BRZ currently cheapest entry into MSB JV, page-22

Interesting development:

1.35% of Maricunga is currently valued at 2,03 million in LPI.
(1% = 1.50 million)

17.67% of Maricunga are currently valued at 14 million market capitalization in BRZ
(1% = 0.79 million).

( Both companies are known to have other holdings that are disregarded here,
as well as a more accurate conversion of the two currencies,
since almost similar )

What is wrong here ( also in my calculation ? )​