Member Info for RachT2

Does this sound familiar to 80M holders? “a substantial body of historical exploration data supports the prospectivity of these areas for economically viable multi-level discoveries. This data gives (company name) a head start in rapidly defining drill targets and advancing potential resource estimates.” Sounds just like the story Jay / 80M keep telling us about Greenland right? Well this is from White Cliff Minerals own web site regarding projects in Canada - fancy that. You've got to hand it to Rod and Eric they sure do seem to have a knack for re-evaluating historical data and finding valuable resources and targets that were missed by a multitude of other experts that reviewed the same data previously. All the previous experts (and their companies) must be kicking themselves over missing such fantastic opportunities and resources.

The other common factor with 80M (other than the BoD) is that White Cliff Minerals share value is also down over 99%, share count has risen, RM is the biggest share holder and it's continually loss making. Of course, some people will try to tell both companies are in turn around as well - but I'm not sure about that, neither seem to have the necessary funds to progress anything. They've just had to go to Singapore to help raise funds / interest - looks like their home market doesn't want to stump up anymore cash.

Oh, and the code is WCN - not WCM as in Ashton's post.

My, how very benevolent of you Edwood, thinking of my well being and sanity - that makes the world of difference to me :-).

And likewise, good luck in your life and in your choice of investments. Looks like you'll miss seeing any more of my posts - and that does upset me :-)

Edwood - you are most amusing. Regarding my posts; you tell everyone else to ‘block and move on’ yet you yourself do not follow that advice. Not only do you read my posts but you then also broadcast them to a wider audience - thanks for that. The more people that get the message that most of the small companies jumping on the helium bandwagon are unlikely to succeed the better. You’re making the void smaller all the time ;-)

Well it doesn't look like any constructive replies will be forthcoming in response to the FACTS I posted about helium supply / demand issues. Oh no, it's far easier to simply denounce / ridicule someone as being a 'fruitcake'than to actually respond to the FACTS. For anyone interested in the likely supply / demand equilibrium for helium over the coming years the link below is a super read - and note that Qatar Helium 5 isn't even factored into the assessment. Also note, the article does not include ANY additional supplies from Greenland, Finland etc. Enjoy

https://www.nasco.ag/wp-content/uploads/2023/10/Gasworldcom_Helium_Report_2023.pdf

Tomhuk,

Would it not be better for all concerned if instead of taking every opportunity to have a pop at me personally with your mis-conceptions of me and you actually countered with some FACTS, figures and maybe your own estimations? Let's indeed be REALISTIC -

Can you show me a pre-feasibility study?

Can you show me ANY projections for the total amount needed to be invested by, let's say, MSMN or HEX to reach profitability from its supposed helium resource?

As helium 4 is now recognised to be OVER where do you think the helium price will go from here?

Do you dispute that LNG producers will be increasing their helium output over the next decade or more?

Are you concerned that one of the largest users of helium (MRI machines) are using less and less as newer technology reduces their demand for helium?

As always, appreciate your thoughts.

Tomhuk - you say -

‘How would any other producing or prospective/explorative helium company compete with that??’

Kerching. Kerching. Kerching. My point entirely. They can't compete. So who exactly are these companies you are referring to? Have ANY of them got a track record of profitably producing helium / hydrogen on a commercial scale? Clue - the answer is NO. All I see is little cash strapped minnows (just like 80M) jumping on the bandwagon that is the helium / hydrogen bubble. I find it amazing that you give any credence at all to whatever figure HEX may have conjured up for helium - dream on. Sure, there may be a tight market now but as I've pointed out that isn't going to last much longer.

Let's look at the opposing sides.

On the one hand we have an GROWING, ESTABLISHED, PROFITABLE industry with infrastructure, skills, employees, contacts AND contracts ALREADY IN PLACE producing helium as an adjunct to it's normal operations. It doesn't cost it ANYTHING to produce the helium - it merely has to store it and dispose of it; ideally at a profit. But note this - it's own future and livelihood DOES NOT depend on it selling helium at a profit. It's business is the growing market that is LNG.

On the other hand we have the new boys on the block trying to kid everyone that they will make a fortune in helium. How much dilution and loss of shareholder value will simply in the task of drilling / proofing up any deposits? Your own example, MSMN, has increased share count by 300% in this year alone and it's share price is in freefall. Just how far off even proofing up any deposits is MSMN exactly? How many years before it actually makes ANY profit (from helium or ANYTHING) - gosh, it's been loss making for so very long now. How much to build the infrastructure, source the man-power and skills? Etc etc etc. Anyone investing in HEX (or 80M or MSMN or …..) will obviously require a return on their investment - that adds even more to the end cost of producing their helium and will inflate the break even price they can run at still further. If you seriously believe HEX are giving a realistic price for helium you are deluded. How long before HEX will be producing? 5 years? 10 years? By which time there will be a lot more LNG producers out there pretty much all producing helium and able to undercut any of the new boys with ease.

Not so sure I'd rely on Reuters for your information though - that article you brought to our attention contained figures that were out by a factor of 35X. Might be worth finding another source?

But, of course, do feel free to continue to defend your position - I'd expect nothing less.

Hi Tom, thanks for your reply. Like most of such reports figures are vague and largely guess work and that Rueters report is particularly inaccurate / flawed. It states that, and I quote -

‘Global helium production averaged about 160 million cubic feet between 2019 to 2023,’

But then states -

‘In 2023, the estimated U.S. sales of grade-a helium and gaseous helium was an estimated 2.8 billion cubic feet.’

So it states that in 2023 the US alone accounted for helium sales of 17.5 X the global output? I don't think so do you? Which of their figures is inaccurate? Let's be generous and assume they actually meant to write that global helium production averaged about 160 million cubic metres, that is the more generally accepted figure.

I'd prefer to rely on scientific papers for info rather than the offerings of a journo. In such a paper written in 2022 global demand was expected to increase to 4bncf by 2040.

https://www.sciencedirect.com/science/article/pii/S2352484722000877

If the Rueters article is correct in the figure it gives for just the US in 2023 (2.8bncf) then that doesn't appear to be an enormous increase at all - in fact little or none as the Rueters figure accounts for the US only.

Now we can both provide numerous articles in support of our respective claims for future helium forecasts but the common theme of them all is recognition that the existing suppliers will increase their output. The US and Qatar will increase LNG production as will Canada and Russia. Just how do you think 80M / WF will compete with that?

On the 16th September Ashton complimented himself with this post -

“On 8 Sep 2024 at 21:49, I said: "As it happens, the next RNS will be a momentous and memorable event for 80 Mile as it will be the company's first in its new journey."

The very next day on 9 Sep 2024 we had an RNS on Outokumpu.”

But, alas, now for a reality check - the claimed Helium discover (or any other on 80M's acreage) WILL NOT be “a momentous and memorable event”, sorry but it'll almost certainly not make 80M any money, at least not until the world's supply and demand for LNG still exists. Indeed, the share price reaction since that news says it all - a 15+% drop. I've previously written about the likely difficulties, hazards and costs involved in producing white helium / hydrogen so won't repeat that here - needless to say they present a considerable challenge.

Helium is but a by product of the processes involved in supplying LNG - if you want LNG you will get helium. The demand for helium has stayed relatively constant but is expected to grow moderately as it is used in the manufacture of semi conductors. The present price spike has been the result of one or two producers ceasing production and because of sanctions in Russia. Hence a relatively tight global supply. However, the largest suppliers, Qatar, are soon to increase helium production facilities by 66% and the US is also expected to increase helium recovery. Canada has similar LNG plans as it sits on absolutely enormous reserves. Sanctions are unlikely to last for ever.

Given that for the LNG industry helium is but a necessary by product just how low a price can they drop to in order to get rid of it? Probably at or near to cost - which will surely be fairly low as the LNG plants are already up and running. I would speculate that such a price woukd low enough to make it uneconomic to fund, build and run those new plants that some people seem to think will pop up on 80M's sites.

Now, I might be wrong but ..............

Ben - agree with pretty much most of what you've said in both of your posts; balanced, knowledgeable and constructive as ever. Thanks for your replies. I agree with both you and Tom - any price between my expected 0.25 fund raise price and today's price could / should represent a punt with a good chance of making some money - if then selling out into the next inevitable price spike. You have managed to sum up my opinion of the present BoD very succinctly. I think they will use their combined experience to keep 80M alive (with an accompanying yo-yo SP) but may achieve little or no more - and shareholder value will ultimately deteriorate further. I think the best chances for 80M to really shine may only be met by having new people at the helm. There is an awful lot of history (both at Jay and other companies) that is far from being investor (be that PI or institutional) friendly. Even recently we have witnessed a lots of (unnecessary?) options granted to the BoD and a somewhat blatant display of selfishness being exhibited with the WF bail out - which, let's face it, Jay / 80M should of picked up for peanuts. No one else was interested in WF yet the BoD stuffed Jay / 80M shareholders for all that they could get. Not a good look.

Good luck with your punt.

For months prior to the last fund raise I repeatedly posted that a fund raise was imminent and estimated the price to be around 0.30p. I was spot on, and bullish posters were proven to be wrong. I also stated prior to the WF acquisition that it would cost Jay shareholders dear but that the BoD of WF (and hence Jay) would benefit hugely. I was again spot on. I'll try my hand for a third time - I expect a fund raise before the year is out and at around 0.25p. Why the reason for the reduced level I hear you ask.

What has 80M got to big itself up between then and now?

Everyone knows that 80M is very short of cash but needs a shed load of it going forward. Licence fees due by year end and a huge amount needed to match Kobold in next years drill - if it happens! And to fund ALL of the other fantastic projects we are regularly told about.

It needs the money very soon.

It has nothing worth selling as nothing has been proofed up. Yeah there's been talk of potential partners but then there's always been talk of partners, unfortunately that's all it's been - talk.

It's attempt to join the hydrogen / helium bandwagon has already been played, that SP spike has been and gone exactly as as it did for ALL the other juniors that tried that trick. A sure and steady fall. Tomhuk posted glowing comments about MSMN and about how 80M might replicate it's sp performance. MSMN has just announced another hugely dilutive fund raise adding around another 28% of shares - oh, and the at cost warrants to pay off SP Angel. Take a look at MSMN sp graph - unfortunately 80M will / does mirror it. MSMN share count has now increased by over 60x since 2018 and BY OVER 300% since LAST year alone. Unfortunately I think Tomhuk's comparison of 80M to MSMN is a very valid one and one 80M will follow.

It is still is a loss making company that needs ever more dilutive fund raises to even survive - let alone for it to ever become profitable.

Any takers?

Ashton - thank you for your reply. Unfortunately I note that as ever you have not addressed the main issue of my post but deflected attention again. To repeat,

ARE YOU GOING TO WITHDRAW YOUR CLAIM TO HAVE IDENTIDIFIED AN EX-EMPLOYEE OF JAY AS BEING A MEMBER OF THIS CHATROOM OR ARE YOU GOING TO POST FURTHER DETAILS IN SUPPORT OF YOUR CLAIM?

To do neither informs all that your claim was nothing more than a malicous, unfounded attempt to discredit posters that have an opposing view to your own. I will return to this matter should you not supply an adequate response.

As I've said previously; I like it that I may not fit into any stereotypes that some people try to put me in - surely that just shows a narrow mindedness on their part? Live and let live is my preferred philosophy.

Ashton appears to have somewhat of a problem with people he cannot stereotype and that (crucially) disagree with his ultra-bullish opinion. Such posters were named as 'altruists' or 'non-believers'. On the 25 April 2024 Ashton posted this -

'Among the non-believers, I have identified at least one poster who is an ex-employee of JAY but will not expose the person, at least not for the time being.' I suggest this is yet another desperate measure to again deflect attention away from the FACTS and is instead another vague groundless posting seeking to do nothing more than discredit those with an opinion contrary to his own. Ashton, you have now stated that you think I might be either a disgruntled ex-employee or the disgruntled partner of a disgruntled ex-employee. Yet more groundless and, quite frankly, pathetic assumptions on your part. You've now had an additional 5 months in which to thoroughly check and validate your previous claim that you've identified at least one poster as an ex-employee of Jay - unless that was a complete fabrication I suggest you either post their details or retract your ludicrous statement. Doing neither tells us all we need to know.

Of note, very few if any of the pertinent FACTS contained in my posts are ever disputed - instead a pattern of deflecting attention away from the burning questions and associated facts has emerged.

Wow, what an uncanny skill you possess Ashton - to predict there will be more RNS along SOON. So far this year Jay / 80M have released 37 RNSs - so that's an average of EXACTLY one per week. So absolutely anyone can predict news will be 'soon' (and on a WEEKLY basis) and appear to be as well informed and insightful as yourself. Of course, as is usual for you, you do not (and never have) elaborate on what sort of news will be arriving SOON and leave it to the readers' imagination. Trouble is that is exactly what anyone would do if I they were bluffing it and attempt to big themselves and the company up.

Until such time as you put some meat on the bones and foretell us of EXACTLY what news will be arriving SOON you are doing nothing more than posting absolute tosh. You are no more helpful than anyone else who posts a similarly

vague and all encompassing wild guess; the odds show such a wild guess will be correct on an almost weekly basis. Perhaps not such an uncanny skill after all?

Napthman1. Well if you say it often enough it will be true one day - what happened to your same prophecy 3 days ago? Or is it that you just work in a bakery? :-) What news are you expecting exactly?

I hope your guesses as to share price direction improve; your last one for GGP was particularly poor - 'a 10p rerate at open' since when it gradual fell to 5.25p. Please don't guess for 80M - you'll jinx it :-)

Apologies, I copied Tomhuk's link incorrectly, should be

https://www.80mile.com/regulatory-news

Oh dear. It might appear to some that 80M are using the recent name change as an opportunity to brush some items of unfavourable news under the carpet and hence under the radar. The bad news that Jay's largest shareholder has sold out completely WAS listed on the old Jay page (see the link kindly posted by Ashton - )https://bluejaymining.com/investors/regulatory-news/) but the same RNS is ABSENT from the 80M page supposedly listing the same Regulatory News (see link kindly posted by Tomhuk - https://www.80mile.com/regulatory-news).

Of course, it must just be a coincidence that 80M have "omitted" such an important item of news ;-)

And to repeat what Tomhuk has said - “New or prospective investors… Please be careful to check your sources on here “.

Hi again Tomhuk, about to vote out so short reply only

Flustered? Not a bit of it - you flatter yourself; I haven't changed my views or opinions or posts just because you are now posting.

Sandgrove - 'fuzzy'? It's only fuzzy if you haven't researched FACTS properly, why deflect your own inadequacy onto me? Look harder!

It's of no consequence to me whether you hold or not - but good luck with your investment.

'Trashing the company' - I don't consider myself to be trashing the company, I have made money from it in the past and hopefully will do so again in the future. I merely put FACTS out there in response to the multitude of bullish posts - make of that whatever you will.

I like that you can't pigeon hole, adds an air of mystique :-)

Continued...

What does it have that's fully proofed up and of any real value? If it has such great assets how come there isn't a queue knocking the door down to snap them up, after all, everyone knows Jay / 80M has been pretty desperate of late. An isolated Chinese company has been mentioned as being interested - ages ago and no mention since; not a murmer. 80M's assets really don't appear to be in much demand.

I still find it strange that despite a multitude of many varied international experts assessing historic data over many years it was somehow possible for the Jay team to reinterpret the exact same data and come up with the promise of new resources in economically feasible quantities. Astounding, even more so when one considers the fact that not long ago Jay sacked nearly all of its ‘experts’ as it desperately needed to preserve cash. How many ‘experts’ were actually still left at the company to come up with this astounding new discovery? Who were they? I think there's a good chance that they and the BOD are in fact the same people, wouldn't that be a surprise;-)

All the buzz surrounding helium / hydrogen doesn't go any way to explaining how 80M (or anyone else) will manage the logistics of extracting, treating, storing and shipping gas with the smallest molecule in the known universe. As I've explained previously, it is simply not currently a feasible (economically or otherwise) project to produce in a location as remote as Greenland. Maybe one day technology AND demand may surmount the hurdles - but how many decades away is that? I'm guessing not until 2050 when global demand is expected to be appreciably higher than now. But while timing is anybody's guess the one certainty is that helium / hydrogen isn't going to make 80M (or anyone else in Greenland) rich anytime soon.

As Ashton repeatedly states, and I agree, Disko is 80M's real ace - IF it is as good as they claim. But if it is why are Kobold dragging their feet and why have Kobold been prepared to loose their majority stake for a relatively miniscule $11.6m - things aren't adding up.

Hi Tomhuk / Mrgeeebeee

Sandgrove and M&G sales are common knowledge, obviously they now no longer appear on list of largest holders - might I be so bold as to suggest your research needs improving.

It is reassuring that you agree that Jay was poorly run - however, you have omitted the single most important fact; the present BOD is near identical to the BOD that ran Jay 'poorly' previously and saw a 90%+ drop in shareholder value. It certainly isn't a ‘new’ BOD as you infer. So far they appear to be acting in the same manner as when Jay was last in their tenure - oh dear.

MSMN was like every other company that joined the helium / hydrogen band wagon (see Pulsar etc) - a price spike followed by reality and the inevitable fall back in SP. 80M has had that price spike when it went to 0.70 on the back of claims about industrial gases - now the retrace back to reality. Sure, if you were lucky enough to trade the spike good money was to be made but how you go from that to claiming that MSMN is in turn around and a model of what 80M can do is (to put it mildly) pretty far stretched. Can you share with us what the delays affecting MSMN are that you refer to? I'm not aware of MSMN being in a position to monetise these gases anytime soon. All I see is a company continually making losses and one that has had a 26 fold increase in the number of its shares since 2018, and a 2 fold increase in the last years alone.

Regarding challenges currently faced by 80M I can't really offer much more to the posts and thoughts I've repeatedly voiced previously. If you want a help with insomnia do give them ALL a read :-)

By way of summary though I would consider

Where on earth are they going to get the huge amount of funding for ALL of the projects they claim to be undertaking? Strewth, just to match the amount Kobold expected to spend on Disko would be $5.8m, and that is needed by early next year at the latest! Then there's the licence fees due imminently. Then there's Dundas, and Jameson, and Outokumpu and and and ……..

Such projects need big backers - despite being repeatedly told they have interested parties they have yet to produce the goods. Jay's previous history must certainly be a factor that any reputable company will consider before it gets into bed with the company. Rio walked away, Jay turned down AA in favour of Kobolď (big mistake I reckon). Gov.t funds and one or 2 institutional investors have lost money getting involved with Jay previously -despite all of the ovdrly optimistic rhetoric issued by Jay over the years. It's largest holders have bailed. Now we see huge options being granted to the BOD and a ‘deal' for WF that values it at a crazy speculative figure - let's not loose sight of the fact that WF probably had little or no money left and would appear to have not been the target for any JV or other take over by ANY other company. Some perpetual bulls repeatedly refer to 80M selling assets as a source of funds - what assets would those

Well Tomhuk, there's no doubting your agenda - some quite bullish comments contained in your extensive posts. Alas, I think there are some matters that you may have excluded / glossed over to embellish your enthusiasm. Unfortunately you are copying and pasting codswallop, long term holders will be only too aware of the actual facts, facts that are unfortunately not alluded to in your posts. You say -

‘80M appear to be going through a major transition, with a huge BOD cull, appointment of a new CEO and NED's’. The reality is that the present BOD is near identical to the BOD prior to RE - the same BOD that saw a 90+% loss of shareholder value, the same BOD that repeatedly failed to deliver targets, dates, commitments made in RNS releases etc etc and the same BOD that repeatedly issues itself options. The same BOD that appear to have a track record for the desimation of share holder value while they were BOD members at other companies too.

‘cost streamlining’. That's one way to put it! The fact is they sacked virtually all of their experts as they had no money. Where are 80M now going to source ‘experts' to take forward ALL of their projects? I'd of thought that previous staff wouldn't touch them with a barge pole and, not unsurprisingly, I think you might find that they might also have chatted with any colleagues / associates about what a wonderful company Jay / 80M is to work for.

Well, you seem rather desperate if you need to polish MSMN to give credence to your ramp for 80M. MSMN has a price spike caused by a very questionable mention of helium in July. Since then the price is in a steady and continued decline and is already down around 35% in only a few weeks. That's on top of the 99.9% fall in the share price of MSMN. In that much at least it is similar to 80M.

‘Institutional Investors: Danish/Greenland Government, Sandgrove Capital, M&G’. Tomhuk, you really should check your facts before you post. Can you illustrate ANY Danish / Greenland Gov.t investment since they showed an interest into the failure that was Dundas? No you can't. Sandgrove sold out completely too - accepting a derisory price to offload their shares. I think you'll find M&G don't hold either.

‘Former JV with Rio Tinto’. Precisely, FORMER JV. Rio walked away - that's not something you want to shout about surely? What did Rio not like?

So you've regurgitated old and inaccurate news by copying and pasting, but you have failed to address any of the issues NOW threatening / facing 80M. It would appear that either your research has been somewhat lacking or you've simply chosen to embellish matters to suit your agenda - either way, that's not very reassuring.

As you yourselves have stated, and I would echo -

“New or prospective investors… Please be careful to check your sources on here “.