80 Mile (80M) H1 2025 earnings summary

Executive summary

• Completed transformational acquisitions, including White Flame Energy (96.64%) and expanded Hydrogen Valley stake to 24% during H1 2025, later rising to 49% post-period.

• Monetised non-core assets, including Kangerluarsuk and Finnish copper projects, strengthening liquidity.

• Resolved major litigation, secured key permits, and advanced commissioning at the Ferrandina biofuels plant.

• Regained 100% ownership of Disko-Nuussuaq and secured a fully funded drilling partnership at Jameson Basin.

Financial highlights

• Revenue for H1 2025: £6,492,066, up from £0 in H1 2024.

• Operating profit: £5,586,640 (H1 2025) vs. loss of £1,961,713 (H1 2024).

• Net profit attributable to owners: £4,257,758 (H1 2025) vs. loss of £2,012,224 (H1 2024).

• Cash and cash equivalents at 30 June 2025: £1,070,729, up from £224,980 at 30 June 2024.

• Net assets at 30 June 2025: £42,393,952, up from £37,951,225 at 30 June 2024.

Outlook and guidance

• Focus remains on advancing core Greenland and Italian projects, with disciplined capital allocation.

• Ferrandina Plant commissioning and ramp-up to continue through H2 2025, supported by new supply and offtake MOUs.

• Jameson Basin drilling fully funded by March GL, with operations expected to commence in 2026.

• Ongoing efforts to optimise portfolio and secure additional financing.