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

Continued...

Since we don't know the annual operating costs for Greenswitch, it is difficult to forecast the combined optimal output levels for the various products for the plant to break even, and then to start making a profit. The costs of feedstock material will also have to be taken into account in this regard. All that we can say with some confidence at this stage is that a sale of 40,000 tonnes per year of biofuel @ $500 per tonne would generate an income of $20,000,000 or circa £14.5m per year (as ButonD has posted). It must also be said that since the plant has been refurbished recently, it is not unreasonable to assume that it will not require major equipment replacement for the next few years, but it will still incur normal routine maintenance costs. In a nutshell, what I am trying to say is that any attempts to forecast a reliable annual net profit are all but impossible until we have some figures from 80 Mile.

According to the RNS on 11 March 2025, at full operational level, the Greenswitch plant has a nameplate capacity of:

❖ Biodiesel Unit: 185,000 tonnes/year

❖ FEROIL Esterification Unit: 200,000 tonnes/year

❖ ESBO Epoxidation Unit: 15,000 tonnes/year (batch mode).

❖ Glycerine Recovery & Purification Unit: Producing ≥98% purity for high-value applications.

I thought this information about the production of different products would be of interest.

TRANSESTERIFICATION PLANT (BIODIESEL): The transesterification plant produces biodiesel from any refined vegetable oil, refined animal oils, and refining oils. The production capacity of the transesterification plant is 120,000 tons/year, with an authorised capacity of 200,000 tons/year.

ESTERIFICATION PLANT (FEROIL): The esterification plant (FEROIL) is where raw materials of biological origin with high acidity (as vegetable oils or fatty acids of vegetable or animal origin ) are transformed into low acidity oils by esterifying with technical glycerine. In particular, raw materials such as vegetable oil are used to produce biodiesel, while fatty acids are used to produce biodiesel and/or green fuel. The production capacity of the FEROIL plant is 200,000 tons/year.

EPOXIDIZED SOYBEAN OIL (ESBO): This product is a mixture of organic compounds resulting from the epoxidation of soybean oil and is a green chemistry product. It is primarily used as a plasticizer and stabilizer for PVC compounds and is an important alternative to additives containing phthalates in the food sector. Epoxidized Soybean Oil is an excellent co-plasticizer and secondary heat and light stabilizer in the production of PVC and its copolymers. It is used as an acid scavenger in the production of flexible PVC. Epoxidized Soybean Oil can be used as a pigment dispersing agent, chemical intermediate, lubricant, and in functional fluids, coatings and adhesives. The production capacity of the ESBO plant is 10,000 tons/year, with a maximum capacity of 15,000 tons/year.

VEGETABLE GLYCERINE PURIFICATION AND REFINING: The plant can purify and refine raw glycerine from the transesterification process into technical glycerine (glycerine content ≥ 98%) or pharmaceutical glycerine. The production capacity of the plant is 15,000 tons/year.

Continued....

If you want to quote me, do it fully. I said RM sounded optimistic, but I then qualified it by saying, let's see what the update says. 

Why did you leave out my qualification?

You say, "My only agenda here is to ensure a balanced representation of the facts."

You don't post on any other stocks, so please answer this question. Why have you picked only 80M for your posts and not any others for your supposedly balanced representation of facts? 

Please answer my two questions.

On 12 February 2025, 80M announced an agreement between Greenswitch and Mendelsohn Development Agency for MDA to progress financing initiatives for Greenswitch. ​MDA was due to start work immediately on making applications for several funding possibilities already identified for Greenswitch's biofuel development plan. The same RNS said, Greenswitch was awarded, through the National Recovery and Resilience Plan, €10 million for its green hydrogen development project. This award expired before Hydrogen Valley was able to close on its acquisition of Greenswitch last year. Therefore, Hydrogen Valley had requested that such a grant be reassigned to Greenswitch and was waiting for a response. We are now awaiting an update on this matter.

After the AGM on 26 June, I managed to speak to Rod McIllree ​(only very briefly​) about ​grants for Greenswitch, and he sounded optimistic. But let's see what the update on this matter says.

​https://www.80mile.com/regulatory-news/79707

The corresponding Metals One RNS

https://otp.tools.investis.com/clients/uk/metals_one_plc/rns/regulatory-story.aspx?cid=2778&newsid=1963720

Rach (6 Jul 2025 16:17): "The sales that have occurred have been anything but lucrative."

In plain English, what this means is that all sales to date, including the Finnish assets, have not been lucrative. But Rach then goes and makes this statement.

Rach (7 July 12:59): "I never used the word lucrative."

Stop deflecting!

"Someone seems desperate enough to speculate about whether I hold shares in 80M."

Why should I speculate when, by your own admission, you are not a shareholder because of what you have said, and here it is:

2 May 2024 at 20:10: "I'm looking for some real news and not just the bs they keep serving up - the lucrative sale of an asset or the partnering of a major - THAT'LL BE THE TIME I'D CHOOSE TO BUY. Until then what has Jay to offer? Would you be buying now?"

"For every positive biofuel story out there, there’s often a counterbalance."

I would say ""For every negative biofuel story out there, there’s often a counterbalance."

CC - ​Thanks for posting that news as well. When there is so much good news about the future of biofuels, and despite this fact, to claim the opposite makes you wonder about the hidden agenda.

GALP ENERGIA is constructing a new, large-scale biofuel plant in Sines, Portugal, with the goal of producing 270,000 tons of renewable fuels annually, starting in 2026. This facility, part of GALP's broader decarbonisation strategy, will focus on producing low-carbon fuels, including those for aviation, to meet European Union mandates. The plant will utilise Hydrogenated Vegetable Oil (HVO) technology, converting materials like used cooking oils and animal fats into sustainable fuels. Construction is already underway, and the facility is expected to begin production in 2026. The project aims to decarbonise the transport sector, particularly aviation, by providing low-carbon fuel alternatives to fossil fuels. It also aligns with the European Union's RePowerEU objectives. The European Investment Bank (EIB) is providing €250 million in financing for the project. Total cost of the project €449 million. Here is the announcement from the European Investment Bank - https://www.eib.org/en/projects/pipelines/all/20240187

Continued...

Turning to the bigger picture...

IEA: According to the International Energy Agency, biofuel demand is set to expand by 38 billion litres over 2023-2028, a near 30% increase from the last five-year period. In fact, total biofuel demand rises 23% to 200 billion litres by 2028, with renewable diesel and ethanol accounting for two-thirds of this growth, and biodiesel and biojet fuel making up the remainder - https://tinyurl.com/yc74yrdu

CORSIA: The Carbon Offsetting and Reduction Scheme for International Aviation's mandatory stage begins in 2027 and will cover all international flights (including those travelling to or from countries that had not volunteered for the early phases) - https://tinyurl.com/mr3eshx8

​IATA: The International Air Transport Association (IATA) announced the release of the Sustainable Aviation Fuel (SAF) Matchmaker platform, to facilitate SAF procurement between airlines and SAF producers by matching requests for SAF supply with offers - https://tinyurl.com/2u3rzr7j

President Trump signed the National Energy Emergency Order on 20 January 2025. The order included biofuels. Please see Section 8 (a) - https://www.whitehouse.gov/presidential-actions/2025/01/declaring-a-national-energy-emergency/

Waste from around the world is increasingly being diverted to the US for biofuel production, helping ​decarbonise hard-to-electrify sectors like trucking and aviation. But as refiners turn away from conventional crop-based feedstocks, farm groups fear missing out on the biofuels boom. Driven by low-carbon fuel standards (LCFS) in states like California, US renewable diesel production capacity has more than doubled over the last two years to hit a record high of 4.1bn USG/yr in April, according to the Energy Information Administration. Soybean and canola processors have invested in expanding crush capacity, expecting future biofuels growth to lift vegetable oil demand - https://tinyurl.com/3k2tfdvn

​You get the picture......

According to our resident non-shareholding perennial deramper and FUD spreader, ".... biofuel plants are shutting down and new builds are being cancelled due to weak demand and falling prices."

Really! ​The news out there paints quite a different picture. Several companies are actively expanding their biofuel production capacity. This expansion is driven by increasing demand for sustainable and renewable energy sources, particularly in the transportation sector. Here is just a sample of ​recent news​ items:.

GREENERGY: ​The company completed upgrades to their biodiesel plants in Amsterdam and on Teesside, increasing production capacity and allowing for the use of a wider range of waste oils - https://tinyurl.com/4nweyyjx

MOEVE: ​The company expanded by introducing a new biofuel plant in Spain ​which will double ​Moeve's 2G biofuels capacity by 2026 - https://tinyurl.com/5d4ukse3

GRUPO POTENTIAL: Announced plans to invest $109 million to expand its biodiesel plant in Brazil, increasing production capacity significantly - https://tinyurl.com/4p3vmcar

METAFUELS AND EVOS: Swiss aviation technology company Metafuels AG is to open a new synthetic sustainable aviation fuel (e-SAF) production plant in the Port of Rotterdam. Metafuels and Evos Rotterdam are working together to take the next steps to progress the development of the project. Evos is a leading liquid energy and chemicals storage company in Europe committed to supporting innovative energy solutions. This project builds on Metafuels’ expanding European footprint, following the 2024 announcement of Pizol – its planned production facility in Denmark - https://tinyurl.com/52372pvc

CERTAS ENERGY: Certas Energy has partnered with Silverstone Circuit to supply Hydrotreated Vegetable Oil (HVO) at some of its biggest events at the home of British motorsport - https://tinyurl.com/3w44vhvv

​Continued...

If you're seriously interested in learning about the Greenland Government's strategy for the country’s mineral resources industry, I would suggest you take the trouble to study this official document, in particular, the sections PREFACE,  VISION, INVESTMENTS, CRITICAL MINERALS and CONCLUDING REMARKS. I have selected a few key takeaways from the document as follows:

1. The society depends on things that are only possible because of mining. (page 1)

2. The exploitation of minerals and the strengthening of the industry create new income opportunities for an increased number of Greenlandic citizens. and can aid the possibility of the country’s financial independence and autonomy in the long term (page 11).

3. The mineral resources industry must be further developed to contribute more to the national economy.  Greenland has great mineral potential and therefore a need to promote investment opportunities, as there are high costs associated with establishing a mine. In this strategy period, initiatives will be launched to attract investment and promote project financing (e.g. by facilitating meetings between the raw materials industry and investment funds with the involvement of international partners). Mining is capital-intensive and is a very long-term investment. It takes an average of 16 years to establish a mine, from the initial exploration phase to mine opening. During that time, there is no revenue and only costs for everything from analysis, fieldwork, surveys and construction of buildings and infrastructure, often with high technical requirements, etc. Currently, project owners bear the majority of the financial risk and the lack of investors is hampering development globally. This means that some projects do not develop despite good geology and potential. The challenges of obtaining financing for Greenlandic projects are therefore high on the agenda in the coming strategy period. (page 19)

4. The production of technologies for the green transition requires more and different minerals than the hydrocarbon-based technologies they replace, e.g., copper, cobalt, and rare earth metals. Critical minerals are also important for the expansion of renewable energy in the EU, which will reduce the EU's import dependence on hydrocarbons from outside the EU and contribute to the European goal of achieving climate neutrality by 2050 (page 24).

5. Mining is a true opportunity for the development of Greenland as a whole, and its citizens in particular (page 35).

The key overall twin-message from the strategy is clear: (a) The Greenland Government wants to see a thriving minerals resources industry for the benefit of all its citizens and the global community. (b) A successful mineral resources industry can help the country achieve its goal of freedom from financial dependency on Denmark.

Enjoy the read!

https://naalakkersuisut.gl/-/media/nyheder/2025/01/3101_ny_raastofstrategi/eng_greenland-mineral-resources-strategy-2025-2029.pdf

Some of the positive excerpts from the article (dated 20 June 2025) shared yesterday:

"Naaja Nathanielsen, Greenland’s minister for business and mineral resources, told CNBC that exploiting some of the territory’s highly prized minerals is “absolutely possible and viable,” noting that several mining projects are already underway.

“We do have projects underway that I think are very promising: graphite, gold, copper, nickel, molybdenum and so on. Rare earths as well,” Nathanielsen told CNBC’s.

There are currently only two active mines in Greenland, and 8 mining companies hold Exploitation Licences, one of which is Dundas Titanium A/S. What was shared was a media article. I will post the official position of the Government of Greenland on the mineral resources sector later.

An opinion is just that; however, when claiming something as a fact, one should be prepared to back it up with evidence. It's not a case of dancing to anyone's tune but doing the decent thing.

PS: It is pleasant here too in Hampton Court, especially the walk along the Thames by the Palace.

"i stand by that statement — it reflects the understanding i reached through my own research efforts. if you’re looking to confirm or dispute it, and want specifics such as names, contact details, or a case reference, then i’d suggest contacting the aim regulations team directly. given your frequent emphasis on your own research abilities, i’m sure it would be easy enough for you to follow up and obtain the information you require."

poppy****! the onus is not on me to prove the authenticity of your claim, it's down to you. in the future, please don't make such outrageous and unsubstantiated claims if you are not able to back them up with evidence.

CC - I asked RM whether he was able to confirm March GL's date for drilling Well 1 in Q4 2025. He did not dismiss the date but was reluctant to confirm any dates until 80M had received the final approval for drilling from MLSA.

I see the respective roles of MGL and 80M as follows: (a) MGL - Field Operations Manager for Project 1 and, subject to its successful completion, for Project 2, and fully funding all the costs associated with drilling Well 1 and Well 2, including mobilisation/demobilisation costs. (b) 80M - Support on geological aspects, ensuring regulatory requirements are met (liaising with MLSA on fieldwork permits, completion of EIA and SIA, etc) and consultation with local citizens and stakeholders.

My impression is that MGL will be managing and leading the show on all matters to do with operations, supported by IPT (Engineering); Stampede Drilling (Drilling) and Halliburton (Logistics and Service Provider). MGL is made up of individuals and members of oil dynasty families. They are basically a collection of wildcatters who have made fortunes in the US over the last 40 years. They are in a hurry to make money from their investment in Jameson.

I will let Cheshirebull update you on Greenswitch because he and the other shareholder were engaged in an intense conversation with Rod McIllree about this project after the meeting finished.

PS: There was no discussion on the Finnish gas assets.

You made the claim (23 May 2025): "It appears that the AIM regulations team is currently reviewing the matter."

This is an unsubstantiated claim with no evidence whatsoever that ​the AIM ​regulations team is reviewing the matter. Please provide credible evidence to back your claim (e.g name, contact details, and case reference code at the AIM investigating team so that it can be verified).

Https://tinyurl.com/26p339ny

fud spreading (23 may 2025): "it appears that the aim regulations team is currently reviewing the matter. hopefully, any potential shortcomings in the two companies’ approach to their fiduciary duties and obligations to shareholders will be appropriately addressed."

for the benefit of newcomers, we had a poster here named definitely-yes (also known as romain picard, francium llc), who launched a litigation campaign against 80m/jay and canvassed for support. the litigation attempt failed as he had no case, and we have not heard from definitively-yes since then. i am intrigued that there has been no update from definitely-yes on this matter. you can look up his posts using the lse chat board search facility under the epic symbol jay. his last post was on 5 may 2024, and he has not posted under this name since the company changed its name to 80 mile.

can anyone care to update on this unsubstantiated claim that the aim regulations team is investigating the company? i wonder whether the failure to make progress via the litigation route has now manifested in mounting a different type of campaign against the company (e.g. via social media).

https://*************.com/partners/bida_230824.pdf