REG - 80 Mile PLC - Board and Management Update

80 MileAnnouncement

17/11/2025 07:00

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RNS Number : 7575H  80 Mile PLC  17 November 2025

 

17 November 2025

80 Mile PLC / Ticker: 80M / Market: AIM / Sector: Mining

Board and Management Update

80 Mile plc ("80 Mile" or "the Company"), the AIM, FSE, and OTC.BLLYF listed
exploration and development company with projects in Greenland, Finland, and
Italy, would like to advise of forthcoming changes to its Board and senior
management team as the Company transitions into a free carried position across
its key projects, and prepares for the restart of the Ferrandina biofuels
plant in Italy.

Board Changes

The Company announces that Mr. Eric Sondergaard will step down from his
position as Managing Director of the Company. Subject to completion of funding
for USFM Corporation ("USFM"), it is expected that Eric will join the board of
US-based USFM in due course. Under the recently announced binding heads of
terms for an earn-in, USFM has agreed (subject to execution of definitive
agreements and other conditions) to invest US$30 million for 51% of the Disko
licences via Nikkeli Greenland A/S, a 100% owned subsidiary of 80 Mile.

The Board expresses its appreciation to Mr. Sondergaard for his leadership
through the recent complex corporate reorganisation and the strategic
realignment of the Company's portfolio. His contribution during this
transformative period has been instrumental in positioning 80 Mile for its
next stage of growth. The Board also acknowledges his commitment to ensuring a
seamless management transition and continued support through the handover
period.

Mr. Troy Whittaker, currently a Non-Executive Director, will immediately
transition to the role of Executive Director, reflecting his increasing
involvement in the Company's projects and operations. With over 20 years of
international project development and operation experience, he has been a key
contributor to the Company's strategic planning over the past year.

Management Appointments

Ms. Olga Solovieva has been promoted to Chief Operating Officer (non-Board).
Olga brings extensive technical and operational expertise from her career in
geoscience, project delivery, and strategic execution across international
energy ventures. Her leadership will be key as 80 Mile enters an active
development phase.

Following the Company's move to full ownership of the Greenswitch Facility in
Italy, Mr. Mark Frascogna has joined as Managing Director of Hydrogen Valley
(non-board of 80 Mile). Mr. Frascogna brings more than 20 years of experience
in industrial operations, energy infrastructure, and business development
across the Italian and European energy markets. His local insight and
operational background will be vital to advancing Hydrogen Valley towards
production and supporting 80 Mile's clean energy strategy in Europe.

Continuing Leadership

During the transition, Executive Directors Mr. Roderick McIllree and Mr. Troy
Whittaker will work closely with Olga, Mark, and the broader management team
to ensure the safe execution of upcoming drilling programmes at Disko and
Jameson and overseeing the restart of the Ferrandina Biofuels Plant on behalf
of 80 Mile.

These initiatives remain central to 80 Mile's near-term value creation and
overall operational strategy.

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR.

 

For further information please visit http://www.80mile.com
(http://www.80mile.com/)  or contact:

 

 Eric Sondergaard                                  80 Mile plc                          enquiry@80mile.com
 Ewan Leggat / Devik Mehta                         SP Angel Corporate Finance LLP       +44 (0) 20 3470 0470

(Nominated Adviser and Broker)
 Harry Ansell / Katy Mitchell / Andrew de Andrade  Zeus Capital Limited (Joint Broker)  +44 (0) 20 3829 5000
 Megan Ray / Said Izagaren                         BlytheRay                            +44 (0) 20 7138 3204

(Media Contact)

                                                                                        80mile@blytheray.com (mailto:80mile@blytheray.com)

 

About 80 Mile Plc:

 

80 Mile Plc, listed on the London AIM market under the ticker 80M, Frankfurt
Stock Exchange, and the U.S. OTC Market under the ticker BLLYF, is an
exploration and development company focused on high-grade critical metals in
Tier 1 jurisdictions. With multiple projects in Greenland, as well as a
developing industrial gas and biofuels business in Italy, 80 Mile offers both
portfolio and commodity diversification focused on base metals, precious
metals, and industrial gas while expanding into sustainable fuels and clean
energy solutions in Tier 1 jurisdictions. 80 Mile's strategy is centered on
advancing key projects while creating value through partnerships and strategic
acquisitions.

80 Mile's acquisition of White Flame Energy and the Jameson licenses in East
Greenland has positioned the Company in one of the world's most compelling
undrilled hydrocarbon basins. Under its agreement with March GL, drilling of
two fully funded wells is set to commence, with Pelican Acquisition
Corporation's merger with Greenland Exploration valuing 80 Mile's retained 30%
interest in Jameson at approximately US$92 million. This acquisition and
partnership significantly expand 80 Mile's exposure to the energy sector while
advancing its strategy of developing both conventional and sustainable energy
opportunities.

The Disko-Nuussuaq nickel-copper-cobalt-PGE project in Greenland is a primary
focus for 80 Mile, 100% owned by 80 Mile PLC. Seven priority targets
exhibiting spatial characteristics indicative of potential deposits on a scale
comparable to renowned mining operations such as Norilsk, Voisey's Bay, and
Jinchuan, will be advanced by the Company.

The Dundas Ilmenite Project, 80 Mile's most advanced asset in northwest
Greenland, is fully permitted with a JORC-compliant Mineral Resource of 117 Mt
at 6.1% ilmenite and an offshore Exploration Target of up to 530 Mt. Dundas is
poised to become a major supplier of high-quality ilmenite. Recent discoveries
of hard rock titanium mineralisation, with bedrock samples showing nearly
double the ilmenite content of previous estimates, further enhance the
project's world-class potential. 80 Mile owns 100% of the Dundas Ilmenite
Project under its subsidiary Dundas Titanium A/S in Greenland.

80 Mile PLC has executed an asset purchase agreement with Amaroq Minerals Ltd.
(AIM, TSXV, NASDAQ Iceland: AMRQ) to divest its 100% interest in the
Kangerluarsuk zinc-lead-silver project in Greenland. Under the terms of the
agreement, 80 Mile will receive US$500,000 in Amaroq shares upon completion,
with a further US$1,500,000 payable in cash or shares upon the discovery of an
economic deposit, defined by a JORC or NI 43-101 compliant resource that
supports development.

 

 

Forward-Looking Statements

This press release includes forward-looking statements that involve risks and
uncertainties. Forward-looking statements are statements that are not
historical facts. Such forward-looking statements, including with respect to
the initial public offering, are subject to risks and uncertainties, which
could cause actual results to differ from the forward-looking statements. No
assurance can be given that the initial public offering will be completed on
the terms described, or at all, or that the net proceeds of the offering will
be used as described in the offering prospectus. The Company expressly
disclaims any obligations or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein to reflect any
change in the Company's expectations with respect thereto or any change in
events, conditions or circumstances on which any statement is based.

 

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