80 Mile

80 Mile announced that managing director Eric Sondergaard will leave the company on 10 February 2026 and will remain available to the group in an advisory capacity for activities in Greenland. The search for a new CEO is "well advanced", and further information is expected in the coming weeks. 80 Mile focuses on the exploration of critical metals in Greenland (including Disko‑Nuussuaq and Dundas), also operates businesses for industrial gases and biofuels in Italy, and has recently expanded its energy portfolio through acquisitions; in partnership with March GL, two fully funded drilling programs are planned. » Więcej na de.investing.com

80 Mile said completions of the Greenland projects Jameson and Disko are delayed, in part because Pelican Acquisition’s takeover of March GL Company was pushed to December 2025 or January 2026 due to the US government shutdown and impaired SEC operations. The heads of terms with USFM for Disko still depend on a final contractual agreement and USFM securing financing. The company also disclosed a previously unreported transaction with related party USFM after Robert Price was considered a related person at the end of October; the board and the nominated adviser view the terms as fair. Upon completion, USFM and March could provide up to US$100m for drilling expenditures; drilling is scheduled to start in H2 2026 and heavy equipment has already been delivered. » Więcej na de.investing.com

Pelican Acquisition has signed a definitive merger agreement with Greenland Exploration; under the deal 80 Mile’s 30% stake in the Jameson project is valued at about $92m. The merged company will be renamed Greenland Energy Company and is expected to trade on NASDAQ under the ticker GLND. March GL will finance up to two exploration drill holes and, following closing, aims for an implied equity valuation of the company of around $337m; closing is expected in Q4 2025. » Więcej na de.investing.com