80 Mile Plc (LSE:80M) has announced that Greenland Energy Company — created through the combination of Pelican Acquisition Corporation, Greenland Exploration Limited and March GL — is expected to begin trading on Nasdaq under the ticker GLND on or around 18 March 2026, subject to shareholder approval scheduled for 17 March. The planned listing is expected to increase visibility for 80 Mile’s Jameson hydrocarbon project in East Greenland, where Greenland Energy can earn up to a 70% working interest by funding two deep exploration wells, leaving 80 Mile with a retained 30% interest via its subsidiary White Flame Energy.
Covering approximately two million acres, the Jameson Basin is considered one of the largest undrilled hydrocarbon basins globally. An independent report by Sproule ERCE estimates gross unrisked recoverable prospective resources of 13.03 billion barrels of oil (P10), equivalent to around 3.9 billion barrels net to 80 Mile assuming the full earn-in is completed. Preparations for the first fully carried drilling campaign, targeted for the second half of 2026, are progressing, with key contractors including Halliburton engaged and logistics arrangements underway. Successful exploration results could represent significant value potential given the basin’s large-scale gas and liquids-rich targets.
The company’s outlook remains constrained by weak financial fundamentals, including the absence of revenue, widening losses, and continued cash burn, which heighten funding and dilution risks despite relatively low debt levels. Technical indicators remain supportive, showing positive momentum and a strong trend, although overbought signals suggest caution. Valuation remains difficult to determine due to negative earnings and the lack of dividend yield data.
More about Bluejay Mining
80 Mile Plc is an exploration and development company focused on hydrocarbons, high-grade critical metals projects in Greenland, and an industrial gas and biofuels business in Italy. Listed on AIM, Frankfurt, and the U.S. OTC market, the company pursues diversification across commodities and geographies while expanding into sustainable fuels and clean energy opportunities in Tier 1 jurisdictions.
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