80 MILE PLC

• ⚠

  Material uncertainty over going concern

  We draw attention to note 2.4 in the financial statements, which indicates that the group and parent company's ability to continue as a going concern is highly dependent on its ability to raise additional funds within the next twelve months from the approval of these financial statements. The outcome of this fundraise is contingent upon the appetite of investors and prevailing market conditions.

1. 80 MILE PLC 2024-08-28 → present
2. BLUEJAY MINING PLC 2017-03-10 → 2024-08-28
3. FINNAUST MINING PLC 2013-11-29 → 2017-03-10
4. CENTURION RESOURCES PLC 2011-12-02 → 2013-11-29
5. CHARLES STREET CAPITAL PLC 2010-05-11 → 2011-12-02
6. SWEET CHINA PLC 2005-03-24 → 2010-05-11
7. SWEET CHINA TRADING LIMITED 2005-03-11 → 2005-03-24

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

IFRS

Reporting scope

Consolidated group

Auditor

PKF Littlejohn LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“We draw attention to note 2.4 in the financial statements, which indicates that the group and parent company's ability to continue as a going concern is highly dependent on its ability to raise additional funds within the next twelve months from the approval of these financial statements. The outcome of this fundraise is contingent upon the appetite of investors and prevailing market conditions.”

Group structure

1. 80 MILE PLC · parent
   1. Centurion Mining Limited 100% · United Kingdom · Dormant
   2. Centurion Universal Limited 100% · United Kingdom · Holding
   3. Finland Investments Limited 100% · United Kingdom · Holding
   4. FinnAust Mining Finland Oy 100% · Finland · Exploration
   5. Disko Exploration Limited 100% · United Kingdom · Exploration
   6. Dundas Titanium A/S 100% · Greenland · Exploration

Significant events

• “During the period, key achievements included a successful fundraising, a corporate rebrand to 80 Mile Plc ('80M'), and a sharpened focus on industrial gases and hydrocarbons.”
• “The Jameson acquisition, a world-class, hydrocarbon-bearing undrilled basin on Greenland's east coast, is a cornerstone asset.”
• “The Company realised material returns through the sale of its stake in Metals One Plc and other non-core assets.”
• “80M transitioned to 100% ownership of Nikkeli and is progressing towards the restart of its biofuels facility in Italy.”
• “In January 2024, the Company completed a £1.2 million capital raise, with £150,000 contributed directly by incoming Board members.”
• “The appointment of Eric Sondergaard as Managing Director marked the beginning of a leadership transition aimed at stabilising operations and restoring technical and financial discipline.”
• “In February 2024, the Company terminated its Vice President of Exploration for gross misconduct following an internal investigation.”
• “The Company subsequently raised an additional £1.75 million via a placing in August 2024 and a further £1.5 million in December 2024, with the latter associated with the acquisition of a strategic interest in Hydrogen Valley Ltd.”
• “In April, the Company reinstated the 2019 Mineral Resource Estimate for the Dundas Ilmenite Project.”
• “In May, the Company secured approval to expand Mineral Exploration Licence MEL 2015-08 from 86 km² to 2,833 km².”
• “In July and September, 74 hard rock samples were reported to contain an average of 11.12% ilmenite.”
• “In May 2025, the company moved to 100% ownership of the project after KoBold Metals interest in the project reverted to 80 Mile.”
• “In April, the Company formally expanded its corporate strategy to include exploration and development of helium, hydrogen, and hydrocarbons.”
• “In July, the Company announced the discovery of significant concentrations of geological hydrogen and helium at the Outokumpu Project.”
• “Post year end, in March 2025, the Company sold FinnAust Mining Finland to Metals One Plc.”
• “In October, the Company confirmed the presence of natural hydrogen and helium at surface in the Hammaslahti licence area.”
• “In June 2024, the Company announced the conditional acquisition of a 51% interest in White Flame Energy Ltd.”
• “In December, the Company announced a strategic interest in Hydrogen Valley Ltd and its operating subsidiary Greenswitch Srl.”
• “On 13 January 2025, 80 Mile completed the acquisition of White Flame Energy Ltd.”
• “On 16 January 2025, 80 Mile acquired 24% equity interest in Hydrogen Valley Ltd Joint Venture.”
• “On 1 January 2025, the Group increased its ownership interest in the Nikkeli joint venture from 49% to 100%.”
• “On 19 March 2025, the Company announced the execution of a Share Purchase Agreement for the sale of its wholly owned subsidiary, FinnAust Mining Finland Oy, to Metals One Plc.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

15

last 12 months

Capital events

14

last 24 months

Officers appointed

1

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  —

  Not reported

• Cash

  +217.8%

  £200,700 → £637,822

• Net assets

  -16.3%

  £39,376,627 → £32,966,600

• Employees

  -50%

  14 → 7

• Operating profit

  -340.1%

  -£2,198,681 → -£9,676,595

• Profit before tax

  -411.1%

  -£1,870,717 → -£9,561,414

• Wages

  -31%

  £210,446 → £145,269

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers