WAK – WA Kaolin | Aussie Stock Forums

It’s now 2024 … grinding down at 7.8c

Sold a million bucks of product. … lost 5 mill … cash on hand 3 mill

a few directors out, and new ones in

sold and leased back Rockingham property

Operations
The Company is sole owner of a mining lease, a general-purpose lease, a miscellaneous licence and retention licences which comprise the Wickepin Kaolin Project. The Project, which is one of the largest known remaining kaolin resources in the world, contains an Ore Reserve of 30.5 million tonnes which is included in the Mineral Resource (reported in accordance with JORC 2012) of 644.5 million tonnes of high-grade premium kaolinised granite.

The Company conducts mining operations at its mining tenement in East Wickepin, WA and has developed a production plant to produce refined kaolin adjacent to its mining operations. The Company also has a research and development centre located at a Company-leased facility in East Rockingham, WA. At the R&D centre, the company is seeking to produce specialty products from its kaolin ore.

In August 2023, the Company established a wholly owned subsidiary in Malaysia, WA Kaolin (Asia) Sdn. Bhd., staffed by one sales and marketing person in Kuala Lumpur. The office was established in order to provide greater support and visibility to its customers throughout Asia.

During the half-year, the Company continued to stabilise its Stage 1 operations at its Wickepin plant, with kaolin products being sold to its customers in Australia and overseas. The Company has also committed to acquiring new U.S. sourced classifying equipment for its plant in order to reach nameplate capacity of its finer grades in order to boost market share.

Through stronger management in sales and marketing, the Company is seeking to expand and solidify customer relationships and at the same time focus on production and cost controls, as it seeks to achieve positive operating cashflow by the end of the 2024 calendar year.

The Company is primarily focused on establishing itself as the preferred supplier of high-grade premium kaolin products globally through:
- continued production ramp-up of its processing plant in East Wickepin, utilising the K99 Process;
- investment in new classifying equipment to refine the production process and increase the output of finer kaolin;
- progressive increase in production to circa 200,000 tonnes per annum through the plant;
- expansion of production capacity at the Wickepin plant to 400,000 tonnes per annum through the installation of a second stage of production equipment;
- negotiation of sales agreements for product on suitable commercial terms with acceptable counterparties; and
- investigating further processing expansion including the construction of an additional wet processing plant to produce product suitable for use in premium paper and packaging markets.