REG - Harvest Minerals Ltd - Q1 2023 KP Fértil® Sales Update

Harvest MineralsAnnouncement

18/04/2023 07:00

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RNS Number : 5232W  Harvest Minerals Limited  18 April 2023

 

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

18 April 2023

Harvest Minerals Limited

('Harvest' or the 'Company')

 

Q1 2023 KP Fértil® Sales Update

 

Harvest Minerals Limited, the AIM listed fertiliser producer, is pleased to
provide an update on Q1 2023 sales of its organic, multi-nutrient, direct
application fertiliser, KP Fértil®, from its 100% owned Arapua Fertiliser
Project in Brazil ('Arapua').

 

HIGHLIGHTS

·    Sales orders received total 16,755 tonnes versus budget of 12,000
tonnes

·    Sales orders invoiced and delivered total 3,560 tonnes

 

Brian McMaster, Chairman of Harvest, said: "The start to 2023 is consistent
with our internal planning expectations but notably a slower start than 2022,
where concerns over the situation in the Ukraine accelerated buying
decisions.  This "normalising" of buying patterns seems consistent throughout
the industry and not specific to us.  The fundamentals of our position in the
market have not changed: we have a unique, highly effective, 100% organic
fertiliser and we continue to grow our customer base and order book.  As
such, we maintain our view that we will deliver our 2023 year-end invoiced
sales target of KP Fértil 200,000 tonnes."

 

REVIEW OF OPERATIONS

Q1, 2023, Harvest has received sales orders for 16,755 tonnes of its KP
Fértil® produced at its Arapua Fertiliser Project in Brazil.  Whilst the
sales orders for Q1, 2023 are lower than Q1, 2022, it is clear that the war in
the Ukraine had accelerate buying decisions during 2022, (as was speculated).
Accordingly, as the Company returns to previously established buying cycles,
it remains on track to achieve its 2023 year-end invoiced sales target of
200,000 tonnes of KP Fértil®, which is a 33% increase over that recorded in
2022.  During Q1, the Company also witnessed a decrease in prices for
conventional fertiliser products.  To date, this has not impacted Harvest's
selling price, but the Company anticipates that as the year progresses prices
will become a more critical part of the buying decision than during 2022; the
Company is monitoring this and will respond to the market conditions as
required.

 

**ENDS**

 

For further information, please visit www.harvestminerals.net
(http://www.harvestminerals.net/)  or contact:

 

 Harvest Minerals Limited            Brian McMaster (Chairman)   Tel: +44 (0)20 3940 6625

 Strand Hanson Limited               Ritchie Balmer              Tel: +44 (0)20 7409 3494

 Nominated & Financial Adviser       James Spinney

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

 Broker

 St Brides Partners Ltd              Ana Ribeiro                 harvest@stbridespartners.co.uk

 Financial PR                        Isabel de Salis

 

 

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