Irritant and major shareholder in Molopo, Aurora Funds Management, says it is considering the implications of a recent purchase by Molopo of a 50% stake in Orient FRC on its proposed takeover bid.
AFM announced in late July a plan, as yet unconsummated, to launch a partial takeover of the cashed-up junior with the aim of stripping cash out of the company.
The purchase in Florida will see Molopo fund 25% of a three-well drilling program in Florida for US$7 million.""
MPO Price at posting:
14.0¢ Sentiment: None Disclosure: Held
