As I have said, would post anything, pro or con that I found...

As I have said, would post anything, pro or con that I found that was beneficial or was concerned about. I have also said, I value the nay sayers as they can provide leads for people to DYOR…my only concern with the nay-sayers (or Pro-Sayers if I am Nay), has always been how they put that information across.

Apologies in advance for the length, I hope it isn’t confusing or totally wrong. Please check anything here. Cross referencing dates/people etc was a nightmare and had me confused at times. Been working on this a little while over last few days when I had spare time.

After looking way back through the thread, something tweaked my interest. (It was RS was the King of raising funds).

Whilst I have looked into Transeuro, and why they sold a potentially lucrative play, and have previously posted the details I am happy with why they sold…they needed funds for Karl 1).

My interest was tweaked about Honoratus.
Honoratus Investments (now a GDN Company)
Previously Honoratus Holding Pty Ltd?

What did I find out about Honoratus Holdings Pty Ltd.
1. A Cyrus Listed Company, formed by an Australian Investment Company. (we knew that)
2. Number of shareholders = 1 (But this is not confirmed, as the information seems to have been removed or is not available anymore)
3. Nothing else.

So what I would like to know is? (Questions, and not accusations)
1. Who owned Honoratus Holdings Pty Ltd?
2. When was Honoratus Holding Pty Ltd formed?
3. How many shareholders were there actually?
4. Who was that shareholder or top 20 if there was others?
5. We paid, 300,000,000 shares, and 300,000,000 options for the rights to POV. How did Honoratus get the rights to POV, and commit to drilling prior to this?
6. We are supplying the $M1.5 to Transeuro, for the beneficial interest under the HoA, as an interest free loan with $500k already advanced. (now an inter-Company Loan)
7. If Honoratus is Ostana or whoever? why didn’t GDN deal directly with Transeuro? Have we just paid $M9 to an entity for something we could have paid $M1.5 for if we dealt directly with Transeuro? If Honoratus Holdings had any money, they would have gone for it..POV?, If they didn’t have money, Transeuro could have looked for a new JV partner?
8. Please elaborate on the “Corporate Relationships”….”that led us to acquire Honoratus”?
9. Does / Did any present employee/Director have or had any holding in Honoratus Holdings Ltd?
10. I cannot find anything (prior to GDN taking over Honoratus), that Honoratus paid for the JV Farm In with Transeuro, acquiring the interest in POV, so what have we just given 300m shares and 300m options ($9M approx.) for…a piece of paper, and an intention? Other than being “A Company established by an Australian Investment Company” and agreeing to farm in, but with no money to do so???

Let’s say for arguments sake, GDN Heads are 2cps, and options 1 cps
300m heads = 6 million $
300m Options = 3 Million $
1.5 Million $ will be total payments from GDN (Honoratus Investments) under the HoA.

So we are now at $M10.5 million $ + Costs of Drill ($M10) = $M20.5 + Contingencies of 10% = $M22.5 Million Dollars? + Even Low Productions Costs of $M3 = $M25.5

Has money (value) moved hands when there was no need and to whom?

STOP PRESS:
http://www.cypruscompanyregistry.com/index.php
Honoratus Investments Ltd Registered 4 July 2011 – Registration Number C 289963
Search Term = Honoratus
With Caution (must be the same, or GDN brought Honoratus Holdings Pty Ltd in July, without notifying shareholders?) Is this a correct assumption?

Hmmm, thinking now……Speculative Events:
4 July 2011 – Make a Company in Cyprus
August 2011 to Dec 2011 – Make agreement (JV) with a Company with an asset. Maybe this asset is perhaps in the Ukraine. (do you have any money to fulfil those obligations of the JV?)- Sell that Agreement to another Company? – Maybe an Australian Exploration Company?

Jan 2012 – Sell your JV interest to that Australian Exploration Company for $M9 of value, with them picking up costs of agreement details $1.5mil.

Jan 2012 – An Australian Explorer now has an asset of potential value….But a nice way of making a lot of money for whoever owned the Cyprus Company. 5-8 months and $M9 later…ching ching.

POV is an asset..Im loking into how/why/from whom we got at , and at what price.

Please read my disclosure/signature block. My position moved to HOLD. (my risk)