tinyurl.com/4un7dnee

However, my issues are two-fold:

1. The RNS on 28 July 2025 said "The Company intends to allocate up to 10% of its issued ordinary share capital". So, why opt for the full 10% all at once?

2. I would like greater transparency. The market has not been informed of the milestones that will be used to merit awarding shares under the EBI. So I ​promptly contacted Eric Sondergaard following the RNS on 28 July and had this reply. The performance milestones for awarding shares to Executive Directors and employees would be linked to the market cap and determined by the Remuneration Committee. The market would be informed when an award is granted. I expect that at that time we will know what milestone was achieved to merit the award. I did tell ES that 80M needs to ensure transparency in their EBT dealings to maintain shareholder confidence and avoid ​potential accusations of tax avoidance.

CC - When you used the term 'dilution', I wrongly assumed you were referring to equity dilution.

You ask why do it now? If 80M does not resume fieldwork at Disko soon (whether through a JV or independently), there is the risk of losing the licences. No fieldwork has taken place since 2022. During the licence period, the licensee is obliged to spend a fixed minimum of exploration expenses per calendar year (calculated as the sum of an amount per licence per year and an amount per square kilometre per year). In addition, a yearly licence fee is also payable as from year six of the licence period.

In 2022, KoBold overspent on exploration expenses, which helped 80M accrue credits. Thankfully, these credits have kept the licences in good standing during the hibernation period since 2022. But 80M can’t rely on the credits indefinitely, hence there is an urgency to resume fieldwork before they run out. Moreover, you don't want to enter into negotiations for a partner close to the deadline date for losing the licences, as this would weaken the company's negotiating strength. 80M has to weigh all these factors, and unfortunately, we are not privy to them.

CC - You ask how one could move Disko forward with minimal dilution.

Bluejay's partnership with Rio Tinto on Enonkoski did not result in dilution by agreeing to relinquish up to 75% ownership of the asset in return for a free ride on drilling. Likewise, 80M's partnership with March GL has not resulted in dilution by agreeing to relinquish up to 70% ownership of Jameson for a free ride on drilling. If 80M is successful in finding a partner for Disko, can we rule out a similar arrangement where dilution is avoided (at least during the initial stages of drilling)? I am only guessing here​ by asking this question, but let's wait and see what the next Disko update says.

CC - Here’s my reply, but then I suspect you already know what I am about to say.



What? - Search for Ni-Cu-Co-PGM

Why? - Potentially hugely prospective

When? - Let’s see what the next Disko update says

How? - Drilling and assay results

Where? - West Greenland

Who? - Let’s see what the next Disko update says

You ask: “ How can we be confident going forward?”

No, we can’t; because we don’t know all the facts. But management does, so they can. The question is, will management deliver on their confidence when they say:

19 ​May 2025 RNS: “The Company remains confident of the potential of the Disko-Nuussuaq project and in its ability to now attract a partner that will focus on advancing the asset to drilling and hopes to make a further announcement on this in due course.”

​31 July 2025 RNS: "The Company is committed to advancing the Disko-Nuussuaq project, and remains confident of its potential. 80 Mile is currently in discussion with multiple partners in order to advance the project further, and this ​REMAINS A PRIORITY. The Company hopes to make a further announcement on this in due course.

​Note the key words: "this remains a priority".

PS: By the way, I like the other Mr Kipling as well because he makes exceedingly good cakes. Let’s hope the next Disko update will be just as exceedingly delicious!

In September 2024, I started this compendium for the Disko project and said I would keep it updated. Here it is, fully updated.

RNS

2 May 2017 - Renewal of Disko Exploration Licences - https://tinyurl.com/y9xzasrh

20 June 2017 - Application for Disko Work Programme - https://tinyurl.com/bdc3spv7

10 July 2017 - Approval of Disko exploration programme - https://tinyurl.com/5ah44xuu

10 October 2017 - Licence Expansion at Disko - https://tinyurl.com/4j2yn9sb

8 December 2017 - Working Sulphide System Confirmed - Disko 2017 Work Programme Update - https://tinyurl.com/3b5hkjkp

2 May 2018 - Licence Expansion at Disko - https://tinyurl.com/4v95hkey

2 July 2019 - 2019 Exploration Programme at Disko - https://tinyurl.com/mkr6m9mt

14 October 2019 - Drill-ready targets increased following the completion of the 2019 Exploration Programme at Disko - https://tinyurl.com/yhzuarb9

04 February 2020 - Results of MMI and SGH Geochemical Surveys at the Disko Project and Licence Expansion - https://tinyurl.com/ms564c3p

9 August 2021 - Definitive Joint-Venture Agreement Signed with KoBold Metals to explore the Disko Project - https://tinyurl.com/y9tyeh55

1 February 2022 - Disko - New Joint-Venture Company incorporated - https://tinyurl.com/yeys268t

24 March 2022 - 2022 Disko Field Programme - https://tinyurl.com/yc6u5hfw

11 April 2022 -Disko Field Programme Update - https://tinyurl.com/3ufemekd

13 June 2022 - Disko Exploration Limited - Proposed Demerger - https://tinyurl.com/yvthswpa

10 October 2022 - 2022 Disko Field Programme Successfully Completed - https://polaris.brighterir.com/public/bluejay_mining/news/rns/story/r797vgx

21 September 2023 - Results of the 2022 Field Programme at the Disko - https://tinyurl.com/yhf5afz3

29 April 2024 - Update on Disko Project - https://tinyurl.com/57asz8sr

19 May 2025 - KoBold Interest in Disko Reverts to 80 Mile - https://tinyurl.com/2tjr4spv

31 July 2025 - Government Approves Transfer of Ownership - https://tinyurl.com/nesbmpyf

VIDEOS

February 2022 - https://youtu.be/gggOBrZQE6Q?t=6

July 2022 - https://youtu.be/uX3Pqnhzz68?t=4