MARKETS

WAM backs off

MOLOPO Energy has one less suitor to worry about after WAM Capital yesterday withdrew its intention to buy the junior, barely two months after making its 13.5cps bid because of the oiler’s Florida ambitions which another investor tried to stop.

Florida, the place causing so much consternation among Molopo's investors.

Florida, the place causing so much consternation among Molopo's investors.

WAM's initial November 8 offer included a "no material transactions" condition stipulating Molopo not incur more than $2 million of expenditure, which the junior's December 11 update on its Orient FRC...

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