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

Okay, any other takers?

LWHL - Thank you for your best wishes which I genuinely appreciate. You say you are still casting a casual eye on 80M now and again and that Rod McIllree's recent purchases are literally the only positive takeaway that you can understand.

Do you mind if I ask you this question? What is UNIQUELY positive now about 80M that no other miner in Greenland can claim?

“I cannot understand your continued optimism.”

LWHL - I can understand why you cannot understand my continued optimism. You will understand when my optimism is vindicated. Let’s have a chat then - hopefully not in the too distant future!

[Disko has 18 high-quality targets but KoBold has prioritised 8 of them]

Correction: [Disko has 18 high-quality targets but KoBold has identified 7 "initial" priority targets]

What is likely to be the share price if 80M delivers one or more of the following items? I have not listed them in any particular ranking order.

1. Disko is drilled in 2025 and the follow-up assay results confirm that the stuff under the ground is comparable to Voisey Bay, Canada or Norilsk, Russia [Disko has 18 high-quality targets but KoBold has prioritised 8 of them]

2. A heavy-weight company becomes the partner for Jameson Land.

3. A significant asset sale.

4. External funding of projects without dilution (e.g. funds from European groups).

Stockopedia has provided a succinct company profile of 80M which is quite up-to-date but the same cannot be said for the management team information. However, the FAQ section is quite interesting. For 80 Mile, Stockopedia says the analyst consensus target price for shares is 21.80p. That is 6932.26% above yesterday's closing price of 0.31p. How did they come up with such a price? For Amaroq Minerals (LON: AMRQ) - a Greenland-based junior miner - Stockopedia says the analyst consensus target price is CA$1.84 (circa £1.04). That is 30.78% above yesterday's closing price of CA$1.41 (circa 80p). AMRQ released an RNS today and the share price is currently at 84p. The company is preparing for its first gold pour in Q4 2024. I am NOT a shareholder of AMRQ.

https://www.stockopedia.com/share-prices/80-mile-LON:80M/

Share price chart for 80M - https://tinyurl.com/378r7p5s

Share price chart for AMRQ - https://tinyurl.com/yu7pec5w

Health Warning: 80M is a high-risk/high-reward play. Please do your own research.

TonyAngelino, you are absolutely right. I have NEVER EVER advised others to buy. In the note I posted recently on 18 November 2024, I even included a wealth warning that "80M is a high-risk/high-reward play!" Oh well, what can I say?

…and what’s more, who said I wouldn’t be buying more of the stock if the price stayed low? So, you should really start thinking outside the box!

" Let's take an exaggerated example of your recent purchases bringing your average purchase price down to half of what you told us it was previously - so 4.5p."

Rach - Please don't even go there, trying to second guess my new share price average. In any case, you are well and way off the mark even with your exaggerated price of 4.5p. I really can't blame you because you have no clue whatsoever about three things to do with me:

1. Amount of finances at my disposal.

2. Strength of my conviction about 80M's prospects.

3. Thoroughness of my research of the company.

Rach: "I wonder what multibag level you (Ashton) now need to achieve merely to break even."

Good question Rach, keep wondering! Here is another question for you to ponder and wonder: Who is going to have the last laugh, Rach or Ashton? By the way, there is a clue in the question if you are capable of reading between the lines, so to speak!

For me, the lyrics of this ​inspirational song sum up ​​somewhat what I think of 80M as it stands - https://youtu.be/7a2yCVpU_Vw

Talking about opportunities, I have taken the opportunity of the current low share price to increase my shareholding recently by a substantial amount. As a consequence, I have reduced the average price of my holding quite significantly. Time will tell before long whether my steadfast belief in 80M is vindicated.

I wish you good fortune if you are a shareholder.

ChirpyCheep - It was noteworthy on two counts:

a) The company is currently evaluating certain opportunities concerning Jameson Land.

b) The company has given an undertaking it would advise the market, as and if such opportunities arise.

Here is the statement from the RNS: "The Company is also currently evaluating downstream opportunities in the sector and will advise as and if opportunities arise."

"Why would 80M be evaluating DOWNSTREAM opportunities when there isn't yet the merest hint of ANY upstream opportunities? ...am I missing something here and downstream for 80M means something different from this sector's usual understanding of the terminology used?"

Rach - They are good questions, but I am not the best person to answer them; only the authors of the RNS can give you authoritative answers. I would therefore suggest you contact 80M management. You have previously stated here that you believe in doing thorough research into the company, so I would suggest the best source for answering your enquiry is the management.​ Sorry, I can't add more.

Ashton (18 Nov 2024 at 08:59): "On 24 June 2021, the Government of Greenland put out a press statement saying it has decided to cease issuing NEW licences for oil and gas exploration in Greenland. So, if all goes well with Jameson Land, 80M will be in a UNIQUE position to exploit Greenland's vast amount of oil with its EXISTING licences. The company will of course need a partner to achieve this goal. Will an international oil giant join forces with 80M to exploit this UNIQUE opportunity? I hope so."

~~~

RNS (19 Nov 2024): "On 24 June 2021 the Greenland Government announced it would cease issuing additional hydrocarbon exploration licences. White Flame was informed the same time that because its licences were valid and in full effect at the time of this policy change, that this would not affect White Flame, its activities or its licence terms and that White Flame was free to continue to develop the Jameson Land Project peninsular as per the conditions in their existing exploration & exploitation licences."

"...WFE has been granted a four-year extension to the first licensing sub-period."

"The Company is also CURRENTLY EVALUATING DOWNSTREAM OPPORTUNITIES IN THE SECTOR and will advise as and if opportunities arise."

~~~

My comments and questions:

1. You cannot progress BIG projects like Disko or Jameson Land without a partner. So, it stands to reason that Jameson Land will need a partner.

2. Potential partners prefer exploration projects with longer rather than shorter licences. In June 2024, the first sub-period of the licence was 3 years. Why did 80M get the sub-period extended from 3 to 4 years? What was the reason behind the urgency? In the video (forward wind to 2:00 mins), RM explains the three sub-periods ​of the licences as they stood then (June 2024).

3. In the same interview (forward wind to 7:30 mins), Rod McIllree said "Our objective is to try and find a partner (for Jameson Land) who can assist us with the costs over the next 3-year period". When he said that the 1st sub-period was 3 years, now it has been extended to 4 years.

4. For me, the most noteworthy statement in the RNS was: "CURRENTLY EVALUATING DOWNSTREAM OPPORTUNITIES IN THE SECTOR". In the note I posted on 15 Aug 2024 at 13:43, I said "The first sub-period for the licences is three years. However, I am hopeful that JAY will find a high-profile partner within the first 12 months." If 80M can bring a heavyweight partner on board that would almost certainly ensure long-term growth and value creation for shareholders.

If you haven't already, I would strongly suggest you watch the video interview - https://youtu.be/PidhWEVzGP0?t=3

As a result of thorough research, I have recently increased my shareholding quite substantially and this has brought the average price down significantly. Please do your own research

"We are open for business, but we're not for sale," Greenland's foreign minister Ane Lone Bagger (2019).

It's all too clear that Greenland is not for sale even if President Trump makes a second attempt to bid for it. So, I look​ed at his so-called ramblings from a different angle. Trump has helped put Greenland in the spotlight as a strategically important country (both militarily and for the Arctic sea route) and also ​for its vast source​s of metals​, black gold (oil)​ and gas.

On 24 June 2021, the Government of Greenland put out a press statement saying it has decided to cease issuing NEW licences for oil and gas exploration in Greenland. So, if all goes well with Jameson Land, 80M will be in a UNIQUE position to exploit the vast amount of oil in Greenland with its EXISTING licences. The company will of course need a partner to achieve this goal. Will an international oil giant join forces with 80M to exploit this UNIQUE opportunity? I hope so. This is an old video but still worth a watch as it talks about Greenland's oil potential and also includes the views of the former prime minister of Greenland on his country's aim to become economically and politically independent (from Denmark) by exploiting more of its minerals sector - https://youtu.be/FrSCreZ1cTE?t=1

80M is a high-risk/high-reward play!

Shortly after Donald Trump's re-election as the 47th President, one of his allies, Representative Mike Collins (Georgia District 10), posted a picture of Greenland on an electoral college map as voting Republican in "Project 2029," suggesting Trump would make another bid to purchase Greenland during his second term - https://x.com/RepMikeCollins/status/1854564733266936059

This video "What If America Actually Buys Greenland?" is an interesting watch. It says Greenland could become a highly strategic country to the West in the future for a few important reasons (Arctic sea route, defence and resources). The video also refers to Greenland's oil, gas and Rare earths (RE) resources (from 6:00 mins) - https://youtu.be/tBd-1PnqagE?t=3

So, you want me to state my source, ChirpyCheep. What a question! Maybe it’s best if you wait for the update. However, if you still insist on your question, I would ask you to take another look at the RNS on 29 April 2024. The RNS made it clear that if 80M wants to drill Disko, the drilling equipment has to be secured by no later than December preceding the drilling season. The RNS also made it clear that the new management - which replaced Rob Edwards and Co in December 2023 - arrived too late to organise drilling in 2024 due to this very logistical reason. It is all too clear that this issue of timing does not impede undertaking drilling in 2025. It therefore stands to reason that the new management would lose all credibility if there is no drilling at Disko in 2025. I have done my research and I am satisfied that Disko WILL be drilled next year. That’s the best answer I can give you, short of not posting at all such information in the future. When faced with the type of question you have asked, it makes me wonder what am I doing here!

"Ditto", I don't plan to wait for production either. My investment horizon is Disko drilling/assay results and a partner for Jameson Land. You will be pleased to know that, according to my research, 80M are currently busy getting ready for drilling Disko in 2025!

"Jimbolina needs a new pair of everything"

How about Disko and Jameson Land?

Good question, Jimbolina, you ask whether I have given up on asset sales. I will answer your question anon. The reason I listed Disko, Dundas, Hammaslahti, Outokumpu and Jameson Land under this thread for pending news was simply because 80M have referred to them in recent RNS releases but no mention of asset sales. Now I will answer your question.

I understand from 80M the subjects of asset sales and the dialogue with European groups for funding (please see RNS on 13 August 2024) are "PROGRESSING ALMOST EVERY DAY" but I have no idea when we can expect updates on the two issues. I hope this answers your question. This next comment is not directed at you but anyone with a nervous disposition would be well advised to wait for official confirmation.

PS: As for Disko, it WILL be drilled in 2025. The unknown factors for me are how many holes (KoBold has identified seven priority targets) and also the terms for the revised agreement with them. As for whether we will have the Disko update in 2024, your guess is as good as mine.

This article published by the BBC yesterday identified seven things Trump said he would do as president (link below). Take a look at item No.3 which says:

"He has pledged to increase production of US fossil fuels - vowing to "drill, drill, drill" on day one in favour of renewable energy sources such as wind power. He wants to open areas such as the Arctic wilderness to oil drilling, which he argues would lower energy costs - though analysts are sceptical. He has constantly attacked electric vehicles, promising to overturn Biden's targets encouraging the switch to cleaner cars."

I ask myself whether he would go on an all-out attack on electric vehicles given the fact that Elon Musk was a big Trump donor as well as being a fully-fledged cheerleader for him ​at election rallies. Moreover, it is speculated that Elon Musk may well be offered an important role in Trump's administration.

​It appears the second Trump administration bodes well for US oil companies. Will this play in favour of 80M finding a partner for Jameson Land? After all, ARCO, which explored Jameson Land for oil and spent $100 million, was a US oil company.

https://www.bbc.co.uk/news/articles/cev90d7wkk0o