REG - 80 Mile PLC - Director Dealing

80 MileAnnouncement

20/12/2024 11:45

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RNS Number : 9609Q  80 Mile PLC  20 December 2024

 

 AIM: 80M

 FSE: S5WA

 

20 December 2024

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

Director Dealing

80 Mile plc ('80 Mile' or the 'Company'), the AIM, FSE listed and Pink-Market
traded exploration and development company with projects in Greenland and
Finland, 80 Mile plc, the AIM, FSE listed and OTCQB traded exploration and
development company with projects in Greenland and Finland, announces that it
was notified on 20 December 2024 that Director, Mr Roderick McIllree,
purchased 7,500,000 ordinary shares of the Company ("Ordinary Shares") at a
price of 0.002762 pence per Ordinary Share.

 

Following this purchase, Mr. McIllree's total beneficial ownership in the
Company is 133,665,935 Ordinary Shares, which represents approximately 6.4% of
the Company's issued share capital of 2,089,397,216 Ordinary Shares. Further
details on the purchase are included in the notification below.

 

Market Abuse Regulation (MAR) Disclosure

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 ('MAR') which has been incorporated into UK law by the
European Union (Withdrawal) Act 2018.

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 / Adam Cowl                 SP Angel Corporate Finance LLP   +44 (0) 20 3470 0470

(Nominated Adviser and Broker)
 Tim Blythe / Megan Ray / Said Izagaren  BlytheRay                        +44 (0) 20 7138 3205

(Media Contact)

 

 

Details of the person discharging managerial responsibilities/person closely
associated

 1.            Details of the person discharging managerial responsibilities/person closely
               associated
 a)            Name:                                                         Roderick McIllree
 2.            Reason for the notification
 a)            Position/status:                                              Director
 b)            Initial notification/Amendment:                               Initial notification
 3.            Details of the issuer, emission allowance market participant, auction
               platform, auctioneer or auction monitor
 a)            Name:                                                         80 Mile plc
 b)            LEI:                                                          213800E9AEFEHFLOVJ19
 4.            Details of the transaction(s): section to be repeated for (i) each type of
               instrument; (ii) each type of transaction; (iii) each date; and (iv) each
               place where transactions have been conducted
 a)            Description of the financial instrument, type of instrument:  Ordinary shares of 0.01p each

               Identification code:                                           GB00BFD3VF20
 b)            Nature of the transaction:                                    Purchase of ordinary shares
 c)            Price(s) and volume(s):

Price(s)    Volume(s)
                                                                             £0.002762   7,500,000

 
 d)            Aggregated information:

Price(s)    Volume(s)
               Aggregated volume:                                            £0.002762   7,500,000

               Price:
 
 e)            Date of the transaction:                                      2024/12/20

                                                                             8.39 am London time
 f)            Place of the transaction:                                     AIM

 

d)

Aggregated information:

Aggregated volume:

Price:

 

 Price(s)    Volume(s)
 £0.002762   7,500,000

 

e)

Date of the transaction:

2024/12/20

8.39 am London time

f)

Place of the transaction:

AIM

 

 

About 80 Mile Plc:

80 Mile Plc, listed on the London AIM market, Frankfurt Stock Exchange, and
the U.S. Pink Market, is an exploration and development company focused on
high-grade critical metals in Tier 1 jurisdictions. With a diversified
portfolio in Greenland and Finland, 80 Mile's strategy is centred on
advancing key projects while creating value through partnerships and strategic
acquisitions.

The Disko-Nuussuaq nickel-copper-cobalt-PGE project in Greenland is a
primary focus for 80 Mile, developed in partnership with KoBold Metals. 80
Mile, through its wholly owned subsidiary Disko Exploration Ltd., has a
definitive Joint Venture Agreement with KoBold Metals to guide and fund
exploration efforts. The JV has completed intensive analysis and
interpretation of the extensive geochemical, geophysical, and geological data
collected during the previous exploration campaigns. Leveraging KoBold's
proprietary artificial intelligence and machine learning platforms, this
comprehensive analysis has resulted in the identification of seven initial
priority targets within the project area. These seven priority targets exhibit
spatial characteristics indicative of potential deposits on a scale comparable
to renowned mining operations such as Norilsk, Voisey's Bay, and Jinchuan. The
JV is now planning a focused ground-loop electromagnetic survey to refine and
prioritise each locality appropriately.

In Finland, 80 Mile currently holds three large scale multi-metal projects
through its wholly owned subsidiary FinnAust Mining Finland Oy. 80
Mile's Finland portfolio includes the Outokumpu project, where the discovery
of industrial gases like helium and hydrogen adds significant economic
potential to the already prospective copper-nickel-cobalt-zinc-gold-silver
targets. 80 Mile is conducting further exploration to fully assess these
resources.

80 Mile's recent acquisition of White Flame Energy expands its portfolio into
the energy sector, adding large-scale licenses for industrial gas, natural
gas, and liquid hydrocarbons in East Greenland. Approved by shareholders
in July 2024, this acquisition diversifies the Company's assets and aligns
with its strategy to contribute to sustainable energy solutions, while also
exploring conventional energy resources.

The Dundas Ilmenite Project, 80 Mile's most advanced asset in
northwest Greenland, is fully permitted and progressing towards near-term
production. 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 mineralization, 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.

The Thule Copper Project is a significant component of 80 Mile's portfolio in
northwest Greenland, focused on exploring and developing high-grade copper
deposits within the Thule Basin in northwest Greenland. Leveraging existing
infrastructure and exploration credits, the project is strategically
positioned in an underexplored region with substantial mineral potential. 80
Mile's established basecamp at Moriusaq will support cost-effective
exploration, aligning with the Company's broader strategy to secure
high-quality copper and industrial gas projects.

 

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