That is the market.
If BLK can produce 20,000 - 25,000 oz for the quarter under $1300/oz, then you are right. You could see $0.40 - $0.50 per share.
However, if they produce sub 20,000 oz for the quarter and the company has less than $25M in cash at the end of the quarter, then there will be more selling pressure and $0.20 per share is possible.
There is no doubt that Institutional shareholders do not believe or have faith in management.
The only way to fix this is by performance. I still think that a capital raise will have to occur by the end of the year. It will have to be $10M+.
Those who buy now, will be rewarded if the perform two fold. Risk/Reward.
DYOR
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