From what i understand NST will have an M&A with 80% of De Grey....

From what i understand NST will have an M&A with 80% of De Grey. So what will happen to the other 20%. Will De Grey be re-listed again it's the 20% asset. I'm guessing the remains are those excluded from its final MRE eg its JV with Novo Resources. Currently, De Grey's share price is a close equivalent to its x .119 conversion to NST. This makes the remaining 20% value zero which is not possible. Am I missing something? Or is De Grey share price undervalued?