£30m Mcap is just far too low10 Sep 2025 18:33
80 Mile’s 30 percent stake in the Jameson oil project just got valued at a massive 92 million US dollars by NASDAQ-listed Pelican Corporation (PELI).
This is institutional-level validation — and then some.
To put this in perspective:
80 Mile PLC’s current market capitalization is only around 30 million pounds (approximately 37 million US dollars).
Yet their 30 percent Jameson stake alone is now valued at 92 million US dollars by Pelican.
March GL, a Texas-based oil company, is earning 70 percent of Jameson at a 215 million US dollar valuation.
That leaves 80 Mile holding 30 percent, valued at 92 million US dollars
.
March GL is funding 100 percent of drilling costs for two deep exploration wells of more than 3,500 meters each — giving 80 Mile a free carry.
The numbers are jaw-dropping:
More than 275 million US dollars already spent by oil majors, including ARCO.
Independent resource estimates suggest up to 40 billion barrels of oil equivalent.
Jameson is described as one of the world’s last great untapped oil occurrences.
Why this matters right now:
Greenland is in the geopolitical spotlight and recently described as the most valuable piece of land on Earth, both strategically and economically.
80 Mile is perfectly positioned as the only small-cap with exposure to Jameson, with drilling imminent.
Deal structure:
Pelican, Greenland Exploration Limited (GEL), and March GL will merge to form Greenland Energy Company.
The new NASDAQ ticker will be GLND, with the transaction expected to close in the fourth quarter of 2025.
The combined equity value is approximately 337 million US dollars.
80 Mile will have board representation through founder Rod McIllree.
Rod McIllree said:
“Our new partners are valuing this properly — unlike the overly cautious UK crowd.”
Translation: the 92 million US dollar valuation might just be the beginning.
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