US company reaches end of its tether with Australian listing - Upstream Online
US company reaches end of its tether with Australian listing | Upstream Online
US energy company Black Mountain Group is delisting its subsidiary on the Australian Stock Exchange due to frustration over its market valuation and lack of recognition of its flagship oil and gas asset.
Black Mountain Energy began trading on the Australian Stock Exchange on 23 December 2021 after completing an initial public offering at A$0.20 per share.
Its share price began dropping last April to the current level of A$0.012
Related Knowledge Center: Climate economics
Climate change is now a driver of the world’s economy. The impact is profound:
- Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
- Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
- Investment in carbon capture and storage technologies is increasingly rapidly.
- Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases.
On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”