Further to my previous post, wherin I mentioned Stanco, Stanco lent WAK something like $200,000 years ago to give the project a fillip (probably to to get the pilot plant up and running, plus whatever else needed to be done to help a dream move closer to a reality. Stanco specialises in supplying the glass industry with feedstock, and I imagine a great deal of what WAK has sold to date has gone to Stanco via Dak Tai Trading. Further, Stanco has taken $1.5m worth of shares in the recent CR. I find it very difficult to believe that WAK is worth less than the 15c that Stanco paid for shares via the CR. I have written this without checking the facts, but I belive the gist of the message is correct (the 15c per share valuation).
On gilded geese, the obvious interested party could be the likes of Imerys and KaMin. The latter started in the US, added to its sources of kaolinite by acquiring Cadam in Brazil, and as tripods are more stable than dipods, adding a significant third geography like Australia would catapult KaMin to be a power house in the kaolin game. Then there is Stanco, who could have similar dreams, but less specific to kaolin (that is, specivfic to whatever is a glass=making feedstock, which means amongst other things, silicate). About half of what WAK now has no value for is the degritted silicate earmarked for backfill, but Management has on rare occasions hinted at monetising some of that.
That WA Kaolin is going to do very well in the long term, I have no doubt. Whether retail investors are going to share in that success is another matter. That is where the risk lies, in my mind.
