George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
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Aqua Shard scales new flowery heights: The shard, which set the record for the tallest building in Western Europe when launched in 2011, will set some equally lofty standards when the Aqua restaurant is decorated in 20 feet flowers for the launch of the Chelsea Flower Show.
Tax spurs sale of £1 million homes: The highest number of sales in Scotland of houses worth more than £1 million was recorded in the month before a new sales tax came into force, according to a report.
Freedom Tower has fastest lifts in the West: One World Trade Center, sometimes known as the Freedom Tower, will open to the public who will be able to access its observatory with unrivalled views over Manhattan and beyond.
Stampede for home sales after Tory win: The brakes have come off the property market, according to leading estate agents, who are detecting a rush of people putting homes up for sale in light of the outcome of the election.
UK CB leading economic index advanced in April On a monthly basis, the CB leading economic index in the UK rose 0.20% in April. In the previous month, the CB leading economic index had registered a rise of 0.60%.
UK Rightmove house price index dropped in May The Rightmove house price index in the UK registered a drop of 0.10% on a MoM basis, in May. The Rightmove house price index had risen 1.60% in the previous month.
UK construction output rose more than expected in March In March, on an annual basis, construction output registered a rise of 1.60% in the UK, more than market expectations for an advance of 1.10%. In the previous month, construction output had recorded a revised drop of 0.20%.
Church to splash out on clergy as booming investments pass £6.7 billion: The Church of England’s investment portfolio is to spend £100 million on a huge expansion of the clergy as booming property values pushed it to over £6.7 billion.
Housebuilding recovery may give GDP figures a lift: Construction output rose by 3.9% in March after being stuck in negative territory for the previous two months, the Office for National Statistics said.
Total household wealth at the end of 2014 is estimated to have reached £9.1trn, the latest research from Lloyds Bank Private Banking has revealed, an increase of £1.5 trillion (or 19%) in the past year and marking the largest annual increase since records began in 2001. This has been led by a combination of growth in average property prices and the value of financial assets - house prices rose by 9% during the year which meant housing wealth contributed an estimated £452bn to the overall increase in wealth (accounting for approximately one-third of the total rise), while the total value of financial assets held by households has increased by £996bn in the last year. Looking longer term, wealth held by households has grown by £3.9trn (or 75%) in the past decade, a significant increase from £5.2trn in 2004, equating to an increase of £126,572 per household. The value of household wealth has grown at a faster rate than the overall increase in consumer prices (RPI has risen by 31% over the past 10 years) and has significantly outpaced growth in gross household disposable income, which has risen by 42%. The report also noted that housing now accounts for 39% of total wealth, down from 45% in 2004, and conversely, the proportion accounted for by financial assets has risen from 55% to 61%. Overall, average household wealth increased to an estimated £326,414 in 2014.
Bovis Homes, ahead of its AGM at noon, the housebuilder said it was on track to deliver expected growth and increase shareholder returns
Average London house to cost £1 million by 2030: The average price of a home in London could crash through the £1 million barrier by 2030, spiralling further out of reach for the average resident.
British Land reaches for the sky as London powers on: Record rents and galloping home prices in two of London’s most exclusive areas have provided a double bonus for British Land.
Wealth of U.K. households soars by £1.5 trillion in a year: British households collectively became £1.5 trillion richer last year in the largest annual increase of wealth as the value of property and financial assets increased
Property development and investment giant British Land met forecasts with a small increase in profits in the year ended 31 March. The company, which owns London office and residential properties and a national retail portfolio, reported an underlying pre-tax profit of £313m, up 5.4% on the previous year. Diluted underlying earnings per share increased 4.1% to 30.6p, more or less in line with consensus estimates.
Employment picture brighter with wage growth up and jobless queue shrinking: Average weekly wages excluding bonuses rose by an inflation-busting 2.2% in March, official figures published this morning showed – a welcome relief for consumers
Savills beats forecasts despite pre-election market wobble: Real estate adviser Savills said trading in the year-to-date had beaten expectations and was “substantially” ahead of the same time last year, despite seeing a slowdown in home sales in the run-up to the General Election.
Surveyors say housing level at crisis point: House prices across the country climbed further last month as new listings fell at their fastest rate in six years, according to a new report published.
Tories must ‘clarify plans for homes,’ says Barratt Developments: David Cameron’s new Conservative administration needs to sit down with housebuilders to thrash out plans to deliver 200,000 cheap starter homes, the Chief Executive of Barratt Developments has said.
Bank of England Governor Mark Carney relaxed over global bond sell-off: Dramatic volatility in global bond markets, which has led to steep falls in the value of government bonds, should not be a cause for alarm, Bank of England Governor Mark Carney has said.
Prices rise as lack of new homes becomes a ‘national emergency’: Affordability and the chronic lack of new homes coming onto the market have become a “national emergency” as fresh evidence emerges that house prices are starting to creep up again across the country.
UK house price balance rose in April In the UK, house price balance rose to a level of 33.00 in April, compared to a revised level of 22.00 in the previous month.
UK ILO unemployment rate dropped in the January-March 2015 period The ILO unemployment rate eased to 5.50% in the January-March 2015 period, in the UK. In the December-February 2015 period, the ILO unemployment rate had registered a level of 5.60%. Employment in the UK advanced in March In the UK, employment advanced by 202.00 K in March, lower than market expectations of an advance of 225.00 K. Employment had recorded an increase of 248.00 K in the December-February 2015 period. UK claimant count rate remained steady in April In April, the claimant count rate in the UK remained unchanged at a level of 2.30%, compared to market expectations of a fall to a level of 2.20%. Number of unemployment benefits claimants in the UK declined in April In the UK, number of unemployment benefits claimants fell by 12.60 K in April, lower than market anticipations of a decline of 20.00 K. Number of unemployment benefits claimants had recorded a revised fall of 16.70 K in the previous month.
UK average earnings excluding bonus rose more than expected in the January-March 2015 period The average earnings excluding bonus in the UK recorded a rise of 2.20% in the January-March 2015 period on a YoY basis, higher than market expectations for an advance of 2.10%. In the December-February 2015 period, the average earnings excluding bonus had recorded a revised rise of 1.90%. UK average earnings including bonus rose more than expected in the January-March 2015 period In the January-March 2015 period, the average earnings including bonus recorded a rise of 1.90% in the UK on a YoY basis, compared to a rise of 1.70% in the December-February 2015 period. Market expectation was for the average earnings including bonus to advance 1.70%.
The latest Moneyfacts UK Mortgage Trends report has revealed that average mortgage rates are continuing to fall, and notably, it's longer-term rates that are seeing the most significant reductions as competition intensifies in the sector. The figures show that the average two-year fixed rate fell by 0.02%, down from 2.97% to 2.95%, while long-term rates have reduced to an even greater extent - the average five-year fixed rate fell by 0.09% this month, down from 3.53% to a new record low of 3.44%. It's particularly interesting to note the comparison between two-year and five-year rates, and how far the averages have fallen in recent months: the average five-year rate is now considerably lower than the average two-year rate at this point last year (it stood at 3.62% in May 2014, and it was only in October when it fell below the current five-year rate), so in effect, providers are prepared to lend for three years longer for the same price. Analysis points to several influencing factors, but the higher margins of long-term deals appear to be key, allowing for further rate cuts. Consumers are also actively seeking longer-term deals - Moneyfacts' search figures show that demand for five-year mortgages has risen by 19.5% since the start of the year - and providers are accommodating, not only by cutting rates, but also by increasing product count (the number of five-year products available has risen by 40.7% year-on-year). Given providers' ongoing desire to secure borrowers ahead of a base rate rise, there's every possibility that the trend could continue.