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Discover Latest #European Investment Bank News, Articles and Videos with Contenting
The European Investment Bank (EIB) is the largest multilateral lender and the long-term lending institution of the European Union (EU). Founded in 1958, the EIB is one of the world’s largest public lending institutions. The EIB provides financing for projects that support the economic development of the European Union and its member states. The EIB finances projects that are designed to promote European economic growth, reduce unemployment, and improve social and environmental standards. In addition, the EIB provides financial support to small and medium-sized businesses. The EIB also invests in projects that promote research, innovation, and education. The EIB is managed by the European Commission and is part of the EU’s budget. The EIB works closely with other financial institutions and national governments to support sustainable development. The EIB’s activities are supervised and regulated by the European Parliament and the European Central Bank. The EIB publishes news and articles regularly on its website and through its social media channels. These articles and videos provide information on the EIB’s activities, projects, and investment opportunities. They also provide insights into the European economy and the EIB’s role in it. In addition
Cornish Metals Releases Unaudited Financial Statements and Management’s Discussion and Analysis for the Three Months Ended 31 March 2025 - ForexTV
VANCOUVER, British Columbia, May 15, 2025 (GLOBE NEWSWIRE) -- Cornish Metals Inc. (TSX-V/AIM: CUSN) (“Cornish Metals” or the “Company”), a mineral exploration and development company focused on advancing its 100% owned and permitted South Crofty tin project in Cornwall, United Kingdom, is pleased to announce that it has released its unaudited financial statements and management, discussion and analysis (“MD&A”) for the three months ended March 31, 2025. The reports are available under the Company’s profile on SEDAR+ (www.sedarplus.ca) and on the Company’s website (www.cornishmetals.com). Highlights for the three months ended March 31, 2025 and for the period ending May 14, 2025 (All figures expressed in Canadian dollars unless otherwise stated) Strategic investment and fundraise (the “Fundraise”) (news releases dated January 28-31, 2025): The Fundraise totalling £57.4 million announced on January 28-31, 2025 was anchored by the National Wealth Fund Limited (“NWF”) and Vision Blue Resources Limited (“Vision Blue”), investing £28.6 million and £18.1 million, respectively, with a further £10.7 million from existing shareholders and new investors, including £1.4 million from a retail offer;The Fundraise is expected to provide financial runway through to the end of Q1 2026 and will enable the Company to further de-risk South Crofty and advance it towards a formal final investment decision; Senior management appointments (news release dated April 27, 2025): Strengthening of the project and operations teams at South Crofty with the appointments of Dave Howe as General Manager and Guillermo Alcaraz as Project Director;Mr. Howe has 35 years of open pit and hard rock underground mining (including narrow vein) operational and exploration experience, of which 24 years were in executive and senior management roles;Mr. Alcazar is a project executive with over two decades of global experience leading and overseeing a multimillion-dollar complex portfolio of mining, heavy industrial and infrastructure projects across diverse development stages; Purchase of 4.5 acres of land from Cornwall Council (news release dated April 1, 2025): The purchased land is immediately adjacent to existing surface land owned by Cornish Metals and provides direct access to the main road at Dudnance Lane from where a new entrance to the mine site is planned and where a new mine office, stores and workshop will be located. Mine dewatering and refurbishment of New Cook’s Kitchen Shaft: Refurbishment of New Cook’s Kitchen shaft (“NCK”) is progressing and has reached approximately 290 metres below surface. The water level in NCK shaft is currently at approximately 300 metres below surface;Progress during the period under review has been slower than in prior periods reflecting the staged maintenance of the submersible pumps in preparation for the next phase of dewatering. Dewatering is currently advancing at a rate of over 15,000 m3 per day and this will increase to approximately 25,000 m3 per day once maintenance is completed. Don Turvey, CEO and Director of Cornish Metals, stated: “We started the year on a strong note successfully completing the £57.4 million fundraise that was supported by existing and new shareholders, including Vision Blue and the UK’s National Wealth Fund. This funding will enable the Company to maintain its strong momentum and further unlock South Crofty’s potential by delivering important milestones expected in the coming year including advancing mine dewatering and shaft refurbishment, placing orders for long-lead items, the start of early project works and concluding the project finance process. We have also strengthened our project and operations teams at South Crofty with senior appointments to the roles of Project Director and General Manager who will be key to leading South Crofty through successful construction and to full production.” Financial highlights for the three months ended March 31, 2025 and March 31, 2024 Three months ended March 31, 2025 March 31, 2024 (Expressed in Canadian dollars) Total operating expenses3,189,723 2,759,198 Loss for the period3,043,606 2,561,669 Net cash used in operating activities(2,190,616) (1,148,564) Net cash used in investing activities(6,602,900) (7,895,388) Net cash provided by (used in) financing activities87,513,355 (85,646) Cash at end of the period88,954,141 17,015,749 Operating expenses have risen reflecting increased professional fees associated with more corporate activity as well as an increase in corporate remuneration due to bonuses following completion of the Fundraise;Project related expenditure of $5.3 million relating to the advancement of South Crofty, primarily relating to NCK shaft re-access & refurbishment, preparation for the refurbishment of the pump station at 360 metres depth and ongoing project engineering studies;Dewatering costs of $1.5 million for power, reagents, sludge disposal and maintenance of the water treatment plant (“WTP”);Receipt of $87.5 million in net proceeds from the Fundraise after repayment of the debt facility with Vision Blue which was settled through a set-off with the Fundraise; andCash increased by $78.7 million to $89.0 million at the period end due to the proceeds received from the Fundraise offset by ongoing development activities at South Crofty. Outlook As described above, the Company continues to advance and derisk South Crofty towards production. The Company’s near-term objectives are as follows: Complete dewatering of South Crofty mine and refurbishment of NCK shaft;Advance detailed project engineering studies;Place orders for long lead items of plant and equipment;Commence early project works, including initial construction of the groundworks for the processing plant; andArrange project financing for South Crofty. ABOUT CORNISH METALS Cornish Metals is a dual-listed mineral exploration and development company (AIM and TSX-V: CUSN) that is advancing the South Crofty tin project towards production. South Crofty: is a historical, high-grade, underground tin mine located in Cornwall, United Kingdom and benefits from existing mine infrastructure including multiple shafts that can be used for future operations;is permitted to commence underground mining (valid to 2071), construct a new processing facility and for all necessary site infrastructure;has a 2024 Preliminary Economic Assessment that validates the Project’s potential (see news release dated April 30, 2024 and the Technical Report entitled “South Crofty PEA”): US$201 million after-tax NPV8% and 29.8% IRR3-year after-tax payback4,700 tonnes average annual tin production in years two through sixLife of mine all-in sustaining cost of US$13,660 /tonne of payable tinTotal after-tax cash flow of US$626 million from start of production would be the only primary producer of tin in Europe or North America. Tin is a Critical Mineral as defined by the UK, American, and Canadian governments as it is used in almost all electronic devices and electrical infrastructure. Approximately two-thirds of the tin mined today comes from China, Myanmar and Indonesia;benefits from strong local community, regional and national government support with a growing team of skilled people, local to Cornwall, and could generate up to 320 direct jobs. The 2024 Preliminary Economic Assessment for South Crofty is preliminary in nature and includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorised as Mineral Reserves. There is no certainty that the 2024 Preliminary Economic Assessment will be realised. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. TECHNICAL INFORMATION This news release has been reviewed and approved by Mr. Stephen Holley, BSc (Hons), ACSM, MSc, MSCM, CEng MIMMM, Feasibility Study Manager for Cornish Metals who is the designated Qualified Person as the term is defined in Canadian National Instrument 43-101 and the AIM Rules for Companies, and a Competent Person as defined under the JORC Code (2012). Mr. Holley consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears. ON BEHALF OF THE BOARD OF DIRECTORS “Don Turvey”Don TurveyCEO and Director Engage with us directly at our investor hub. Sign up at: https://investors.cornishmetals.com/link/6eWEjP For additional information please contact: Cornish MetalsFawzi Hananoinvestors@cornishmetals.com Irene Dorsmaninfo@cornishmetals.com Tel: +1 (604) 200 6664 SP Angel Corporate Finance LLPRichard MorrisonTel: +44 203 470 0470(Nominated Adviser & Joint Broker)Charlie Bouverat Grant Barker Hannam & PartnersMatthew Hassoncornish@hannam.partners (Joint Broker)Andrew ChubbTel: +44 207 907 8500 Jay Ashfield BlytheRayTim Blythecornishmetals@blytheray.com (Financial PR)Megan RayTel: +44 207 138 3204 Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Caution regarding forward looking statements This news release may contain certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”). Forward-looking statements include predictions, projections, outlook, guidance, estimates and forecasts and other statements regarding future plans, the realisation, cost, timing and extent of mineral resource or mineral reserve estimates, estimation of commodity prices, currency exchange rate fluctuations, estimated future exploration expenditures, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, requirements for additional capital and the Company’s ability to obtain financing when required and on terms acceptable to the Company, future or estimated mine life and other activities or achievements of Cornish Metals. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “forecast”, “expect”, “potential”, “project”, “target”, “schedule”, “budget” and “intend” and statements that an event or result “may”, “will”, “should”, “could”, “would” or “might” occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this news release, are forward-looking statements that involve various risks and uncertainties and there can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to receipt of regulatory approvals, risks related to general economic and market conditions; risks related to the availability of financing; the timing and content of upcoming work programmes; actual results of proposed exploration activities; possible variations in Mineral Resources or grade; projected dates to commence mining operations; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; changes in national and local government regulation of mining operations, tax rules and regulations. The list is not exhaustive of the factors that may affect Cornish’s forward-looking statements. Cornish Metals’ forward-looking statements are based on the opinions and estimates of management and reflect their current expectations regarding future events and operating performance and speak only as of the date such statements are made. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward- looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements. Cornish Metals does not assume any obligation to update forward-looking statements if circumstances or management’s beliefs, expectations or opinions should change other than as required by applicable law. Caution regarding non-IFRS measures This news release contains certain terms or performance measures commonly used in the mining industry that are not defined under International Financial Reporting Standards ("IFRS"), including "all-in sustaining costs". Non-IFRS measures do not have any standardized meaning prescribed under IFRS, and therefore they may not be comparable to similar measures employed by other companies. The data presented is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS and should be read in conjunction with Cornish Metals’ consolidated financial statements and Management Discussion and Analysis, available on its website and on SEDAR+ at www.sedarplus.ca. Market Abuse Regulation (MAR) Disclosure The information contained within this announcement is deemed by the Company to constitute inside information pursuant to Article 7 of EU Regulation 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 as amended. CONSOLIDATED CONDENSED INTERIM STATEMENTS OF FINANCIAL POSITION(Unaudited)(Expressed in Canadian dollars) March 31, 2025 December 31, 2024 ASSETS Current Cash$88,954,141 $9,589,029 Marketable securities 3,078,376 2,874,696 Receivables 2,862,514 2,697,326 Prepaid expenses 673,554 504,902 Deferred financing fees - 637,718 95,568,585 16,303,671 Deposits 112,576 64,341 Property, plant and equipment 27,143,529 27,132,244 Exploration and evaluation assets 90,750,183 79,961,014 $213,574,873 $123,461,270 LIABILITIES Current Accounts payable and accrued liabilities$5,735,330 $4,045,083 Deferred income - 150,000 Loan liability - 13,457,169 5,735,330 17,652,252 NSR liability 9,826,144 9,869,289 15,561,474 27,521,541 SHAREHOLDERS’ EQUITY Capital stock 229,373,265 128,394,652 Capital contribution 2,007,665 2,007,665 Share-based payment reserve 1,604,784 1,353,933 Foreign currency translation reserve 11,528,569 7,640,757 Deficit (46,500,884) (43,457,278) 198,013,399 95,939,729 $213,574,873 $123,461,270 CONSOLIDATED CONDENSED INTERIM STATEMENTS OF LOSS AND COMPREHENSIVE INCOME (LOSS) (Unaudited) (Expressed in Canadian dollars) Three months ended March 31, 2025 March 31, 2024 EXPENSES Travel and marketing$205,667 $214,138 Insurance 179,920 203,063 Office, miscellaneous and rent 91,226 56,505 Professional fees 541,343 275,093 Generative exploration costs - 1,191 Regulatory and filing fees 30,398 29,265 Share-based compensation 162,617 123,799 Salaries, directors’ fees and benefits 1,978,552 1,856,144 Total operating expenses (3,189,723) (2,759,198) Interest income 133,582 265,666 Interest expense (486,337) - Foreign exchange gain (loss) 377,892 (18,900)Gain on receipt of non-refundable deposit 150,000 - Unrealized loss on marketable securities (29,020) (49,237) Loss for the period (3,043,606) (2,561,669) Foreign currency translation 3,887,812 1,413,937 Total comprehensive income (loss) for the period$844,206 $(1,147,732) Basic and diluted loss per share$(0.00)$(0.00) Weighted average number of common shares outstanding 665,925,628 535,270,712 CONSOLIDATED CONDENSED INTERIM STATEMENTS OF CASH FLOWS (Unaudited) (Expressed in Canadian dollars) For the three months ended March 31, 2025 March 31, 2024 CASH FLOWS FROM OPERATING ACTIVITIES Loss for the period$(3,043,606)$(2,561,669)Items not involving cash: Share-based compensation 162,617 123,799 Interest expense 486,337 - Foreign exchange (gain) loss (377,892) 18,900 Gain on receipt of non-refundable deposit (150,000) - Unrealized loss on marketable securities 29,020 49,237 Changes in non-cash working capital items: (Increase) decrease in receivables (91,322) 19,706 Increase in prepaid expenses (214,282) (16,527)Increase in accounts payable and accrued liabilities 1,008,512 1,217,990 Net cash used in operating activities (2,190,616) (1,148,564) CASH FLOWS FROM INVESTING ACTIVITIES Acquisition of property, plant and equipment (81,585) (2,369,406)Acquisition of exploration and evaluation assets (6,476,236) (5,525,982)Increase in deposits (45,079) - Net cash used in investing activities (6,602,900) (7,895,388) CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from the Fundraise 91,566,076 - Share issue costs (4,052,721) - Increase in deferred financing fees - (85,646) Net cash provided by (used in) financing activities 87,513,355 (85,646) Change in cash during the period 78,719,839 (9,129,598)Cash, beginning of the period 9,589,029 25,791,552 Impact of foreign exchange on cash 645,273 353,795 Cash, end of the period$88,954,141 $17,015,749 Cash paid during the period for interest$- $- Cash paid during the period for income taxes$- $- CONSOLIDATED CONDENSED INTERIM STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY(Unaudited)(Expressed in Canadian dollars) Foreign Capital stock Share-basedcurrency Number of Capitalpaymenttranslation Shareholders’ sharesAmountcontributionreservereserveDeficit equity – total Balance at December 31, 2023535,270,712$128,394,652 $2,007,665$711,690$1,369,146$(42,391,158)$90,091,995 Foreign currency translation- - - - 1,413,937 - 1,413,937 Share-based compensation- - - 178,149 - - 178,149 Loss for the period- - - - - (2,561,669) (2,561,669)Balance at March 31, 2024535,270,712$128,394,652 $2,007,665$889,839$2,783,083$(44,952,827)$89,122,412 Balance at December 31, 2024535,270,712$128,394,652 $2,007,665$1,353,933$7,640,757$(43,457,278)$95,939,729 Share issuance pursuant toFundraise717,143,367 105,361,387 - - - - 105,361,387 Share issue costs- (4,382,774) - - - - (4,382,774)Foreign currency translation- - - - 3,887,812 - 3,887,812 Share-based compensation- - - 250,851 - - 250,851 Loss for the period- - - - - (3,043,606) (3,043,606)Balance at March 31, 20251,252,414,079$229,373,265 $2,007,665$1,604,784$11,528,569$(46,500,884)$198,013,399
Tariffs Got You Down? Brush Off The 1930s Playbook
Now that Donald Trump has rendered irrelevant the iconic books that guided corporate thinking in recent decades — who still believes that the world is flat? — businesspeople are desperately casting about for guidance. In a recent column, I argued that US managers have much to learn from emerging markets. Today, I want to add that managers everywhere have much to learn from the interwar years.
First Trust Portfolios Canada Announces Cap, Buffer and Dates of May Buffer ETF - ForexTV
TORONTO, May 16, 2025 (GLOBE NEWSWIRE) -- FT Portfolios Canada Co. (“First Trust Canada”), announced today that the cap, buffer and dates for the next Target Outcome Period for the First Trust Vest U.S. Equity Buffer ETF – May (MAYB.F) (the “fund” or “May Buffer ETF”) are as follows: TICKERCAPBUFFEROUTCOME PERIODMAYB.F14.97% (Gross)10%20/05/2025 – 15/05/2026 The previous Target Outcome Period for MAYB.F concluded on May 16, 2025 and the upside cap for the new Target Outcome Period has been reset to prevailing market conditions. The fund seeks an outcome that provides investors with returns (before fees, expenses and taxes) that match the price return of the SPDR® S&P 500® ETF Trust (“SPY” or “underlying ETF”), up to a predetermined upside cap, while providing a buffer against potential SPY losses. The fund is managed and sub-advised by Vest Financial LLC (“Vest”) using a “target outcome strategy” or pre-determined target investment outcome. If an investor purchases hedged units after the first day of the Target Outcome Period, they will likely have a different return potential than an investor who purchased hedged units at the start of the Target Outcome Period and the buffer the fund seeks may not be available. First Trust Canada believes a buffer against a level of losses can help investors stay invested during volatile times. The fund offers a way to gain access to outcome-based investing—specifically to buffer against a level of downside risk while allowing growth to a maximum cap— eliminating bank credit risk, in a convenient, flexible investment vehicle. Karan Sood and Trevor Lack, of Vest, serve as a portfolio managers for the fund. The portfolio managers are jointly and primarily responsible for making investment management decisions for the fund. For further information: Media Contact: Nilesh Patel, FT Portfolios Canada Co., 40 King Street West, Suite 5102, email: nileshpatel@firsttrust.ca, 1-877-622-5552. About First Trust First Trust Canada is the trustee, manager and promoter of the fund. First Trust Canada and its affiliates First Trust Advisors L.P. (“FTA”), portfolio advisor to the fund, an Ontario Securities Commission registered portfolio manager and U.S. Securities and Exchange Commission registered investment advisor, and First Trust Portfolios L.P., a FINRA registered broker-dealer, are privately held companies that provide a variety of investment services. FTA has collective assets under management or supervision of approximately U.S.$259 billion as of March 31, 2025 through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds and separate managed accounts. For more information, visit www.firsttrust.ca. About Vest: Vest is the creator of Target Outcome Investments®, which strive to buffer losses, amplify gains or provide consistent income to a diverse spectrum of investors. Today, Vest’s Target Outcome StrategiesTM are available in mutual funds, exchange-traded funds (ETFs), unit investment trusts (UITs), collective investment trusts (CITs), and customizable managed accounts / sub-advisory services. For more information about Vest and the evolution of Target Outcome Investments, visit www.vestfin.com or contact Linda Werner at lwerner@vestfin.com or 703-864-5483. There may be commissions, management fees and expenses associated with ETF investments. ETFs are not guaranteed, their values change frequently and past performance may not be repeated. Please read the prospectus of the fund before investing. Contact FT Portfolios Canada at 1-877-622-5552 or visit www.firsttrust.ca to obtain a copy of the prospectus and ETF Facts for the fund. Important Information The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. Financial advisors are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients. First Trust Advisors L.P. is the portfolio advisor to the fund. First Trust Advisors L.P. is an affiliate of FT Portfolios Canada Co., the trustee, manager and promoter of the fund. Further information about First Trust Canada’s ETFs can be found at www.firsttrust.ca.
PNG Jewellers Targets 27–30% Value Growth In FY26
PN Gadgil Jewellers Ltd. is targeting an overall value growth of 27% to 30% in the current financial year, according to Chairperson Saurabh Gadgil. Once prices stabilise, the investment demand, which was primarily fuelled by the high rising prices, will move back to jewellery. "Jewellery volume growth would be, maybe, 15% to 16%. And I'm expecting 10% to 12% value growth. PNG Jewellers' consolidated net profit rose 13% to Rs 62 crore in the Q4 FY25 while revenue increased 5% to Rs 1,588 crore.
Are You Rich or Just Upper Middle Class? Here's The Net Worth And Income It Takes To Be Considered Wealthy
You might live in a 5,000-square-foot home in a gated neighborhood. You drive a luxury SUV, vacation somewhere new every summer — maybe Italy, maybe Bora Bora — and swipe your card at Whole Foods without ever checking the total. On paper, your life looks rich. But are you? That's where things get blurry. Because in today's economy, being rich isn't just about looking the part—it's about how your income and net worth stack up against everyone else. And depending on where you live and how you've b
First Gen eyes three more LNG cargoes this year - BusinessWorld Online
LOPEZ-LED First Gen Corp. is looking to secure at least three additional liquefied natural gas (LNG) cargoes this year to support the supply requirements of its gas-fired power plants in Batangas, its president said. “For the summer, the turnaround is somewhat quick. We’re still assessing it. Maybe before the year ends, maybe another three cargoes. […]
Why Selling Your Car Feels So Good (And Not Just Financially) - TechBullion
The decision to sell your car often begins as a practical consideration. Perhaps maintenance costs are mounting, or you’ve found yourself using it less frequently. Maybe your lifestyle has changed, or you’re simply ready for something new. Whatever the catalyst, “selling my car” is rarely just about the financial transaction; it represents a meaningful transition […]