Member Info for RachT2

BA - spot on. I agree with pretty much everything you've said, but, I wouldn't base any investment decisions on the fact that Ashton says there will be a drill. He has been wrong about fund raises and drilling progress on multiple occasions. To be fair to Ashton I suppose he's not the one saying we will be drilling - as ever, he is merely regurgitating what BS Jay / 80M BoD tell him. Unfortunately that has meant he's repeatedly been wide of the mark on his predictions.

4/2/24 'In any case, we should know the definitive answer to the question of 'drilling' or 'no drilling' before the end of March 2024. Not long to wait!'

5/2/24 'Discussions with KoBold Metals regarding the 2024 fieldwork for Disko are still ongoing - JAY is expecting to know of KoBold’s decision regarding the fieldwork before the end of March 2024'

13/2/24 'Yes, in my opinion, KoBold will drill this year.'

13/3/24 Complete U turn - 'Disko 2022 fieldwork was announced on 24 March of that year. In my view, it is most unlikely we will have an update on the Disko 2024 fieldwork this month (March).'

28/3/24 'On 31 Jan 2024, I posted a note under this thread and said I was happy to wait patiently for the following two key events to play out and then take stock again:

1. Announcement before the end of March 2024 of a fieldwork program including a drilling campaign this summer. I based my expectation purely on the fact the 2022 fieldwork program was announced on 24 March of that year (with hindsight it was wrong to have placed too much reliance on the past timetable).

2. Announcement before the end of 2024 of the assay results following the drilling campaign.

……I have changed my view that the Disko 2024 fieldwork program update is now likely to come next month (April) - if not, then sometime in May (Yes, I repeat, it could even be May).'

29/3/24 'That is, RM was expecting the Finnish assets to be sold (hopefully) by mid-summer 2024.'

Poor chap - for anyone to be so confident in their own biased opinion is remarkable.

'How much of the overall portfolio and share price is driven by Hydrogen, I'd suggest zilch.'

Contrary to the hype posted by rampers bigging up JL that's exactly what I've been saying for quite some time now. Any 'green' hydrogen that may be present isn't likely to be monetised - and if (BIG if) it ever is it will be long after Greenswitch produce it. So of zilch value to shareholders in 80M.

Ouch indeed.

Yet another example (if any more were needed) of the futility of being a LTH in ANY junior miners. You're more likely than not to get diluted to near oblivion. Trade the peaks and troughs and be happy with small incremental gains.

So to a fanfare announcement Jay span off MET 1 and was to retain the value of 62.5m shares valued (at floatl at 5p each - a supposed £3.25m. I've called this out virtually since float as being another dud. Today they are announcing another hugely diluting fund raise at at 53% discount. As Jay / 80m have never had to funds / inclination to subscribe to any fund raises their holding today is now worth a paltry £140k. Some drop from £3.25m - in fact that's another one that's had a 96% in shareholder value.

I disagree with TA and Ashton when they advise to just sit and wait for news. I think these facts / scenarios deserve to be explored - at length if need be. Forewarned is forearmed. It is becoming increasingly likely that Kobold and 80M are going their separate ways, Additional to the facts I posted earlier Ashton has told us that RM is exploring 'several other alternatives' and the recent curve ball of trying to become SAP producers and refinery owners surely adds to the weight of evidence suggestion that Kobold is walking away. Why explore alternatives or burden oneself with the additional workload (of dabbling in a totally unconnected industry) if your main project was about to be proven / confirmed? Doesn't make sense. I think the news that Kobold is walking would be hugely detrimental to 80M's SP; firstly Rio walk away and then Kobold. Not a good look and one surely to hammer the SP.

Thanks Jimbolina - interesting article.

I'm not sure (we aren't told) when the question was put to Kobold of whether it would be working in Greenland in the future but the response is somewhat disconcerting. Ashton tells us RM has told him that drilling at Disko will occur in 2025, but he obviously didn't mention anything about Kobold's involvement. Confirmation of Kobold's involvement would have been posted immediately - with delight and relish. So will Kobold be involved in 2025? The article states -

'A spokesman for KoBold Metals declined to say whether the firm, which surveyed Disko Island off the west coast of Greenland for mining opportunities in 2022, was likely to do business there in the future.'

That does seems to be a rather strange response to make if Kobold were already committed to a drilling campaign in the 2025 season. There are other factors that might point to a breakdown between Kobold and 80m and Kobold's exclusion from any drilling this year.

1. Apparently a 12 strong representative party from Kobold met with the 80m BoD a few months ago. Despite expectations / assurances of imminent news none has been forthcoming.

2. Immediately after that meeting there was insider dealing by the BoD - was anything that might be price sensitive agreed at that meeting? Perhaps not.

Ashton has also told us previously that drilling equipment must be organised by the end of the preceding December for drilling to occur. Well here we are in Q1 and nothing definitive has been advised to suggest such equipment has been organised - or equally importantly, what level of equipment has been organised. If RM is to be believed it's looking increasingly likely that any drilling that does occur in 2025 may be nothing more than a token unilateral gesture funded by 80m - and that will require another fund raise. I'll be happy to proven wrong. Good luck to holders.

Ashton - is that the extent of your response; stalker? How disappointing and, quite frankly, rather puerile. No counter arguement when your apparent attempt to ramp is again shown to be utter rubbish? Still, we're all getting used to it now.

But I will thank you for posting the message. Your post has served well to highlight how our fellow US investors view the likelihood of being able to make money by investing in 80M. While most stocks in the US have risen (considerably) during the time 80M's has been listed in the US the SP (in the US) for 80M has FALLEN by nearly 99%. No 'buy the dips' being practices on this stock. LOL. And what of the appeal of investing in 80M since Chump announced the US was going to buy Greenland and 80M acquired 24% of HV? The SP says it all really - both here and in the US. The market doesn't appear to share your bias - as it hasn't done in the years since you first invested at an average of 9p and began to ramp it. Still, you know best eh?

And your point is?

Always been the same since listing in US - wild swings on paltry levels of trading. Today up 38% on less than $1500 worth of trading. A fortnight ago it was down 46% on $14k worth of trading. Immaterial.

'in the world of business, the difference between a grant and a loan is well known.' I would suggest that in pretty much all walks of life the difference between a grant and a loan is well known, I am well aware of the difference; despite Ashton's misinterpretation of my posts. I did a search for grants available for energy transition projects in the EU and was unable to find one that didn't consist of a proportion of it being a loan, perhaps I missed the relevant grant or it didn't appear in the search results. Either way, time will tell which of us is correct, if indeed 80M do receive a grant. Should it be received let's hope it does come without an element of it being a loan.

Stalker? My how you do flatter yourself Ashton. LOL

'Secure approval of green hydrogen government grant of up to €10 million.' I'm very much looking forward to being shown that the grant(s) you refer to do not contain an element of loan within the sum allegedly being sought.

CC - I wonder why you pick the figure of $5m? Kobold projected costs were $11.6m 2 years ago. For the same level of work initially agreed that figure must surely have risen in line with inflation during those 2 years. Let's say a conservative $12.5m today. Your figure is 60% less than the expected initial works would cost today. Either they perform 60% less drilling than they initially agreed to or 80M has to find $6.25m. If Disko is as fantastic as we are repeatedly told then why on earth would they scale back a drill? The area needs proofing up to drive it towards a profitable sale or monetisation by any other means.

'Rod McIllree was confident enough to confirm drilling at Disko this year,......'

And as we all know RM has a history of giving reliable, accurate and trustworthy statements and projections. LOL

Ashton - you recently misrepresented another of my comments by the rather unscrupulous tact of not posting it in it entirety. Naughty boy. So here is the relevant section in full - 'The much promoted Gov.t grant of up to €10m is just that - anywhere from €0 - 10m. I am unable to find ANY such grants being available that doesn't consist of a large proportion of it being a loan, and a requirement that it is to be spent on a defined / agreed 'green' project. So that money cannot be considered as cash to be used however 80M may wish.'

So Ashton -

Do you know of ANY such loans / grants that are not exactly as I've described?

Do you know of any grants that do not contain a fairly large proportion as being a loan. A loan that will obviously need to be repaid.

Do you think those in charge of the purse strings will look favourably on a UK / US based company run by an Aussie (with history) recently acquiring an EU based company and then stating that one of the reasons for the purchase was to enable it to access EU funds?

Looking forward to your reply. LOL

Didn't I know it - Ashton has again side stepped answering pertinent questions, questions that cast a shadow over his extremely biased opinion of 80M. Just to remind folks - he's been repeatedly telling all what a wonderful investment Jay / 80m was when all the while his own "large" investment in them lost him 99%. During that time he made another investment - and that one is currently down 84%. It really is a text book example of why one shouldn't fall victim to investor bias in this game. Good luck people.

Ashton. You have just posted my comment of "If there is any profits forthcoming from Greenswitch (and that's a big IF) then they won't materialise for quite sometime yet." I stand by that statement. When do you think any profits will be useable to fund drilling at Disko or for ANYTHING other than paying for the required acquisition costs for HV / Greenswith? My guess is not until 2026-27 at the very earliest - You state - "I understand management plans to use the revenues from the Greenswitch plant to fund exploration activities at Disko and Jameson land." So if Disko IS to be drilled this year are you expecting money from Greenswitch to fund it? Or do expect 80M to find tte required money from a different source? Although I've asked these questions of you based on past experience I am not expecting an answer - you have not yet been prepped with a quote from RM or another BoD member. And, unfortunately, you always seem very reticent to offer your own opinion in response to such questions. Go on, be brave, answer these rather important quandaries.

Ashton - PMSL. For each faux pas I may have made that you re-post I'll reciprocate with one of your "entertaining" comments that have been misleading, inaccurate and been nothing more than a hollow ramp or irrelevant sentiment and b@##@&s. Bring it in - I love a challenge. Not sure the readers of this board would be interested in reading our challenge of trawling through previous posts (and re-posting them) but in the interest of balance I feel duty bound to post a view opposing your perpetual ramping and rubbish. Over to you :-)

Ashton - 6 Oct 2024 "There will NOT be an equity fundraise in 2024 and I am 100% confident.”

Touche.

LOL

"The above are not Ashton's fantastical, exuberant and fanciful conjectures or theories or hopes." - but we only had to wait another 6 minutes for one of those to appear. LOL. Oh, and the Oscar Wilde quote is another bizarre example of misplaced sentiment.

".... that 80M sells some or all of its Finnish assets to KoBold and uses the money for drilling Disko." What? For someone who has repeatedly told us - think Disko, Disko and nothing but Disko - surely you are talking wishful twaddle. Kobold have 80M over a barrel and they are by far the smarter and better financed / resources party of the two. Drilling at Disko was expected to cost $11.6m nearly 2 years ago - add in inflationary pressures and that is now maybe $13m? 80m have to match half to proceed tha ONE PROJECT that you have told us is the mainstay for 80m. Where's 80m going to find that sort of money just to drill? Don't forget their many other ongoing costs and expenses. If there is any profits forthcoming from Greenswitch (and that's a big IF) then they won't materialise for quite sometime yet - and even then they'll be needed to fund the purchase of the remaining initial 25% acquisition of HV and then the additional £6.05m due to HV within the next 2 years. Kobold might take all of 80m's Finnish assets in payment of 50% of the initially proposed drilling costs, if they are feeling generous. If not, they'll insist 80M cime up with the 50% costs and 80m can attempt to sell the Finnish assets (or ANYTHING it can sell) in the open market. It is common knowledge that 80m has been keen to offload assets for years - I haven't been made aware of any imminent sales, all I've heard (for the last 2 years) is hollow talk of imminent sales. Worst case scenario, Kobold walk away from 80m and partner one of the MANY other opportunities in Finland / Greenland.

Oh no. Here we go again! Ashton setting the stage to post yet more of his fantastical, exuberant and fanciful conjectures, theories and hope's. All of which will, as usual, be omens of great fortune for 80M and it's shareholders. Yawn. Would be great if he was a reliable source of good prophecy, but alas ...........

Why wouldn't the bank put this technically insolvent mess into administration? Or do a debt for equity swop - which would probably wipe out existing holders? If I owned this company's debt those 2 options would be high on my list of solutions - why kick the can down the road any more?