Street Calls of the Week
LONDON - Mining and energy company 80 Mile Plc (AIM:80M) reported a profit of £4.26 million for the first half of 2025, compared to a £2.01 million loss in the same period last year, driven by strategic acquisitions and asset restructuring.
The company increased its stake in Hydrogen Valley Ltd from 24% to 49% in July through renegotiated terms that reduced the cash consideration from £1 million to £380,000 and eliminated the need for new share issuance.
In Greenland, 80 Mile finalized a binding agreement with March GL Company for stratigraphic drilling at Jameson Basin, with March GL funding 100% of costs for up to two exploration wells while 80 Mile retains a 30% interest. The company also regained 100% ownership of the Disko-Nuussuaq nickel-copper-cobalt project.
At its Italian biofuels operation, Greenswitch completed plant upgrades and commenced a €1.9 million maintenance and commissioning program. The company also resolved a €12 million litigation claim against Greenswitch, clearing the path for further acquisitions.
80 Mile strengthened its balance sheet by divesting non-core assets, including the sale of its Kangerluarsuk zinc-lead-silver project to Amaroq Minerals for up to $2 million and the disposal of its stake in Metals One Plc for approximately £1.7 million.
Cash and cash equivalents stood at £1.07 million as of June 30, up from £637,822 at the end of 2024. The company reported that its Jameson Basin project has an implied valuation of approximately $92 million based on a recent transaction involving its partner March GL.
The financial results were reported in a press release issued by the company.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.