Lets Remember the MS Acess Report part below from July 2022 and...

Lets Remember the MS Acess Report part below from July 2022 and the many moving parts for this company and Demerger next month according to the report. Does any one know if this is on track? A great Lthium Drill result would be fantastic. A lot happening here. Is the company worth more after the demerger? We will find out. But all the drill results have been great.
From MST Access:
Fast-Tracking Battery Metals Project
Development with Landmark JV
Zenith Minerals (ZNC) is a highly capable, exploration-focused
company which is set to spin out a portfolio of gold and base
metals assets and focus on battery metals–exposed project
origination, exploration and advancement through the Western
Australia–based lithium projects, Waratah Well, Split Rocks and
Mt. Ida North. Our valuation of A$0.63/share compares favourably
to the current share price of $0.275
Transition to Pure Lithium – EVM JV Unlocks
Exploration and Development Potential
In January 2022, ZNC struck a transformational agreement with
EV Metals (EVM) to form a JV facilitating earn-in arrangements for
EVM over ZNC’s lithium projects at Waratah Well and Split Rocks.
Key milestones for EVM are the investment of A$7m in exploration
and the completion of a feasibility study within 24 months in
exchange for a 60% share in the lithium project. We expect to see
broader opportunities in lithium project development over time
as the partnership evolves. This could facilitate real opportunities
for ZNC to execute on its core strengths in project generation,
supported by the depth of EVM’s commercial and engineering
capability. As such, ZNC is strongly positioned to add value and
build a multi-asset lithium-focused business over time.
Demerger of Mackerel Metals (ASX: MKM) –
Spinning Off Gold and Base Metals
ZNC’s existing gold and base metals project portfolio is the focus
of a proposed demerger (primarily via an in-specie distribution)
targeted for listing by October 2022 (Mackerel Metals: ASX: MKM).
As part of this process, a $10m raise has been flagged, with
commitments in place for the majority of funds from ZNC, EVM
and existing ZNC shareholders. We expect the demerger and raise
will be well supported and form a capable, well-funded gold- and
base metals–focused exploration company with a clear pathway
to advance and develop the current portfolio (in particular Split
Rocks Gold and Develin Creek CU/Zn) and secure other project
opportunities as they arise.
Valuation: A$0.63/Share (Fully Diluted)
Our valuation for ZNC is A$0.63/share on a fully diluted basis. The
company is transforming into a lithium-focused business with a
strong partner in EVM. ZNC’s strengths in exploration and
development are critical in bringing new supplies of battery
metals to market. We believe ZNC is differentiated in this regard,
driven by a strong leadership and an innovative JV agreement.
We anticipate ZNC will position itself as a leader in battery metals
projects and will benefit from robust demand. The company has
strong prospects for significant value creation over time. Key
risks include exploration risks, access to funding, and Mackerel
spin out.