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Miagi, please point out when I said different. I have always said that ENSA is a standalone agreement. Just another reason, no one is bidding for CGP.
One further thought. Say Solgold does not acquire CGP, then no one else bids.
Nothing changes, and CGP have to start finding money, not the full amount, as the larger part, can be taken from profits, once we are producing. But after DFS, they are required to find a considerable sum.
This is a lot more complex.

Good afternoon rcgl2, broadly agree with everything you have said, however one important part missed out. ENSA is not just about ownership, it's about governance, as you say, the only way ENSA can be monetised, is by going to production. But this means that Solgold are in charge of the process, as they hold the permits within ENSA. Solgold does not own them, in their own right. ENSA is a standalone agreement. If CGP is sold in it's entirity, then the company that buys CGP, needs to gain the agreement of Solgold, as laid out in ENSA. As ENSA does not automatically transfer as part of the company. ENSA is not owned by CGP, just the same, as if SOLG doesn't meet ENSA's rules on governance, we lose ENSA.

Good morning rcgl2, not a silly question at all.
OK, I will answer you, by referring to the Fortune oil takeover, they achieved 75%, through two Chinese families working in concert. Fortune oil owned 25% of China gas, the second biggest company in China, and we were forced to sell our shares, with a market cap of less than 300 million. That was about 1/80th of the NPV. it was disgraceful. My fault and I learnt a lot. Never invest in a AIM company that has the share register tied up.
If a company acquires 50% of Solgold. they can keep the share price low, people get fed up over time, and they sell out. I would do that as well. However I don't believe that will happen to Solgold.
NM will expand the share register, maybe invite Barrick, he will hopefully acquire CGP, and their 7.6% of Solgold shares.
NM can successfully defend all takeovers, except a very large bid, where the other interested parties, say " you know what I will take that". That's why we are going to production, as no one is going to table a very large bid.

Well summed up Schlemiel, however us impotent investors, can assess a company's value, and guess, what percentage of that value, will translate to market cap. I don't even think a first bid would be a pound after PFS. I will go further, I don't believe their will be any bid, until something on the book changes.

You know the score Schlemiel, what does your inner investor tell you, do you believe, that an opening bid from anyone, would be around the 55 pence mark.

My point Ice, is that predictions like this, are rubbish. They have ran some metric, or bunch of metrics, and not taken anything else into account. BHP, are much smarter, than to table a bid of 55 pence. No one would sell for that.

Quite right iceberg, maybe they should have listened to what NM said yesterday on getting market cap more in alignment with NPV, after DFS.

55 pence, will not happen, as a bid, BHP, knows it will be rejected.

Yes ssmith_trader, and done in the proper way.

Hello rcgl2, I started off as an electrician, electrical engineer, and have been involved in many house builds, they nearly all came in on budget, as the loans couldn't be advanced until certain inspections were carried out and signed off.

One more thing Jerry, and this is not fact, but I got the idea, that NM had more to say today, and as he stopped and thought on a few points during the presentation, I have a feeling that the September 9th presentation, will maybe see him expand further, and dare say, if anything important, we will have an RNS beforehand.
Just a feeling from listening and watching him.

I wasn't going to say that Jerry, but I also had that thought, I suspect NM will hire his own technical director, to be in overall charge, and so keep control of the build. But would make sense to hire the project managers for different aspects of the build, from someone like BHP or another company, lots of experienced people out there, who are out of work. because of Covid, or engineering teams with big companies, who are currently doing nothing and being paid, who would be glad of the work.

agreed Schlemiel. All the best.

Good evening Schlemiel, you make a good point, to answer your question, if NM can obtain the finance to build this, then the answer is yes, if he cannot the answer is no. Building a mine is not as complicated as people make out, thousands of mines have been built, throughout the years the process has been improved, and new technological advances are made all the time. You will find that if you hire an experienced technical director, he will use project managers he has worked with, and were successful, they in turn, will hire the technical teams that they have used in the past and delivered. In turn the call will go out to engineering teams and individual engineers, who they have worked with, and the Labor will be hired locally, which will be the largest contingent. So the answer to your question, is do you believe NM can raise the finance. I do.

Hello Schlemiel, first of all you hire the technical director responsible for the high level design documents, you break them up into individual projects, hire relevant project managers, you hire the relevant technical teams, to run the build and produce the low level design documents, then you hire the engineers to implement, and also the labor to build. Of course Solgold can do this.

Good afternoon Jerry, he continues to go to production, changes will occur on the BOD on finance, and expertise to build the mine. Appointments soon, also he answered a question on the FN money, and it is contingent on a list of criteria being met, and we are nearly there. He also is going to run many tasks in parallel, to speed up getting Alpala up and running. More news to come.

ssmith_trader, read his posting history, you won't believe it either. If NM says he doesn't know, how come his broker knows.

Fruitbat, I don't believe you, you are making this up. No broker is that stupid.

Fruitbat, that's complete rubbish, NM just said, the funding deal sign off was contingent on criteria, not even NM knows when.

OK, he is transitioning the BOD, to become a build and mining company.