REG - Harvest Minerals Ltd - Sales and Corporate Update

Harvest MineralsAnnouncement

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RNS Number : 8785M  Harvest Minerals Limited  16 June 2025

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

16 June 2025

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

 

KP Fértil® Sales and Corporate Update

 

Harvest Minerals Limited, the AIM listed fertiliser producer, provides the
following sales update of its organic, multi-nutrient, direct application
fertiliser, KP Fértil®, from its 100% owned Arapuá Fertiliser Project in
Brazil ('Arapuá'), together with a wider corporate update.

 

OVERVIEW

 

§ Total volume ordered to 31 May 2025 reached 12,300 tonnes, including 8,165
tonnes invoiced and delivered.

§ Sales improved in April and May due to the Company's "Momento Certo"
("Right Timing") sales campaign and anticipation of a stronger seasonal second
half.

§ Despite witnessing improvements, Brazil's agricultural sector still remains
challenging given limited credit access. Harvest is maintaining a conservative
commercial approach, by restricting sales to higher-risk clients to protect
cash flow and reduce potential future default risk

§ Harvest continues to make progress on credit recovery from historical
purchase orders currently in default.

§ PVW Resources Limited has neared completion of its initial exploration work
on the Company's REE potential and a separate announcement will be made in
regard to this in Q2.

§ Harvest continues its strategic review to explore and evaluate a range of
alternatives, including the potential sale of one or both business divisions,
to maximize shareholder returns.

Brian McMaster, Chairman of Harvest, said: "While the market remains
challenging, our 'Right Timing' sales campaign has helped drive engagement
with about 12,300 tonnes of sales orders so far. As we enter the traditionally
stronger seasonal period, we are well positioned to build on this momentum. We
remain focused on maintaining financial discipline, recovering outstanding
credits, and exploring strategic opportunities to strengthen our position and
maximize shareholder value as we navigate the year ahead. We thank PVW
Resources Limited for their efforts and collaboration to date and look forward
to updating the market shortly in relation to this work. We continue our
strategic review to explore a range of alternatives, including the potential
sale of one or both business divisions, with the objective of maximizing
shareholder returns and positioning the Company for sustainable growth".

FURTHER INFORMATION

Fertiliser division

From January 1 to May 30, 2025, Harvest booked orders of 12,298 tonnes KP
Fértil® while it invoiced and delivered 8,165 tonnes in the period. Sales
were stronger in the months of April and May as a response of sales campaign
"Momento Certo" ("Right Timing"), which ran to end of May 2025 and in
anticipation of the stronger seasonal period of second semester of the year.
At this point, Harvest continues to budget volume guidance at 70,000 tonnes of
its of KP Fértil® for 2025.

The Company continue to make progress in credit recovery, having renegotiated
to date R$1.6 million (c. £210,000) with a portion of it already settled and
the remainder scheduled for payment throughout 2025. Additional recoveries are
being pursued through legal proceedings

In Q1 2025, Brazil's agricultural sector continued to face financial
challenges due to limited credit access and high debt levels accumulated since
2022. While signs of recovery continue to emerge many producers and
distributors remain under pressure. In response, Harvest Minerals maintained a
conservative commercial approach, limiting fertilizer sales to those deemed as
higher-risk clients, thereby protecting cash flow and preserving financial
stability. As the second half of the year is typically stronger for sales, the
Company is closely monitoring market developments and preparing new marketing
campaigns to capitalize on any improvement in demand.

Divisional strategic review

As reported on March 17, 2025, Harvest continues to undertake a strategic
review to explore and evaluate a range of alternatives, which could ultimately
include the potential sale of one or both business divisions (Fertiliser and
REE Divisions), to maximize shareholder returns.

 

**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               Ritchie Balmer              Tel: +44 (0) 20 7409 3494

 Nominated & Financial Adviser       James Spinney

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

 Broker

 

 

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