You could be right but I struggle with getting my head around...

You could be right but I struggle with getting my head around the current Board profile and competencies, the lack of a compelling strategy, no sight of serious funding or even an acquisition target. They are Perth based and the dairy industry in WA has some issues to work through and has been left wanting for some time now. Even if they seek to enter the dairy market on the eastern seaboard it is a big uplift for what is now a Perth based business with one of the Directors entrenched on property north of Perth.

SNC is not a deal-maker sort of company nor are they really deal brokers, they are good at taking hold a company that has good foundations but is faltering to deliver so you cant expect them to be the knight in shining armour for 1AG.

When a good deal is put together and they are seeking funding then it might become a viable proposition but until then it is still just a punt on the back of some stirrings at the compliance / governance level with SNC joining the share register and tightening up the free float on the market. Not to deny that the stirrings have achieved an interim result of lifting the price substantially but from a market capitalisation perspective (or even an Enterprise Value perspective) the company is barely on the bourse at sub-$10m with no real strategy, no executable plan and no funding arrangements in place (e.g. cashbox for opportunities or target acquisition funding). The other things is if they are going to try and acquire distressed assets and turn them around the Board appears to lacks the experience and knowledge in business turn-arounds and organic growth approach is a long slow hard slog as has been evidenced by others who have tried it.

Hope you are right and I am wrong but lets see what time unfolds for us and we can then ponder our views in the clear light of hindsight.