Member Info for BenAlder

And yet Rod was discussing with shareholders at the recent AGM, the possibility of selling GS if prices firm in the future. Sounds like they've seen the light and want to get out ASAP.

Just as Dundas is not profitable for a simple scrape it off the beach operation at current prices, Disko and the other Greenland mineral projects are unlikely to attract much interest for the same reason, imo, and why Kobold chose to walk rather than spend any more now. But I do believe oil/gas is more likely to be exploited. A wealth fund like Norway would greatly aid their independence from Denmark. Fingers crossed for Jameson drilling this year.

Yeah the MC has doubled, but the SP remains where it was.

I agree he has advanced the company , but it still shows no certainty of a return in the future yet.

Jameson is very good and a pleasant surprise. There was some redemption for Rod from me on this one.

Disko as I previously forecasted would not get drilled this year. They sat on the news for a long time. Now it is unlikely to get drilled for another few years at best.

Bio-diesel business is a mistake. Forget the aviation fuel side, they haven't even set that production line up yet. How many folk or businesses do you know that are using bio-diesel? Current company's producing it are struggling from what I've read. They require covid level oil prices to survive. People do not want to pay that even to save the planet.

Their track record is still mainly failure. Hype that never materialises year after year. Constant dilution eroding positions, and the mugs that average down in total belief in the asset and oblivious to the management. I do still hope to make some money here, but my expectations are not high and its a small punt. Hoping we strike oil/gas and I'll exit on that, but would not add any more than I have already.

Back to the thread topic.... Disko.

Kobold walking away with a 2% NSR means it is not really a 100% fully intact project. That 2% royalty could have raised a significant sum to progress it to a mine in the future, should they ever find anything. It was a bad deal by the board to resolve a prior bad deal by the same fellows, that gave Kobold 49% of Disko for one summers survey and no drilling commitments. Several years down the line, we are all none the wiser, except it is still worth drilling.

So looking for a partner and/or waiting until the Italian folly produces the millions of euros that will be required to drill one hole. I've made it clear that I think this was a bad move for shareholders. I can see Disko getting sold to one of Rod & Co's pals or spun out like MET1 if a cashed up partner is not found within the next year.

Jameson is the focus now. This is the current best chance of producing something for shareholders in the short term, although I suspect they wont actually drill it until next year.

They can always give helium another mention too. Worked a treat last time, but maybe not twice..

"Kobold’s recent exit, surrendering a 49% stake in exchange for minimal value, also raises serious concerns." - Id say a 2% Royalty, no risk, on Disko was a fantastic deal for Kobold considering how little they advanced the project. At least they deemed it worthy of holding a stake in it.

£2M wont last long. Might just cover a Disko ariel survey that we were promised. No drilling. Suspect our share of costs in Italy will consume the remainder.

And the fantasy "The negotiating parties may well be reputable and well-established mining companies." - This I seriously doubt. The big guys will only come in after a significant find. However, as was the case with White Flame, I wont write off Rod's ability to find a partner within the next couple of years to drill Disko. The terms might not be great though.

I have no idea what is going on here, but WF and Italy could be the embryo for growth in 2026 and Disko remains on the cards. As usual eagerly waiting for more information from the clowns in charge.

Rach's 'fear spreading' is as valid and questionable as the blatant and extreme ramping. No one here is interested in petty personal squabbles and attacks on each other. Stick to 80Mile please.

Besides, those are relevant questions, along with many others, that have not been answered in all these months by RM since purchase.

eg -If the deal folds do you think 80M will get much of its money back? If it produces, when will the company see returns? Given the bullsh:t in the RNS regarding production readiness and plant completion, both will now lead to additional costs and delayed cashflow. What is the financial structure with the other 75% owners, and what is 80M's liability in this venture? Where is the podcast RM said he would do?

Disko - The biggest secret. This year, next year, shelved or sold?

As usual with everything to do with this company, it is all cloak and mirrors with shareholders hanging on to Rod's every word and nuance in body language to try to understand what the F is going on. I don't do blind faith like some.

Why did the news on Jameson flop. That is what I'd like to know/hear. Is it a lack of PR in the new company, or trust in the BOD? And could a positive announcement on Disko get the same reaction?

Beyond your constant self promotion and riddles, what is the point you are trying to make?

"and turning into the cash cow we know it is" - How do you know? Enlighten me please, because it looks like a potential money pit and white elephant, if the whole climate change bubble bursts.

The model looks more like that of the petrol station, where margins are so narrow that large quantities have to be produced and sold just to break even. Oil prices need to be much higher. The Chinese have an excess in production capacity due to the slow uptake. It is expected that they will export this at rock bottom prices. Unless the Govts around the world quickly impose tougher requirements on the use of biofuels, it will remain a small niche market. That does not look likely as many countries are backtracking on previous pledges and goals.

Do they have an off taker yet? - No.

Drilling Jameson is a really big deal. Comparable with Disko getting drilled imo.

Market not interested though.

Rob & Co have at least saved face for using shareholders money to but WF off of themselves.

Can they justify buying Greenswitch?

Ashton - Thanks for your reply. Fair enough but I'm not swayed.

You could argue that Jameson Land is a contender for that position too. Any project that gets some external financing will become the flagship.

Unless Kobold is paying, I do not see any drilling happening and I think 80M will be restricted to a low cost ground-loop survey as stated. I find it hard to believe that the BOD would not have capitalised on the tremendous news of Kobold drilling this year. Not like them to miss an opportunity to pump some really positive news. A decision must of already been made at their last meeting. My interpretation is that it is not happening this year, but I'm still hoping they will commit to drilling some of these targets in the future. The revised agreement has still not been signed.

Time has moved on and I strongly suspect that there is insufficient cash to drill with this latest purchase being the current focus of attention and spending. Rod can easily justify being unable to drill this year, even if he was sincere in what he said in January.

Tech - They are moving the chess pieces alright, but are they winning?

What are they building here? I'd really like to know, or are you just another average retail punter yourself?

Ashton - Why are you so sure they will drill? I think you are in a minority of those that do. The latest information from that RNS just about confirms it by the omission of the word drilling. Cant imagine that as an over sight.

Certainly not in the same class as the recent RNS stating that the start of production, that was expected to start by now, has been delayed by a year because they forgot that you need people, experienced people, to run the thing. So they have had to hire a consultancy to train and assist the newbies up to the start of full production. A 'soft' start to help them get used to it and what all the buttons do. Also, apparently they now need to spend another £2M to finish the plant, even though it is ready to go right now.

Over sight or incompetence, or even deliberate misinformation or omission of relevant information.

For example, they must have a model for production and sales. What kind of profit do they hope to generate and when?

I doubt they have a single clue..... just aspirations like the average retail punter!

Sorry...Agreement relating to the Defense of Greenland between the United States and the Kingdom of Denmark, April 27, 1951, updated 2004.

All you need to know is that the new lot are not keen on Trump or becoming americans. Keen to be a sovereign country but still attached to the Danes financial life support and free health care. They are flown to Denmark if required.

The Americans signed a deal with the Danes in the 70,allowing the Americans to station whatever number of troops/planes/bases etc, they wanted without Danish consent or notification. Used to have a few more bases than the one now. Point is, they already have what they say they want. Security and minerals.

Greenland/The Danes have always had an open door policy to anyone who wanted to access their potential mineral wealth. The reason the Klondike never happened is down to economics. Climate and lack of any real infrastructure are expensive obstacles.

Nothing is going to change in Greenland in the near future that is going to help 80M. Certainly not in the two year time frame someone here set for themselves. I doubt Disko will even be drilled in that period. They are biofuel producers at the moment, and I can see that plant sucking money up before it starts paying its way. Oh well BOD have MET1 to escape to if it all goes t;ts up. Great deal! Brilliant portfolio they have, all looks familiar?

Yawn....... Who cares who won the local council elections.

I hope the second lady shows her gratitude and thanks all the Greenlanders!

Its a pathetic attempt by the BOD to kid the investors that 80M actually got some kind of good deal here.

Fair enough, CC. I do not see the airlines rushing to switch over in a hurry though. Paying more than twice as much as your competitors for your main costs, is not going to keep you in business for very long.

Ashton - Govts want the private sector to build and finance it all, This is not happening fast enough yet. Govts are tickling it with low grants to encourage them, but not enough help to attract the big speculators to this great frontier market. Why? It is niche, too expensive and yet to be established as 'the' way ahead. It is a huge gamble to be an early player to this tech.

Even if I am wrong, my main point is that currently and for the next few years at least, it will be a difficult market to operate in. Thin margins and high risk. Could be expensive to stay in. Unlikely to produce significant income for the mining side soon. Big dilution for the mining speculators here as a result, esp if there are supposedly partners just around the next corner as you insinuate. What if this move was because there is no interest in our assets at all. Would you remain invested here if that were the case and pin all your hopes on bio-fuels?

Tony don't put words in my mouth. Legal mandates. LOL.

Hope your sanguine outlook is not a sign of something else!

Yes lets look at the EU. Germany is planning on burning more of their dirty brown coal rather than import expensive gas. Their manufacturing industry is currently hampered with high energy prices so they are happy to emit more CO2 to compete with the world.

China and India have plans to build many more coal fired power plants over the next few years.

They have SFA intention of getting serious about SAF.

Make flying expensive again. Which is what they are doing with this. I understand your point but I do not see the investment happening to make this work, which is building at scale. There is no appetite to pay significantly more for the green alternatives. We would rather fry!

Now you have Trump who is not a supporter of green technologies running America, so not happening there in the next 4 years. Current climate plans will soon be abandoned in favor of protecting against change, as there is no global unification to achieve the plans they set out and are failing on. Its a bubble that is going to burst.

Do you think America is going to drive this change?! A Grand challenge as they say, but is there really going to be any serious demand for SAF in the immediate future? From what I've read, no. Not unless its heavily subsidised by Governments, which seems unlikely against the current world political and economic landscape. Currently the profit margins are very slim on bio-fuels, compared to the high production costs incurred. Large scale production is needed to make it viable. SAF only makes up 0.2% of aviation fuel consumption and costs 2 - 5 times as much as conventional jet fuel.

https://ibexpub.media/is-sustainable-aviation-fuel-really-more-expensive/