RE: Podcast - 3 May 20254 May 2025 13:13
CC - Going back to last year's Jameson RNS 19 November 2024, Eric Sondergaard made what appeared to be an inconsequential statement then: "The Company is also currently evaluating downstream opportunities in the sector and will advise as and if opportunities arise." Since no one discussed the statement here, you will recall I highlighted its significance on 15 December 2024, and on 19 December 2024, we had the RNS that 80M would be acquiring Greenswitch, a downstream opportunity.
I want to now highlight another, what might appear to be another inconsequential statement, again from ES, but this time in the latest Jameson drilling RNS 28 April 2025: "As part of a broader Arctic and North Atlantic energy corridor, Jameson has the potential to attract a broader range of funding sources and long-term investment into Greenland."
The message from ES was clear to me. In ES's opinion, Jameson has the potential to attract a broader range of funding and long-term investment, provided the scheduled drilling is successful. Interestingly, Rod McIllree, in his podcast yesterday, went one step further. He talked about "optionality" for funding Jameson, and referred to potential sovereign wealth funding and highlighted Norway's sovereign wealth fund as an example (Note: That was just an example). But then he went on to say, there are other similar sovereign funds. This raises the important question: Has the company been talking to third parties about the possibility of sovereign funding Jameson beyond Project 1 and Project 2 with March GL? Please go back and listen to the podcast again from 6:00 mins and pick up from the point where RM uses the word "optionality" - https://youtu.be/HGLMGm0zyEU?t=1
I would not underestimate the significance of the interrelated statements from ES and RM in this regard for long-term funding of the Jameson project beyond Project 1 and Project 2 with March GL.. For example, from a sovereign fund, provided the scheduled drilling is successful, and therein lies the challenge!