REG - Harvest Minerals Ltd - First Quarter 2022 KP Fértil® Sales Performance

Harvest MineralsAnnouncement

30/03/2022 07:15

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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® 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®, 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®

 

Brian McMaster, Chairman of Harvest, said: "2022 has started with a bang and
demand for KP Fértil® 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®, 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
(http://www.harvestminerals.net/)  or contact:

 

 Harvest Minerals Limited            Brian McMaster (Chairman)   Tel: +44 (0) 203 940 6625

 Strand Hanson Limited               James Spinney               Tel: +44 (0) 20 7409 3494

 Nominated & Financial Adviser       Ritchie Balmer

 Tavira Securities                   Jonathan Evans              Tel: +44 (0) 20 3192 1733

 Broker

 St Brides Partners Ltd              Isabel de Salis             Tel: +44 (0) 20 7236 117

 Financial PR                        Ana Ribeiro

                                     Oonagh Reidy

 

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