Norway Survey Shows Firm Activity, Backing Autumn Rate Cut Plan
A key survey of Norway's business sentiment showed companies expect growth to remain stable this quarter and the next, largely backing the case for monetary easing later this year.
Output is forecast to rise 0.4% in the third quarter after a similar expansion in the April-to-June period, Norges Bank said in a statement on Thursday, citing its regional network contacts. The estimate for the current quarter matched projections in the previous survey.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
UK economy grew by 0.7% in first quarter, statistics office says
LONDON (Reuters) -Britain's economy expanded 0.7% in the first three months of 2025, the Office for National Statistics said on Monday, confirming a preliminary estimate. (Writing by William Schomberg; Editing by Sachin Ravikumar)
Associated Press
an hour ago
- Associated Press
Aker Solutions and Cognizant Renew Collaboration to Drive IT Transformation with AI-First Approach
The new agreement seeks to modernize Aker Solutions' IT infrastructure using AI platforms, including Cognizant Neuro® platform. OSLO, Norway, June 30, 2025 /PRNewswire/ -- Cognizant (Nasdaq: CTSH) and Aker Solutions, a global leader from Norway in the energy industry, have extended their long-lasting partnership, which began in 2016, with a new multi-year agreement. Using the Cognizant Neuro® platform, designed to boost generative AI adoption with flexibility, security, scalability, and responsibility, this agreement aims to transform Aker Solutions' IT service delivery, making it more agile and efficient for the evolving energy sector. Under the new agreement, Cognizant has introduced a transformation roadmap that focuses on upgrading current services without disrupting stable operations. Using the latest technology and AI platforms, Cognizant aims to modernize Aker Solutions' IT operations and projects, including cloud services, IT infrastructure, application management, networks, and cybersecurity. This transformation is expected to enhance the end-user experience while leveraging AI and machine learning to better protect Aker Solutions' critical data and infrastructure. Additionally, with the implementation of a scalable and flexible consumption-based commercial model, Cognizant aims to increase overall agility, enabling Aker Solutions to adapt quickly to changing market demands. 'This agreement supports Aker Solutions' digital journey, aligning with our strategy to leverage digitalization to increase value creation and reduce costs across the entire project lifecycle', said Signy Vefring, Executive Vice President for Strategy and Technology at Aker Solutions. 'I'm excited to take our partnership to the next level and to equip our organization with the tools and infrastructure needed to stay at the digital forefront of our industry', said Ingvild Berlin Kalleberg, Chief Information Officer at Aker Solutions. 'I look forward to the continued collaboration with Aker Solutions. By leveraging the Cognizant Neuro® platform, we aim to enhance innovation across Aker Solutions' IT operations, reinforce our shared commitment to digital transformation, and further advance technology-driven outcomes for the energy sector in Norway and beyond', said Saket Gulati, Head of Northern Europe at Cognizant. 'We are excited to continue this renewed collaboration with Aker Solutions. This is a testament to the successful relationship and the positive outcomes we have delivered over the past nine years,' said Knut Inge Buset, Head of Norway at Cognizant. 'Today, there is increasing reliance on new energy sources, along with a growing need for improved efficiency. This requires unprecedented operational agility within the energy and utilities sector, and investment in digital has become a vital component for many traditional operators and new entrants alike.' About Cognizant: Cognizant (Nasdaq: CTSH) engineers modern businesses. We help our clients modernize technology, reimagine processes, and transform experiences so they can stay ahead in our fast-changing world. Together, we're improving everyday life. See how at or @cognizant. About Aker Solutions: Aker Solutions delivers integrated solutions, products and services to the global energy industry. We enable low-carbon oil and gas production and develop renewable solutions to meet future energy needs. By combining innovative digital solutions and predictable project execution we accelerate the transition to sustainable energy production. Aker Solutions employs approximately 11,800 people in more than 15 countries. For more information, contact: For more information about Cognizant and for media enquiries, please contact [email protected] View original content to download multimedia: SOURCE Cognizant Technology Solutions
Yahoo
an hour ago
- Yahoo
Metals One PLC Announces Final Results
Metals One Plc("Metals One", the "Company" or the "Group") Final Results for the Year Ended 31 December 2024 LONDON, UNITED KINGDOM / / June 30, 2025 / Metals One Plc (AIM:MET1), a minerals exploration and development company, announces its results for the year ended 31 December 2024. The full annual report and accounts is available to view on the Company's website at and will soon be posted to shareholders along with a Notice of Annual General Meeting ("AGM"). Highlights Finland - Black Schist Project (nickel, copper, cobalt, zinc) Expanded total Black Schist Project resource to 57.1Mt in July 2024 - more than double the previous estimate - with contained metals of 105.8kt Ni, 51.9kt Cu, 6.9kt Co, and 276kt Zn Instructed independent consultancy Wardell Armstrong International to carry out a Preliminary Economic Assessment ("PEA") for the project The PEA, published after year-end, in January 2025, demonstrated that, although it was undertaken at a time of weak nickel prices and inflated input costs, the project is highly leveraged to rising commodity prices Norway - Råna Project (nickel, copper, cobalt) Drilling in 2024 intercepted new zones of nickel-copper mineralisation, further demonstrating the Råna Intrusion's scale potential Post Period End Highlights New Projects Metals One is utilising new funding closed in April 2025 to rapidly expand its project portfolio and commodity exposure, with a particular focus on copper, nickel, cobalt, zinc, uranium, vanadium, gold, and platinum group elements ("PGE") Hammaslahti & Outokumpu Copper Projects, Finland Announced in April 2025 the execution of a Share Purchase Agreement in respect of the acquisition of the Hammaslahti Copper-Zinc Project and Outokumpu Copper Project in Finland, which are both associated with former operating copper mines Put out a tender for a drilling contractor to provide services for a 2,000m, 10-hole diamond core drill programme at the Hammaslahti Project Lillefjellklumpen PGE-Gold-Nickel-Copper Project, Norway Announced in May 2025 the potential acquisition of the Norway project, introducing platinum and palladium into Metals One's portfolio Squaw Creek Uranium Project, Wyoming & Uravan Belt Uranium-Vanadium Project, Colorado, USA Executed a Share Purchase Agreement in May 2025 in respect of the proposed acquisition of two U.S. uranium and vanadium exploration projects Initiated Phase 1 exploration work at both projects in anticipation of completion of the acquisition Swales Gold Property, Nevada, USA Announced in May 2025 an exclusive term sheet for the conditional acquisition of an exploration lease over the Swales Gold Property in Nevada, USA, which is located within the prolific Carlin Gold Trend Craig Moulton, Chair of Metals One, commented: "The Metals One of today is a markedly more diversified company than it was in the year under review. The completion of an equity fundraise in April 2025 has provided Metals One with the opportunity to diversify its portfolio and leverage its technical expertise and financing to undertake near-term, high-impact exploration programmes targeting an expanded range of critical and precious metals. We have wasted no time in pursuing the acquisitions in Finland, Norway and the USA of copper projects, uranium projects, a gold project, and a platinum group elements project. These potential acquisitions align with Metals One's strategy to diversify and strengthen its asset portfolio, both in terms of geography and type of mineral, enabling us to broaden our mix of commodities to include more critical minerals essential to the energy transition, as well as precious metals underpinned by record high commodity prices. I am very much looking forward to advancing exploration on our new projects and to reporting on progress as they develop." Financial Statements and Notes to the Accounts For access to the full Financial Statements and Notes to the Accounts for the year ended 31 December 2023, please click on the following link: Extracts follow below. SOURCE: Metals One PLC Chairman's Statement I am pleased to present my first Metals One annual financial report since I transitioned from Independent Non-Executive Director to Independent Non-Executive Chair in April 2025. This report is for the year ended 31 December 2024. The Metals One of today is a markedly more diversified company than it was in the year under review. The completion of an Equity Fundraise in April 2025 has provided Metals One with the opportunity to diversify its portfolio and leverage its technical expertise and financing to undertake near-term, high-impact exploration programmes targeting an expanded range of critical and precious metals. Review of 2024 Operations Black Schist Ni-Zn-Cu-Co Project, Finland (Metals One: 93.75% - Operator) The Black Schist Project comprises several exploration licences and reservations across the Kainuu Schist Belt which is the host geological sequence to black schists extracted by Terrafame's nearby Talvivaara mine, considered to be one of Europe's largest nickel-zinc-copper-cobalt producers. The strategy for the Black Schist Project is for the Company to show a clear path to the economic extraction of its assets. This includes a longer-term ambition of potentially defining a 200 Mt resource, the scale of which could underpin a significant supply of critical minerals to the European market from within the continent. Following exploration activities, including new drilling and the re-assaying of historical core samples, Metals One was able to announce in July 2024 the expansion of the total Black Schist Project resource to 57.1Mt - more than double the previous estimate - with contained metals of 105.8kt of nickel, 51.9kt of copper, 6.9kt of cobalt, and 276kt of zinc. This was a catalyst for the Company to instruct Wardell Armstrong International, part of Wardell Armstrong LLP, a long-established, independent British engineering and environmental consultancy, to carry out a Preliminary Economic Assessment ("PEA") for the project. The PEA, published after the period under review, in January 2025, demonstrated that, although it was undertaken at a time of weak nickel prices and inflated input costs, the project is highly leveraged to rising commodity prices. Considering demand for battery-grade nickel is forecast to triple by 2030 and that producing the metal domestically within the EU becomes an ever more critical goal, I believe Metals One is sitting on valuable assets here, in a quality mining jurisdiction. This offers excellent future optionality against a realistic background of depressed nickel pricing and global cost inflation. Råna Nickel Project, Norway (Metals One: 39%) The Råna Nickel Project sits within the Råna Intrusion and is considered analogous to Voisey's Bay (Canada), a world-class Ni-Cu-PGE deposit. The project encircles the previously producing underground Bruvann Mine and is largely underexplored. It benefits from a deep-water port and low-cost green power and is ideally located to supply to Europe's major EV car manufacturers. Metals One's interest in the Råna Project is owned through a joint venture agreement with Kingsrose Mining (ASX: KRM), the Operator of the project. Kingsrose has a right to earn up to 75% over eight years through staged expenditure of up to A$15 million (currently at 51% after completing 5,000m drilling in accordance with the terms of the agreement). Metals One is fully carried. Drilling in 2023 identified multiple high-priority targets as well as new zones of nickel sulphide mineralisation, while drilling in 2024 intercepted new zones of nickel-copper mineralisation, further demonstrating the Råna Intrusion's scale potential. Kingsrose is considering how best to advance the Råna Project which, like the Black Schist Project, we believe offers excellent optionality in the future as nickel supply rebalances and prices recover. New Projects With the benefit of the new funding closed in April 2025, Metals One is expanding its project portfolio and commodity exposure, with a particular focus on copper, uranium, and defence minerals. The Board is also considering opportunities, in light of record high prices, to acquire gold exploration assets. The Company has since the start of 2025 entered into agreements to potentially acquire the following projects. Hammaslahti & Outokumpu Copper Projects, Finland In April 2025, the Company announced the execution of a Share Purchase Agreement in respect of the acquisition of the Hammaslahti Copper-Zinc Project and Outokumpu Copper Project in Finland, which are both associated with former operating copper mines. Upon completion of the acquisition, Metals One will obtain 100% ownership of both projects, increasing its exposure to copper in a tier-1 jurisdiction. Accordingly, the Company is preparing to drill test Hammaslahti later this year, following the identification of significant sulphide mineralisation, and to advance geophysical surveys of targets at Outokumpu in preparation to drill. Squaw Creek Uranium Project, Wyoming & Uravan Belt Uranium-Vanadium Project, Colorado In May 2025, the Company announced the execution of a Share Purchase Agreement in respect of the proposed acquisition of uranium and vanadium exploration projects in the United States. Upon completion of the acquisition, Metals One will obtain 100% ownership of both projects, securing a foothold in commodities which are essential to U.S. clean energy generation, grid storage, and energy security. The Squaw Creek Project is in the Shirley Basin, a premier uranium district known for in situ recovery-amenable uranium mineralisation. The project is strategically located near past-producing mines and within Wyoming, which hosts TerraPower's next-generation nuclear reactor project, underscoring its importance to U.S. nuclear energy development. The Uravan Belt Project in Colorado is situated near the historic Buckhorn Mine in the renowned Uravan Mineral Belt, formerly the U.S.'s leading uranium-vanadium production area. The Company has already begun exploration work in anticipation of completion of the acquisition. Swales Gold Property, Nevada In May 2025, Metals One announced an exclusive term sheet for the conditional acquisition of an exploration lease over the Swales Gold Property in Nevada, USA, situated within the prolific Carlin Gold Trend, with an option to purchase the project. The project is located approximately 13 miles northeast of Nevada Gold Mines' Carlin Complex, the single largest gold-producing complex in the world (a joint venture between Barrick Gold Corp. (NYSE: GOLD) and Newmont Corp. (NYSE: NEM)). This strategic acquisition, if completed, will mark the Company's entry into the gold exploration sector, underpinned by record high gold prices, and diversify Metals One's existing portfolio of critical minerals assets in Europe and North America. Nevada is globally recognised as a leading mining jurisdiction, consistently ranking as a top region for mining investment. It produces approximately 75% of U.S. gold output and is the world's fifth-largest gold producer. Metals One is planning a Phase 1 exploration programme. Lillefjellklumpen PGE-Au-Ni-Cu Project, Norway Also in May 2025, Metals One announced the potential acquisition of a platinum group elements project in Norway. The project comprises a 20 km² exploration licence hosting high-grade platinum group elements, gold, nickel, and copper mineralisation, and will further the Company's commodity exposure. The acquisition introduces platinum and palladium into Metals One's portfolio, complementing existing nickel and copper assets and reinforcing the Company's critical minerals strategy. The project hosts some of the highest-grade PGE assays published in Norway, with surface sampling from 2014 returning up to 17.5 g/t Pd+Pt, alongside significant gold, nickel, and copper grades. Mineralisation characteristics show parallels to world-class deposits such as Sudbury (Canada) and Bushveld (South Africa). Located in Nord Trøndelag County, the project is well served by roads, power infrastructure, and a historic mining community. It covers a historic test mine area containing massive sulphide veins and dykes with high platinum, palladium, gold, nickel, and copper values. The sulphide-rich mineralisation lies along a major untested electromagnetic anomaly, which has not been modelled using modern techniques. The host rocks sit at the contact between greenstone and gabbroic units, a known favourable geological setting for PGE deposits. Corporate Developments In May 2024, Metals One raised £895,000 through a placing and subscription to support the development of the Black Schist Ni-Zn-Cu-Co Project in Finland. The proceeds allowed for the termination of the farm-in agreement with Gunsynd PLC and provided Metals One with the option to regain 100% ownership of its Black Schist Project by funding its own work programme and retaining greater ownership, as well as providing additional working capital. After the year-end, in April 2025, I moved into the role of Independent Non-Executive Chair, replacing Alastair Clayton as Non-Executive Chair, who stepped down from the Board of Directors having chaired the Company since its IPO in July 2023. At the same time, Thomas Levin stepped down as Non-Executive Director, representing the vendors of the Company's Black Schist Ni-Zn-Cu-Co Projectand Sarah Minchin stepped down as Non-Executive Director to pursue her other business interests. On behalf of the Board, I extend our gratitude to Alastair, Thomas, and Sarah for their contributions. Financial Review The Company's accounts for the year ended 31 December 2024 follow below. As an exploration company, Metals One currently has no revenues. As at 31 December 2024, Metals One had net assets of £8,663,131 including cash and cash equivalents of £33,640. The cash position was bolstered in April 2025 following a retail offer and equity fundraise delivering net proceeds of £3.1 million. In April 2025, the Company issued cash warrants to the investors in the equity fundraise which are exercisable for a period of six months from the date of grant and, if exercised, would bring in up to £10 million in additional gross proceeds to the Company. Conclusion Capital for junior resource companies has been extremely tight over the last couple of years and with the prolonged depressed nickel price, sourcing the investment to continue to fund our Black Schist Project became challenging. We have exceptional exposure to a future rebound in the nickel market with our Black Schist Project but, faced with the inevitable prospect of heavy dilution through hand-to-mouth fundraisings to keep the project moving forward, in April 2025 we concluded a funding by way of a convertible loan note instrument. While we recognise that this financing resulted in significant dilution for shareholders, this financing package secures the future of the Company's existing projects and is allowing Metals One to diversify its exposure to a wider basket of commodities which we have been delivering on with a number of strategic minerals project acquisition agreements described above. Importantly, the fundraise also introduced a new source of future capital and enthusiasm to our register. We have wasted no time in pursuing the acquisitions in Finland, Norway and the USA of copper projects, uranium projects, a gold project, and a platinum group elements project. These potential acquisitions align with Metals One's strategy to diversify and strengthen its asset portfolio, both in terms of geography and type of mineral, enabling us to broaden our mix of commodities to include more critical minerals essential to the energy transition, as well as precious metals underpinned by record high commodity prices. I am very much looking forward to advancing exploration on our new projects and to reporting on progress as they develop. Craig MoultonIndependent Non-Executive Chair28 June 2025 Consolidated Statement of Financial Position As at 31 December 2024 Notes Year ended 31 December 2024 Year ended 31 December 2023 £ £ Revenue Revenue from continuing operations - - Expenditure Other income 25,816 - Costs associated with the listing - (598,094 ) Administrative expenses 3 (1,331,771 ) (1,005,709 ) Share of loss of associate accounted for using the equity method 24 (315,951 ) (150,744 ) (1,621,906 ) (1,754,547 ) Finance costs Finance costs (175 ) (15 ) (175 ) (15 ) Loss on ordinary activities before taxation (1,622,081 ) (1,754,562 ) Taxation on loss on ordinary activities 7 - - Loss on ordinary activities after taxation (1,622,081 ) (1,754,562 ) Other comprehensive income Exchange differences on translation of foreign operations 4 811 1,662 Total comprehensive income for the year attributable to the owners of the Group (1,621,270 ) (1,752,900 ) Earnings per share (basic and diluted) attributable to the equity holders (pence) 8 (5.3 ) (17.7 ) Total comprehensive income attributable to: Owners of the parent (1,614,486 ) (1,751,733 ) Non-controlling interest (6,784 ) (2,829 ) (1,621,270 ) (1,754,562 ) The accompanying notes on pages 42 to 76 of the full annual report and accounts form an integral part of these consolidated financial statements. The financial statements were approved by the board on 30 June 2025 and were signed on its behalf by Craig Moulton, Chairman. Going concern The Group and Company's financial statements have been prepared on the going concern basis, which contemplates that the Group and Company will be able to realize its assets and discharge liabilities in the normal course of business. Despite this, there can be no assurance that the Group or the Company will either achieve or maintain profitability in the future and financial returns arising therefrom, or may be adversely affected by factors outside the control of the Group and the Company. The group and parent company have incurred losses since incorporation, and there is a reliance on obtaining further financing through equity or debt instruments in order to continue to meet working capital requirements and to fund exploration activities. These events or conditions indicate that a material uncertainty exists that may cast significant doubt on the group's and company's ability to continue as a going concern. Whilst acknowledging this material uncertainty, the directors consider it appropriate to prepare the financial statements on a going concern basis for the following reasons: As disclosed in the post balance sheet events note 28, the group completed a fundraising of £3,100,000 to fund the planned development scoping and exploration activities in Finland along with working capital commitments for the year ahead; The Group has no committed exploration expenditure on its granted mining licenses and has the ability to reduce all spend in the event that it needs to conserve cash balances; The Group can reduce most discretionary administrative expenditure if needed including deferral of Director fees; and The Group's Board of Directors have significant experience in the debt and equity capital markets and specifically have a successful track record in funding mining operations, new mine development and exploration activities and are further considered capable of securing ongoing debt and equity capital financing for the Group. The consolidated financial statements do not include the adjustments that would result if the Group and Company were unable to continue as a going concern. The auditors have made reference to going concern by way of a material uncertainty within the financial statements. Enquiries: Metals One PlcJonathan Owen, Chief Executive OfficerCraig Moulton, Chairman via Vigo Consulting Beaumont Cornish Limited (Nominated Adviser)James Biddle / Roland +44 (0)20 7628 3396 Capital Plus Partners Limited (Joint Broker)Jonathan Critchleyhttps:// +44 (0)20 3821 6169 Vigo Consulting (UK Investor Relations)Ben Simons / Kendall Hill / Anna Stacey +44 (0)20 7390 Fairfax Partners Inc (North America Investor Relations)connect@ +1 604 366 6277 About Metals One The race for critical minerals is on. Metals One is pursuing a critical minerals and gold exploration and M&A strategy, in low-risk jurisdictions, underpinned by the Western World's urgent need for reliably and responsibly sourced raw materials, and record high gold prices. In addition to gold, our commodity exposure* includes copper, nickel, cobalt, zinc, uranium, vanadium, and platinum group metals - all of which are vital to the clean energy transition. Metals One's most advanced project is the Black Schist Project in Finland with a 57.1 Mt nickel-copper-cobalt-zinc JORC Inferred Resource adjacent to one of Europe's largest nickel producers. Our project portfolio* spans Finland, Norway, and the USA. Metals One's shares are listed on the London Stock Exchange's AIM Market (MET1). *Includes projects for which acquisition terms have been agreed Follow us on social media: LinkedIn: X: Subscribe to our news alert service on the Investors page of our website at: Market Abuse Regulation (MAR) Disclosure The information set out below is provided in accordance with the requirements of Article 19(3) of the Market Abuse Regulations (EU) No. 596/2014 which forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ('MAR'). Nominated Adviser Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@ or visit SOURCE: Metals One PLC View the original press release on ACCESS Newswire Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
