Business
Final Results for the Year Ended 31 December 2025
80 Mile PLC reported final results for the year ended December 31, 2025, highlighting significant progress in its Greenlandic projects with over US$100 million in committed expenditure across Jameson and Disko, where the company holds free-carried interests of 30% and 49% respectively. An independent report estimates 13.03 billion barrels of un-risked prospective oil resources at Jameson. The company also raised £2 million in December 2025 to advance its Hydrogen Valley assets and completed the sale of its Kangerluarsuk project. Despite a consolidated loss of £33.1 million for the year, the company's cash and cash equivalents increased to £1.45 million, and it is actively pursuing strategic partnerships to further develop its project pipeline. Disclaimer*
About this update from 80 Mile Plc
[{"type":"text","content":"\n\n\n30 June 2026\nFinal Results for the Year Ended 31 December 2025\n80 Mile PLC ('80 Mile' or the 'Company'), the AIM, FSE, and OTC listed exploration and development company with projects in Greenland, Finland and Italy, is pleased to announce its final results for the year ended 31 December 2025.\nThe accounts will be distributed to shareholders tomorrow and will be available on the Company's website shortly.\n2025 Highlights\n· Agreements reached with US partners to drill the Jameson and Disko projects, with more than US$100 million of committed expenditure across the two projects over the next 18 months\n· Free carried across Jameson and Disko, with a 30% and 49% free carry interest respectively\n· Independent report by Sproule ERCE estimates 13.03 billion barrels (P10) of un-risked recoverable prospective oil resources across the upper levels of the Jameson Basin\n· £2 million raised in December 2025 to advance the development of the Company's assets held by its 100%-owned subsidiary, Hydrogen Valley\n· Sale of Kangerluarsuk project to Amaroq, reflecting the Company's ongoing strategy to monetise non-core assets\n· Appointment of Ingo Hofmaier as Non-Executive Director, further strengthening the Board of Directors\nPost Period Highlights\n· Exploration drilling at Disko is set to commence this week following the approval of the programme and the mobilisation of drill rigs. The programme was recently expanded from 5,000 metres (\"m\") to 9,000m\n· Greenland Energy Company, 80 Mile's JV partner for Jameson, commenced trading on NASDAQ (GLND) and subsequently raised US$70 million, with net proceeds to fund exploration and appraisal activities in the Jameson Land Basin\n· Received written guidance from Greenlandic regulator confirming that no third-party licence can be granted over the Company's concessions covering the Jameson Land Basin.\n· Awarded AIM Company of the Year at the 2026 Online Money Awards\nNotice of General Meeting\nThe Company announces that its General Meeting (\"GM\") will be held at 10:00 am on Wednesday 29 Ju...