First posted 20.04.2012
2,745 farmed Chinook salmon averaging 2.1kg (~5.76 tonnes) escaped from the BC demonstration farm of the “leader in floating solid-wall containment technology”, BC-based AgriMarine Holdings Inc., following a damaging storm on March 12th, Canada’s Department of Fish & Oceans (DFO) disclosed (not AgriMarine, yet no announcement) on April 18.
This comes as the Toronto, OTCQX & Frankfurt stock-listed firm says that “[Its] floating, solid-wall marine tanks remove solid waste, prevent fish escapes and disease transfer.”
As highlighted yesterday: “this regrettable incident is noteworthy because closed-containment technologies have been hailed by many salmon farming critics and eNGOs as being ‘the future’ of marine finfish aquaculture, notably because they made fish escapes supposedly impossible…” Closed-containment endeavours are commendable indeed (though economic & sustainability aspects can be argued), but this reminds us that innovation often entails ‘trial and error’… AgriMarine’s storm-related setback was ‘sanctionned’ by investors on the Toronto exchange: stocks had plummetted 11.6% the day after the storm, and yesterday (April 19) stocks fell 8.82%: the worse drop since…
I would argue that communication should be strengthened when it comes to environmental impacts data (notably when firms make claims relating to specific performances) for everybody’s sake, and also to mitigate investors’ knee-jerk reactions.
SeafoodIntelligence readers will remember that the manner in which one communicates over operational mishaps can be heavily ‘sanctionned’ by investors; and/or even queried by authorities… In 2010, the ASX-listed tuna farming Clean Seas Tuna shares had freefallen 58.64% in a day whilst the ASX had queried the firm’s ‘awareness’ of “information […] that a reasonable person would expect to have material effect on the price or value of the entity’s securities.”