Ann: Wickepin Kaolin Project - Operational Update, page-5

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Mastatrada

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16/03/23

13:02

Post #: 66801094
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Originally posted by Pioupiou: ↑

The presentation states, "Forecast positive cashflow in H2 CY23". Management mooted in CR presentation ". . . we are forecasting a positive cash flow from our Wickepin operations in the first half of 2023". That seemed ambitious, so I read that to mean by 30 June 2023. That has slipped into H2 CY23, which is not a significant miss.

I have not read the reports yet, but I did notice a reference to European buyers visiting the Wickepin site. With the war in Ukraine, a significant kaolin supplier to the ceramic sector in both Spain and Italy has threatened their ability to meet customer demand for tiles, especially tiles that require high-whiteness kaolin. WAK has never before suggested that Europe could be a market, and thebuyers would not have bothered to visit Wikepin unless they were serious. In a counter-intuitiveway, good news like this could delay the cash-flow-positive date, because WAK may have to bring K99C (ceramic grade) in to production earlier than planned to horn in on the Ukraine-linked shortage of kaolin.

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Yes I read the presso after the operational update. So, at least it encourages holders to be patient for a bit longer! The quarterly will probably determine whether current SP is the bottom or not, hopefully it shows decent sales growth to avoid any further raises for working capital

WAK Price at posting: 14.5¢ Sentiment: Hold Disclosure: Held
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