Black Mountain Energy, an oil and gas exploration company, is considering delisting from the Australian Securities Exchange due to challenges in raising funds and a declining share price.
The St Georges Terrace-based company aims to seek shareholder approval for the delisting decision in February 2024.
Executive Chair Rhett Bennett emphasised the undervaluation by the ASX and urged shareholders to support the delisting, stating that it is in the best interest of all stakeholders to disassociate market capitalisation from the underlying asset value.
The delisting process is expected to be completed in early March 2024.