Member Info for RachT2

Kerching - there's the fund raise I predicted would occur in 2024 and yet another appreciable DILUTION. It has though surprised even me as (unfortunately for all holders) it didn't occur in quite the same scenario I was hoping for - I expected it to accompany good news about Disko and for it to be for a much larger amount to fund drilling. Ashton was extremely confident there wouldn't be a fund raise in 2024 - well, looks like he's been led astray yet again by the BoD, surprise surprise. Let's hope his confidence about a substantive drilling at Disko isn't similarly misplaced. Are we to now expect yet another fund raise soon to help fund Disko? Looks like it if drilling does go ahead - they've no other money in the kitty. Unless of course drilling doesn't go ahead in 2025, which is looking increasingly likely. I hope I'm wrong though.

Still at least the talk of "downstream" interest now makes sense - nothing to do with Jameson, oh no, let's buy an Italian biofuel producer instead. We, and the copious amount of staff we have, (LOL) are experts in that area - NOT.

I'm very pleased I didn't accept Ashton's little wager (see post below) - a lot of people would miss the endless stream of those ever confident and optimistic posts

Rach - Here is a challenge to test our convictions. Before I spell out the challenge, I want to state our positions:

1. You have predicted that there would be an equity fundraise in 2024.

2. I have predicted that there would not be an equity fundraise in 2024.

Do you have the guts and confidence to put your prediction to the test? If you are, here is the challenge. The person who gets their prediction wrong ​agrees to stop posting here after 31 December 2024. I have the guts and confidence to accept the challenge. Are you? Please give me a simple answer: "Yes, I accept the challenge" or "No, I don't accept the challenge". We can then move on and let 31 December 2024 do the talking.

The Company is also currently evaluating downstream opportunities in the sector and will advise as and if opportunities arise." - its comments such as this and the numerous past failures and over optimistic comments that have taught me to take EVERYTHING the current BoD say with a huge pinch of salt. As I've already said - considering downstream when they haven't got upstream / mid-stream established is absolute tosh. Who the hell is going to invest time, effort and money prior to knowing what's coming out of the ground? The BoD know NOTHING about production, they don't know quality or quantity and certainly don't know dates when production may start. They don't know if their patch will even be financially competitive - they won't know that until production. No downstream company will be committing itself without knowing what it will have to pay for the product. If they do get this show on the road and it does prove to be financially viable (both ENORMOUS if's) then whatever company becomes upstream partner / owner will be deciding on where the product goes to and to whom. That won't be 80M's decision - now or whenever production may (or may not) start. Yet here we are with the BoD professing to be considering downstream uses - what complete and utter rubbish. Delusional.

Ashton - like you I fully expect / expected some news of Disko / Kobold in 2024; although more towards the back end of the year rather than your earlier speculations of August. Also like you I fully expect news of Disko to be the pre-cursor to a fund raise. You posted - "I suspect JAY will initially try to boost the share price with some solid news (Disko?) and then go for a capital raise." I agree - a fund raise will almost certainly follow news regarding Disko. The increasing delay of such news will now result in my guess (of another fund raise occuring in 2024) probably being a wrong call - my apologies. I might be proven to be a month or 3 premature in my estimate.

However, the fact that we haven't yet heard any 'solid' news for Disko I interpret as being an very ominous sign. As you have stated, 'The RNS made it clear that if 80M wants to drill Disko, the drilling equipment has to be secured by no later than December preceding the drilling season.' If they've yet to make any agreement with Kobold they most certainly won't know yet what equipment is likely to be required - are they to drill 1 or 15 holes? Or any? Have they secured any equipment? Will they secure such equipment within the next 12 working days? Will they now miss the 2025 season? Tick tock, tick tock.

Indeed Tony - that was my impression - went before being pushed. Waxing lyrical for so long about the supposedly fantastic Dundas must of upset a few people when it all turned out to be a bit of a dud. There were US finance and Sovereign funds all suckered in to the 'promise' of a 80-100 year mining potential of just having to scrape the sand from the beach. LOL. Those organizations won't like having egg on their face and won't forget the episode in a hurry - nor will any other interested observers.

The 'casserole' mix of today is unmanagable for such a small company whose past history will almost certain have alienated it from some sources of further funds - particularly when virtually the same BoD is at the helm.

All imho of course, and good luck to holders.

"I do my best here to keep people informed as best I can." If only it were that simple Ashton; such benevolence would be much appreciated. But alas, you far exceed that remit and ramp, ramp and ramp again. As an example you apologise for your over optimistic post suggesting an over optimistic time frame for Disko news. That wasn't the only recent post in which you assured readers of your over optimistic expectations.

1/7 - I am expecting an update on Disko this summer, possibly in the next four weeks.

8/7 - In response to a question I raised at the AGM held on 26 June 2024, we were told that KoBold and JAY were working on the terms for the revised agreement and that we could expect an announcement around 4 weeks.

To give credence to your wild speculations you inform -

30/9/24 - I am in regular touch with RM and occasionally with ES. I use my contacts with them for seeking and obtaining clarification and amplification on matters to do with 80M but also for sharing big-picture information.

A considerable portion of your speculative posts have proven to be erroneous - is that the fault of the BoD giving you duff information (wouldn't be the first time) or you embellishing facts to suit your own ramping agenda. Either scenario is contemptible.

Although you were again wrong with this speculative post (Jay did have a fund raise but no accompanying 'solid news' regarding Disko)

10/7 - I suspect JAY will initially try to boost the share price with some solid news (Disko?) and then go for a capital raise.

I do think that prophecy might be proven correct shortly. News about Disko is long overdue. Whether the news is good or bad for 80M shareholders the BoD are past masters at bigging up ANY scenario so I expect them to use ANY Disko news to 'support' a fund raise soon.

You use your intellect and remarkable ability to recall information to brow beat and try to put down posters who dare to oppose your opinion; you have stated on multiple occasions that you won't reply to my posts but yet you respond to virtually every one. To repeat your sentiment 'I do my best here to keep people informed as best I can.' I try to do likewise to counter your incredibly biased and over optimistic posts / opinion.

CC - I've previously replied (at length) to your question of why I do not contact the BoD, but in summary - it's utter folly to do so / proven past unreliability / won't make the slightest difference to my investment success. Still, if you believe ES that they can consider downstream operations at this stage of the game then I'm pleased for you. But of course, 80M are experts in the O&G industry and could be successful pioneers of such a unique approach to monetising O&G reserves. Dream on.

Tick tock - this from 8/10/24

"I had no idea of the subjects for the three RNS items or when they were going to come out except that the three items would come out first and then Disko. Now that we have had the three RNS items on the 9th, 23rd and 30th of September, I am expecting the next RNS to be the Disko update. I do not know when the update will be coming out but my guess is this month." Not sure what or who your source was Ashton but as usual it wasn't very reliable. Since those 3 rns items we have had another 3 or 4 RNS's - but NOT one relevant to Disko - and your expected time frame of Disko news by the end of October has long past. Tick tock ................

Tony - not a bad tune. I can't skate, terrible dancing and I haven't a clue what a Philly is :-)

Dear old dear Ashton, your fascination with whether or not I currently hold stock is unhealthy, for you own sanity let it go - you'll never know. How on earth do you infer that I have a current holding or not from the sentence "Unlike yourself (Ashton), I don't need the SP to multibag merely to break even."? I've already said I'm in profit on my dealings in Jay / 80M - so I am already ahead of breakeven. That situation is immaterial to whether or not I currently hold stock or not. Now do you get it?

Your desperation and bias has resulted in you suggesting that investors who might require the 'correct interpretation' of an RNS should contact the managing director responsible for issuing it. Really? Surely logic and common practice would dictate that investors should be able to rely on the correct phraseology (both 'conventionally and technically') being used by BoD members when they issue an RNS. It most certainly shouldn't be down to individual investors to seek interpretations of an RNS. But of course, as it's your beloved 80M you'll ignore that, make excuses, try to put a positive spin on yet another faux pas and ramp 80M again. Still, we do expect nothing less from you.

Tony, I'll keep it short and sweet. Such ludicrous and fanciful theories are the result of over imagination, and maybe desperation. They most certainly are not based on any facts. NOBODY knows exactly what's in the ground. NOBODY conclusively knows volumes. NOBODY knows qualities. NOBODY knows flow rates. NOBODY knows the economic feasibility. NOBODY knows what licences will ultimately be granted / denied. But establishing the answers to these important issues doesn't stop some dreamers suggesting that 80M are in a position to already be planning upstream activities / partners based on what any downstream activities / "consumer" may require.

Unbelievable, but most amusing all the same. Dream on.

Ashton, you must have posted 3 or 4 times to state that you won't reply / engage with me - yet here you are again. My, how predictable you are :-) You are correct - the entertainment value is great.

You've gone to great lengths to imply that the RNS in March '22 was a rushed decision and that was the cause of the debacle and reverse decision some 3 weeks later. I strongly disagree. The JV (with Kobold) was announced nearly 8 months prior to that date. That hardly counts as being a rushed decision. The BoD are supposed to be experts and should be up with their game - decisions on drilling campaigns shouldn't take nearly 8 months and then be found to be wanting / unachievable.

To promote your opinion you post about Kobold - '"We are thrilled to have Eric back at the Bluejay helm; he's a great technical operator, and with his leadership, we look forward to unlocking the full potential of our partnership." - RNS 29 April 2024. Er, well correct me if I'm wrong but since that epic quote Kobold have NOT drilled in 2024 and have now reverted to a 49% holding. The meaning of 'full potential' from Kobold's perspective is entirely different from that which 80M shareholders may be expecting. As I've posted previously I really don't think drilling in 2025 (if there is any) will be anywhere near the level previously agreed (and perhaps expected by some 80M holders) - I'd be very very surprised if $11.6m gets spent. 80M haven't got their half of that amount and don't look likely to be sourcing it anytime soon either. If Kobold take up the slack they will do so at a huge cost to 80M and it's shareholders - why on earth would they not take them to the cleaners? They are in the driving seat and 80M and its BoD are unloved (other than by you of course).

Now let's define clueless. I'm the one sitting on profit from my dealings in Jay / 80M - by your own admission, you are not. I don't brag / post about my buys or sells, unlike yourself. You've told us previously that you have lost a substantial sum on a core holding bought at an average of 9p - so that chunk is 97% down. Then you tell us of another large buy at 1.819 - so that's down 84%. At that time you even stated you must be mad - well, my friend, you have at least got that correct. I hope your most recent purchases were bought at a lower price then the now prevailing SP - but as we are near an all time low I very much doubt it. You require the SP to multibag from here just to break even. And here we are with the SP almost down to an all time low with a fund raise needed to keep the show on the road. From where I'm sitting I'm not the clueless one.

Ashton. Yes yes yes - that's a list of all the rudimentary things an exploration company has to put in place to do it's most basic task - it's raison d'etre - go and explore. So you've told us nothing! Then you add - 'We don't want another drilling debacle like what happened in 2022 by rushing things prematurely, do we.'.

So now you claim the poor performance of 2022 was because it was a rush job. That's a lame excuse and one I'venot seen used previously - by yourself or anyone else. Why compare 2025 to 2022? What exactly is rushed about 2025 - they've had nearly another 3 years in which to get their act together - hardly what one can call being rushed!

Are they Tony? Are you sure about that? The only news I can find about hydrocarbons (other than the pretty hollow claims of now being able to explore for them) is a report about them using an inappropriate device to report less than 0.1% concentration of hydrogen at near surface level - as I pointed out at the time a pretty useless piece of information gathered from a pretty useless test. So what other hydrocarbons have they pursued? Sure, they've acquired WFE and its licences but to chase hydrocarbons you need big bucks - ooops, 80M haven't got much money so there-in lies the problem. What cash they do have is needed to keep the lights on, for Disko and the many other opportunities this BoD keep going on about.

Once again they are talking the talk - but don't expect them to walk the walk - what have they achieved in the past several years of talking the talk? Enrichment for the BoD members but a 99% + share price decimation for shareholders. Sorry to blather on .................. :-)

Most unlikely and more fanciful dreaming I'm afraid. Amarok tell us exactly what the money is going to be used for - accelerate growth across their existing assets, there's no reference to aquisitions. Why would they wish to acquire any additional land from 80M, or anyone else for that matter? Just over a year ago they went on record as confirming they held the LARGEST licence holding of ANY mineral exploration company in Greenland and - "now holding under concession THE MAJORITY of the region's emerging IOCG and copper belt."

I'd have thought they've got plenty to be getting on with for a good many years yet. There's absolutely no rush for them to acquire any more land. They are more likely to build a war chest (from profits) before they start to look at acquisitions. Years / decades away if ever.

'The RNS made it clear that if 80M wants to drill Disko, the drilling equipment has to be secured by no later than December preceding the drilling season.'

Tick tock ..............................................

CC - you very much misunderstand my comments. I very much appreciate that such projects can't simply be put on ebay as you say. Far from it, such matters can and do take quite some time. Suitors have to do DD but well before that they will make very very sure of their target before showing the merest hint of interest in any aquisition (or merger / partnership). A reputable company with any hope of success will acquire an enormous amount of info (info that will be scrutinised by experts) long before they show their hand. They will look at how far any project (and company) is advanced, its geographical location, any existing finite data to indicate resource levels and the reliability and trustworthy of the existing BoD. For these reasons (and others) I am not hopeful that 80M will be able to sell anything anytime soon. Certainly not on eBay :-)

Continued...

PS - I think the claimed asset sales will prove to be a non-starter; but would be very happy to be proved wrong. They've gone nowhere in the last 2 years and during that time Jay / 80M's much diluted input into the 'resouces' they own has hardly set the world on fire with proofing up any commodities. All I see is a certain BoD member churning a small fraction of the profit they previously made on Jay back into the same company. As well as granting themselves huge share options in addition to organising the purchase of a related company. I see further share dilution and the imminent need for a fund raise. To get the raise away I expect them to announce they need the money to proceed with a drilling campaign in '25. I expect the drilling campaign to be much reduced from what we've been led to expect previously. But, as ever, this is all IMHO of course. I'll stick with my guess at a SP of 0.25p for the raise. What's your guess?

PS I'm not expecting a response from you and again wish you and all holders good luck with any investment in 80M.

Ashton, you write - 'and more recently KoBold’s findings of 7 high-quality priority targets …..'. Jay already had priority targets listed prior to Kobold coming on board. Which, if ANY, of the 7 targets referred to are actually new targets? I'm not sure there are any 'new' targets.

As to the rest of your post. As I've pointed out on numerous occasions previously; rather than address the topic of my post (as it counters your opinion) you choose to ignore the very pertinent point raised and attempt to deflect attention away. I point out that Jay / 80M have been stating that talks regarding asset sales have been ‘ONGOING’ (unsuccessfully I might add) for 2 years plus - your response is to refer to me as toxic and then refuse to address the matter. The reality of course is that you have no credible reply - you know the facts but ignore them as they don't align with your ramping.

Like it or not you most certainly are a ramper, distasteful as it is. From the Collins English dictionary definition of a ramping ‘to buy (a security) in the market with the object of raising its price and enhancing the image of the company behind it for financial gain’. That is definitely you. Not only do you inform us of your purchasers (repeatedly) you constantly promote Jay / 80M by relaying, repeating and EMBELLISHING pretty much any snippet of information you can find to put a positive spin on. You even go so far as to add some highly inappropriate strange little sayings to encourage others that good times are ahead. Why on earth would you consider yourself not to be a ramper? Do please enlighten us.

A hoodwinker attempts to trick or deceive. As I've illustrated previously your bias has resulted in you being very selective in the information you choose to post about Jay / 80M. This is a fine example amongst many. You know full well that such asset sale conversations have allegedly been ‘ONGOING’ (and UNSUCCESSFUL) for a considerable time yet you choose to ignore that inconvenient fact as it doesn't fit with your ramping narrative. Instead you infer that matters are imminent. You remain silent (even when asked for your comments) on such topics as a certain BoD member's past and present ‘colourful’ career, their MANY unachieved assurances (most of which you've posted enthusiastically about) and the value destruction at this and other companies while under their tenure. Ignoring pretty much anything negative about the company and its BoD you continue to faithfully relay, repeat and embellish info that suits your agenda. Does your perpetual 'selectiveness' make you guilty of deceit? Hmmm, let's just say that's debatable.

Continued...

Ashton, to support your never ending hope that asset sales may well save Jay / 80M from oblivion you again post - 'As for the sale of assets, I posted this on 8 Nov2024; "I understand from 80M the subjects of asset sales and the dialogue with European groups for funding (please see RNS on 13 August 2024) are.

I note that you have repeatedly made reference to these alleged sales, for example 7 months ago you posted this -'In fact, in this YouTube video interview dated 30 January 2023, Rod McIllree talks about ONGOING (my uppercase) sales conversations with potential buyers (at 18:45 mins) - https://youtu.be/i_9UOExW7Wc?t=1'.

So you have regurgitated RM's musing about asset sales for nearly 2 years - or more? Where are these sales? Looks to me like such assurances were BS, that or the alleged talks ended in failure - 2 years is plenty of time for a genuinely interested party to have progressed matters.

To add your own uppercase to stress this BS is starting to look like desperation - "PROGRESSING ALMOST EVERY DAY", yeah of course they are Rod / Ashton. Pull the other one, perhaps you think you can hoodwink us for ANOTHER 2 years.

Indeed, the management is not new. That together with the fact that they have a rather 'colourful' record of missed targets, failed deadlines, failed projects, not announcing share sales etc etc brings us back to a previous comment of mine - would 80M not be better off without the present incumbents?

Why thank you kind Sir. Flattery at this late hour? Have you been at the Malbec again :-)