Member Info for IvRoche

Very fair post Ben.

Jameson Land: I think everyone agrees it’s a high-risk, high-reward play. You're right to point out the track record of frontier exploration – success often doesn’t come on the first drill. But what’s different here is that MarchGL are funding the campaign, not 80M. That’s a vote of confidence in the asset, especially when you consider the size of the basin. the amount of investment involved etc. They see something worth testing. If anything comes up, even just strong shows, it could be significant - but also accept that nothing is guaranteed. That’s exploration.

GreenSwitch: Totally fair to be sceptical on profitability - we haven’t seen margins or pricing detail yet. But the MoUs covering 120ktpa suggest there’s demand for the output. If commissioning completes and steady-state output begins in Q4 at the earliest, we might finally get visibility on revenue. Will it be massive? Probably not. But it could cover G&A or reduce dilution pressure.

Disko: You’ve nailed it. This is still in “potential” mode - no deal confirmed yet. But they now own it 100%, the Kobold exit has been managed, and government approval is locked in. That sets the stage for a funding/JV deal. Whether one materialises in the near term remains to be seen, but having a clean structure is a step in the right direction.

As for RM and the comms style, again, fair. It’s been heavy on ambition and light on concrete delivery timelines. But I’ll give credit where due: they’ve pushed the strategy from licence-acquisition to asset progression - and we’re finally seeing movement. It’s not perfect, but it’s progress.

Short-term punt? You could be right - the market is watching now, and news flow is coming. As long as people stay realistic and don’t get carried away, the risk/reward here is starting to tilt a little more favourably.

May as well ramp for it...

It’s easy to be cynical after the past few years, but there are now several tangible reasons to take a fresh look at 80M. Each of the three core assets — GreenSwitch, Disko, and Jameson — is approaching a meaningful inflection point, and the company has moved to align incentives accordingly through the EBT.

GreenSwitch (Ferrandina Plant)

The plant is fully permitted, recently refurbished, and now has MOUs in place with NACATA and Tecnoparco for full feedstock supply (120,000 tonnes per annum) and offtake. Production capacity is significant: 40,000 tpa of esterified bioliquid and 80,000 tpa of biodiesel. Ramp-up to commercial output is expected imminently. This is the first asset in 80M’s history with real revenue potential.

Disko Island

Following KoBold’s exit, 80M now holds 100% of Disko, with a clean structure (aside from a residual royalty). There are no JV complications and the asset is being prepared for a drill partner or other strategic monetisation route. With battery metal sentiment strengthening — especially around nickel and cobalt — this is a valuable strategic option.

Jameson Land

Final Heads of Terms have been signed with MarchGL, who will fully fund and operate drilling on the 8,400 km² licence. A vessel is expected to depart for Greenland shortly, with first drilling in December and results anticipated in Q1 2026. For 80M, this represents a free carry into a frontier basin with helium, hydrogen, and hydrocarbon potential.

Strategic Alignment

The 10% Employee Benefit Trust share award signals a shift. Shares are performance-linked and vest upon delivery of milestones — not granted upfront. This is a clear move to lock in the team ahead of significant activity and potential news flow. It reflects an expectation that value could be realised in the near term.

Outlook

GreenSwitch could generate meaningful revenue as early as Q4. Jameson is on track for drilling and results within six months. Disko remains a high-upside option with clean ownership and scale potential. For the first time in several years, the narrative is supported by operational momentum.

Same routine, Rach: declare doom, demand rebuttal, shout FACTS. It’s not analysis, it’s autopilot.

Ah yes, the classic RachT2 paradox — “I’ve no wish for the SP to fall (in fact, the opposite would suit my interests right now)” … says the poster who’s spent 18 months and 500+ posts talking it down. If that’s your idea of wanting the price to rise, I’d hate to see what it looks like when you want it to fall.

Now back to the point... People seem to forget that Gangfeng have already been here and done that, so there is a template to follow, it's hardly rocket science

How Ganfeng Secured Export Clearance

1. Floor price agreement with the State

In late 2024, as Goulamina was moving into production, Mali’s Ministry of Mines pushed for guarantees that spodumene would not be sold below prevailing international market levels.

To unlock exports, Ganfeng agreed to use an index-linked pricing formula tied to China’s published SC6 benchmark (SMM/Platts).

A minimum floor price was included in the offtake with Ganfeng’s Chinese affiliates, ensuring Mali would not see under-valued exports.

2. Transparent reporting

Ganfeng committed to provide Mali with regular shipment declarations, including tonnes, grade, and realised price.

This gave government visibility and assurance that tax/royalty flows reflected market reality.

3. Negotiated as part of broader Mining Code compliance

Under Mali’s 2023 Mining Code, the State automatically takes 10% free carry and has rights to acquire up to 20% more.

Ganfeng accepted Mali’s 30% equity stake in Lithium du Mali SA, which aligned incentives: the State now directly benefits from higher sale prices.

4. Political backdrop

Goulamina was inaugurated by President Goïta in December 2024 — signalling government endorsement.

Behind the scenes, the inauguration was only green-lit once the export-pricing framework was agreed.

Chef – you call yourself “Exec” and dish up ~120 posts in the last 30 days, but the only thing you’ve actually cooked is contradiction. One minute you’re crying for long-suffering holders, the next you’re boasting about offloading millions and chasing your next quick flip in BOO or PREM.

That’s not conviction, it’s clowning. Serious investors don’t camp on a board 24/7 slagging off management after selling out. Either you’re out and irrelevant, or you’re in and talking down your own money (Sounds a bit like Sylvia). Which is it? Because at this point your whole act looks less like analysis and more like attention-seeking theatre.

Sylvia – one minute you’ve “sold out and moved on,” the next you’re back posting doom and hypotheticals. Which is it?

You can’t claim you’re done with KOD, then spend every day speculating about coups, terrorists, Trump, and secret motives. Either you’re out and irrelevant, or you’re in and talking your own book. Both can’t be true.

Quoting 0.24p as the “true value” while still camping on this board says more about your agenda than about KOD. Facts are one thing - endless contradictions and FUD stories are another.

You’re not proving points, RachT2, you’re just running the same tired script on loop. At this stage it's not even a debate, but more self-parody.

NAV & EV/EBITDA would slightly disagree with you PJ

Alternative Valuations:

- EV/EBITDA (7×) on ~A$720m EBITDA → £4.05)

- NAV 0.6–0.7×: £4.00–5.05)

Vs

Your Basic Valuation: 300koz @ A$5,000/oz, AISC A$2,600 → A$720m pre-tax FCF → A$8.64bn at PE=12 → A$12.9/share ≈ £6.25

Don't get me wrong I would love £6 per share but think we will need Hav fully up and running and would need some solid drill results out of Telfer plus whatever Ernest Giles throws up.

Same routine again, RachT2 – declare your spin as “FACTS,” demand a line-by-line rebuttal, then claim victory when nobody bites.

Nobody disputes that risks exist – they always do – but what you churn out daily isn’t fact, it’s bias wrapped in capitals.

Chat board posters don’t need your cloud-cuckoo insults or pseudo-accounting lectures, they need to see whether drilling proves value. Until then, your endless repetition is dull, droll and very predictable.

What RNSs We’re Likely to See Next

Here’s what I think the roadmap looks like based on the April RNS and usual oil & gas timeliness news flow:

Final Agreement Signed – This replaces the Heads of Terms. It will trigger a $500k cash payment to 80M and marks full commercial commitment by March GL. We should see this imminently.

Regulatory Approvals from Greenland – This includes the Permit to Drill and formal Operator approval for March GL. Without this, nothing moves. Expect this to land around the same time as mobilisation.

Mobilisation RNS – Shipping of drill equipment, expected in September. This would confirm March GL has the green light and logistics are underway.

Spud RNS (First Drill) – Drilling is targeted for December 2025. Once the rig is on site and drilling begins, we should get an official “spud” announcement. This is when March GL earns its first 50% stake.

Initial Results – Stratigraphic data from Q1 2026. This is the one that could re-rate the company if the helium/hydrogen/gas indicators are strong.

Second Well Option – If March GL is happy with the first hole, they can drill a second and move to 70% ownership. If this happens, it’ll be RNS-worthy and market moving.

Joint Operating Agreement (JOA) – Expect this if both holes go well. Would formalise March GL’s long-term operatorship and asset development plan.

Bottom line: We’re entering the “execution” window now. Expect a cluster of RNSs hopefully starting this quarter. Any delay to mobilisation or Greenland Regulatory sign-off would slow things, but as it stands, the next 3–6 months should provide regular news flow.

"The only caveat I'd put on your post is that we all look at the here and now, after all 80M could sell it's stake, do an equity swap etc before drilling."

I would prefer 80m to roll the dice and not sell before drilling starts...

Guys, don't get lost in the noise of accounting theory it's not worth it...

The $200m figure floating around is just a notional construct tied to PAC’s assumed $10 share price. That’s not the same thing as market value, cash in hand, or what JL is actually worth.

Notional numbers don’t matter here because mining assets aren’t financial contracts - they can’t be valued on a theoretical face amount. What counts is what the drill proves in the ground and the terms a partner is willing to sign. Until then, “notional” values are just window dressing.

For 80M shareholders, notional figures are even less relevant. The company’s entry cost for JL was ~£2.75m in shares, so the real question isn’t whether someone quotes a $200m notional, but whether drilling can turn our £2.75m into nothing or into a stake worth multiples. That’s the actual risk/reward facing holders not a silly debate about notional value.

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Worth remembering that 80M’s total entry price for Jameson Land was about £2.75m in shares.

The return profile is asymmetric: if drilling comes up dry, JL could be worth nothing and the £2.75m is effectively written off. But if the wells spud and deliver, even at 50% or 30% ownership, the uplift versus £2.75m is potentially many multiples. That’s the whole play here - a very high risk reward scenario.

Let's see re: RM & ESs deal making all depends on drill results.

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Ashton, creative scenario-building as always, but every step you’ve outlined is built on layers of assumptions - PAC/GEL completing, raising funds, choosing to bid, drilling outcomes, and timing. None of that is in 80M’s control.

The bigger risk is that if PAC do absorb Gel, as I have already flagged, investors won’t need 80M to gain exposure to Jameson Land - they could just buy PAC directly on NASDAQ. That would put the capital and liquidity with PAC, leaving 80M dependent on whatever crumbs can be negotiated.

Nothing wrong with mapping possibilities, but investors should keep clear-eyed: the house holding the cards might not be 80M if you scenario plays out...

Was just about to say, there is a lot of volume 50m shares so far vs daily avg 3m of 14m... Some sort of news is brewing.

I am seeing 6.15 too

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