Harvest Minerals Limited Q2 2021 KP Fértil(R) Sales (4525D)
June 29 2021 - 1:30AM
UK Regulatory
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
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