A major investor in British fracking has suffered a catastrophic fall in share price as protesters continue to fight attempts to drill the countryside in pursuit of shale gas.
Allan Campbell has now resigned as chief executive of AJ Lucas in Australia after two decades at the helm, as the company heads perilously close to the rocks. “It is time for me to move on to the next chapter of my life,” he said.
The Sydney-based mining company is a founding investor in Cuadrilla, the company leading the fracking initiative in Britain. It was also among the first to gamble on hydraulic fracturing, and at its height in 2008 was trading at more than Au$5.50 per share.