TIDMHMI

RNS Number : 4525D

Harvest Minerals Limited

29 June 2021

Harvest Minerals Limited / Index: LSE / Epic: HMI / Sector: Mining

29 June 2021

Harvest Minerals Limited ('Harvest' or the 'Company')

Q2 2021 KP Fértil(R) Sales

Harvest Minerals Limited, the AIM listed remineraliser producer, is pleased to provide an update on sales of its organic, multi-nutrient, direct application fertiliser, KP Fértil(R), during Q2 2021 from its 100% owned Arapua Fertiliser Project in Brazil ('Arapua').

Highlights:

   --    17,854 tonnes of KP Fértil(R) sold in Q2 2021: 

o 12% higher than management target of 16,000 tonnes.

o Represents a 174% increase in total tonnage compared to Q2 2020.

   --    Q2 sales performance keeps Company on track to meet 2021 sales target. 

o Accumulated 2021 sales at 26,726 tonnes compared to 9,861 tonnes in H1 2020, or 171% increase.

o In 2020, 82% of the total sales were placed in the second half of the year, which has stronger sales seasonality.

   --    Further step-up in sales of KP Fértil(R) targeted: 

o Marketing campaign for coffee, sugarcane, and other crops launched in May 2021.

o Initial sales of newly added higher margin 25kg bag option.

Brian McMaster, Chairman of Harvest, said: "Having sold 26,726 tonnes of KP Fértil(R) in the first half of the year, which represents a 171% increase over the same period of 2020, I am delighted to have outperformed our internal target and pleased to report that we remain on track to sell 80,000 tonnes for 2021. While much of this performance reflects the positive momentum of the agriculture sector in Brazil, credit should also be awarded to the operational accomplishments delivered over the past two years at the mine site including production, marketing, and logistics. I look forward to a robust performance over the second half of the year, which is seasonally the strongest period for the business."

Review of Operations

During the second quarter of 2021, Harvest sold 26,726 tonnes of its KP Fértil(R), representing a 174% increase over the sales realised in the same period of 2020, and despite the continuing challenges imposed by the pandemic. The total accumulated sales in the first half of the year achieved 26,726 tonnes compared to 9,861 tonnes in H1 2020, a 171% increase. It should be noted that the Company is now entering a traditionally strong sales period; in 2020, 82% of the total sales were placed in the second half of the year. With this in mind, t he Company is maintaining its year-end sales target of 80,000 tonnes of KP Fértil(R).

The Company's team includes 12 associates/agronomists split into two regional teams, which is now also supported by its third-party network comprising 20 resales' centres. In May 2021, this team launched a new marketing campaign for coffee, sugarcane, and other crops, and boosted the Company's efforts towards the new marketing channels opened since it added the higher margin 25kg bag option that targets small to medium sized farmers and resellers. The Company has also started to actively market its KP Fértil(R) in other regions beyond its immediate market in Minas Gerais and Sao Paulo.

In terms of market fundamentals, notwithstanding the impacts of the COVID-19, the performance of the Brazilian agriculture sector continued to be robust over the period and several sector associations forecast double digit growth in most of the crops targeted by Harvest.

**ENDS**

For further information, please visit www.harvestminerals.net or contact:

 
 Harvest Minerals Limited   Brian McMaster         Tel: +44 (0)20 3940 
                             (Chairman)             6625 
 
 Strand Hanson Limited      James Spinney          Tel: +44 (0)20 7409 
  Nominated & Financial      Ritchie Balmer         3494 
  Adviser                    Georgia Langoulant 
 
 Shard Capital Partners     Damon Heath            Tel: +44 (0)20 7186 
  Broker                                            9900 
 
 St Brides Partners Ltd     I sabel de Salis       E : info@stbridespartners.co.uk 
  Financial PR               Charlie Hollinshead 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

UPDQKLBLFQLFBBL

(END) Dow Jones Newswires

June 29, 2021 02:30 ET (06:30 GMT)

Harvest Minerals (LSE:HMI)
Gráfica de Acción Histórica
De Feb 2024 a Mar 2024 Haga Click aquí para más Gráficas Harvest Minerals.
Harvest Minerals (LSE:HMI)
Gráfica de Acción Histórica
De Mar 2023 a Mar 2024 Haga Click aquí para más Gráficas Harvest Minerals.