Member Info for Jimbolina

I have made most of my investment back but bought more shares to average down as I was one of the fools that bought shares some as high as 24p. With Dundas shovel ready and about to produce in 2018 it seemed like a no brainer and much less shares in issue then, but you know how Dundas worked out. So not had any hard cash in hand as such. My average is 1.1p though so still hopeful of a re-rate of the SP at some point and hopefully some sort of pay day. Sadly no matter what the news is the needle barely jumps now as the trust is gone, so opportunities are rare to extract cash on a spike or buy more. Luck to us all.

I think if they do find oil and all signs point to they will, it will be a big enough challenge to 80M to keep the 30% that Rod was so proud of. Not having to put in pipelines, ports, roads etc… to actually see some revenue would be a major plus. I assume that 80M will be able to get loans, but no doubt at a horrible rate. I only hope we do see a dividend from Greenswitch no matter how small and any money does not get dropped straight onto the JLB. Having bought in 2017 it’s not been a good ride and I want a return soonest. Oil extraction on land and at sea are worlds apart. Looking at Texas oilfields you get a feel for what is needed on land and it’s not cheap. As Ashton has said the Texas royalty will have invested with eyes open and must be confident it can be extracted. Hopefully all goes well for shareholders. That would be a first.

I was wondering if 80M Directors have had any conversations with either the EU, Denmark or the Trump administration about installing any critical infrastructure in support of 80M’s projects. I was thinking specifically about Jameson land basin such as roads, a pipeline or a docking port etc…

Denmark is on the record as noting that it does support spending money to assist projects.

I will post if anyone replies.

Greenswitch to Secure Long-Term Feedstock and Product Offtake for Ferrandina Plant

80 Mile PLC ('80 Mile' or the 'Company'), the AIM, FSE, and OTC listed exploration and development company, is pleased to announce the signing of a Memorandum of Understanding ('MOU') between Greenswitch Srl ('Greenswitch'), a subsidiary of Hydrogen Valley Ltd, in which 80 Mile holds a 49% interest, and NACATA Commodities ('NACATA'), a leading renewable energy distributor.

The MOU outlines a potential five-year supply and offtake agreement for the Ferrandina plant in southern Italy, under which NACATA would supply up to 120,000 metric tonnes per annum ('tpa') of feedstock and purchase and distribute the resulting end products. These include an expected 40,000tpa of esterified bioliquid and 80,000tpa of biodiesel.

The agreement aligns with Greenswitch's top-tier sustainability certifications and compliance with internationally recognised operating standards, including ISO and ISCC certifications. The biodiesel will be produced to EN 14214 specifications, ensuring it meets the highest global quality standards.

The Ferrandina plant, fully permitted and recently refurbished, is capable of refining secondary feedstocks including palm oil mill effluent, used cooking oil, animal fats, and acid oils. These capabilities position the plant at the forefront of Europe's renewable fuel infrastructure, supporting growing demand for biodiesel and sustainable aviation fuel.

This strategic MOU strengthens Greenswitch's supply chain and reinforces its ambition to establish the Ferrandina plant as a key player in European biofuel production. The Company remains optimistic about finalising the agreement and views the plant as a cornerstone asset in its portfolio.

Eric Sondergaard, Managing Director of 80 Mile, commented: "We are incredibly excited about our partnership with NACATA, which is central to realising the full potential of the Ferrandina plant. With a secure, long-term supply and distribution framework, this MOU significantly enhances Greenswitch's ability to deliver high-quality renewable energy products to the European market."

Chirpy. I know that the deal is that you get back all of the investment before you start to pay taxes. Read that somewhere. That is great. If we extracted 1 million barrels at 71 bucks each and with 3,940,000 shares. You get about half a cent a share. No costs of production are included. The problem is I don’t know how fancy the operation would be. A classic Texas pump brings up 3-7 barels each stroke say 6 strokes a minute and scale up. Have 10 of them running 365/24/7. You get a feel for it but I really don’t know what is possible in a year. It’s good the harbour is accessible all year round. Storage can be vessels from 250,000 barrels to 4,000,000. I just do know what is possible likely or a decent target. Either way it’s likely the best chance we have of a pay day.

I don’t have a feel for what a first year target would be on Barrels of oil or cubes of gas. The SIA and EIA should not take too long and I am assuming that the extraction equipment is off the shelf and can come to site by boat assuming they find oil and gas. But there are taxes Ashton posted the presentation showing

1) sales royalty 2.5%

2) surplus royalty 7.5% - 12.5%

3) corporation tax 30%

Given we may only hold 30% and there are costs to extract, taxes, plus factor in 4 billion shares in issue of 80M. Large numbers become small very quickly.

Hopefully they do find oil and gas. I still have PTSD from Dundas though.

Thanks for presentation Ashton.

Https://youtu.be/bFmFhHhD4_8

I stumbled across this presentation. (Sadly you can’t see it) but I think this is the company that owned the Jamieson licenses in 2017. Mentions the 1800km line and also ARCO. Also mentions 30-50 million dollars to drill it and 5 billion barrels of oil. Also confirms rocks are same as Norway. Listening to him talk about the bitumen seeps it’s hard to see how drilling will hit anything but oil. I wonder if they could not snare a partner to develop it. Greenland was not much in the news then so maybe had a shy profile. This also mention cairn offshore and that this company’s licenses are onshore.

Anyway might be of interest to some.

There was an operational update on 11th March for the plant which gave Key production numbers were (but it notes they may be revised)

Currently, technical, operational and advisory staff are working on critical path deliverables for a staged ramp up to capacity. A clearer understanding of operational capacity and critical dates are expected shortly, however;

At full operational utility the Ferrandina Plant has nameplate capacity of:

· Biodiesel Unit: 185,000 tonnes/year ('t/y') (continuous mode).

· FEROIL Esterification Unit: 200,000 t/y (continuous mode).

· ESBO Epoxidation Unit: 15,000 t/y (batch mode).

· Glycerine Recovery & Purification Unit: Producing ≥98% purity for high-value applications.

Just some latest mining type news. Mentioned of 17 billion barrels of oil. Hopefully much more.

https://youtu.be/nqZ9jrN9J-4

Thanks CB. I am quite surprised by that and initially thought it was quite negative but .....if they sell it and it generates serious cash (not our usual couple o $million) and we get 29% then JLB gets drilled and discovers good things. It could keep 80M in the game with the "Texas Royalty"at 30% and then we may see some good returns ......finally. Thanks for sharing the CB. I suppose we just wait for the update now.

On 30th June Ashton noted

I will let Cheshirebull update you on Greenswitch because he and the other shareholder were engaged in an intense conversation with Rod McIllree about this project after the meeting finished.

Are you able to share any insight ?

I think we are overdue the company updating us on Greenswitch in any case. I hope not too long to wait. Rod seemed very upbeat in his last interview about progress.

Thanks

Jim.

Thanks Ashton appreciated

Did Directors give any clue on Dundas if it’s a sale or develop. Anything interesting come up.? Thanks.

Much appreciated Aston. I bought originally in 2017 as we were within 2 years of scraping up sand and selling it. Didnt go as planned but I have high hopes for the jamieson land basin. EIA and SIA should not take too long if they get a good hit on it. I am fairly upbeat just now given what may transpire also with Greenswitch and Disko ….but feet on the ground still until we know what we actually have.

Thanks Ashton and chirpy. In one of the videos of Rod he mentioned a spot price of I think 280 dollars a tonne for ilmenite to be commercially viable it’s way higher than that so it may be a goer. But I have given up guessing what is going to happen. If some one can ask at the AGM I would surely appreciate that.

Chirpy

I have also taken it that they won’t offload Dundas. I think development is more likely. After all we have likely spent close to £15 million over 10+ years getting it fully permitted. Spot price for ilmenite is decent and it’s on Europe’s critical list so funding may be possible. Also from RNS the following statement.

The Dundas Ilmenite Project, 80 Mile's most advanced asset in northwest Greenland, is fully permitted and progressing towards near-term production. With a JORC-compliant Mineral Resource of 117 Mt at 6.1% ilmenite and an offshore Exploration Target of up to 530 Mt, Dundas is poised to become a major supplier of high-quality ilmenite. Recent discoveries of hard rock titanium mineralization, with bedrock samples showing nearly double the ilmenite content of previous estimates, further enhance the project's world-class potential. 80 Mile owns 100% of the Dundas Ilmenite Project under its subsidiary Dundas Titanium A/S in Greenland.

Poised to become a major supplier of high quality ilmenite stands out to me. Progressing towards near term production same.

Maybe on the 26th someone can ask the question what they are planning to do with it.

02 June 2025

Notice of Annual General Meeting

80 Mile PLC ('80 Mile' or the 'Company'), the AIM (80M.AIM) and FSE listed and US OTC traded, exploration and development company with mineral and energy projects in Greenland and a biofuels plant in Italy, is pleased to give notice that its Annual General Meeting ('AGM') will be held on 26 June 2025 at 2:00pm at The Washington Mayfair Hotel, 5 Curzon Street, London, W1J 5HE. Copies of the Notice of AGM and the Form of Proxy will be posted to shareholders today and available to view on the Company's website shortly.

For further information please visit http://www.80mile.com or contact:

Thanks Ashton. I am assuming the slides are conservative at 22 billion barrels as Rod noted c 30 billion in his talk. 30 billion at 60 bucks a barrel is 1.8 trillion dollars. Fingers crossed it all goes ok.

I watched Rod’s interview with some interest particularly at Jamieson land basin. So the project had 125 million dollars spent on it and they have 1800km of 2d data. You have to assume that they therefore know the best spots to sink these 2 x 3500m holes by the “Texas royalty”.

They already have an exploration license and exploitation license, so no need like Dundas spending years to get that and millions of dollars we don’t have. But they will need an SIA and EIA. At Dundas the SIA was done and I recall lots of training for locals so they may be able to crib to some extent, and the EIA took years at one point….. 1 year becoming 3 years due to issues for migrating walrus that used the beaches where the sand is located at Dundas. This won’t be an issue at JLB hopefully, but it will still take some time and cost.

So where I run out of skill is I know the square root of jack about oil and gas recovery beyond it needing some storage and a pipeline to take it to ships. I did after all buy a discovery and mining company in 2017. It sounds like a huge venture to me (read years) and how will 80M pay for their share to keep 30%.I am assuming that’s where Greenswitch comes in. I am hopeful if the oil is there they sell it off, but I do like the idea of an oil dividend every year.

Does anyone know what oil in the ground is worth to sell? Also does anyone know what is involved in getting the oil recovery built and how long this would take and what it costs ? Do they start small and get it bigger when the money rolls in or do they go big right away borrowing the money from their oil partners ?

Thanks.