First page: "First production from Wickepin Stage 1 commenced in October 2022, with production increasing towards the target of 200,000 tonnes per annum rate in the months since"
Second page: Table 1: Kaolin Produced and Bagged YTD 2,310.7 in FY2023.
With this production volume, increasing to the target of 200k tone would take hundreds of years?
Clearly, these numbers doesn't add up very well. WAK either has production problem, or has sales problem, and there is no transparent here.
When I read these PFS or prospectus, these numbers looks so good--- 200k production per annum, more than $100 gross profit, a money printing machine. However, WAK has burned more than 60 million dollars in investment (42 million before relist, plus 18 million for stage 1), now it has a market cap of $50. It has not created value for share holders so far, and something is wrong.
WAK Price at posting:
13.5¢ Sentiment: None Disclosure: Not Held
