Cash-strapped WA wave power company suspended from ASX


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The cash-strapped company that received WA government funds despite not meeting milestones attached to a wave power project has been suspended from trading on the Australian stock exchange for failing to lodge its half-year financial report.


It emerged in parliament in September that Carnegie Clean Energy had not cleared any hurdles connected to the Albany project, but the following month it still got the first milestone payment of $2.625 million.


Last month, Carnegie submitted its funding plan for the project to the state government and Premier Mark McGowan was tight lipped when asked about it on Thursday, only saying it was being reviewed by cabinet.


Article source: https://www.smh.com.au/world/africa/how-much-would-you-pay-for-a-moon-rock-20181011-p5093i.html?ref=rss&utm_medium=rss&utm_source=rss_world

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