Today, RZZ announced the reserves of 117 miilion oz for the Charlie zone. They get 2% NSR, which is $4M+ at the current price of gold ($1750/oz).
So Charlie itself should be about 45 cents a share.
From Sean Rosen's presentation at Denver Gold, there is 1.2M oz waiting for us (that is 30% of the total 4M oz) in the Barnat + Jeffrey.
Even at a sily conservative $500/oz profit, the value of that gold is $600M. We are talking $60 per share.
Market irrational? You bet.