Buy On The Dip Bankers Pet BNK-T

Short History

		Symbol	Report Date	Volume	Change
		BNK - T	2010-09-30	4,667,064	-110,411
		BNK - T	2010-09-15	4,777,475	504,762
		BNK - T	2010-08-31	4,272,713	-169,135
		BNK - T	2010-08-15	4,441,848	196,548
		BNK - T	2010-07-31	4,245,300	-441,707
		BNK - T	2010-07-15	4,687,007	495,339
		BNK - T	2010-06-30	4,191,668	732,906
		BNK - T	2010-06-15	3,458,762	-13,953
		BNK - T	2010-05-31	3,472,715	-120,037
		BNK - T	2010-05-15	3,592,752	667,292
		BNK - T	2010-04-30	2,925,460	-9,952

GMP Accumulating Everything

They Can Get Their Hands On

This dip in the price triggered stop losses and GMP

and others vacuumed up all the cheap shares.

We should be back to 7.25-7. 35 by next week

See The Large Crosses Above

Bankers is oversold on todays news

technically and will run back up

We are in at $6.75

Buy Low To Sell High!

It was $7.35- 7.50 2 days ago

UPDATE 1-Bankers Petroleum cuts 2010 exit output view

09:22 EDT Thursday, October 07, 2010

* Sees 2010 exit production rate of 12,000 bopd

* Sees 2011 exit production rate of 20,000 bopd

* Says Q3 production averaged 9,826 bopd

Oct 7 (Reuters) - Canadian oil and gas company Bankers Petroleum Ltd lowered its 2010 exit production rate and posted a sequential decline in quarterly production, hit by delays in the takeover of wells from the Albanian national oil company.

The company sees 2010 exit production rate of 12,000 barrels of oil per day (bopd), down from its previous view of 15,000 bopd. It targets 20,000 bopd for 2011.

Third-quarter production average from the Patos-Marinza oilfield in Albania dipped to 9,826 bopd, from 9,830 bopd in the previous quarter.

Bankers said production was hit because Albania's Albpetrol Sh.a handed over only 10 of the expected 100 wells for re-activation by the July-September quarter.

Albpetrol, however, handed over 55 wells on Oct. 5, Bankers added.

Shares of the Calgary, Alberta-based company closed at C$7.35 Wednesday on the Toronto Stock Exchange. (Reporting by Abhiram Nandakumar in Bangalore; Editing by Don Sebastian)

©2010 CTVglobemedia Publishing Inc. All rights reserved.

Huge Cross Of Shares

House Positions for C:BNK from 20101007 to 20101007 House Bought $Val Ave Sold $Val Ave Net $Net 74 GMP 8,657,000 59,091,996 6.826 7,365,580 50,250,300 6.822 1,291,420 -8,841,696 39 Merrill Lynch 523,300 3,578,763 6.839 22,400 154,767 6.909 500,900 -3,423,996 7 TD Sec 599,930 4,106,971 6.846 276,772 1,899,377 6.863 323,158 -2,207,594 9 BMO Nesbitt 270,165 1,856,172 6.871 92,156 633,890 6.878 178,009 -1,222,282 11 MacQuarie 265,100 1,815,680 6.849 100,000 685,000 6.85 165,100 -1,130,680 85 Scotia 207,538 1,420,621 6.845 90,406 615,590 6.809 117,132 -805,031 82 Stifel 122,100 833,829 6.829 10,000 67,800 6.78 112,100 -766,029 121 Jennings 250,400 1,701,002 6.793 150,000 1,025,500 6.837 100,400 -675,502 99 Jitney 229,400 1,560,754 6.804 179,350 1,216,484 6.783 50,050 -344,270 79 CIBC 774,800 5,321,806 6.869 729,800 4,997,806 6.848 45,000 -324,000 89 Raymond James 723,765 4,942,518 6.829 687,330 4,699,033 6.837 36,435 -243,485 124 Questrade 36,650 249,645 6.812 4,575 31,522 6.89 32,075 -218,123 2 RBC 402,064 2,745,159 6.828 373,215 2,536,870 6.797 28,849 -208,289 81 HSBC 21,400 148,176 6.924 5,500 37,805 6.874 15,900 -110,371 95 Wolverton 15,600 106,714 6.841 0 15,600 -106,714 101 Newedge 13,500 93,956 6.96 5,300 37,086 6.997 8,200 -56,870 19 Desjardins 24,755 170,016 6.868 17,100 118,092 6.906 7,655 -51,924 5 Penson 33,500 230,625 6.884 26,800 183,621 6.852 6,700 -47,004 60 MF Global Can 19,200 131,750 6.862 16,000 109,686 6.855 3,200 -22,064 25 Odlum 3,000 20,670 6.89 0 3,000 -20,670 73 Cormark 2,700 18,552 6.871 0 2,700 -18,552 53 Morgan Stanley 2,502 17,201 6.875 0 2,502 -17,201 37 MacDougall 2,000 13,500 6.75 0 2,000 -13,500 70 Manulife 4,000 27,810 6.953 2,000 13,500 6.75 2,000 -14,310 22 Fidelity 2,000 13,900 6.95 0 2,000 -13,900 123 Citigroup 1,900 13,061 6.874 0 1,900 -13,061 62 Haywood 900 6,254 6.949 0 900 -6,254 111 Fraser Mackenzie 58,400 397,260 6.802 57,600 397,987 6.909 800 727 57 Interactive 311 2,132 6.855 74 498 6.73 237 -1,634 94 Hampton 69 475 6.884 0 69 -475 27 Dundee 300,000 2,075,000 6.917 300,000 2,075,000 6.917 0 0 46 Macquarie 5,000 33,859 6.772 5,900 40,415 6.85 -900 6,556 56 Edward Jones 0 1,333 8,957 6.719 -1,333 8,957 75 MGI 0 2,900 19,816 6.833 -2,900 19,816 84 Ind Trading 55,800 380,851 6.825 61,000 416,446 6.827 -5,200 35,595 13 Instinet 46,600 322,111 6.912 52,064 354,682 6.812 -5,464 32,571 31 Dominick 0 5,500 37,440 6.807 -5,500 37,440 52 NCP 129,442 881,711 6.812 135,521 930,579 6.867 -6,079 48,868 65 Goldman 0 13,700 95,317 6.957 -13,700 95,317 90 Barclays 0 17,100 117,242 6.856 -17,100 117,242 24 Clarus 0 20,500 146,575 7.15 -20,500 146,575 78 Salman 68,300 462,418 6.77 99,600 689,069 6.918 -31,300 226,651 12 Wellington 75,700 526,322 6.953 113,000 785,796 6.954 -37,300 259,474 72 Credit Suisse 383,600 2,589,014 6.749 480,424 3,260,280 6.786 -96,824 671,266 15 UBS 184,400 1,279,531 6.939 488,977 3,361,455 6.874 -304,577 2,081,924 10 FirstEnergy 10,000 67,500 6.75 332,058 2,279,568 6.865 -322,058 2,212,068 14 ITG 76,844 528,102 6.872 409,300 2,771,857 6.772 -332,456 2,243,755 80 National Bank 337,450 2,310,078 6.846 869,550 5,958,965 6.853 -532,100 3,648,887 33 Canaccord 711,000 4,810,155 6.765 1,274,000 8,638,775 6.781 -563,000 3,828,620 1 Anonymous 774,800 5,329,799 6.879 1,532,500 10,532,971 6.873 -757,700 5,203,172 TOTAL 16,426,885 112,233,419 6.832 16,426,885 112,233,419 6.832 0 0 Top

VOLUME LEADERS

Symbol Name Last Trade Change Volume Related Info BNK.TO BANKERS PETROLEUM LTD. 7.03 1:42PM EST 0.32 (4.35%) 18,344,333 Reports, More HNU.TO HORIZONS BETA PRO NYMEX NAT GAS 3.30 1:42PM EST 0.37 (10.08%) 12,678,045 More AND.TO ANDEAN RESOURCES LIMITED 6.20 1:42PM EST 0.15 (2.36%) 9,382,362 Reports, More BBD-B.TO BOMBARDIER INC., CL. B, SV 5.21 1:42PM EST 0.03 (0.58%) 6,225,195 Reports, More ELR.TO EASTERN PLATINUM LIMITED 1.49 1:41PM EST 0.01 (0.67%) 6,171,675 Reports, More YRI.TO YAMANA GOLD INC 11.55 1:41PM EST 0.38 (3.19%) 5,465,734 Reports, More MAI.TO MINERA ANDES INC. 2.02 1:42PM EST 0.26 (14.77%) 5,318,195 Reports, More CRK.TO CROCODILE GOLD CORP 1.43 1:39PM EST 0.08 (5.30%) 5,294,514 Reports, More MFC.TO MANULIFE FIN 12.47 1:42PM EST 0.24 (1.89%) 4,654,571 Reports, More K.TO KINROSS GOLD CORP. 19.29 1:42PM EST 0.47 (2.38%) 4,654,538 Reports, More XIU.TO iSHARES SP TSX 60 INDEX FUND 18.01 1:41PM EST 0.14 (0.77%) 4,608,999 More HXT.TO HORIZONS BP SP TSX60 INDEX ETF 10.15 1:34PM EST 0.08 (0.78%) 4,246,000 More ABX.TO BARRICK GOLD CORPORATION 48.30 1:42PM EST 0.78 (1.59%) 3,994,161 Reports, More LUN.TO LUNDIN MINING CORP. 5.28 1:42PM EST 0.14 (2.58%) 3,843,990 Reports, More HOU.TO HORIZON BETAPRO NYMEX CRDE OIL 6.63 1:43PM EST 0.32 (4.60%) 3,592,415 More G.TO GOLDCORP INC 44.32 1:43PM EST 1.42 (3.10%) 3,264,715 Reports, More WTN.TO WESTERN COAL CORP 6.57 1:42PM EST 0.05 (0.77%) 3,226,491 Reports, More SU.TO SUNCOR ENERGY INC. 33.86 1:42PM EST 0.71 (2.05%) 3,216,412 Reports, More NCU.TO NEVADA COPPER CORP. 3.72 12:12PM EST 0.06 (1.59%) 3,073,475 Reports, More HGU.TO HORIZONS BETAPRO S&P/TSX GLOBAL 16.17 1:42PM EST 0.80 (4.71%) 2,684,984 More TCK-B.TO Teck Resources Limited 43.37 1:43PM EST 1.00 (2.25%) 2,579,752 Reports, More GGA.TO GOLDGROUP MINING INC 0.84 1:40PM EST 0.04 (5.00%) 2,554,015 Reports, More GMI.TO GLOBESTAR MINING CORPORATION 1.60 1:41PM EST 0.33 (25.98%) 2,485,976 Reports, More PTQ.TO PETAQUILLA MINERALS LTD. 0.57 1:39PM EST 0.00 (0.00%) 2,421,501 Reports, More IAU.TO INTREPID MINES LTD. 1.50 1:42PM EST 0.03 (2.04%) 2,399,580 Reports, More

Bullish on bullion – but at what price? Miners are making big bets on gold’s hot streak as they scramble to scoop up new deposits

Lisa Wright

Happy days are here again for gold bugs, with the price of bullion setting new records almost daily and hovering above the $1,300 U.S. an ounce level for the first time in history.

And the investor stampede to the precious yellow metal – thanks in large part to the ailing U.S. economy—has spurred a frenzy of deal-making as gold companies duke it out for new assets to lock up reserves.

After a golden decade that has seen the metal price jump more than 400 per cent from a low of $252 U.S. in 1999, speculators are still buying gold faster than the world’s biggest producers can crank it out. So the seniors must acquire new discoveries or existing mines owned by smaller companies to stay afloat.

Amid the wild industry talk of gold hitting anywhere from $2,000 to $10,000 an ounce in this cycle, the mergers and acquisitions activity in the global gold sector has reached an all-time high of $32 billion so far this year – already double that of 2009.

But analysts caution that miners are making some “very big bets” that the gold price will continue to soar for years to come considering the big bucks they have shelled out recently to develop new mines, which in fact take years to build before any ore can be extracted.

“Adding ounces is the ultimate strategy, but building an asset is a long-term investment,” notes John Hughes, metals analyst at Desjardins Securities in Toronto.

He says project development typically takes three to five years, and it’s anyone’s guess where the gold price will be by then.

Kinross Gold Corp. took some heat from the street but ultimately succeeded in its friendly, $7.1-billion takeover last month of Red Back Mining Inc., the focal point of which is the $1.5-billion development of the Tasiast mine in Mauritania.

This year Goldcorp Inc. and Eldorado Gold Corp. locked horns in their quest to acquire Australia’s Andean Resources Ltd., which Goldcorp scooped up last month for $3.6 billion. And Newcrest Mining Ltd. took over rival Lihir Gold Ltd. for $9.5 billion in August.

“It’s obvious that continued high gold prices, and even further upward movement, are the expectation of the CEOs making these huge bets,” says Bob Gallagher, chief executive of New Gold Inc.

The Vancouver company hasn’t jumped into the acquisition fray as others have in recent months because the price isn’t right, he says, with share prices in the sector gaining steam along with the metal price.

“Investors are scratching their heads over some of these deals, but they’re going along with it,” says mining analyst Barry Allan of Mackie Research Capital Corp.

It just shows how aggressive that mining company executives like Kinross’ Tye Burt are willing to be to get more gold in the pipeline, says Allan, “but it’s a bet, pure and simple.”

“Paying top dollar for an asset leaves them no room” if gold’s bull market ends before they can start production at new mines, he notes.

Gold is rising due to continuing concerns about the U.S. economy, the weakening greenback and record demand for exchange-traded funds (ETFs) in gold. The metal has rallied as central banks and governments maintained low borrowing costs and spent trillions of dollars to stimulate their economies.

Bullion has outperformed global equities, treasuries and most industrial metals this year.

“The strong price provides more confidence for these companies to go in and follow through on some of the M&A activity as we are seeing now,” says Hughes.

“And it’s a reflection of not having a next generation of mine development of any size,” he says.

Billionaire financier George Soros warned last month that gold was in “the ultimate bubble”, but gold bugs believe that it will take a while to burst given the uneasy global economy. Rising gold prices have encouraged investors to add gold to their portfolios and central banks to start adding it again too.

Gold guru Rob McEwen, the former CEO of Goldcorp who is now runs junior explorer U.S. Gold Corp., had predicted the price would hit $2,000 by year’s end but says now that “will be a push.”

The mining mogul raised a few eyebrows last month when he sold his sizeable stake in gold explorer Rubicon Minerals Corp., which saw its share price immediately tumble by 3.5 per cent.

Tidy profit-taking aside, McEwen maintains the gold price will pass $2,000 an ounce and run up to $5,000 in this cycle.

“Gold is money…It is a currency that can’t be increased dramatically with a printing press,” he says.

“But do not expect a straight climb up. There will be corrections, consolidations, before resuming the climb higher,” he adds.

Still, the ups and downs of gold – which struggled to reach $1,300 for the last 18 months—have brought some bears out of hibernation.

“Gold is being driven by a rising level of fear. Gold right now is quite volatile, and we’re not as optimistic as others are at the moment,” says Toon van Beeck, senior analyst at IBISWorld, a Santa Monica, Calif.-based research firm.

“As economic conditions improve, investment in gold as a store of value and a hedge against the U.S. dollar will decrease,” he says.

He predicts the gold price will actually tumble by $200 in the next three years.

However most analysts remain bullish on bullion in the near-term, since gold is the historic flight to safety in troubled times. But they caution that we’ve seen this show many times before in the mining industry.

Five years ago, the plot was centered on base metals, particularly nickel, which was on its way to a record high of $25 U.S. a pound. That had former Canadian foes Inco and Falconbridge actually talking merger, but it was too late.

Brazil’s Vale gobbled up the former and Xstrata snagged the latter in multi-billion dollar deals that had the industry buzzing about overpaying for assets at the top end of the cycle.

Nickel is now $10.50 a pound after tumbling below $5 in 2008, employees of the former Inco wound up on strike for a year, and Vale and Xstrata slashed staff during the recent economic meltdown.

“We know the movie will have the same ending,” says Allan.

“The plot may be a bit different and there are a few new characters this time, but it’s a boom and bust industry and always will be.”