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

Thechuckster - As regards to Disko, 80M informed the market in April 2024 that the company intended to plan for 2025 field activities in late 2024. So, through this communication, the company has already informed the market of its intention to carry out fieldwork this year. It is therefore debatable whether the informal announcement of any of the activities to do with the intended fieldwork could be regarded as price-sensitive (e.g. soil sampling, electromagnetic survey, drilling, etc). What would of course be price-sensitive is assay results following drilling. In such a case, the market should be told first of the assay results before making any informal announcements. All that said, the best person who can answer your question authoritatively is 80M management, so best to contact them. I can't add more, sorry.

Congressman Andy Ogles (Republican, Tennessee) is leading a Bill to authorise Trump to enter negotiations with Denmark over purchasing Greenland, He is supported by 10 other Republican congressmen. Here is the "Make Greenland Great Again" Bill - https://tinyurl.com/34buv3m4

According to a recent poll, which surveyed 416 people in Greenland, 57.3% of respondents were in favour of joining the U.S. while 37.4% opposed the idea and 5.3% remained undecided. This was a small poll among a population of 57,000 (which includes children) - https://tinyurl.com/4tednxdd

Whether Trump succeeds in buying Greenland remains to be seen. One thing I would like Trump to do though is arrange a high-powered conference involving Chris Wright, the nominee to head the U.S. Department of Energy, Naaja Nathanielsen, minister for minerals, Government of Greenland, U.S. mining companies and investors with the objective of fast-tracking the exploitation of minerals in the island.

Greenland and the U.S. are already collaborating on minerals under an agreement signed in 2019 during Trump's first administration but that agreement is coming to an end. Naaja Nathanielsen said Greenland was hoping for a new agreement. She said the U.S. and Greenland’s collaboration on minerals has included mapping, analysis, fieldwork, and direct marketing so far but she now hopes it would lead to financing to help get projects underway.

Chris Wright believes fossil fuels are the key to ending world poverty, which is a greater problem than climate change's "distant" threat, according to a report he wrote as CEO of oilfield services company Liberty Energy (LBRT.N). He will surely know about the oil potential of on-shore Jameson Land and also the off-shore potential N-E of Greenland - https://libertyenergy.com/about/leadership/

PS: If you’re interested in what territories the U.S. has bought in the past take a look here - https://tinyurl.com/mr24z5ez

Https://www.youtube.com/watch?v=wz5bz12P84I

The video was published yesterday and has already had 6.5 million views. If you didn't know, Palki Sharma is a renowned and much-respected journalist from India and the presenter of India's highly popular YouTube news channel, which is watched worldwide, including, of course, the U.S.

The answer to the question in the title is an emphatic "Yes" because Trump has repeatedly stated that the US needs Greenland for economic and national security reasons.

That said, if I had to pick two high-profile politicians in the Greenland government that Trump will have to influence on this matter, I would go for Mute Egede, prime minister and Naaja Nathanielsen, minister for housing, infrastructure, MINERALS, justice and gender equality.

These two articles give you a flavour of where Mute Egede and Naaja Nathanielsen stand on the question of closer collaboration with the US in developing the island's mining sector.​ As you will see they are supportive.

https://tinyurl.com/t8bmte9z

https://tinyurl.com/ynp6kxy7

This third article was published a few days ago in a mining media outlet. Is this an example of things to come in the future for the mining companies in Greenland with the US bearing down on them with its powerful influence?

https://tinyurl.com/5ec9yt9k

Good questions Chirpy. As for your Disko question, Rod McIllree said 80M is considering a few interesting options on multiple fronts. He was unwilling to be drawn into the details. We have to be patient for the update but​, importantly, he confirmed drilling in 2025.

I attended the General Meeting yesterday and ​the subject of Trump/Greenland was a hot topic. Rod McIllree informed the meeting that, in addition to him conducting PR interviews with high-profile media outlets, the company was engaged in commercial initiatives to capitalise on the renewed spotlight on Greenland. He was unwilling to elaborate on the initiatives but I will not be surprised if Disko and Jameson Land featured in those initiatives; we have to wait and see. In terms of PR publicity, my thanks to ButonD for sharing the CNBC article. We were alerted to this at the meeting and ​were told there could be further such articles with other high-profile media outlets with input from 80 Mile.

RM expressed the opinion that the three most highly valuable mining assets in Greenland ​were Jameson Land, Disko and Kvanefjeld, and in that order, with 80M owning two of them. This could play out well in attracting American interest/investment in the company. We have to wait and see. Please note that 80 Mile is in a fortuitous position that its assets contain a number of the US-listed critical minerals - namely cobalt, copper, nickel, platinum, titanium and zinc. Click on the first link for the US Department of Energy 2023 Final Critical Materials List

https://www.energy.gov/cmm/what-are-critical-materials-and-critical-minerals

https://www.generalkinematics.com/blog/copper-critical-mineral

RM shared the positive news that Disko would be drilled this year (2025). Another positive news was that the company is optimistic about the approval of the green hydrogen government grant of up to €10 million for the Greenswitch plant mentioned in the RNS 19 December 2024. RM informed the meeting that as for the Greenswitch plant, the plan is to start production in Q1 2025 (as confirmed in the RNS), and then take it to FULL production by the end of the year, with the associated generation of revenue for the company. Not long to wait for confirmation from the company that production has started in Q1 2025.

Robert Price, the CEO of the newly formed industrial gas and petrochemical business unit associated with the Greenswitch plant was at the meeting. Interestingly, RM said RP had been previously involved with Jameson Land.

Back to Trump/Greenland, I found this video from the Wall Street Journal an interesting watch.

https://youtu.be/Lw-fXvv9-lA

Chirpy - Will 80M's failure to sell its assets turn out to be a blessing in disguise? I think 80M should review the decision about the sale of assets. I would prefer the sale of assets be put on hold for the time being. I will raise this issue as well. In a way your question on how the BOD intends to capitalise on all this spotlight on Greenland covers this issue as well.

Chirpy - Good question and I will bring it up at the meeting.

On a broader front, I have been asking myself this question.​ The NATO countries desperately want the US to be an active member of NATO in protecting Western Europe. What better way to achieve this than to have a part of the US located in the backyard of NATO and Western European countries in the form of Greenland as the 51st state of the US?

In my opinion, it would be unwise to rule anything in or out.

On 4 January 2025, and under this thread, I said the management would be undertaking a site visit to the Greenswitch plant in Italy. I am pleased to say this visit is being carried out as we speak, and what more they will have to get back for the General Meeting on Monday.

I will be attending the meeting.

Yes, Cheshirebull, it would be nice to meet up but I can understand why you can't make it due to the work on the farm. As it happens, I have arranged to meet up with another shareholder before the meeting for a coffee and chat and then for us to go from there for the meeting. This person reads our chat board but does not usually post. He will be coming from a town in Hampshire. I live in Hampton Court, Surrey, so the journey to the meeting for me is not too much trouble.

I started this thread on 3 November 2024 and posted Part I and Part II. If you are new to Jameson Land you may wish to take a look at the two posts about ARCO's historical work on JL. Also here is a research report on JL if you haven't seen it.

https://tinyurl.com/ykz8pt7k

Chirpy - You ask why they are looking towards the back end of the season to start drilling Disko, especially if the rigs are there already.

I can guess why but would not wish to speculate. Disko is also a topic on my list of questions for the General Meeting.​ Another topic on my list is of course Jameson land.

RobbG - Before I answer your question let me run through these points for the benefit of newcomers to 80 Miles:

 1. The original JORC-compliant 2019 Mineral Resource Estimate (MRE) for Dundas was 117 Mt at 6.1%.

2.  After the 2022 drilling campaign, Rob Edwards (former Chairman) replaced the 2019 MRE with the 2023 MRE. The new MRE downgraded the resource in tonnage and grade and concluded that Dundas did not present a viable commercial development opportunity

3. In 2024, following an in-depth assessment of deficiencies in the 2022 work programs and after consulting various independent consultants, the new management reinstated the 2019 MRE.

4. The drilling efforts in 2022 recovered bedrock samples from 74 locations. As part of the ongoing re-evaluation of the MRE, the new management had these samples analysed in Q2 of 2024 which revealed an average TiO2 concentration of 5.2% and a corresponding ilmenite content of 11.12%, significantly surpassing previous resource estimates for the raised and active beach sand deposits.

5. By nearly doubling the grade (from 6.1% to 11.12%) this improved the project economics considerably which was not the case previously under difficult prices for ilmenite.

6. In July 2024, the new management informed the market that it would aim to undertake a low-cost JORC-compliant exploration target to further advance the concept. I take it from this that a new MRE would replace the reinstated 2019 MRE. And that's where we were according to the last update to the market from the company on this subject.

Let me now address your question. You ask whether I have had any contacts with management on Dundas. Yes, I have, and my understanding is Dundas will need a revised JORC-compliant MRE at a higher grade to make the project commercially viable under current difficult ilmenite prices. So the focus is to first come up with a new MRE. I do not know what the timescale is for achieving this and what the company's plans are for Dundas beyond a revised MRE. That said, this is one of the topics on my list of questions for the General Meeting on Monday which I intend to attend.

In the meantime, if you haven't already, you might wish to watch this video interview with Eric Sondergaard which was published in May 2024. Forward wind the video to 6:00 mins where ES talks about Dundas and the need for a revised MRE.

https://youtu.be/5G5jwsxhC8E?t=5

Part I

1. On 22 June 2022, Rod McIllree resigned from the Board and left the company - Share price 5.8p

2. On 25 October 2022, Rob Edwards was appointed as Executive Chairman of the Board - Share price 5.5p

3. On 20 December 2023, Rob Edwards and Bo Stensgaard were replaced by the current management - Share price 0.5p

So, during the 12 months or so of Rob Edwards' stewardship at the helm the share price tanked from 5.5p to 0.5p. Ouch!

The new management spent a good part of its first 12 months in 2024 on saving the 80M ship from sinking by putting into action drastic cost cutting exercises and getting rid of unsavoury characters who engaged in practices that damaged the interests of the company (e.g. Joshua Hughes). The new management also achieved two highly significant acquisitions (Jameson Land and Greenswitch) in 2024 by raising funds through equity dilution.

Now that the all-important rescue efforts had been achieved to save the company from collapsing in 2024, shareholders are looking forward to see how well the new management perform in improving the share price performance going forward.

I thought it would make sense to use the price point of 0.5p for measuring the share price performance under the new management since it took charge of the company on 20 December 2023.

So, the big question is how might the share price perform in 2025 and beyond. There are two important milestones to be achieved this year and if the new management were to successfully deliver them then that it would almost certainly provide a significant boost to the share price:

1. Maiden cashflow when production starts at the Greenswitch plant from Q1 2025 and then to be ramped up in Q2 2025.

2. Successful maiden drilling at Disko in Q2/Q3 2025, followed by excellent assay results.

As for Disko, my understanding is that management is planning to drill at the back end of the field season this year (2025). Drill rigs are already in place in Greenland and can be deployed at short notice. It's best to wait for RNS confirmation and I have no idea when that might be. As always, do your own research.

There are also other potential newsflow items to look forward to in 2025:

1. Approval of a green hydrogen government grant of up to €10 million for the Greenswitch plant. I presume the grant will be from the Italian government (Greenswitch RNS 19 December 2024).

2. Partner engagement at the Outokumpu industrial gas asset in Finland (RNS 22 August 2024).

Part II

In his video interview in June 2024, Rod McIllree ranked James Land first and Disko second as potentially the two most valuable assets in 80M's portfolio. I would like to know where he would place the Greenswitch plant in the pecking order, although I acknowledge it is not a mining asset. I understand management plans to use the revenues from the Greenswitch plant to fund exploration activities at Disko and Jameson land. So, the Greenswitch plant could turn out to be priceless, assuming of course all goes well with production and revenue generation in 2025.

All this talk is well and good, but in the final analysis, what really matters is that management delivers significant value for shareholders. So, let’s see to what level the new management raises the share price in 2025!

Wishing you all long-term shareholders good fortune!

When I brought to the attention of readers here the statement in the RNS dated 19 November 2024: "The Company is also currently evaluating downstream opportunities in the sector and will advise as and if opportunities arise", it was shot down as rubbish. It was not rubbish after all, now that we have learnt of the acquisition of the Greenswitch plant!

Let me now bring to your attention two further but fresh statements, but this time in the RNS dated 19 December 2024:

"This transformative acquisition (of the Greenswitch plant) marks a significant step in 80 Mile's strategy to become a vertically integrated exploration & production company for petrochemicals as well as industrial and natural gases. The intention is that 80 Mile WILL ESTABLISH A NEW INDUSTRIAL GAS AND PETROCHEMICAL BUSINESS UNIT, which will work to diversify the Company's portfolio to include biofuels, sustainable aviation fuels ('SAF'), glycerine and green hydrogen."

"The acquisition has the potential to create a vertically integrated petrochemical division through large-scale production of biofuels and the expected introduction of SAF and hydrogen, with CASH FLOW THEN AVAILABLE TO DEVELOP THE COMPANY'S OTHER ADVANCED PETROLEUM EXPLORATION ASSETS." - Unquote

Please note, 80M's only other petroleum asset is Jameson Land.

I am sure eagle-eyed readers would have noted in the RNS dated 19 December 2024, and I quote: "Robert Price is to join the Group as CEO of the newly formed industrial gas and petrochemical business unit with Eric Sondergaard remaining 80 Mile group CEO and MD."

So, the company is going to have a new industrial gas and petrochemical business unit (IGPBU). Being a potentially highly valuable industrial gas and petroleum (oil) asset, I am expecting the Jameson Land asset to have a close association with this newly formed IGPBU in the future. Digressing slightly for the moment, a current Italian owner/investor of the Greenswitch plant did have a connection to Jameson Land in the past and this may have assisted the acquisition of the Greenwich plant in some way. ​And will this same person play a part in progressing the potentially oil-rich Jameson Land asset? I don't know, and in any case won't go into the details.

I would urge long-term shareholders to take ​another look at the RNS​, and in particular, the CV profiles of the team at Hydrogen Valley including Robert Price. Hydrogen Valley is the owner of the Greenswitch plant - https://www.80mile.com/regulatory-news/75603

Wishing you good fortune long-term shareholders!

Thanks, David Burton, for those interesting snippets!

For anyone not aware of who David Burton is: https://total-market-solutions.com/about/

Chirpy, You have raised so many questions and I wish I could answer them all but I can't. In any event, I have decided to focus on questions about the future. So let me take your question: "In terms of strategy, what is the horse and what is the cart? Is this (Greenswitch plant) to pay for Disko, or does ES/RM think Disko will come good?"

Before I answer your question, let me refer you to this statement in the RNS dated 19 December 2024: "The acquisition (of the Greenswitch plant) has the potential to create a vertically integrated petrochemical division through large-scale production of biofuels and the expected introduction of SAF (Sustainable Aviation Fuel) and hydrogen, with cash flow THEN AVAILABLE TO DEVELOP THE COMPANY'S OTHER ADVANCED PETROLEUM EXPLORATION ASSETS."

According to the above statement, the cashflow would be used for progressing 80M's other petroleum assets (e.g. Jameson Land). I wanted clarification on this statement so I contacted 80M management and asked whether the cashflow would not be available for developing 80M's other non-petroleum assets. The answer I got back was that cashflow from the Greenswitch facility would be used to service the broader 80M portfolio of exploration assets, including Disko. Hope this answers your question.

After more careful study, I am chuffed over the proposed acquisition of the Greenswitch plant for three main reasons:

1. The most valuable feature of the Greenswitch asset is that it is "production-ready" with production to commence in Q1 2025 and then to be ramped up in Q2 2025. None of 80M's other assets offer this unique feature at the moment.

2. The revenue from the asset can support the progress of 80M's other assets, in particular the two potentially highly valuable assets Jameson Land and Disko.

3. The timing of the acquisition could not have been more perfect with the expected expansion to include SAF and Hydrogen. You only have to study this report entitled "Sustainable Aviation Fuel Ready for Lift Off?" by KPMG to understand what I mean by perfect timing. Click on the link below and then download the full report. I would urge long-term shareholders to take the trouble to read the whole report.

The last para on Page 3 in the report says- "...there remains a significant risk that SAF production levels are unable to meet current expectations. This risk does OFFER CONSIDERABLE UPSIDE FOR INVESTORS, who can benefit from inflated prices as long as demand outstrips supply (which is likely to last for 20+ years)."

Good fortunate long-term shareholders!

https://tinyurl.com/3bpdvwk7

Correction: ..subject to shareholders approving the acquisition at the General Meeting on 13 January 2025.

Yes, Jimbolina, I intend to attend the General Meeting on 13 January.

You say the Greenswitch plant acquisition could be "potentially transformational" for 80M. Yes, it would be truly transformational when the company successfully delivers the production targets in Q1 and Q2 2025 as stated in the RNS dated 19 December 2024. I am pleased that the company has set a near-term timeline for production. The jury is now out on this matter (subject to shareholders approving the acquisition at the General Meeting on 13 January 2024).

When I brought to the attention of readers here the recondite statement "The Company is also currently evaluating downstream opportunities in the sector and will advise as and if opportunities arise (RNS 19 November 2024)", how many of us thought 80M was actually referring to acquiring a production plant?