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Myriam Robin

Cashbox no more: Molopo spends $48 million

Myriam RobinSenior Writer

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For much of the past year, nominal oil-and-gas company Molopo Energy has, by virtue of having no current operations, been suspended from trading on the ASX. But its trapped shareholders did have one thing going for them: a $65 million pot of money in the company's bank account that attracted takeover interest from Geoff Wilson's Wilson Asset Management and activist investor Nick Bolton's Aurora Funds Management. But that pot of gold is, alas, no more.

Last week, Molopo revealed just how little is left in the bank, infuriating its largest shareholder.

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Myriam Robin is a senior writer based in the Melbourne newsroom. She has previously been a Rear Window columnist and editor, and before that reported on financial markets and media. Connect with Myriam on Twitter. Email Myriam at myriam.robin@afr.com

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    Original URL: https://www.afr.com/rear-window/cashbox-no-more-molopo-spends-48-million-20180511-h0zxhx