The zinc price used for mineral reserve estimation was US$0.85 per pound. This is from HudBay Minerals site and this is important because HBM will probably take over BMK.

Now let see what BMK actually could have and I think that BMK has that, HBM like CLF is not coming because of nothing, just remember FWR story and what they found and CLF and take over on the end. So here it is:

The 26 hole, 4,471 meter drill program consisted of a series of holes designed to test electromagnetic ("EM") anomalies on three fold limbs associated with sequences containing volcanogenic massive sulphide (VMS) mineralization of substance (as described by Hadyn R. Butler, P.Geo) and having characteristics similar to the Matagami or Noranda VMS camps in Quebec, where larger VMS deposits with satellite deposits along strike were found. This conclusion is also supported by C. Tucker Barrie PhD, P.Geo who, accompanied by the Company's Vice President of Exploration Quentin Yarie, P.Geo, has just completed a comprehensive on-site review of previous nickel and VMS drill core and exploration data. The historical production and resource from the Matagami Camp was 25 million tonnes grading 0.56% copper, 8.2% zinc and 20.91 g/t silver.

At the end of 2009, proven reserves totalled 6.2 Mt grading 0.4% copper, 8.4% zinc , 3.4% lead and 104g/t silver. Probable reserves stood at 2.2Mt grading at 7.6% Zn, 3.0% Pb, 0.3% Cu and 84g/t Ag.

So let say that BMK can prove 5 Mt of zinc and if I take price of $0,85 then I will come close to 7 or 8 Billion $$$ worth. And if I know FWR story and that CLF took over FWR for $1 pps, I can think that HBM reasonable offer will be all shares offer for let say 1 HBM share for 20 BMK shares. So I will follow closely HBM price right now. HBM is very good comopany so 40$ next year is reachable and that means that BMK will be take over for $2 pps, still better than 2007 prices. I am sure that low ball offer could not come under 60 Cents because of warrants at 50 Cents. On the other side I think that HBM is much more friendly company so $2 for BMK is possible. If they prove what I think that they have then we are having here 10 Bagger stock!!! Longs will be rewarded on the end so hold on to your shares and buy on dips!!!

GLTA!!!