LONDON - 80 Mile PLC (AIM:80M, FSE:S5A), a mining exploration and development company, announced Monday that all resolutions were passed at its recent General Meeting. This approval enables the company to increase its interest to 24% in Hydrogen Valley Ltd and its subsidiary Greenswitch srl. This move comes as part of 80 Mile's broader strategy to diversify its portfolio and expand its presence in sustainable energy sectors.
The company, with projects in Greenland and Finland, has been actively developing its holdings in critical metals and energy resources. The acquisition of a larger stake in Hydrogen Valley aligns with 80 Mile's commitment to sustainable energy solutions while continuing to explore for conventional energy resources.
80 Mile's Greenland portfolio includes the Disko-Nuussuaq nickel-copper-cobalt-PGE project, developed in partnership with KoBold Metals. The joint venture has identified seven priority targets within the project area that are indicative of potentially significant deposits. Ground-loop electromagnetic surveys are planned to further refine these targets.
In Finland, 80 Mile's subsidiary FinnAust Mining Finland Oy holds three multi-metal projects, including the Outokumpu project, which has shown occurrences of industrial gases like helium and hydrogen alongside copper-nickel-cobalt-zinc-gold-silver deposits.
The company's recent acquisition of White Flame Energy has expanded its portfolio into the energy sector, adding licenses for industrial gas, natural gas, and liquids in East Greenland. This acquisition was approved by shareholders in July 2024 and represents a strategic move to diversify 80 Mile's asset base.
Furthermore, 80 Mile's Dundas Ilmenite Project in northwest Greenland is fully permitted and advancing towards production, with a substantial Mineral Resource and an offshore Exploration Target (NYSE:TGT) that positions it to be a significant supplier of high-quality ilmenite.
The Thule Copper Project, another significant asset in northwest Greenland, is focused on high-grade copper deposits. With existing infrastructure and exploration credits, the project is well-placed in an underexplored region with considerable mineral potential.
The information regarding the General Meeting's outcome and the company's strategic developments is based on a press release statement from 80 Mile PLC.
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