Welcome to our dedicated page for 80 Mile PLC news (Ticker: BLLYF), a resource for investors and traders seeking the latest updates and insights on 80 Mile PLC stock.
80 Mile PLC (OTC: BLLYF) generates news across critical metals, industrial gases, energy and biofuels through its projects in Greenland and Italy. As an AIM, FSE and OTC-listed exploration and development company, its announcements often relate to joint ventures, drilling plans, portfolio transactions and progress on both mineral and energy assets.
Investors following 80 Mile’s news can expect updates on the Disko-Nuussuaq nickel-copper-cobalt-PGE project in West Greenland, where the company has identified multiple magmatic massive sulphide targets and entered into binding heads of terms with a U.S. partner to fund staged drilling in exchange for a majority interest. News from Disko frequently covers funding structures, operational roles, and technical details about targets and sampling results.
Another recurring news theme is the Dundas Ilmenite Project in northwest Greenland, described by the company as its most advanced asset with a JORC-compliant mineral resource and offshore exploration target. Releases may discuss permitting status, resource work and technical findings such as hard rock titanium mineralisation.
Energy and industrial gas developments at the Jameson project in East Greenland also feature prominently. 80 Mile has announced binding heads of terms with March GL Company for fully funded stratigraphic drilling, and news items outline the earn-in structure, planned wells and the basin’s potential for industrial gases, natural gas and liquids based on historical data.
In Italy, news often focuses on Hydrogen Valley and Greenswitch, including memoranda of understanding for biofuel supply and changes in 80 Mile’s ownership stake. Corporate updates may also cover asset divestments, such as the sale of the Kangerluarsuk project and the Finnish portfolio, as well as equity raises and strategic reviews. For a consolidated view of these developments, this page provides a central feed of 80 Mile PLC (BLLYF) news.
80 Mile (AMRQ) entered a Binding Head of Terms with USFM Corporation for US$30 million to earn 51% of the Disko-Nuussuaq project in West Greenland.
Key terms: 80 Mile to act as operator, a £500,000 signing cash payment, a 12.5% management fee on project spend, and US$10 million directed to drilling within 10 months. 80 Mile will be free-carried on its 49% until earn-in completion, then may contribute or dilute. Definitive agreements, Greenland government approvals, and shareholder consents are required; exclusivity runs until 1 May 2026.
80 Mile PLC (OTC:BLLYF) has announced two significant developments: an MOU between its subsidiary Greenswitch and Tecnoparco Valbasento, and an increase in its ownership stake in Hydrogen Valley to 49%.
The MOU with Tecnoparco involves the procurement of up to 40,000 tonnes per year of biofuel from Greenswitch for use in cogeneration units. This agreement would replace Tecnoparco's current palm oil imports, offering both cost savings and improved sustainability.
Additionally, 80 Mile has renegotiated the terms of its Stage 3 option in Hydrogen Valley, increasing its stake from 24% to 49%. The new terms eliminated share issuance and reduced cash consideration from £1 million to £380,000, which will be settled through a working capital loan novation. The company retains the option to increase ownership to 100% between December 2025 and December 2026.
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Bluejay Mining has mutually agreed with Towards Net Zero (TNZ) to terminate their equity subscription announced on February 14, 2023. TNZ made a prepayment of US$2 million for shares that will not be issued. Bluejay will repay the subscription amount today, thus releasing both parties from their obligations. The funds were intended for a maiden drilling program at Kangerluarsuk, which is still planned for the summer. Bluejay is exploring alternative financing plans to support this initiative.
No breach occurred between the parties, highlighting a cooperative resolution. The company continues to have significant projects in Greenland and Finland, including partnerships and a commitment of up to $37 million in exploration expenditure on three key projects.
Bluejay Mining plc has initiated a short follow-up drill programme at the Enonkoski Nickel-Copper-Cobalt Project in Finland, part of a Joint Venture with Rio Tinto. The current drill hole (ENON0029) will reach a depth of 400 meters, targeting pyroxenitic units for potential metal mineralization. Previous drilling revealed increasing nickel tenor and sulphide content, suggesting further exploration could uncover high-grade zones. The drilling operation is progressing effectively and under budget amidst high demand for rigs in Finland. Bluejay is committed to advancing its projects in both Greenland and Finland.
Bluejay Mining has reported promising results from the Enonkoski Ni-Cu-Co Project, following the first drilling program of 2023 in Finland. The drilling, conducted in January, involved two drill holes totaling 951.10 meters at the Laukunlampi target, discovering significant sulphide intervals. Notably, drill hole ENON0028 exhibited high nickel content, reaching up to 0.41%. The firm is utilizing ongoing geological and geophysical modeling to identify further drill targets, aiming to explore the potential for economic-grade mineralization. Bluejay's collaboration with Rio Tinto continues to enhance exploration efforts in this highly prospective area.
Bluejay Mining has released a strategic review led by Executive Chairman Robert Edwards, emphasizing a shift from a narrow project focus to a broader portfolio approach. The board has decided against a previously considered demerger of its subsidiary, Disko Exploration Ltd, believing it would not benefit shareholders. The company aims to enhance its project development strategy in Greenland and Finland, optimizing existing assets and introducing new opportunities. Notable projects include Dundas Ilmenite, Disko-Nuussuaq, and Kangerluarsuk, where substantial exploration activities are planned. A capital raise of up to $6 million is also announced for upcoming drilling programs.
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