Member Info for RachT2

Hilarious

Some comedian is claiming I haven’t read the filings, while another is suggesting there’s still uncertainty over the holding. That argument doesn’t stand up to even a basic reading of the documents.

The filings are explicit and reference the “Date of Event Which Requires Filing of this Statement.”

The acquisition of the holding is dated 31/12/25.

The reduction to a 0% holding is dated 31/1/26.

Is that timeline not clear and unambiguous? It isn’t rocket science. Anyone still questioning whether the position was entered and then exited over that period has either not read the filings properly themselves or is choosing to ignore what they actually say - or simply hasn’t got a clue what they're talking about.

There really isn’t any room for interpretation here, it's written in black and white.

All IMHO, of course.

Sonic

Yes, I have thanks.

Further to your previous question - I couldn't find a list featuring exact details of outstanding warrants - hence my estimate. The reality is that there are probably more than I estimated as (in general) more warrants are issued than options. But, as stressed, that's an educated guess.

Unless a warrant is close to expiry, there is no sensible reason to exercise it simply to hold a volatile AIM share. If you expect the share price to rise, the rational move is to hold the warrant, not convert it. The exercise price doesn’t change, but the risk does — you’d be swapping capped downside for full downside and tying up real cash for no benefit.

In reality warrants are exercised for only two reasons:

They’re nearing expiry, or

The holder is taking profit

Advisers and brokers, in particular, monetise warrants — they don’t exercise them to become long-term shareholders. And when large numbers of warrants are exercised and monetised in a short timeframe, the unfortunate but very common consequence is downward pressure on the share price, regardless of the underlying story.

Unfortunately, while it’s theoretically possible, your suggestion that warrants are exercised in order to hold the shares is generally not how warrants are used in practice.

As with all my posts, past, present and future:

All IMHO, of course.

The claim that Meteora’s 6% stake in PELI signals an imminent deal or an endorsement of the merger to Greenland Energy ($GLND) is misleading.

Meteora is a SPAC / event-driven fund. They routinely take large positions near NAV because downside is limited (by redemption) — not because a merger announcement is expected. They are comfortable holding positions for short or indefinite periods and moving in and out as if trading equities, depending on risk-reward and market conditions.

The merger event itself is of little interest to their strategy; they often do not wait for it to happen. Large percentage holdings are normal for this type of strategy, as modest price moves can still generate meaningful returns due to position size.

A 6% holding in PELI common shares near $10 is therefore typical SPAC positioning, not a validation of the merger or its timing. Anyone implying otherwise, or calling it a “vote of confidence,” or stating that “they are positioning themselves for the transition to Greenland Energy ($GLND)” is simply ramping.

As ever, all IMHO of course

CC

I definitely agree — which is why I emphasised that I’m not suggesting anything as drastic will happen to 80M’s share price. That said, the exercise of a large number of warrants will almost certainly exert downward pressure on the share price.

I used MET1 purely as a recent example, but if you’re looking for further precedents, consider UKOG, PHE, 88E, and TYM — all AIM companies that experienced (to varying degrees) 'promotional' spikes which subsequently faded as warrant holders took profits, adding to selling pressure on the shares.

All IMHO, of course.

Yesterday was certainly interesting, and it’s still not clear that we know the full story. Was the release of that information simply a faux pas, or was it the result of a hack? From what others have posted, it appeared on the correct account (?), but it has since been removed. I don’t use X much myself, so I can’t add much insight, but for now it remains something of a mystery.

Turning back to warrants. The basic principle is straightforward: if you hold an in-the-money warrant, you exercise it and crystallise a profit — but only within a defined window. Most warrants typically have a lifespan of around 12–36 months, after which they usually expire worthless.

By my reckoning, approximately 40m warrants have been exercised since the company informed the market that:

“The Company has 346,935,493 warrants and options outstanding.”

That is a very large combined number. Of course, we don’t know the precise split between warrants and options. For most AIM companies there tend to be more warrants than options, but even if we are generous and assume a 50:50 split, that would imply at least 173,467,745 warrants outstanding as at October 2025.

Deduct the c. 40m recently exercised, and that still leaves roughly 133,467,745 warrants potentially in existence.

Another key unknown is the exercise price of those remaining warrants. However, as we’ve already seen, if and when the share price rises further, additional warrants are likely to be exercised — which inevitably places downward pressure on the share price.

We are clearly not facing anything like the situation MET1 encountered, with an overhang of around 750m warrants at 2p, but there are obvious similarities.

And it’s worth remembering how that ended: MET1’s spike from nearly 50p ultimately collapsed to below 2p.

To be clear, I’m not suggesting anything remotely as drastic will occur here. However, it does reinforce my view that any spike driven by the upcoming float is likely to be temporary, with the share price drifting lower again in the days or weeks that follow as warrant exercises, selling pressure, and ‘promotional’ intensity begin to fade.

As with all my posts, past, present and future:

All IMHO, of course.

That would explain sudden increase in warrants getting exercised over the last few days.

As with all my posts, past, present and future:

All IMHO, of course.

“80M on X two hours ago!!”

That post isn’t new — it dates back over three months.

Drawing attention to it now seems counter-intuitive, particularly as it also stated at the time:

“Plant restart planned for December 2025 with full production in January 2026.”

That would make it the fourth or fifth stated restart date that has passed without the plant actually restarting.

Highlighting another overly optimistic historical post doesn’t really strengthen the investment case; if anything, it underlines the ongoing pattern of missed timelines.

All IMHO, of course.

Ashton

You say you’re not a ramper, yet Kangerluarsuk is a textbook example of why that label keeps being used.

You valued Kangerluarsuk at $34m by lifting Rio Tinto’s $27m exploration spend and applying an invented 1.25× premium. Even leaving aside the multiple, this comparison is fundamentally flawed: Rio’s expenditure was not even on Kangerluarsuk, but on a different, unrelated licence area.

That spend was:

risk capital,

deployed to test geology elsewhere,

and never implied a valuation for Kangerluarsuk.

The market outcome is unambiguous:

• Kangerluarsuk was ultimately sold for less than 6% of your stated valuation.

• Approximately 75% of that consideration is contingent on the buyer actually discovering an economically viable resource.

So we have an asset you promoted at $34m, justified by spend that didn’t even apply to it, later sold for a fraction of that figure — most of which may never be paid.

That isn’t analysis.

It’s ramping by substitution: taking unrelated exploration spend, relabelling it as implied value, and presenting the result as credible.

Optimism is fine.

Denying this is ramping isn’t.

Ashton

It’s healthy for a board to have a range of opinions. What isn’t healthy is repeated and obvious ramping.

So let’s be clear on definitions. My understanding of a ramper is someone (or a group) who attempts to inflate a share price in order to benefit from a higher price, often by posting hype, exaggerated claims, or information that is misleading, unsubstantiated, or simply false. If you have a different definition, feel free to explain it.

With that in mind, do the following statements fall into any of those categories?

A valuation of £500m for GS is warranted

Drilling at Disko would DEFINITELY happen in 2025

Value of Kangerluarsuk = £34m

At least 1p by the end of 2025!

HUGE DAY AHEAD!!!!

10p by 30 June 2026

This will be a lot higher than +5p

£250m market cap definitely within the next six months

£100m market cap on Italy production alone

3p–5p early Feb

10x within the next 2 weeks

100–1000 baggers coming in 2026

Fancy 2p to be seen this week

Need I go on?

If something reads like ramping, is posted like ramping, and follows the same pattern across multiple boards, it’s reasonable to consider it ramping. Yours included.

If you—or anyone else—can provide evidence showing that the claims listed above (and others) are properly substantiated, or have actually occurred within the stated timeframes, and therefore do not fall within the definition of ramping, then by all means please share it.

As with all my posts, past, present and future:

All IMHO, of course.

Ashton

You’re twisting the facts to suit your narrative yet again. When you first posted that exchange with Jimbolina, I pointed out what should have been obvious.

Jimbolina SPECIFICALLY asked about US involvement in INFRASTRUCTURE. ES’s reply did not address infrastructure at all. Instead, it made a vague reference to having had some dialogue with the US – something that could apply to almost any company and is hardly specific or meaningful.

For clarity, this was Jimbolina’s question:

“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.”

Now, please re-read ES’s reply and point out where he makes any reference to INFRASTRUCTURE – or, in fact, says anything concrete at all. No pun intended.

Please stop misrepresenting both my posts and the company’s response simply to score points.

All IMHO, of course.

MrP

You’re starting to undermine any credibility you may have once had. Your estimates for the company’s value seem to increase with every post. They were always highly optimistic, but they’ve now drifted into pure fantasy.

£500m for GS alone? Let’s revisit the actual facts.

HV reduced the price of a 25% stake (sold to 80M) to £380k, which values the entire business at around £1.5m. That’s roughly 0.3% of the valuation you’re suggesting.

The previous owners went into administration, presumably because the operation wasn’t profitable. HV then ran the asset for nearly four years before mothballing it for seven. That strongly suggests it wasn’t profitable during that period either — profitable businesses generally aren’t mothballed. 80M subsequently acquired it from HV. We’re now told that this time it will be different.

We’ve also had four or five announced restart dates come and go, with the plant still not operating. It’s now well over a year late. What exactly are we waiting for?

A poster here has also stated that RM indicated at a meeting that GS could potentially be put up for sale once it becomes profitable. That raises further questions about long-term value assumptions.

Finally, are you benchmarking your valuation against any comparable plants or transactions? There’s no evidence of that. It appears to be another number plucked from thin air in an attempt to ramp the share.

All IMHO, of course.

SpottyNutter

I think you may be confusing me with someone who actually cares about your opinion - or that of anyone who recommends your asinine posts.

Having looked through your posts here and on other boards, it’s clear your default tactic is rudeness and attempted ridicule in an effort to shut down opposing views. Phrases like “No s.h.1.t., Sherlock!” seem to be a regular feature of your contributions – directed not just at me, but at others as well. Hardly mature, insightful, or constructive.

Your posts rarely, if ever, add anything of real value to the discussion. On that basis, I’ve now filtered you and will no longer be engaging.

All the best.

Ashton

This looks like yet another attempt to keep the ramp going – there’s nothing new here, just further regurgitation of very old information.

As for your claimed contacts at the company, weren’t we repeatedly told by you that Disko would definitely be drilled in 2025? You’ve reposted that assertion on this board on at least 14 occasions.

I also recall you previously stating that ES had said a fund raise wasn’t planned, only for one to take place roughly nine weeks later. Is that correct? And weren’t there other occasions where you assured the board that further fund raises wouldn’t occur, only for them to do exactly that?

I could list several more examples of similarly regurgitated “news” that were ultimately equally disappointing.

Given that history, I’ll take your information with the usual pinch of salt – it consistently appears framed to suit your agenda and has often failed to materialise. That said, thanks for the effort to keep enthusiasm going – I’m still holding, so I wouldn’t mind seeing the spike run a little higher yet.

All IMHO, of course.

Karpui

Looks like you've never heard of forward selling? Pretty common on AIM when warrants are exercised.

You should familiarise yourself with common market practices.

LITT seems to have forgotten to update us on today's so-called “dark” trades. I'll oblige instead, always eager to help.

Based on the available data – and some fairly straightforward reasoning – the late grey trade at 15:07:14 appears to have been a sale. Around 5,000,000 shares. That would make sense, particularly given the recently announced c.30m warrants that will inevitably be looking for a home. On that basis, there would still be roughly 25m to work through.

Thanks to Greeno for posting the article – an interesting read. Unlike much of the commentary elsewhere, it highlights the obvious question mark surrounding the impact of the large uplift.

‘’One of the main questions, therefore, centres around how uplift affected the petroleum system.’’

All IMHO, of course.

LITT

Hilarious - yet again. Thanks for the laughs.

Rather amusingly, it’s you who’s showing your true colours – and everyone can see it. You make a derisory comment about my post, but when asked to explain your negativity, you retreat into silence.

Pathetic, perhaps, but entirely predictable.

I’m actually quite pleased you’re no longer engaging. When you’re not copying and pasting pages of AI-generated waffle, you’re writing it yourself – and the quality doesn’t improve.

Truly laughable.

All IMHO, of course.

LITT

And right on cue, the AI-assisted ramper resorts to ridicule. Entirely predictable. Rather telling, really.

So, a simple question: what exactly is “bxll” in my last post? It shouldn’t be difficult - it was a short post. And no need to outsource the answer to Gemini or ChatGPT on your behalf – do try engaging your own brain for once.

When the nonsense runs out, mockery seems to be the default response. Sadly, that says far more about the poster than the post they’re trying to dismiss.

All IMHO, of course.

Banzai

Agreed. It does feel as though the rampers have largely run out of anything new to say and are now just recycling the same old ramping nonsense, often resorting to their usual practice of ridicule when faced with opposing views.

That said, I am expecting the US market to push GEC higher on the day of the float and possibly for a day or so afterwards. If that plays out, I suspect that period may mark a medium term peak for 80M. So this spike MAY still have some legs left in it yet. But I very much doubt it’ll hit the rampers ridiculously high projections - a straight line all the way up to 5p apparently. LOL

I’m comfortable having already taken some profit and will likely retain the remainder of my holding until we can see clearly what the float has actually delivered.

All IMHO, of course.

Guly

You rampers really are starting to sound desperate. Now Guly is adding to the list with yet more inaccurate claims.

Referring to the float; you state that I said the share price would “continue to rise thereafter for at least a few weeks”. That is simply untrue. Don’t twist my views to suit your narrative – I will correct you when you do. My opinion has been consistent: I expect the price to peak in the days / weeks following the float and then fall, just like every other ramp-driven spike fuelled by so-called “strong retail participation”. That is entirely different from claiming the price will continue to rise.

You then ask, “Where could we be by then – at least another 300–400%, maybe even higher now Greenland is in the spotlight.” Dream on.

You also say, “Thereafter, as we get closer to the drill hitting the ground, I’d expect another leg higher.” On that point, I actually agree. But it’s far more likely to be a rise from a lower base, formed sometime between the float and the inevitable re-emergence of you and the rest of the ramping crew.

Spod

‘’Should reach £100m Mcap on Italy production alone.’’

Based on what exactly? The previous owners went into administration, presumably because they weren’t making a profit. Then HV ran it for nearly 4 years before mothballing it for 7. That suggests that it wasn’t making a profit during those 4 years either - why else would you mothball a profitable business? Then 80M acquired it from HV. But this time Rodney - it will be different. LOL.

Having said that; after this spike has passed I look forward to seeing you both back again towards the end of May / early June – perhaps that will be the next opportunity for you to ramp the drilling and help create another spike for us. Fingers crossed.

All IMHO, of course.

Spod

I can’t reason your posts.

You say “Most don’t read your posts, including myself” — which probably explains why you keep asking irrelevant questions and making erroneous statements.

You also ask whether I own shares here. If you’d bothered to read my posts, you’d know I’ve stated my current position repeatedly.

You then say it’s “all about timings” and that many who bought in the last month are in substantial profit. Exactly — as am I, and exactly as I suggested would happen back in early December.

As for “read the room — 99.9% here are positive and you are on your own”, that tells me two things: you’re almost certainly exaggerating (classic ramping behaviour), and I’m not someone who blindly follows the herd.

Spotty

More nonsense — you’re starting to sound desperate.

You claim that I “failed to recognise negative market sentiment for four and a half years from 2021 until September 2025, and have continued to fail to recognise the change to positive sentiment over the last five months”.

That’ll be why I traded several spikes profitably during that four-year decline in which the share lost around 97% of its value. I didn’t lose money. And apparently I’ve failed to recognise recent changes too — despite predicting your arrival (and the rest of the ramping crew), this spike, several previous spikes, multiple fund raises that others denied would happen, and the ongoing lack of progress at GS.

Yes, clearly I haven’t got a clue what’s going on. LOL.

For the record, I’m enjoying this spike while it lasts and expect to benefit from more. So please don’t disappear once you’ve taken your profits — I rely on you and the rest of the ramping crew to create these spikes. I’m sure you’ll be ramping the drilling later in the year too; that may present another opportunity.

Fingers crossed.

All IMHO, of course.