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2.0¢ wide open agriculture ltd

They bought this plant for the Buntine protein, not the lupin.

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Torbreck

12,632 Posts.

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19/10/23

16:28

Post #: 70431673
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Originally posted by Norfolk101 ↑

100% a major factor. I'm getting out for the following reasons:
1. It could be halted again at any point with their announcements (obviously on the ASX radar) as I can't see any improvements in management performance.
2. Prolupin is rubbish, it's a failed lupin company in liquidation and they just bought some idle assets. How are some WA yokels that were suspended for 6.5 months going to run something in Europe AND make a case for lupin that the Germans couldn't?!
3. With the purchase of Prolupin assets for 4.2m cash, they'll be raising the same amount if not more again in a quarter. Remember they're burning ~5m a quarter now, and that's without this acquisition so add more OPEX costs now in EURO's
4. Buntine/Lupin protein still has no customers or a commercial reality now after 2 years....if it was so great post R&D and with the copious pilot plant samples, then where is any revenue from it by now. If Saputo don't agree to buy something/anything in December then that's it really.

All the best to those with a thicker skin and more to risk!

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They bought this plant for the Buntine protein, not the lupin.

WOA Price at posting: 17.0¢ Sentiment: Buy Disclosure: Held
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Last 2.0¢		Change 0.001(5.26%)		Mkt cap ! $4.47M

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Price($)	Vol.	No.
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0.020	103979	2
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Last trade - 16.10pm 29/05/2024 (20 minute delay)


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