Price % Gainers
Symbol Name Last Trade Change Volume Related Info ERD.TO ERDENE RESOURCE DEVELOPMENT COM 1.20 
0.35 (41.18%)3,458,236 Chart, Profile, More RS.TO RS TECHNOLOGIES INC 1.25 0.27 (27.55%)121,184 Chart, Profile, More MGT.TO MINES MANAGEMENT INC. 3.58 0.72 (25.17%)20,489 Chart, Profile, More XRG.TO XINERGY LTD. 2.58 0.38 (17.27%)278,035 Chart, Profile, More ONC.TO ONCOLYTICS BIO 5.88 0.79 (15.52%)318,140 Chart, Profile, More SGQ.TO SOUTHGOBI RESOURCES LTD 13.94 1.84 (15.21%)346,198 Chart, Profile, More ECU.TO ECU SILVER MINING INC. 1.37 0.17 (14.17%)5,061,151 Chart, Profile, More SLX.TO GENCO RESOURCES LTD COM 0.89 0.11 (14.10%)3,099,116 Chart, More SVC.TO SANDVINE CORPORATION 2.82 0.33 (13.25%)1,566,902 Chart, Profile, More MOL.TO MOLY MINES LIMITED 1.15 0.12 (11.65%)2,581,088 Chart, Profile, More YM.TO YM BIOSCIENCES INC 2.23 0.23 (11.50%)346,752 Chart, Profile, More GLV-B.TO GROUPE LAPERRIERE & VERREAULT I 7.99 0.82 (11.44%)200 Chart, Profile, More SUE.TO SULLIDEN GOLD CORPORATION LTD 2.30 0.23 (11.11%)2,814,710 Chart, Profile, More SOT-PA.TO SPLIT REIT OPPORTUNITY TRUST, P 11.70 1.17 (11.11%)100 Chart, More GPR.TO GREAT PANTHER SILVER LIMITED 2.77 0.27 (10.80%)2,321,506 Chart, Profile, More HOC.TO HERITAGE OIL CORP. 6.49 0.63 (10.75%)18,840 Chart, Profile, More BQE.TO BIOTEQ ENVIRONMENTAL TECHNOLOGI 0.86 0.08 (10.26%)318,899 Chart, Profile, More VG.TO VG GOLD CORP. 0.99 0.09 (10.00%)1,157,489 Chart, Profile, More UXE.TO US GOLD CANADIAN ACQUISTION COR 7.64 0.69 (9.93%)86,411 Chart, Profile, More RTK.TO ARTEK EXPLORATION LTD 1.04 0.09 (9.47%)40,633 Chart, Profile, More MMZ.TO METALLINE MINING COMPANY 1.05 0.09 (9.38%)104,800 Chart, More YLD-PB.TO SPLIT YIELD II 1.10 0.09 (8.91%)6,700 Chart, More NG.TO NOVAGOLD RES INC. 16.30 1.31 (8.74%)996,272 Chart, Profile, More FCO.TO FORMATION METALS INC. 2.50 0.20 (8.70%)93,810 Chart, Profile, More HNU.TO Horizons BetaPro NYMEX Natural 7.11 0.55 (8.38%)13,619,628 Chart, Profile, More Symbol Name Last Trade Change Volume Related Info RMZ.V REMAC ZINC CORP. 0.54 0.35 (184.21%)52,834 Chart, Profile, More FEO.V OCEANIC IRON ORE CORP COM 0.70 0.39 (125.81%)4,676,249 Chart, More PV.V PROVIDENCE CAPITAL CORP 2.70 1.08 (66.67%)349,858 Chart, Profile, More SMG.V SIERRA MADRE DEVELOPEMENTS INC 0.30 0.12 (66.67%)25,000 Chart, More MLI-H.V MILLSTREET INDUSTRIES INC. 0.30 0.11 (57.89%)9,800 Chart, Profile, More MMA.V MIDNIGHT SUN CAPITAL CORP 0.28 0.09 (47.37%)2,400 Chart, Profile, More EPL.V Eagle Plains Resources Ltd. 1.08 0.34 (45.95%)4,331,415 Chart, Profile, More BLP.V BLUEPOINT DATA, INC. 0.25 0.08 (42.86%)16,250 Chart, Profile, More AVG.V AVATAR ENERGY LTD 0.65 0.19 (41.30%)19,000 Chart, More FPV.V FIRST PURSUIT VENTURES LTD. 0.19 0.05 (35.71%)15,150 Chart, Profile, More QI.V Q INVESTMENTS LTD. 0.27 0.07 (35.00%)1,500 Chart, Profile, More SSU.V SILVER SUN RESOURCE CORP. 0.27 0.07 (35.00%)2,921,437 Chart, Profile, More CBA.V Champion Bear Res Ltd 0.35 0.09 (34.62%)66,325 Chart, Profile, More CEO-H.V CLYDESDALE RESOURCES INC. 0.30 0.08 (33.33%)18,000 Chart, Profile, More AKH.V ALASKA HYDRO CORPORATION 0.16 0.04 (33.33%)10,000 Chart, More MFS.V MEDIFOCUS INC. 0.16 0.04 (33.33%)96,150 Chart, Profile, More DSY.V DESTINY MEDIA TECHNOLOGIES INC. 0.46 0.11 (31.43%)3,000 Chart, More UCC.V UPPER CANADA GOLD CORPORATION 0.42 0.10 (29.69%)1,500 Chart, Profile, More CST.V CO2 SOLUTION INC. 0.25 0.06 (28.95%)470,597 Chart, Profile, More AUN.V Aurcana Corporation 0.77 0.17 (28.33%)2,874,609 Chart, Profile, More APE.V Apogee Minerals Ltd. 0.32 0.07 (28.00%)3,731,858 Chart, Profile, More RSV.V RESOLVE VENTURES INC. 0.23 0.05 (27.78%)1,700 Chart, Profile, More ERL-H.V EARL RESOURCES LIMITED 0.14 0.03 (27.27%)10,000 Chart, More XL.V XXL ENERGY CORP. 0.28 0.06 (27.27%)28,300 Chart, Profile, More MWR.V MOUNTAIN-WEST RESOURCES INC. 0.85 0.17 (25.00%)30,200 Chart, Profile, More
Monday, December 6, 2010
TSX Gainers
Posted by Treasure Picks at 5:23 PM
BUY OR SELL-Is silver sustainable at $30 an ounce?
iShares Silver Trust
SLV
$29.51
+0.91+3.19%
3:00pm EST
JPMORGAN CHASE & CO.
JPM.N
$39.88
+0.27+0.68%
3:00pm EST
Mon Dec 6, 2010 4:49pm EST
For more Reuters BUY OR SELL stories click on [BUYSELL/]
* Silver above $30 for first time since 1980
* Gold/silver ratio falls below 48, silver seen overvalued
* $100 silver investment on Jan. 1 would be worth $180 now
By Frank Tang
NEW YORK, Dec 6 (Reuters) - As silver climbed above $30 an ounce on Monday for the first time since 1980, traders and analysts were cautiously bullish about the metal's ability to keep outperforming gold and stay at 30-year highs.
Momentum traders and retail investors have been piling into the white metal this year, which has risen with gold as a safe haven amid a eurozone debt crisis and the prospect of further monetary easing by the Federal Reserve and central banks.
Silver is also becoming a favorite play for investors betting on a swift economic recovery and greater demand for industrial commodities. Traditionally, about half of the world's silver production is consumed by manufacturers and other industrial users.
While gold has grabbed investors' attention this year with its rally to record highs at almost $1,430 an ounce, silver has quietly outpaced those gains on a percentage basis. A $100 investment in silver on Jan. 1 would now be worth about $180 versus $130 for a similar investment in gold.
^^^>
The rally in silver -- up nearly 80 percent this year versus gold's 30 percent gain -- has narrowed the gold-to-silver ratio to less than 48, its lowest level since the first quarter of 2007 and a point at which more analysts were beginning to call silver overvalued.
At over $30 an ounce, silver is at its highest level since 1980 when a physical squeeze briefly sent it above $50 an ounce in the Hunt Brothers' infamous attempt to corner the market. The Hunts were later convicted of conspiring to manipulate silver prices.
Is the traditionally volatile and speculative silver sustainable at 30-year highs?
BUY
Frank McGhee, head precious metals trader at Chicago-based Integrated Brokerage Services LLC, said silver prices are going to stay at high levels and prices could rise as high as $35 an ounce.
"The market is extremely well bid. The funds are obviously adding the support underneath the market, but the continued Chinese expansion and virtually what would have been considered run-away inflation in the U.S., if those (China) numbers were occurring here, are continuing to drive consumption.
"You've got dwindling above-ground stocks, you've got tremendous interest in the market, you've got the Fed now talking about QE3 ... all of that has silver still attempting to get back to the equivalent level as it should have been with gold at $1,400 an ounce," he said.
Physical silver held by the world's largest silver-backed exchange-traded fund, iShares Silver Trust (SLV), held near an all-time high of 10,893.68 tonnes set on Nov. 23. The U.S. Mint's American Eagle silver coins sales rose to a record above 4 million ounces in November, as economic uncertainty prompted individual investors to bet on silver and gold as safe havens. [ID:nN30490406]
"We're looking at silver moving into a deficit position next year, mainly because we continue to see the global recovery continuing and that means the industrial part for silver will grow," said Bart Melek, global commodity strategist at BMO Nesbitt Burns in Toronto.
In November, respected precious metals research and consulting firm GFMS said silver is likely to rise above $30 an ounce in 2011, lifted by strong investment buying and recovering fabrication demand.
For 2010, silver fabrication demand is expected to rise 10 percent as a recovery in industrial uses, record coin demand and slight growth in jewelry off-take offset losses in photography and silverware fabrication. [ID:nWALHME6SC]
"There're a few factors -- strong industrial demand, and mine production is not exactly setting the world on fire. Most silver is mined as a by-product of copper/zinc/lead mine production. Copper production has been disappointing, so perhaps that has affected silver output too," said David Thurtell, an analyst at Citigroup in London.
SELL
Other analysts said there are few fundamental reasons to support silver's sharp rally, and the speculative commodity could sell off quickly similar to its previous rallies.
"I am not sure what has moved this market to this 30-year high. To the best of my recollection, the use of silver has diminished over the years for different products such as photography and in the X-ray field," said George Nickas, a broker of FC Stone in New York.
"I don't know if it's (related to) the inquiry by the CFTC on the short positions of the two major banks that it has been studying over the last two years," he said.
Late in October, JPMorgan Chase & Co (JPM.N) and HSBC Holdings Plc HSBC.L were hit by two complaints from traders accusing the banks of conspiring to drive down silver prices. They claimed that the firms reaped up to hundreds of millions of dollars of illegal profits. [ID:nN27259071] Some precious metals advocacy groups claimed that governments, central banks and commercial banks have colluded to keep the price of silver weak. However, conventional investors view that as a conspiracy theory with very little evidence to back up the claim.
"These metals are getting overbought, but they seem to be in their own upside world. The fact that Bernanke said the economy may need more stimulus, and with the European debt crisis and concern about European currencies, people are buying precious metals as an alternative to currencies," said Donald Selkin, chief market strategist of National Securities Corp in New York.
"Rightly or wrongly, there is very good strength there. A lot of hedge funds have big positions in these metals, and their price has become a function of investment demand rather than demand for their usage. They've become investment vehicles with the ETFs and other investment vehicles. But, to me, it seems like a very crowded trade," he said. (Additional reporting by Jan Harvey in London,
Posted by Treasure Picks at 5:16 PM
BANKERS PETROLEUM PROVIDES UPDATE ON FLOODING SITUATION IN ALBANIA
cnw
CALGARY, Dec. 6 /CNW/ - Bankers Petroleum Ltd. ("Bankers" or the
"Company") (TSX: BNK, AIM: BNK) would like to provide the following
update on the flooding situation in Albania.
On December 4th, 2010, the banks of the Semani river which winds through the northern
half of the Patos-Marinza oilfield were breached by high water levels
due to heavy rainfall. The flooding, which extends into current areas
of development in the field, has caused Bankers to shut in 1,800 bopd
of production and shut down operations of three workover rigs and one
drilling rig. The rain has currently ceased, the river is back within
the banks, water levels are beginning to recede and as of this morning,
1,200 bopd of production have been restored. While new rainfall may add
to delays in resumption of activity, Bankers is optimistic that
activity will resume at full capacity in short order. A full
assessment of property and equipment damage is underway. Bankers is
happy to report that all employees and consultants are safe and no
injuries have been sustained. Additionally, the Company is pleased to
be assisting the local communities.
Please refer to Bankers website www.bankerspetroleum.com for pictures of the flooding.
Bankers active production on December 4th, prior to curtailing activities due to flooding, was 11,200 bopd with
multiple horizontal wells in the early ramp up stage of production and
several new wells planned for the remainder of this month.
---------
About Bankers Petroleum Ltd.
Bankers Petroleum Ltd. is a Canadian-based oil and gas exploration and
production company focused on developing large oil and gas reserves. In
Albania, Bankers operates and has the full rights to develop both the
Patos-Marinza and the Kucova heavy oil fields. Bankers' shares are
traded on the Toronto Stock Exchange and the AIM Market in London,
England under the stock symbol BNK.
Posted by Treasure Picks at 12:55 PM
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