80 Mile (80M) H1 2026 earnings summary

Executive summary

• Transitioned from explorer to diversified energy and resources group with three active platforms: hydrocarbon exploration, nickel-copper-cobalt-PGE drilling, and a biofuels plant in Italy.

• Achieved SEC approval and Nasdaq listing for Greenland Energy Company (GLND); raised $70 million for Jameson Land Basin drilling.

• Disko project advanced to drilling phase; Ferrandina biofuels plant secured key European sustainability certifications.

• Monetised non-core assets and maintained portfolio discipline; AIM Company of the Year award received.

Financial highlights

• Reported pre-tax loss of £1,464,625 for the six months ended 30 June 2026, compared to a loss of £452,107 for the same period in 2025.

• Net cash balance at 30 June 2026 was £285,941, down from £1,070,729 at 30 June 2025.

• Total assets at 30 June 2026 were £16.7 million; total equity £9.3 million.

• Non-repayable gain of £2.3 million recognised from USFM's pre-closing funding contribution for Nikkeli Project.

Outlook and guidance

• Key catalysts for the next twelve months: Disko drill results, Jameson drilling permit progress, Ferrandina commercial restart, and value realisation from Dundas and Finland assets.

• Board remains optimistic due to real assets, funded partners, and ongoing work.