Greenland-linked U.S.-listed shares surged in premarket trading, with Greenland Energy jumping as much as 150%, Greenland Mines up more than 80% and Critical Metals Corp. nearly 25%. The rally followed a U.S.-Denmark-Greenland security pact aimed at expanding the military presence on the Arctic territory and preventing U.S. adversaries from establishing bases there.
80 Mile PLC (AIM:80M, OTCQB:BLLYF) shares climbed after Greenland Energy agreed indicative terms for a £61.48 million all-share acquisition. 80 Mile shares rose 7% to 0.80p, remaining below the approximately 1.1p implied in the proposed acquisition.
80 Mile PLC (AIM:80M, OTCQB:BLLYF) announced it has agreed indicative terms for a £61.5 million all-share takeover by Nasdaq-listed Greenland Energy Company, with the proposed 1.1p-per-share valuation representing a 46.7% premium to 80 Mile's closing price immediately before the offer period began. The deal will consolidate interests in Greenland's Jameson Land Basin into a single Nasdaq-listed vehicle, while adding 80 Mile's wider portfolio of critical-minerals and industrial-gas assets.
80 Mile PLC (AIM:80M, OTCQB:BLLYF) told investors that drilling at its Jameson Land Basin project in East Greenland will be delayed, with regulators currently guiding towards winter 2027 rather than the previously targeted 2026/27 winter season. The company said the slippage reflects the time required to complete permitting and regulatory approvals and does not represent a change in its plans for Jameson.
Greenland Technologies (GTEC) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
Robert Price, CEO of Greenland Energy (GLND), joins Trading 360 after the company began public trading this week. He says the U.S. and European allies need to "look beyond the Strait of Hormuz" for crude oil as his company begins to drill oil wells in Greenland.
80 Mile PLC (AIM:80M, OTCQB:BLLYF) shares climbed, rising around 10% to 1.23p, as the helium firm's Jameson project saw an implied valuation of some $148 million, as partner Greenland Energy Company began trading on NASDAQ (under the ticker GLND). GLND ended its debut day, Thursday 26 March, with a market capitalisation of US$345 million.
President Donald Trump told CNBC that mineral rights are part of the Greenland deal framework that he announced this week in Davos, Switzerland. Trump says he wants to block China's and Russia's ambitions in the Arctic.
The situation over in Greenland caused a bit of a market shock on Tuesday, with just about everything marching lower over fears of tariffs and related uncertainties.
Jim Wyckoff has spent over 25 years involved with the stock, financial and commodity markets. He was a financial journalist with the FWN newswire service for many years, including stints as a reporter on the rough-and-tumble commodity futures trading floors in Chicago and New York.
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