Ann: Letter from CEO providing business update, page-13

Lupins are circa A$500/t while soybeans are closer to A$800/t+ at the moment, so not quite the same.

Regarding the alkaloids, they released this information in their first product information form (May 2021). Buntine protein has 20mg / Kg of alkaloids which is low comparative to most legumes. Unsure about the lectins.

I think this is the finished protein concentrate product you’re referring to and they’ve recently provided guidance that they expect pricing to be higher than what was initially expected (A$10k/t) after looking at what Prolupin was selling their product for, which was a fair bit higher. Crude lupins are priced substantially lower than this around the A$500/t, however a number of input costs go into turning it into the higher value product.