Harvest Minerals Limited First Quarter 2022 KP Fértil(R) Sales Performance (5603G)
30 Marzo 2022 - 12:14AM
UK Regulatory
TIDMHMI
RNS Number : 5603G
Harvest Minerals Limited
30 March 2022
Harvest Minerals Limited / Index: LSE / Epic: HMI / Sector:
Mining
30 March 2022
Harvest Minerals Limited ('Harvest' or the 'Company')
First Quarter 2022 KP Fértil(R) Sales Performance
Harvest Minerals Limited, the AIM listed fertiliser producer, is
pleased to provide a trading update for its organic, multi-nutrient
fertiliser, KP Fértil(R), from its 100% owned Arapuá Fertiliser
Project in Brazil ('Arapuá').
Highlights:
-- Accumulated sales orders in Q1 CY2022 totalled 70,200 tonnes,
an increase of over 689% compared to the same period last year, and
representing:
o 82% of the total 2021 sales orders of 85,000 tonnes
o 47% of the sales target for FY 2022 (150,000 tonnes)
-- Experiencing continued increased demand for KP Fértil(R)
Brian McMaster, Chairman of Harvest, said: "2022 has started
with a bang and demand for KP Fértil(R) has increased substantially
which is a testament to the quality and efficacy of our product and
the hard work of our team in getting the message out. Our customers
are continuing to see outstanding results from the use of our
product and feedback from them remains extremely positive and
encouraging.
Additionally, we have seen improved macro conditions and an
increasing awareness of the importance of domestically produced
fertilisers all of which have been positives in the development of
our sales channels. The current and foreseeable market conditions
remain favourable, and we are constantly reviewing our position in
the market to ensure that we build a substantiable customer base
for years to come. These are exciting times and never before has
the saying that we are "in the right place, with the right
commodity at the right time" being more accurate.
Further Information:
During the three first months of 2022, Harvest continued to
experienced record breaking performance, achieving a total volume
of 70,200 tonnes of its KP Fértil(R), representing a 689% increase
over the same period in 2021. The total sales orders, to date in
2022, have reached 82% of all the sales performed in the entire
year of 2021, and 47% of 2022 sales guidance of 150,000 tonnes. In
calculating the 2022 target of 150,000 tonnes, Harvest assumed it
would sell 8,656 tonnes in the first quarter of the year. The total
sales orders of 70,200 tonnes is substantially more than initially
forecast (over a 700% increase).
Historically, Harvest has experienced a seasonal sales
performance with relatively modest sales during the start of the
year ramping up to a buying season around mid-year, tapering off to
more modest sales around the wet season at year end. Given the
historic expectation that approximately 80% of sales are seasonally
placed in the second half of the year, the Company is advancing its
plans to meet production of 200,000 tonnes.
**ENDS**
For further information, please visit www.harvestminerals.net or
contact:
Harvest Minerals Limited Brian McMaster Tel: +44 (0) 203
(Chairman) 940 6625
Strand Hanson Limited James Spinney Tel: +44 (0) 20
Nominated & Financial Ritchie Balmer 7409 3494
Adviser
T avira Securities J onathan Evans Tel: +44 (0) 20 3
Broker 192 1733
St Brides Partners Ltd I sabel de Salis Tel: +44 (0) 20 7236
Financial PR A na Ribeiro 117
O onagh Reidy
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END
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March 30, 2022 02:14 ET (06:14 GMT)
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