Half Yearly Report and Accounts

• Revenues up 256.9% to $5.4 million
• Loss from ordinary activities up 44.6% to $5.1 million
• Comprehensive loss up 44.6% to $5.1 million

WA Kaolin Limited reported its financial results for the half-year ended 31 December 2025. The company recorded a net loss after tax of $5,055,426, up 44.6% from the prior corresponding period. Revenues from continuing activities were up 256.9% to $5,415,241. The company's financial position as at 31 December 2025 showed cash reserves of $774,215 and a net asset position of $3,592,719. This decrease in net assets was primarily driven by the absorption of cash reserves into working capital to support operational requirements at the Wickepin facility during the period. The company undertook several operational and corporate initiatives, including transitioning to in-house continuous mining, executing a binding offtake agreement for 2026, and restructuring its debt and Board of Directors. However, plant availability and unplanned maintenance challenges resulted in production falling short of internal targets. The company has since suspended trading to facilitate a recapitalisation to address the working capital shortfall.