Murray Cod Australia today stated that the recent fish deaths on the Darling River had no impact on the company’s fish stocks.
The company mentioned the recent fish kills in the Menindee area that has affected the townspeople along the Darling River. There have been constant fish killing taking place due to Low Dissolved Oxygen event associated with the rapid die-off of an algal bloom along this section of the river. The event explained the breakout of severe drought conditions in several parts of Australia.
With respect to this situation, Murray Cod Australia Limited (ASX: MCA) confirmed that there had been no effect on their fish stocks. The company said that the occurrence of these events have been really distressing to everyone, but they had made no impact on MCA’s Australia Production for the current year or coming year.
These events are reportedly isolated to the Darling River which is suffering severely from low water flows. The company’s total production is based on Murray River Systems and Murrumbidgee, and MCA claims to have sufficient allocation of high-quality water via permanent distributions and temporary transfers to ensure our production into the future. These river systems are fed from the Snowy Mountains Region of South Eastern Australia that are higher rainfall environments coupled with snow melts that makes the water supply very reliable.
It further stated, given the geographical separation of the different river systems there is no way that the events in the Darling River currently occurring will impact the supply or quality of fresh water to Murray Cod Australia’s production farms.
As per the company’s information, MCA grows its fish stocks in purpose-built ponds with high-quality aeration systems and uses proprietary technology to monitor water quality on a daily basis. And because of the high-end technology and protocol adopted by the company significantly brings down the risk of fish mortality events such as the one taken place in Darling River.
To the people suffering in this event, MCA conferred its support and said that it hopes that these distressed regions receive rainfall soon that will help return the rivers to the flows that should be expected.
Murray Cod Australia Limited is primarily engaged in fish farming, hatchery business, cage systems, and nursery business. Consumer staple company, MCA operates through the hatching, growing, and selling of Australian native freshwater fish. The stock of the company got listed on Australian Securities Exchange in March 2011.
In today’s trading session, Murray Cod’s stock price fell 5.128% to last trade at $0.185 on 10 January 2019. But over the past 12 months, MCA stock price has grown to more than double, +170.83%.
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