Firstly Market cap @$0.099 is around $13m Revenue of $2.8...

Firstly Market cap @$0.099 is around $13m
Revenue of $2.8 million per annum from existing business (not from dairy business)

From today's announcement - "The company is conducting feasibility studies for System 5 dairy in Western Australia with an ongoing review of a number of sites including in Capel. Alterra's ambition is to be the "go to" company for large scale milk production in Western Australia - providing a cornerstone for long term domestic demand and supporting an expansion of WA dairy products into Asia."

What's important in above announcement is "ongoing review of a number of sites", so there will be further acquisitions in near future. AND "expansion of WA dairy products", so company has plans beyond milk, like yogurt, it may go for baby formula.

Apart from above highlights, its low market cap (top 20 holds 46%) makes it a very good candidate for multi bagger (should be 3 bags from here, then it depends on quality of acquisitions & announcements).

Also, dairy sector (small companies) is out of favor at the moment, so it may take 3-6 months for 3 bags.

All IMHO, DYOR