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

During the election campaign, Trump said that he wanted to cut federal regulations on drilling for oil and natural gas, a move that he says would lower energy costs and inflation. In multiple instances, Trump said he would reauthorize drilling in the Arctic National Wildlife Refuge in Alaska (1st link below), which was suspended under the Biden administration. Meanwhile, he would pull the United States out of the Paris Climate Accords, a worldwide plan that claims to reduce carbon emissions. Trump also said he would roll back some federal policies around electric vehicles. In his campaign, Trump has often said that gas prices were much lower under his administration than they have been under the Biden administration. He has suggested that prices would again fall when he takes office. “When I left office ... gasoline had reached $1.87 a gallon. We actually had many months where it was lower than that,” Trump told reporters over the summer. “But we hit $1.87, which was a perfect place, an absolutely beautiful number.” According to AAA (2nd link below), the average price for a gallon of regular gasoline stands at around $3.10. The highest recorded average price for a gallon was on June 14, 2022, when it reached $5.01, AAA figures show. The federal Energy Information Administration’s data show that the average annual price for a gallon of gasoline did not exceed $3 under the first Trump administration (3rd link below).

Biden-Harris administration steps in to protect Arctic Lands and Wildlife in Alaska - https://tinyurl.com/4xuknz3f

​Gasoline prices hit over $5.00 in 2022 - https://gasprices.aaa.com/

Gasoline prices took off from 2020 after Trump left office and Biden took over - https://tinyurl.com/bdetr5fn

Https://tinyurl.com/y49cx3zt

Another transaction for 10,000,000 @ 0.312p went through at 13:05 today (5 Nov). My broker Charles Stanley is showing this as a buy.

1. Disko: Update on the 2025 field program and the terms for the revised agreement with KoBold Metals.

2. Dundas: Update on the potential resource development and feasibility assessment of incorporating hard rock mining into existing operational plans.

3. Hammaslahti: Update on the gas sampling program to further evaluate the industrial gas potential (helium and hydrogen).

4. Outokumpu: Update on the talks with European groups for funding future work programs.

5. Jameson Land (JL): Update on the options study for the best and most appropriate path forward for drilling and development.

Notes:

a) The acquisition of Jameson Land came with three Exploration Licences and EXPLOITATION Licences (subject to completion of an EIA and SIA as well as a discovery being made). Moreover, no other mining company in Greenland has such licences for EXPLOITING liquid hydrocarbons (oil) and will never be able to obtain such licences in the future [see (b) below]. I am sure 80M management is hard at work in securing a partner for JL and the uniqueness of the licences is likely to play well as a factor in the negotiations.

b) In this video dated two years ago Naaja H. Nathanielsen (Minister of Business, Trade, Mineral Resources, Justice and Gender Equality, Government of Greenland) announced that there will ​​NOT be approval of any NEW licences for gas and oil exploration. Forward wind video to 1;00 min - https://www.youtube.com/watch?v=j1LqJ3Ivk28

c) If you ​experienced a problem using the links I gave in my last post for JL, please try these:

https://www.keyfactsenergy.com/news/9191/view/

https://www.britannica.com/money/Atlantic-Richfield-Company

Now turning to the question in the title of this thread, it has bothered me as to why ARCO relinquished the Jameson land asset in 1990 after almost 20 years of considerable interest and spending. The answer to the question is in this article (dated 2020 - first link below) as it explains the reasons why ARCO gave up. It had nothing to do with Jameson Land's prospectivity but was due to factors unconnected to the asset as stated in the section “Overview of Greenland operations ". Also, I found these excerpts from the article particularly interesting:

"As demonstrated by these studies, including more recent work published by GEUS and several academic institutions, the basin appears to contain all the key essential play elements – source, reservoir, seal, and trap – for the SIGNIFICANT GENERATION AND ACCUMULATION OF COMMERCIALLY VIABLE HYDROCARBONS. In 1972, based on detailed field mapping, Atlantic Richfield Company ("ARCO") ranked the Upper Palaeozoic-Mesozoic JAMESON LAND BASIN AS HAVING THE HIGHEST POTENTIAL FOR HYDROCARBONS IN EAST GREENLAND." - Unquote

I wonder whether the wider markets and, 80M shareholders in particular, know the real reasons why ARCO withdrew from Greenland. In his video interview in June 2024, Rod McIllree identified Jameson Land as the most valuable asset in 80M's portfolio, even more so than Disko. I understand why. If we go with 80M's lowest estimate of 2.4 billion barrels, at the current Brent oil price of circa US$ 70.00 per barrel Jameson Land must be worth a bob or two for an oil & gas company to get involved - Bob's your uncle! In the interview, RM said the immediate objective was to find a partner for Jameson Land. I expect 80M management is hard at work trying to secure a suitable partner as a matter of priority.

If Disko and Jameson Land come good, 80M would transform into a juggernaut. First thing first though: For Disko, we need drilling; for Jameson Land, we need a partner. Will 80M deliver both? That's the 64,000-dollar question!

www.keyfactsenergy.com/news/9191/view/

www.britannica.com/money/Atlantic-Richfield-Company

I was encouraged by these statements in the RNS dated 20 June 2024.

[The Jameson Land Basin is one of, if not the last, highly prospective, yet completely undrilled basins globally, but with a clear genetic link to the North Sea as well as a scale similar to many of the world's major producing regions. This claim is not without foundation. Between 1970 and 1990 US Atlantic Richfield Company (ARCO) invested more than US$100m (1989 US dollars) in detailed exploration and evaluation activities. ARCO's work identified multiple, very large gas and liquid

hydrocarbon (oil) targets. Upon the US major's withdrawal from Greenland, ARCO's data reverted to the Geological Survey of Denmark and Greenland (GEUS), with the Danish Government continuing work on the project area until 2014 when White Flame was awarded the licences. ARCO and GEUS concluded that the Jameson Land Basin contains all the essential source, reservoir, seal and trap elements to host multiple very-large-scale natural and industrial gas reservoirs in addition to liquid-rich hydrocarbons.

ARCO estimated that the Upper Permian source rocks in the Jameson Land Basin generated over 40 billion barrels of liquid hydrocarbons and the Upper Jurassic source rocks generated a further 46 billion barrels. Assuming a conservative range of 10%-25% for entrapment efficiency, ARCO calculated that there could be potentially 4.0 - 10 billion barrels of liquid hydrocarbons in place within the Permian aged reservoir rocks and 4.6 - 11.5 billion accumulated within the Jurassic along with associated industrial and natural gases. White Flame Energy management estimated the potential resources of oil to be 2.4 to 8.1 billion barrels. Moreover, the total investment to date in the Jameson Land project by White Flame Energy stands at £3,795,187.] - End

That's some shareholding, Redknight, 10 million @ 0.38p. I wish you good fortune. You will be pleased to know that the Disco mood music (or should I say Disko) I am hearing from 6 Heddon St, London W1B 4BT gives me encouragement that 80M is in good shape with KoBold Metals in progressing the project. The stuff is there; it's a case of finding it!

As for Dundas, I must point out Eric Sondergaard's comment in his video interview in May 2024. He said: "It (Dundas) does still represent our near-term pathway to cashflow."  - Forward the video to 8:00 mins - https://youtu.be/5G5jwsxhC8E?t=3

Thank you, TonyAngelino, for sharing the information. Anyone who has no access to the article because of the paywall can, however, read a summary of it in this free-to-access article - https://tinyurl.com/mry2kxmd

Anyone who has been following the progress of KoBold's flagship copper project in Zambia will know that in addition to the project being a massive mineral exploration, geopolitical factors are also at play, with the U.S. government wanting to increase its influence in Africa (in part to counter China's influence). For a start, the project was announced at the U.S.- Africa Leaders’ Summit in December 2022 in the presence of President Joe Biden and Zambian President Hakainde Hichilema. Within six months of the announcement, the US ambassador in Zambia visited the project. Here is the press release from the U.S. embassy in Zambia. - https://tinyurl.com/4v7drkpz

And here is Kurt House, CEO of KoBold Metals in conversation with the Under Secretary Jose W. Fernandez from the U.S. State Department. - https://tinyurl.com/47ft8u5a

Turning to Greenland, the island is hoping to forge closer links with North America through trade in critical minerals, and by having a bigger say in key defence relationships that have historically been governed by Denmark. Greenland's global profile has been rising amid heightened concerns about Arctic security. President Trump even tried to buy Greenland! With Sweden joining NATO in 2024, Russia is now isolated as the only Arctic nation outside the alliance. Polar marine traffic is rising as climate change creates longer shipping seasons, and Greenland’s vast natural resources, including rare earth minerals, have attracted global interest from major powers including China and Russia. - https://tinyurl.com/4m6sh4zf

If KoBold (a U.S. company) makes a HUGE success of the Disko project (on a similar scale to Norilsk), would that help the U.S. geopolitics in Greenland? One thing we can be sure of, Uncle Sam will not hesitate to mix business with geopolitics, like what is happening in Zambia!

Here is an interesting peripheral detail regarding the name Blue Jay. The U.S. military Thule Air Base in Greenland was constructed in total secrecy by the U.S. military under the code name 'Blue Jay' in 1951. An armada of 120 shipments, 12,000 men, and 300,000 tons of cargo arrived in North Star Bay in July 1951, and construction immediately began. Living on board the ships and working around the clock, most of the airfield and base were built in only 60 days. Buildings were constructed with refrigerator-like Clements panels, and propped on pilings to prevent melting into the permafrost. During its peak, it housed approximately 10,000 personnel. Now, less than 1,000 men and women are stationed there. - https://tinyurl.com/hmbxjbne

"After the discovery of the VOISEY'S BAY WORLD-CLASS deposit of Ni-Co sulphides in Canadian northern Labrador in 1994 much effort has been performed in order to look for similar deposits in Greenland. A correlation across the Davis Strait with specific emphasis on settings resembling the Palaeoproterozoic VOISEY'S BAY deposit is considered. Although the correlation is generally accepted, there has been SO FAR NO BREAK in locating similar sulphide bodies on the Greenland side. However, the exploration carried out by several companies since the mid-1990s is NOT YET COMPLETED AND A NUMBER OF PROSPECTS HAVE TURNED UP. Previous knowledge about Nisulphides on the Greenland side has also been reconsidered in light of this correlation view. Palaeogene Ni-sulphide accumulations are confined to the West Greenland Basalt Province, where exploration has been carried out for MANY YEARS. Known occurrences are mainly hosted in presumably sediment-contaminated lava and dykes at the base of the basalt sequence in the DISKO region. Moreover, the basalt region is generally looked upon as having a LARGE POTENTIAL FOR Ni OCCURRENCES." - Source:  Geological Survey of Denmark and Greenland (GEUS) Fact Sheet 9

"Following an intensive period of analysis and interpretation, KoBold's technical teams completed the integration of the extensive geochemical, geophysical, and geological data collected during the 2022 exploration campaign. Leveraging KoBold's proprietary artificial intelligence (AI) and machine learning (ML) platforms, this comprehensive analysis has resulted in the identification of SEVEN INITIAL PRIORITY TARGETS within the project area. These SEVEN INITIAL PRIORITY TARGETS exhibit spatial characteristics indicative of potential deposits on a scale comparable to renowned mining operations such as Norilsk, VOISEY'S BAY, or Jinchuan. - Source: RNS 29 April 2024

We now have seven initial priority holes to drill as identified by KoBold. How many holes will be drilled and will we get a hole-in-one, so to speak? In this video (dated September 2020), Eric Sondergaard (now Managing Director of 80M) asks the question "Why are we looking for nickel and copper on the West coast of Greenland?" He also says: "Drilling conditions can be challenging but we have the opportunity to learn from the successes and failures of previous operators."

https://youtu.be/NNQJTh57xGE

Wealth Warning: 80M is a high-risk/high-reward play, please do your own research.

"Patience is a virtue". Just to clarify, my patience is not infinite. I am waiting for certain important events to play out: (a) Disko drilling and (b) Disko assay results. If (a) and (b) go "extremely well", I expect the share price to rocket and that is when I intend to exit. I am not here for Disko to go into production as that event is likely to be circa 7 years away.

"No drilling, No Disko" - that's not a "grand prediction"; it's a fact of life. You know it and I know it. KoBold and 80M know it. More importantly, the market knows it.

How will Disko drilling be funded? That's a reasonable and pertinent question. Let's wait and see what the update has to say on this matter.

Your remark that I have failed to highlight what a mess this management has made with Dundas is unfounded. It seems you have not read my previous posts on this subject because I have - on more than one occasion - referred to the "DUNDAS FIASCO" and the fact that Rod McIllree has disappointed us "BIG TIME" with his failure to take Dundas to production. I referred to this even as recently as in my post on 5 Aug 2024 at 11:17. I must add here that in my previous posts I have also summarised two areas where management has failed shareholders and communicated my concerns directly to both the present and past management​ (Rod McIllree and Rob Edwards​):

1. Failure to fulfil expectations raised (e.g. Dundas production in 2021 and Disko drilling in 2022).

2. Poor communication.

I would politely suggest that you go back and take a look at my previous posts. I could be spending time harping on the past or spending time looking to the future. I prefer the latter.

"... we look forward to unlocking the full potential of our partnership. The foundational prospectivity of Disko remains COMPELLING.." - Kurt House, CEO of KoBold Metals - RNS 29 April 2024

You can’t unlock the full potential of Disko without drilling. I am looking forward to the Disko update.

No problems, enuffRMbs, when one has skin in the game as I do, that incentivises me to probe and search for information by tapping into various sources.

Have you bought back in?

"Bit harder to find since name change"

Not really, it is not harder to find since the name change. Click on this new website link and look up the item "Director Dealing" dated 04/01/2021 - https://www.80mile.com/regulatory-news?page=3

This is an interesting article dated October 2024.

In March 2024, Josh Goldman, Co-founder and President of KoBold Metals ​told CNBC that the company plans to list its shares publicly in the next three to four years and that becoming a public company is likely to be the best way to finance the business. In the article and under the heading "KoBold Metals News Archive", there are references to Greenland.

https://accessipos.com/kobold-metals-stock-ipo/

Https://www.londonstockexchange.com/news-article/80M/director-dealing/16735340

When I recently started ​the thread “KoBold Metals Raises US$491 Million”, I had more than one reason for sharing the information about the company's latest funding round. I therefore feel I owe an explanation and here it is.

Discussions between 80M and KoBold regarding the Disko project have been ongoing for some months. As part of the process, an important meeting between the 80M management and a "12-person-strong team" from KoBold was arranged to take place (yes, a “12-person-strong team” from KoBold). However, at the request of KoBold, the meeting was deferred until the company had completed the funding round. During the funding round, KoBold management was busy canvassing the support of potential investors. At the final count, 38 investors decided to come on board resulting in a capital raise of US$491 million. I can well understand why KoBold decided to postpone the meeting with 80M.

The good news is that no sooner than the funding round closed this month (October), the deferred meeting between 80M and KoBold went ahead swiftly. Will we get the Disko update soon? I hope so but I have no idea when that might be or what it might say. We will have to wait for the details. Patience is a virtue!

Jimbolina: "... the silence on Disko is deafening."

TonyAngelino: "The only remotely credible proposition the company currently has is the Disko project, by virtue of being partnered with professional and sophisticated outfit that is Kobold Metals. However, if they walk or squeeze the life out of 80m, I will exit my position here. I'm also invested here for Disko prospects only. Here's an idea for the BOD to consider... prove up the Disko asset and sell it to a major. How about that for a strategy?"

theofficecat: "....let's focus on Disko!! Let's have the update! Seems need a lot of patience here, I have it."

IvRoche: "I just hope Kobold stump up some serious funds for Disko and that news comes soon - Disko is our best hope! I will reiterate what I have said before... I am here for Disko. I am going to stretch that to "only" here for Disko because it is the only thing that will move the SP."

I noted your recent comments (under different threads) with interest, thanks. I will post a brief note on Disko later today.

Https://www.80mile.com/regulatory-news/73110

Excerpts from ​the Pulsar Helium RNS dated 18 October 2024​ with references to the Tunu Project in GREENLAND:

Bullet point 7: "Strategic Helium Project: The Tunu Project in GREENLAND ("Tunu") is a primary helium district with exclusive rights to 2,816km². Independent studies indicate up to 0.8% helium concentrations, positioning Tunu to meet rising European demand.

Bullet point 8: "Supportive Jurisdictions: With its projects in USA and GREENLAND, Pulsar benefits from supportive local legislation and a community-focused approach, significantly de-risking its projects.

Thomas Abraham-James, President & CEO of Pulsar, commented: "The funds raised will enable us to accelerate our exploration and development activities at Topaz, allowing us to unlock its considerable size and potential, while also advancing our Tunu project in GREENLAND, WHICH HOLDS SIGNIFICANT PROMISES AS ONE OF EUROPE'S FEW PRIMARY HELIUM OCCURRENCES".

https://tinyurl.com/3tc3r4fk