MIDAS SHARES TIPS: Gold miner set to shine despite the panic over prices

MIDAS SHARES TIPS: Gold miner set to shine despite the panic over prices

, for example, Engelbrecht said production for the year would be between 135,000 and 145,000 ounces of gold. Ultimately, the firm produced 139,000 ounces. This year, production is forecast at between 140,000 and 155,000 ounces.

The group is still assessing the potential of Toka Tindung and signs are encouraging. An upbeat resource update was released on Friday and Engelbrecht hopes to be producing 200,000 ounces a year by 2015.

The firm is fortunate, too, because all-in costs, including production, capital expenditure, exploration and administration, are about $900 (588) per ounce, while the average for London-listed groups is about $1,300.

This means the firm is less vulnerable to short-term gold price swings and has enough cash to pay a dividend. Last month, it unveiled a maiden payout of 1.25p a share for 2012 plus a 1p special dividend. A progressive dividend policy is expected from now on.

Midas verdict: The gold price has bounced from a closing low of $1,380 on April 16 to $1,471.5 today. While pundits debate its prospects, Archipelago reports robust demand for its gold and is confident about the future. Even if the gold price slips, this firm’s low costs provide a comfortable cushion. If it rises, Archipelago’s shares should rise too. Investors will also benefit from growing production. Buy.

Car insurance premiums drop as insurers are banned from taking fees from lawyers and launch partnerships instead

Car insurance premiums drop as insurers are banned from taking fees from lawyers and launch partnerships instead PUBLISHED: 22:08 GMT, 27 April 2013 | UPDATED: 22:08 GMT, 27 April 2013 DM.has('shareLink', 'shareLinks', { 'id': '2315772', 'title': 'Car insurance premiums drop as insurers are banned from taking fees from lawyers and launch partnerships instead', 'url': 'http://www.dailymail.co.uk/money/cars/article-2315772/Car-insurance-premiums-drop-insurers-banned-taking-fees-lawyers-launch-partnerships-instead.html', 'eTwitterStatus': 'Car%20insurance%20premiums%20drop%20as%20insurers%20are%20banned%20from%20taking%20fees%20from%20lawyers%20and%20launch…%20http://bit.ly/11MFGBu%20via%20@MailOnline' }); Car insurance premiums are expected to fall up to 15 per cent this year as the authorities crack down on Britain’s compensation culture. However, it seems that insurers are not ready to let go of their lucrative links to the personal injury claims industry. Continue reading

Banks must take loan risks to help the Government end the funding crisis, warn experts

Banks must take loan risks to help the Government end the funding crisis, warn experts By Helen Loveless PUBLISHED: 22:07 GMT, 27 April 2013 | UPDATED: 22:07 GMT, 27 April 2013 DM.has('shareLink', 'shareLinks', { 'id': '2315812', 'title': 'Banks must take loan risks to help the Government end the funding crisis, warn experts', 'url': 'http://www.dailymail.co.uk/money/saving/article-2315812/Banks-loan-risks-help-Government-end-funding-crisis-warn-experts.html', 'eTwitterStatus': 'Banks%20must%20take%20loan%20risks%20to%20help%20the%20Government%20end%20the%20funding%20crisis,%20warn%20experts%20http://bit.ly/1843gOX%20via%20@MailOnline' }); Government attempts to ensure that more small and medium-sized firms can get finance will fail unless banks change their attitude to business risk, experts have warned. The Chancellor last week said that the Funding for Lending Scheme, through which banks can borrow money more cheaply when they lend more to small businesses, will be extended until 2015 Continue reading

Treasury urged to help small bank take over the 630 branches being sold by Lloyds

Treasury urged to help small bank take over the 630 branches being sold by Lloyds By Simon Watkins PUBLISHED: 22:09 GMT, 27 April 2013 | UPDATED: 22:09 GMT, 27 April 2013 DM.has('shareLink', 'shareLinks', { 'id': '2315750', 'title': 'Treasury urged to help small bank take over the 630 branches being sold by Lloyds', 'url': 'http://www.dailymail.co.uk/money/saving/article-2315750/Treasury-urged-help-small-bank-630-branches-sold-Lloyds.html', 'eTwitterStatus': 'Treasury%20urged%20to%20help%20small%20bank%20take%20over%20the%20630%20branches%20being%20sold%20by%20Lloyds%20http://bit.ly/Yc42Ym%20via%20@MailOnline' }); The Government should intervene to help a small bank take over the 630 branches being sold by Lloyds, according to the boss of one lender. The deal for Co-op Bank to buy the branches was the Government’s preferred plan, but Lloyds has now been left to press ahead with a flotation of the outlets as a new bank under the TSB brand. However, Paul Lynam, chief executive of stock market-listed Secure Trust Bank, insisted this was not the best option and called on the Treasury to take firm action by promoting a smaller bank – such as his own – to buy the branches Continue reading

Simon Watkins: Foreign sweatshops and low-cost clothing are hurting our economy

Simon Watkins: Foreign sweatshops and low-cost clothing are hurting our economy By Simon Watkins PUBLISHED: 22:09 GMT, 27 April 2013 | UPDATED: 22:09 GMT, 27 April 2013 DM.has('shareLink', 'shareLinks', { 'id': '2315743', 'title': 'Simon Watkins: Foreign sweatshops and low-cost clothing are hurting our economy', 'url': 'http://www.dailymail.co.uk/money/article-2315743/Simon-Watkins-Foreign-sweatshops-low-cost-clothing-hurting-economy.html', 'eTwitterStatus': 'Simon%20Watkins:%20Foreign%20sweatshops%20and%20low-cost%20clothing%20are%20hurting%20our%20economy%20http://bit.ly/11MKCWY%20via%20@MailOnline' }); The horrific scenes from Dhaka in Bangladesh where at least 300 workers in a clothing factory died last week should be a source of shame to Western retailers and shoppers. They also highlight the hidden price of the low-cost clothing revolution that has taken place in this country and elsewhere in recent years. Cheap clothes (and indeed many other low-cost products) from factories across Asia and the Far East were a critical part of the boom years Continue reading

RBS set to unveil quarterly profits boom, raising Osborne"s hopes of sale

RBS set to unveil quarterly profits boom, raising Osborne's hopes of sale By Alex Hawkes PUBLISHED: 22:10 GMT, 27 April 2013 | UPDATED: 22:10 GMT, 27 April 2013 DM.has('shareLink', 'shareLinks', { 'id': '2315734', 'title': 'RBS set to unveil quarterly profits boom, raising Osborne's hopes of sale', 'url': 'http://www.dailymail.co.uk/money/markets/article-2315734/RBS-set-unveil-quarterly-profits-boom-raising-Osbornes-hopes-sale.html', 'eTwitterStatus': 'RBS%20set%20to%20unveil%20quarterly%20profits%20boom,%20raising%20Osborne's%20hopes%20of%20sale%20http://bit.ly/11MnE2h%20via%20@MailOnline' }); Royal Bank of Scotland is set to unveil its best quarterly figures since the financial crisis, in a move that will spark renewed debate about the bank returning to private ownership. It will announce an 800million pre-tax profit when it reveals first-quarter results on Friday, City analysts forecast. The numbers are expected to be only the start of a profitable year for the bank that was taken largely into state ownership in 2008 Continue reading

Revealed: M&S boss considered making a bid for Jaeger fashion chain

Revealed: M&S boss considered making a bid for Jaeger fashion chain By Neil Craven PUBLISHED: 22:10 GMT, 27 April 2013 | UPDATED: 22:10 GMT, 27 April 2013 DM.has('shareLink', 'shareLinks', { 'id': '2315741', 'title': 'Revealed: M&S boss considered making a bid for Jaeger fashion chain', 'url': 'http://www.dailymail.co.uk/money/markets/article-2315741/Revealed-M-S-boss-considered-making-bid-Jaeger-fashion-chain.html', 'eTwitterStatus': 'Revealed:%20M&S%20boss%20considered%20making%20a%20bid%20for%20Jaeger%20fashion%20chain%20http://bit.ly/11MqOTy%20via%20@MailOnline' }); Marks & Spencer has considered buying fashion label Jaeger as a way to boost its fashion brands. Chief executive Marc Bolland looked at a bid last year when Jaeger ran into difficulty. Continue reading

InPost lockers: No more missing the post, now you can collect your parcel anytime, anywhere

No more trips to the post office depot Network of parcel lockers in petrol stations and supermarkets opens across the UK By Helen Loveless PUBLISHED: 21:20 GMT, 26 April 2013 | UPDATED: 15:24 GMT, 27 April 2013 DM.has('shareLink', 'shareLinks', { 'id': '2315481', 'title': 'No more trips to the post office depot Network of parcel lockers in petrol stations and supermarkets opens across the UK', 'url': 'http://www.dailymail.co.uk/money/smallbusiness/article-2315481/InPost-lockers-No-missing-post-collect-parcel-anytime-anywhere.html', 'eTwitterStatus': 'InPost%20lockers:%20No%20more%20missing%20the%20post,%20now%20you%20can%20collect%20your%20parcel%20anytime,%20anywhere%20http://bit.ly/14p5sRE%20via%20@MailOnline' }); A nationwide network of lockers where consumers can collect or deliver parcels at any time of the day or night will be rolled out today. International company InPost has installed 100 lockers in petrol station forecourts, shopping centres and supermarkets across the UK, which consumers will be able to use from tomorrow. The group has plans to roll-out more than 2,000 across the UK by the end of the year. Continue reading

Spain"s banks could face fresh crisis as property prices "need to fall another 10%", Goldman Sachs warns

Spain's banks could face fresh crisis as property prices 'need to fall another 10%', Goldman Sachs warns By This Is Money Reporter PUBLISHED: 14:14 GMT, 27 April 2013 | UPDATED: 15:38 GMT, 27 April 2013 DM.has('shareLink', 'shareLinks', { 'id': '2315738', 'title': 'Spain's banks could face fresh crisis as property prices 'need to fall another 10%', Goldman Sachs warns', 'url': 'http://www.dailymail.co.uk/money/news/article-2315738/Spains-banks-face-fresh-crisis-property-prices-need-fall-10–Goldman-Sachs-warns.html', 'eTwitterStatus': 'Spain's%20banks%20could%20face%20fresh%20crisis%20as%20property%20prices%20'need%20to%20fall%20another%2010%25',%20Goldman%20Sachs…%20http://bit.ly/YbQGeJ%20via%20@MailOnline' }); Spain's collapsing residential property market is still overvalued, banking experts have warned. Goldman Sachs analysts said that house prices in the embattled European Union economy need to fall another 10 per cent, according to a Telegraph report Continue reading

Samsung looks to press advantage over Apple in smartphone wars as it launches Galaxy S4

Samsung looks to press advantage over Apple in smartphone wars as it launches Galaxy S4 By Peter Campbell PUBLISHED: 21:24 GMT, 26 April 2013 | UPDATED: 15:32 GMT, 27 April 2013 DM.has('shareLink', 'shareLinks', { 'id': '2315426', 'title': 'Samsung looks to press advantage over Apple in smartphone wars as it launches Galaxy S4', 'url': 'http://www.dailymail.co.uk/money/news/article-2315426/Samsung-looks-press-advantage-Apple-smartphone-wars-launches-Galaxy-S4.html', 'eTwitterStatus': 'Samsung%20looks%20to%20press%20advantage%20over%20Apple%20in%20smartphone%20wars%20as%20it%20launches%20Galaxy%20S4%20http://bit.ly/11MBvps%20via%20@MailOnline' }); Smartphone wars: Samsung sold twice as many phones as Apple in the first three months of 2013. Samsung has extended its lead in the global smartphone race, selling twice as many phones as its main rival Apple in the first three months of the year Continue reading