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

Amusing stuff - The desperation to deramping and FUD spreading at full swing!

"It’s naive to assume that KoBold lacks either the capability or legal pathway to pursue a licence in Greenland independently of 80M. In fact, one could argue there’s a stronger case for KoBold to do just that — especially given its proven track record of advancing its global projects with technical rigour and financial backing."

If there's a strong case for KoBold to re-acquire the licences, this bodes well for 80M. Let's hope 80M finds a new partner soon who also feels there is a strong case for it to be involved with the licences.

"for the record, not all are Inuits"

Who said all are Inuits!? But by far, they are the majority. The Thule people – ancestors of modern Greenlandic Inuits - account for 88% of Greenland's population of circa 56,500.

CC - ​ ​You say, “​fanciful”​. I say, “balderdash”​, because of the absurdity. And here is why:

Option 3. KoBold holds onto 49% and spends no money---->80M does not own 100% and therefore fails to find a partner----> No exploration work---->MLSA cancels the licences, jointly owned by the two parties, for failing to meet regulatory requirements --->KoBold then applies to MLSA for the same licences where they had previously failed to meet regulatory requirements --->MLSA shows two fingers to KoBold and tells the company we may be Inuits but are not idiots!

An absurd but entertainingly amusing ​scenario!

After deliberating on the pros and cons of whatever options they considered, KoBold decided to go with Option 2, which they must have regarded as the one that best served their interest. End of story!

OPTION 1: KoBold holds onto 49% and spends no money---->80M does not own 100% and therefore fails to find a partner----> No exploration work---->MLSA cancels the licences

OPTION 2: KoBold gives up its 49% in return for 2% Royalty, but still spends no money---->80M owns 100% and therefore finds a partner----> Exploration work continues ---->Licences saved​----> KoBold keeps 2% Royalty

It's no brainer why KoBold chose OPTION 2​ for their own good.

CC - You ask about 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 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 new Thule copper tenement as per the RNS on 1 May ​2024 (see bullet point 1​). The RNS ​also said, "The Company is planning to conduct a 2024 field program consisting of helicopter-supported geological reconnaissance." As we know, no fieldwork was carried out in 2024​ - https://www.80mile.com/regulatory-news/63412

With this information in mind, I asked RM whether 80M planned to carry out any fieldwork this summer. He gave an affirmative response without going into details.

My comment: Let’s wait and see what the next update on Thule says.

IlDuce15 - Your observations were astute and sensible and mirrored what Rod McIllree conveyed to us at the AGM.

KoBold is NOT interested in spending any money on the Disko project and has accepted the reality that the only way 80M would potentially be able to attract a new partner is by owning 100% of Disko. They therefore decided, for their own good, to give up their 49% ownership in return for 2% royalty to strengthen 80M's efforts in finding a new partner.

As for a new partner, RM confirmed that the company was in talks with Anglo American and a couple of other parties, one of them being a Greenland-based company. What comes out of these talks remains to be seen. I asked whether Disko would be drilled this year. He replied that if the new partner were Anglo, there would be no drilling this year. If the partner were the Greenland-based company, there could be a chance of drilling because they already have the necessary drilling equipment on the island.

My comment: I will not assume anything about a new partner or drilling at Disko until we have confirmation from 80M. Best to wait for the next update on Disko.

Jimbolina - At the AGM, there was a good deal of discussion on Disko, Dundas, Jameson, Greenswitch and Thule, with Rod McIllree addressing all the questions.

As for your question on Dundas, at the current ilmenite price, the project would just about break even and is therefore not saleable. The ilmenite price has to improve by at least $50 per tonne before it becomes potentially saleable. It was not clear to me from the discussions whether - if the ilmenite price improved dramatically - 80M would then look for a partner to develop the asset for production. Sorry for being vague on the last point.

Https://tinyurl.com/32m9ufbh

The Resolutions presented at the AGM are easy to find on the company website​. I don't believe in spoon-feeding adults​ because if I can do it, you can too.

Click on "Investors"----> Click on "Circulars, Meetings & Voting"----> Click on "AGM Proxy Form" under "Annual General Meeting - 26 June 2025."

It's easy-peasy!

https://www.80mile.com/

CC - You say, "It's good news, imo, because it shows that perhaps Greenland is getting some traction."

True, but I found other things encouraging.

1. With NASDAQ-listed Pelican (PELI) coming on board, the ​proposed agreement reinforces confidence in the Jameson Land project.

2. We now know that Greenland Exploration, in partnership with GL March, will invest up to $70 million in Jameson Land. This is new information. According to Rod McIllree, the estimated ballpark figure for drilling two holes is $30 million. So, with $70 million at its disposal, the project is more than well-funded in the short term.

3. The GL March website publicises and promotes the Jameson Land project at no extra effort or cost to 80M - https://marchgl.com

4. GL March's presentation document demonstrates their keenness to progress the project promptly (unlike KoBold Metals) as they have provided a chart (on page 19) with timescales for different activities, which shows that the 1st hole will be drilled in Q4 2025 (a point that IvRoche has highlighted) - https://tinyurl.com/nwymr3pv

5. GL March is being supported by some well-established companies: IPT (engineering); Stampede Drilling (drilling operations); Halliburton (logistics and service provider) - https://stampededrilling.com/

RM must be particularly pleased since he regards Jameson Land as the most valuable commodity project in Greenland. He said so in this video - https://youtu.be/HGLMGm0zyEU?t=1

If there is one downside to the Pelican agreement, one will be able to invest in the Jameson Land project via PELI on NASDAQ. This was not the case with the Disko project when KoBold signed the JV, as the only route to investing in the project was via 80M.

NB: The Pelican Letter of Intent (LOI) will need to be confirmed via a definitive agreement. The announcement says: "The LOI provides for a 30-day exclusive negotiation period, during which the parties will work in good faith toward executing a definitive agreement."

Thanks, Grubber.

CC won't be attending this time. It will be CB, me and another shareholder who uses this chat board but does not post.

That's great, CB, see you at the pub on Thursday.

CB - On the day, I am meeting up with another shareholder for a chat just before the AGM. We are meeting at the Kings Arms pub, 2 Shepherd Market, W1J 7QA at 1:00 (AGM is at 2:00). The pub is just a minute walk from the AGM venue Washington Mayfair Hotel.

You are welcome to join us. Since we have not met before, you will find me wearing glasses with a notepad on the table and a pint of beer! If you are unable to meet at the pub, we can catch up at the AGM. Either way, please let me know.

Acquisition announcement (23 June 2025): Pelican Acquisition Corporation (NASDAQ: PELI) - Greenland Exploration - March GL - https://tinyurl.com/5a2p6w45

March GL website - https://marchgl.com

March GL Jameson Land presentation - https://marchgl.com/wp-content/uploads/2025/06/2025-06-22-MarchGL.pdf

ChirpyCheep to Ashton: "As you know, I would choose JL over Disko all day long."

CC - The news I am going to share is just hot off the press, and it should cheer you up no end! Please see my next post.

The article I shared previously referred to Anglo American’s four licences. So, I thought of sharing the following "factual" details about the Disko licences of both AA and 80M, especially for the benefit of newcomers to 80M as part of their research.

AA carried out fieldwork in 2022, 2023 and 2024 at Disko. Following the 2023 fieldwork, AA reduced its total Mineral Exploration Licence (MEL) area from 9,724km² to 7,379km² (a 24% reduction). The decrease in the area applied to just one licence, namely MEL 2019-80 (from 4,792 km² to 2,447 km²). The rest remained unchanged, and these are AA's current four MELs referred to in the article:

MEL 2019-115: 1,671km²

MEL 2019-79: 2,434km²

MEL 2019-80: 2,447km²

MEL 2019-59: 827km²

Total: 7,379km²

In comparison, 80M's six Disko licence areas amount to a total of 3,015 km² (roughly 40% of AA's).

MEL 2024-30: 112km²

MEL 2010-10: 288km²

MEL 2019-116: 695km²

MEL 2018-16: 1698km²

MEL 2017-01: 28km²

MEL 2012-29: 194km²

Total: 3,015km²

After three summer seasons of fieldwork (2022, 2023 and 2024), AA has yet to carry out drilling at Disko.

After one summer season of fieldwork (2022), 80M has yet to carry out drilling at Disko.

In 2020/2021, Bluejay Mining (80M’s previous name) was looking for a partner for the Disko project and had discussions with AA and KoBold Metals. In 2021, Bluejay announced a JV with KoBold Metals. The JV was terminated in 2025 after just one season of fieldwork in 2022, which resulted in the identification of 7 priority targets for drilling.

80M is now looking for a new partner for the Disko project and this is what Eric Sondergaard (80M’s MD) said in the RNS dated 19 May 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 advance (advancing?) the asset to drilling and hope to make (a?) further announcement on this in due course."

The company's AGM is on 26 June 2025.

Question from Professor Schwöbel-Patel, Professor of International Law at the University of Warwick and Bye-Fellow at Darwin College, Cambridge: "As I understand, Anglo American has four exploration licenses in Greenland. Is Anglo American planning on expanding its involvement in Greenland through additional applications? If so, will this include the minerals designated as so-called ‘critical’ in the green transition?"

Response: Duncan Wanblad, Chief Executive, stated that exploration licenses in Greenland are specifically focused on copper and nickel. While drilling for those it is ‘not impossible’ that they will find other minerals. Chair Stuart Chambers stated that Anglo ‘do not and would never’ conduct exploration activities without the expressed consent of Indigenous peoples. Stated they have a ‘very rigorous’ application of their Free, Prior and Informed Consent policy. Those policies ‘trump’ any Government. Has no idea if there is any advantage of Trump owning Greenland. The company has not met the Trump administration to discuss Greenland and have no plans to ‘at this stage’, although they did meet with the Biden administration on this topic. - End

The article is dated 19 June 20025 - https://londonminingnetwork.org/2025/06/anglo-americans-agm-2025-a-theatre-of-greenwashing-and-denial/

Jimbolina - Yes, I agree, instead of guessing, it's best to find out from the company what the plan is for Dundas. I will therefore raise the question at the AGM (26 June).

​The RNS on 12 June 2025 had this statement: "This transaction (the sale of Kangerluarsuk) reflects 80 Mile's ongoing strategy to monetise non-core assets and focus on its priority projects, particularly the Disko-Nuussuaq nickel-copper-cobalt project, Hydrogen Valley, and the Jameson Land Basin Project. The proceeds will be directed toward advancing these core assets and further strategic initiatives." - https://tinyurl.com/4bb9nyuu

The above statement did not give me confidence that 80M is seriously interested in developing Dundas through to production​ but best to check this at the AGM.