WA Kaolin (ASX:WAK) flagged a slower-than-expected increase in sales due to a moderation in Asia's construction industry, according to a Thursday filing with the Australian bourse.

The mineral explorer and developer said cost measures, efficiencies, and product improvements have been implemented to address this. It expects more steady increases in sales of both existing and new products in the coming year across Asian markets such as China, Malaysia, Thailand, and Vietnam.

The Classifier, a key project to unlock higher sales, is said to be on budget and near completion.

Further, WA Kaolin recently completed its tranche-two placement to raise AU$3.9 million. It aims to pool a further AU$1.1 million once the Foreign Investment Review Board's approval is granted, the filing stated.

WA Kaolin's shares were down nearly 6% in recent Thursday trade.

Price (AUD): $0.05, Change: $-0.0030, Percent Change: -5.66%