28
October 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 28 October 2024 that Director,
Mr Roderick McIllree, purchased 8,000,000 ordinary shares of the
Company ("Ordinary Shares") at a price of 0.3038 pence per Ordinary
Share.
Following this purchase, Mr. McIllree's total
beneficial ownership in the Company is 126,165,935 Ordinary Shares,
which represents approximately 5.7% 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 or
contact:
|
Eric Sondergaard
|
80 Mile plc
|
enquiry@80mile.com
|
|
Ewan Leggat / Adam Cowl
|
SP Angel Corporate Finance LLP
(Nominated Adviser and Broker)
|
+44 (0) 20 3470 0470
|
|
Tim Blythe / Megan Ray / Said
Izagaren
|
BlytheRay
(Media Contact)
|
+44 (0) 20 7138 3205
|
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)
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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:
Identification code:
|
Ordinary shares of 0.01p each
GB00BFD3VF20
|
|
b)
|
Nature of the transaction:
|
Purchase of ordinary shares
|
|
c)
|
Price(s) and volume(s):
|
|
Price(s)
|
Volume(s)
|
|
£0.003038
|
8,000,000
|
|
|
d)
|
Aggregated information:
Aggregated volume:
Price:
|
|
Price(s)
|
Volume(s)
|
|
£0.003038
|
8,000,000
|
|
|
e)
|
Date of the transaction:
|
2024/10/28
8.30am 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.