TIDMHMI

RNS Number : 3725N

Harvest Minerals Limited

29 September 2021

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

29 September 2021

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

Third Quarter 2021 KP Fértil(R) Sales

Harvest Minerals Limited, the AIM listed remineraliser producer, is pleased to provide an update on its KP Fértil(R) sales performance during the third quarter of 2021 from its 100% owned Arapua Fertiliser Project in Brazil ('Arapua').

Highlights:

   --    Accumulated sales as at end of September 2021 reached 93% of entire 2021-year target 

o 74,159 tonnes sold from Jan-Sep 2021 - compares to 80,000 tonnes target for 2021

o 196% increase over same period of 2020

   --    46,166 tonnes of KP Fértil(R) sold in Q3 2021 

o 5% higher than management budget of 44,000 tonnes

o represents a 165% increase in total tonnage compared to Q3 2020

   --    Strong sales performance expected for the remainder of the year. 

Brian McMaster, Chairman of Harvest, said: "Our performance year to date substantially exceeds our prior sales estimate and we are now at 93% of our previous sales target for the entire 2021. We anticipate sales to remain strong in the last quarter of the year and therefore expect to surpass our original sales target. Our performance continues to be a result of the quality of our product. our marketing campaigns associated with a well-planned production and storage schedule and importantly the talent and dedication of our team. I look forward to reporting a robust performance for the remainder of the year while our team start to plan our path for further growth in 2022 and beyond."

Review of Operations

During the third quarter of 2021, Harvest achieved a total sales volume of 46,166 tonnes of its KP Fértil(R), representing a 165% increase over the sales realized in the same period of 2020, and despite the challenges imposed by the pandemic. The total accumulated sales in the first nine months of the year achieved 74,159 tonnes compared to 37,906 tonnes for the January - September period in 2020. Such sales performance accounts for 93% of the total sales target budgeted for the entire 2021.

The extensive marketing campaign launched in May 2021 for coffee, sugarcane and other crops, along with an effective schedule of production have been the key catalysts to boost KP Fértil(R) sales performance. Sales of the higher margin 25kg bag option initiated in June 2021, targeting small to medium sized farmers and resellers, have also started to contribute to the overall performance. New and ongoing marketing activities have focused on placement of our KP Fértil(R) in other regions beyond our immediate market in Minas Gerais and Sao Paulo

**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                    Jack Botros 
 
 Shard Capital Partners     Damon Heath        Tel: +44 (0) 20 7186 
  Broker                                        9900 
 
 St Brides Partners Ltd     I sabel de Salis   Tel: +44 (0) 20 7236 
  Financial PR                                  117 
 

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END

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(END) Dow Jones Newswires

September 29, 2021 04:18 ET (08:18 GMT)

Harvest Minerals (LSE:HMI)
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