80 Mile (80M) H2 2025 earnings summary

Executive summary

• Secured over $100 million in committed US partner funding for Jameson and Disko projects, with 30% and 49% free carry interests, respectively, over the next 18 months.

• Completed strategic asset sales, including Kangerluarsuk, and acquired Hydrogen Valley, expanding into biofuels in Italy.

• Undertook significant restructuring, reducing staffing and overheads, and completed two successful fundraisings, including £2 million in December 2025.

• Achieved AIM Company of the Year award and strengthened the board with new appointments.

Financial highlights

• Group loss for the year was £33.1 million, up from £9.6 million in 2024, mainly due to £27.2 million in impairment charges.

• Net assets at year-end were £9.7 million, down from £33.0 million in 2024.

• Cash and cash equivalents increased to £1.45 million from £0.64 million year-over-year.

• Raised £2 million in December 2025 and realised gains from asset disposals, including £1.5 million from equity investments.

Outlook and guidance

• Drilling at Disko and Jameson to commence in 2026, with significant value creation expected from these campaigns.

• Hydrogen Valley biofuels plant in Italy is set to restart production, targeting revenue generation in the near term.

• Continued focus on partnerships, cost discipline, and portfolio diversification in energy, critical minerals, and industrial gases.