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WA Kaolin Ltd.
(Sydney:WAK)
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Rating:41Neutral
Price Target:
AU$0.01
▼(-45.00% Downside)
Action:Upgraded
Date:05/21/26
The score is driven primarily by weak financial performance—loss-making operations, negative operating cash flow, and high leverage—despite strong revenue growth. Technicals further weigh on the score with the stock trading below all major moving averages and negative MACD. Valuation provides limited offset because the negative P/E reflects ongoing losses and there is no dividend yield data.
Positive Factors
Revenue Growth
Nearly doubling revenue shows the company is progressing from exploration toward commercial traction or successful resource delineation. Sustained top-line expansion strengthens project economics, attracts partner interest and underpins longer-term funding or offtake discussions necessary for development.
Negative Factors
Profitability Weakness
Very low gross margin and ongoing negative operating and net margins indicate structural cost or pricing pressure. Even with revenue growth, persistent unprofitable operations impede internal funding of development, reduce ability to reinvest, and challenge the path to sustainable, shareholder‑accretive production.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Nearly doubling revenue shows the company is progressing from exploration toward commercial traction or successful resource delineation. Sustained top-line expansion strengthens project economics, attracts partner interest and underpins longer-term funding or offtake discussions necessary for development.
Read all positive factors
WA Kaolin Ltd. (WAK) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$13.86M
Dividend YieldN/A
Average Volume (3M)185.80K
Price to Earnings (P/E)―
Beta (1Y)0.79
Revenue Growth203.53%
EPS Growth10.13%
CountryAU
Employees8
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.01
Shares Outstanding2,310,161,600
10 Day Avg. Volume557,388
30 Day Avg. Volume185,796
Financial Highlights & Ratios
PEG Ratio0.05
Price to Book (P/B)2.66
Price to Sales (P/S)4.01
P/FCF Ratio-3.38
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
WA Kaolin Ltd. Business Overview & Revenue Model
Company Description
WA Kaolin Limited, an Australian company founded in 1998 and based in East Rockingham, focuses on identifying and advancing an estimated deposit of kaolin-rich granite across Australia. The firm holds the rights to the Wickepin Kaolin project, loc...
How the Company Makes Money
WAK’s intended revenue model is to monetize kaolin resources by developing a project into a producing operation and generating income from the sale of kaolin products to industrial customers. In practice, for an exploration/development-stage compa...
WA Kaolin Ltd. Financial Statement Overview
Summary
Income Statement
45
Neutral
Balance Sheet
30
Negative
Cash Flow
40
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 8.80M | 5.75M | 2.58M | 1.46M | 1.17M | 1.21M |
| Gross Profit | -3.76M | 407.54K | -6.46M | 1.09M | -3.83M | 261.82K |
| EBITDA | -7.77M | -5.91M | -11.75M | -1.02M | -5.33M | -17.87M |
| Net Income | -9.37M | -7.81M | -13.58M | -3.75M | -7.55M | -20.67M |
Balance Sheet | ||||||
| Total Assets | 36.97M | 39.68M | 36.63M | 43.35M | 32.62M | 25.74M |
| Cash, Cash Equivalents and Short-Term Investments | 774.22K | 3.58M | 751.88K | 3.09M | 6.36M | 10.92M |
| Total Debt | 27.59M | 25.84M | 25.45M | 29.48M | 24.33M | 20.40M |
| Total Liabilities | 33.38M | 31.02M | 30.66M | 33.55M | 27.15M | 23.61M |
| Stockholders Equity | 3.59M | 8.66M | 5.97M | 9.80M | 5.47M | 2.13M |
Cash Flow | ||||||
| Free Cash Flow | -7.69M | -6.81M | -13.56M | -12.08M | -15.95M | -11.81M |
| Operating Cash Flow | -6.68M | -4.79M | -10.70M | -5.04M | -5.13M | -3.81M |
| Investing Cash Flow | -1.01M | -2.02M | 4.83M | -7.04M | -10.83M | -8.00M |
| Financing Cash Flow | 7.49M | 9.64M | 3.52M | 8.81M | 10.68M | 19.90M |
WA Kaolin Ltd. Technical Analysis
Negative
0.02
Price Trends
0.02
Negative
0.02
Negative
0.03
Negative
Market Momentum
>-0.01
Positive
0.33
Positive
5.00
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:WAK, the sentiment is Negative. The current price of 0.02 is above the 20-day moving average (MA) of 0.02, above the 50-day MA of 0.02, and below the 200-day MA of 0.03, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 0.33 is Positive, neither overbought nor oversold. The STOCH value of 5.00 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:WAK.
WA Kaolin Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
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% | |
46 Neutral | AU$16.41M | -35.00 | -4.78% | ― | ― | 16.67% | |
46 Neutral | AU$19.52M | -13.19 | -26.29% | ― | ― | 76.73% | |
45 Neutral | AU$21.22M | -6.08 | -27.04% | 20.51% | ― | -11.11% | |
41 Neutral | AU$13.86M | -0.43 | -152.86% | ― | 203.53% | 10.13% | |
41 Neutral | AU$7.08M | -1.13 | -42.24% | 270.27% | ― | 40.33% | |
40 Underperform | AU$6.02M | -3.13 | -36.71% | ― | ― | 25.33% |
* Basic Materials Sector Average
AU:WAK
WA Kaolin Ltd.
0.01
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-75.00%
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0.01
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0.12
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Boadicea Resources Ltd.
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Allup Silica Ltd.
0.01
>-0.01
-42.86%
WA Kaolin Ltd. Corporate Events
WA Kaolin Halts Trading After Major Customer Order Cancellations
Jul 29, 2026
WA Kaolin Ltd has requested a trading halt on its securities on the ASX after receiving a cancellation notice covering a significant volume of customer orders. The halt will remain in place until either an announcement is released on the impact of...
WA Kaolin Brings Forward Wickepin Plant Upgrade to Boost Reliability
Jun 8, 2026
WA Kaolin has accelerated a planned improvement program at its Wickepin processing plant, bringing forward works originally scheduled for July to the week of 8 June 2026. Around $0.5 million from a recent capital raising will be invested in upgrad...
WA Kaolin appoints new director with disclosed related-party ties
May 28, 2026
WA Kaolin Limited has appointed James Anthony Staples as a director effective 27 May 2026, with the company disclosing that he holds no direct or indirect securities in the business at the time of his appointment. The filing also notes that Staple...
WA Kaolin Director Matthew Shackleton Steps Down
May 28, 2026
WA Kaolin Limited has announced that director Matthew William Shackleton has ceased to be a director of the company as of 27 May 2026. The company lodged a final director’s interest notice with the ASX, indicating that Shackleton held no reg...
WA Kaolin Formalises Board Change as Director Catherine Lynch Steps Down
May 28, 2026
WA Kaolin Ltd has announced that Catherine Lynch has ceased to be a director of the company as of 27 May 2026, according to a final director’s interest notice lodged with the ASX. The notice indicates that Lynch held no relevant interests in...
WA Kaolin Shares to Resume Trading After Board Changes Disclosure
May 27, 2026
Trading in WA Kaolin Ltd shares is set to resume on the ASX from the start of trade on 28 May 2026, after a period of suspension. The reinstatement follows the company’s release of an announcement detailing changes to its board, signaling a ...
WA Kaolin Reshapes Board and Moves to End ASX Suspension
May 27, 2026
WA Kaolin has overhauled its board, with non-executive directors Catherine Lynch and Matthew Shackleton resigning, and Shackleton stepping down as non-executive chairman. Managing director Alf Baker has been appointed interim chairman, as the boar...
WA Kaolin Shares Suspended as ASX Flags Board Compliance Breach
May 27, 2026
The Australian Securities Exchange has suspended WA Kaolin Limited’s shares from quotation after the company fell below the minimum number of directors required under the Corporations Act. ASX concluded that WA Kaolin’s current structu...
WA Kaolin Director Boosts Indirect Holding in Capital Raising
May 26, 2026
WA Kaolin director Andrew Sorensen has increased his indirect stake in the company through Andrew Sorensen Holdings Pty Ltd, subscribing for 2,000,000 new ordinary shares in a placement priced at $0.01 per share and receiving 1,000,000 unquoted op...
WA Kaolin Director Deepens Stake via Entitlement Offer
May 26, 2026
WA Kaolin has reported a substantial increase in director Alfred Baker’s indirect holding following participation in a recent equity raising. Through Silver Tropic Pty Ltd, Baker acquired 115 million new shares and 57.5 million unquoted opti...
WA Kaolin Launches Entitlement Offer as Part of Balance Sheet Restructure
May 8, 2026
WA Kaolin Ltd has outlined details of a fully underwritten pro-rata non-renounceable entitlement offer of new fully paid ordinary shares with free attaching options to eligible shareholders. The capital raising is described as part of a broader ef...
WA Kaolin lifts recapitalisation push as low-margin sales pressure profits
May 7, 2026
WA Kaolin reported that its March 2026 quarter remained below optimal production, with sales of 9,787 tonnes generating $1.97 million in revenue, equating to about $194 per tonne and remaining below its production cost of roughly $258 per tonne. T...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.