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WA Kaolin Ltd.
(Sydney:WAK)
WA Kaolin Ltd. (WAK) vs. iShares MSCI Australia ETF (EWA)
WA Kaolin Ltd. Business Overview & Revenue Model
WA Kaolin Ltd. Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.90M | 5.75M | 2.58M | 1.46M | 1.17M | 1.21M |
| Gross Profit | -817.06K | 407.54K | -6.46M | 1.09M | -3.83M | 261.82K |
| EBITDA | -6.18M | -5.91M | -11.75M | -1.02M | -5.33M | -17.87M |
| Net Income | -7.81M | -7.81M | -13.58M | -3.75M | -7.55M | -20.67M |
Balance Sheet | ||||||
| Total Assets | 39.68M | 39.68M | 36.63M | 43.35M | 32.62M | 25.74M |
| Cash, Cash Equivalents and Short-Term Investments | 3.58M | 3.58M | 751.88K | 3.09M | 6.36M | 10.92M |
| Total Debt | 25.84M | 25.84M | 25.45M | 29.48M | 24.33M | 20.40M |
| Total Liabilities | 31.02M | 31.02M | 30.66M | 33.55M | 27.15M | 23.61M |
| Stockholders Equity | 8.66M | 8.66M | 5.97M | 9.80M | 5.47M | 2.13M |
Cash Flow | ||||||
| Free Cash Flow | -6.81M | -6.81M | -13.56M | -12.08M | -15.95M | -11.81M |
| Operating Cash Flow | -4.79M | -4.79M | -10.70M | -5.04M | -5.13M | -3.81M |
| Investing Cash Flow | -2.02M | -2.02M | 4.83M | -7.04M | -10.83M | -8.00M |
| Financing Cash Flow | 9.81M | 9.64M | 3.52M | 8.81M | 10.68M | 19.90M |
WA Kaolin Ltd. Technical Analysis
WA Kaolin Ltd. Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
52 Neutral | AU$42.95M | -3.09 | -15.13% | ― | ― | 23.60% | |
50 Neutral | AU$67.37M | -23.16 | -100.11% | ― | ― | -26.67% | |
49 Neutral | AU$70.03M | -7.01 | ― | ― | ― | -268.97% | |
47 Neutral | AU$37.91M | -13.22 | -20.13% | ― | ― | -241.18% | |
40 Underperform | AU$18.15M | -1.98 | -106.72% | ― | 90.14% | 52.54% | |
37 Underperform | AU$25.10M | -1.07 | ― | ― | 71.37% | 82.48% |
WA Kaolin Ltd. Corporate Events
WA Kaolin has secured long-term financial stability by restructuring approximately $20.4 million of existing debt with key lender-shareholders, extending maturities to December 2037 and pushing principal repayments out to mid-2027, while also adding a new $1.5 million working capital facility due in 2028. The package reduces near-term refinancing pressure and aligns the capital structure with the long-life Wickepin Kaolin Project, though some facilities are contingent on ASX waivers or shareholder approval for security, and lenders have conversion rights if repayments or interest fall into arrears. Complementing the funding, the company has locked in a binding 2026 offtake agreement with long-standing distributor Dak Tai Trading worth about US$5.57 million (A$8.6 million), with firm ordering commitments and minimum volume obligations, and enters 2026 with an order book of around 20,000 tonnes for the March quarter. However, December-quarter production of roughly 12,000 tonnes fell short of expectations due to reduced plant availability and unplanned maintenance, and management plans upgrade works during the next shutdown to address plant-wide uptime constraints and support the ramp-up needed to meet contracted volumes.
The most recent analyst rating on (AU:WAK) stock is a Sell with a A$0.04 price target. To see the full list of analyst forecasts on WA Kaolin Ltd. stock, see the AU:WAK Stock Forecast page.
WA Kaolin Ltd. has announced the appointment of Andrew Brian Sorensen as a director, effective December 10, 2025. Sorensen holds significant interests in the company, with a substantial number of ordinary shares and options, indicating his vested interest in the company’s future. This appointment may influence the company’s strategic direction and stakeholder interests, given Sorensen’s substantial shareholding.
The most recent analyst rating on (AU:WAK) stock is a Sell with a A$0.04 price target. To see the full list of analyst forecasts on WA Kaolin Ltd. stock, see the AU:WAK Stock Forecast page.
WA Kaolin Ltd has appointed Mr. Andrew Sorensen as an Executive Director, acknowledging his significant contributions since joining the company in 2006. Mr. Sorensen, who has extensive experience in sales, commercial, and marketing, will focus on driving market share growth and enhancing the company’s strategic oversight. His appointment is seen as a move to strengthen the company’s commercial growth, particularly in the Asia Pacific region, and aligns with the board’s commitment to integrating sales and marketing strategies into their decision-making processes.
The most recent analyst rating on (AU:WAK) stock is a Sell with a A$0.04 price target. To see the full list of analyst forecasts on WA Kaolin Ltd. stock, see the AU:WAK Stock Forecast page.
WA Kaolin Ltd has launched a new high-performance kaolin product named Wickefine at the ChinaCoat 2025 Trade Fair in Shanghai. This new product is specifically designed for the coatings and inks market, which is valued at approximately $733 million annually. The launch is part of WA Kaolin’s strategy to engage with Chinese and Southeast Asian markets, aiming to expand its sales and product offerings.
WA Kaolin Ltd. has announced the cessation of Sean Hu as a director of the company, effective November 21, 2025. Sean Hu held significant interests in the company with 84,756,824 ordinary shares and 10,594,603 unquoted option shares. This change in directorship may impact the company’s governance and strategic direction, potentially affecting stakeholders and market perception.
WA Kaolin Limited announced the resignation of Mr. Sean Hu as a Non-Executive Director, effective November 21, 2025. Mr. Hu cited potential corporate governance concerns due to his dual role as a board member and the representative of STANCO, a major customer and shareholder. Despite his departure, Mr. Hu expressed confidence in the company’s future and its path toward achieving production goals. The board acknowledged Mr. Hu’s contributions and strategic insights during his tenure.
WA Kaolin Limited announced that all resolutions presented at their Annual General Meeting were passed with the required majority, except for the re-election of Director Sean Hu, which was withdrawn due to his resignation. The successful passage of these resolutions reflects the company’s stable governance and may positively impact its operational strategies and stakeholder confidence.
WA Kaolin Ltd announced a correction to its previously lodged cash flow report, ensuring all sections are now complete. The company reported record sales volumes and revenue for the September 2025 quarter, driven by increased production capacity and demand for its kaolin products. A recent plant upgrade improved efficiency by 20%, with further enhancements planned to increase annual capacity to 250,000 tonnes. The company is experiencing growth across various markets, including new trials in Asia and expanded product offerings, contributing to a significant increase in sales and revenue compared to the previous year.
WA Kaolin Ltd has reported a record-breaking quarter for sales volumes and revenue, driven by increased production capacity and strong market demand. The company has successfully completed a plant upgrade, improving reliability and efficiency, and plans further capacity enhancements by the end of the year. Transitioning to in-house mining has improved quality control and reduced costs, contributing to the company’s robust financial performance. With new product launches and market expansion efforts in Asia, WA Kaolin is well-positioned for continued growth, supported by a substantial backlog of orders and increased production capabilities.
WA Kaolin Limited has announced its Annual General Meeting scheduled for November 21, 2025. The company encourages shareholders to submit proxy forms and questions in advance to facilitate a smooth meeting process. This approach aims to enhance shareholder engagement and streamline communication during the meeting, reflecting the company’s commitment to transparency and effective stakeholder interaction.
WA Kaolin Limited has released its corporate governance statement for the financial year ending June 30, 2025, which is available on their website. The statement outlines the company’s adherence to the ASX Corporate Governance Council’s principles and recommendations, highlighting its commitment to transparency and accountability. This move is likely to enhance stakeholder confidence and strengthen the company’s position within the industry.
WA Kaolin Ltd. has announced the appointment of Catherine Lynch as a director, effective October 15, 2025. The announcement is a formal disclosure of her initial interest notice, which is a regulatory requirement under the ASX listing rules. This appointment is part of the company’s governance and compliance obligations, ensuring transparency in its operations.
WA Kaolin Ltd. announced the cessation of Brady Norman Hall as a director effective October 20, 2025. This update is part of the company’s compliance with ASX listing rules, ensuring transparency in the disclosure of directors’ interests in securities. The announcement provides details on the securities held by the director, which include ordinary shares and unquoted options. This move may impact the company’s governance structure and could be of interest to stakeholders monitoring corporate governance practices.
WA Kaolin Ltd. announced the cessation of Kenneth Joseph Hall as a director, effective October 20, 2025. The notice includes details of Mr. Hall’s interests in the company’s securities, which comprise a significant number of ordinary shares and unquoted options. This change in directorship may impact the company’s governance structure and could have implications for its strategic direction.
WA Kaolin Limited has appointed Mr. Matt Shackleton and Ms. Catherine Lynch as Non-Executive Directors, enhancing the board’s expertise in finance, governance, and commercial operations. These appointments are part of the company’s strategic efforts to strengthen its leadership as it transitions into steady-state production and aims for growth, reflecting a commitment to expanding its operations and maintaining its reputation as a trusted global supplier.