80 Mile’s Greenland Partner Raises US$70m to Fund Drilling at Giant Jameson Basin

Bluejay Mining ( (GB:80M) ) has issued an update.

Greenland-focused explorer 80 Mile Plc, active in hydrocarbons, critical metals and clean fuels across Greenland and Italy, is advancing a diversified portfolio led by its Jameson Project in East Greenland, the Disko-Nuussuaq copper-nickel-cobalt play in West Greenland and the world-class Dundas ilmenite deposit. The company aims to build value through partnerships and farm-outs that secure substantial third-party funding while preserving meaningful project interests.

80 Mile said its Nasdaq-listed joint venture partner Greenland Energy Company has raised about US$70m via a share and warrant offering to fund exploration and appraisal at the Jameson Land Basin, one of the world’s largest undrilled oil and gas basins. Under their joint venture, GLND will fully fund two deep exploration wells from H2 2026 to earn up to 70%, leaving 80 Mile with a 30% interest in a basin independently assessed to hold 13.03 billion barrels (P10) of prospective oil resources, reinforcing Jameson’s standing as a major untested hydrocarbon province and materially advancing 80 Mile’s flagship project without diluting its balance sheet.

Spark’s Take on 80M Stock

According to Spark, TipRanks’ AI Analyst, 80M is a Neutral.

The score is held down primarily by weak financial performance (no revenue, widening losses, and ongoing cash burn), which increases funding and dilution risk despite low debt. Technicals are supportive with strong trend and positive momentum, but overbought signals temper the benefit. Valuation is difficult to assess due to negative earnings and no dividend yield data.

To see Spark’s full report on 80M stock, click here.

More about Bluejay Mining

80 Mile Plc is an exploration and development company listed on AIM in London, the Frankfurt Stock Exchange and the U.S. OTC market, with a portfolio spanning hydrocarbons and high-grade critical metal projects in Greenland and an industrial gas and biofuels business in Italy. The company pursues portfolio and commodity diversification across hydrocarbons, base and precious metals, and sustainable fuels, with flagship assets including the Jameson hydrocarbon basin in East Greenland, the Disko-Nuussuaq nickel-copper district in West Greenland, and the high-grade Dundas ilmenite project on Greenland’s northwest coast.

Average Trading Volume: 69,811,763

Technical Sentiment Signal: Hold

Current Market Cap: £43.78M

For a thorough assessment of 80M stock, go to TipRanks’ Stock Analysis page.