Resources Stocks Down Under 5 January 2022: WA Kaolin (ASX:WAK)

WA Kaolin (ASX: WAK) is one of the few ASX companies operating in the kaolin space. Kaolin is used in many things in everyday life, such as paper, rubber, paint, ceramics, fibreglass, cosmetics and pharmaceuticals. And WA Kaolin is not an early-stage explorer, it became a newly minted producer in 2022. The company’s share price has not reflected this, falling 25% in the past 12 months. The decline begs the question: Do investors just not understand kaolin, or are there issues in the company that make it deserving of its fall?