Ann: WOA agrees to acquire assets of Prolupin GmbH, page-35

Yes the "$100m opportunity" referred to what is now a non-binding MOU with Saputo. It could still be on top of Prolupin. I read the announcements.

However I'm inclined to see the acquisition as a pivot rather than a dual approach.

I note the MOU with Saputo was only signed on 6 October 2023. So it took over 6 months to agree on a non-binding framework.
Releasing that as an announcement is convenient because it should satisfy what the asx took issue with.
Look at the language used here, it's very deliberate.





Now that has been released, the company can trade again (after a new prospectus and capital raising), then let this MOU expire on 15 December 2023 and save face.
They haven't mislead investors but no deal eventuated (production with Saputo anticipated to start 2025 btw and no mention of profits shortly afterwards that I can see).
But never mind because we now have a way to produce Buntine quicker with the acquisition. Draw a line under the last 6 months and move on.
This is absolutely a pivot. Let's review in December and see who was right.