Research Thread12 Sep 2024 18:41
Here is a Research Thread that appeared on Twitter this evening: https://x.com/RedditDeluxe/status/1834281773846458473
Other Points of Interest:
- Institutional Investors: Danish/Greenland Government, Sandgrove Capital, M&G
- 80M own 19% of AIM Listed Metals One #MET1 (62,500,000 shares) via the sale of 80M Subsidiary Finnaust Mining
- In December 2023 there was a major BOD change, including the appointment of a new CEO and the return of Rod McIIlrey as NED
- Major cost streamlining commenced with the team reducing in numbers from a bloated 12 to a more focussed 3
- Since their appointment the BOD have bought significant amounts of stock via 2x placings & in the open market & now have substantial "skin in the game" with 7.4% of the company between them
- Rod McIIlrey has taken 5.66% of 80M on his own having bought at 7 intervals in the last 10 months
- Recent rebrand, name change and pivot towards the #Helium and Hydrogen sector with high grades of 10.7% Helium flowing at the surface & 46% Hydrogen observed
- On initial helium findings the SP rose to 0.7p+ earlier in the year.
Conclusion:
Stock-picking a transformational recovery play is fraught with difficulty and will always garner derision from former, and even current investors, as of course one must initially find a prospect that is low on sentiment and may or may not have been the subject of poor management in the past. This was true of #MSMN when many identified it at a crossroads and bought in at 0.012p and watched it rise to 0.07p+ as it reshuffled, rebranded and pivotted toward #Helium.
I potentially see a similar story unfolding at #80M, a much-malligned stock that has experienced awful share price decimation due to poor management strategy, as well as other factors.
However, 80M appear to be going through a major transition, with a huge BOD cull, appointment of a new CEO and NED's, cost streamlining, their own diversification toward Helium and Hydrogen and a rebrand/name change.
I know, this won't immedietely shift sentiment to the positive (Investors have long memories), but it is a progressive start. As you will see from this research thread, the assets are extensive, diversified across many minerals/metals and gasses and are positioned in low-risk tier 1 European pro-mining jurisdictions, as well as being strategically located with access to the markets of North America & Europe.
The question is: Will 80M manage to pull of this turnaround and deliver value from these incredibly impressive assets? From todays MCAP of £6.6m I am hopeful.
(Aside from this concluding statement, everything in this thread is gathered from RNS's, company presentations and interviews.)
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