Ann: KZR and Karora to IPO their Major Li Projects, page-3

Too hard for me to work out what this means for current KZR value, but I'll have a go. No guarantee that my calculations are valid.
Current market cap is $20m (at 13c).
If IPO brings in $10m, value of Kali might be $20m ($10m plus Li prospects).
If KZR owns 55% at IPO, that could be worth $11m, or say $10m after costs.
That would mean that KZR may be market valued at $10m for gold and $10m for Li.
The gold is clearly undervalued, at less than $7/oz.
Lithium may be undervalued as above, and the IPO could raise more, specially if exploration success comes in before the IPO.
So, looks to me like there's plenty of upside for KZR from 13c.
I'm hanging on for now.