Harvest Minerals Limited ARAPUA FERTILISER PROJECT - POSITIVE UPDATE (5886D)
28 April 2017 - 4:00PM
UK Regulatory
TIDMHMI
RNS Number : 5886D
Harvest Minerals Limited
28 April 2017
28 April 2017
Harvest Minerals Limited
("Harvest" or the "Company")
ARAPUA FERTILISER PROJECT - POSITIVE UPDATE
Harvest Minerals Limited, (AIM:HMI, "Harvest" or the "Company")
is pleased to provide an update for its 100% owned Arapuá
Fertilizer Project (the "Project") in Minas Gerais State,
Brazil.
Highlights
-- Final Exploration Report submitted;
-- Trial mining permit extended whilst the full mining license
application process is underway; and
-- Agronomic test work ongoing with initial results due shortly.
Final Exploration Report Submitted
Harvest has submitted the Final Exploration Report ("FER") on
the Project to the Departamento Nacional de Produção Mineral
("DNPM"), which details all of the geological, metallurgical and
agronomic work Harvest has completed at the Project to date.
The FER is required as part of the application process for a
Full Mining License ("FML"). Once the DNPM has approved the FER,
Harvest has up to a year to submit a feasibility study and make an
application for a FML and thus approval of the FML is not expected
until late 2018 at the earliest.
In addition to lodging the FER, Harvest has submitted the
extension to its current trial mining permit (Guia de Utilização)
which was originally due to expire on 28 April 2017 which is then
automatically extended. The extension allows Harvest to continue to
operate under the terms of its trial mining permit whilst the FML
application is being considered.
Operations & Testwork Updates
Mining operations are currently ongoing on site and
approximately 45,000 tons of material has been mined and stockpiled
to date.
Harvest has commissioned a range of agronomic tests, including
on traditional summer crops of carrots and potatoes. The Institute
of Agricultural Research of Cerrado ("IPACER") is supervising these
tests. The Company expects to start harvesting the initial crop of
carrots and potatoes at the end of May 2017, with biometric
analysis expected to take place in June. Additionally, Harvest
intends to commence test work on traditional winter crops of maize
and beets in May/June subject to planting conditions.
Additionally, as previously announced, Harvest is conducting
agronomic test work on immature and mature coffee plantations with
Veloso Agropecuária Empreendimentos E Participações Ltda.
("Veloso") and laboratory test work with the Federal University of
Uberlândia ("UFU"). Harvest expects that the first round of results
from UFU should be available by late May 2017 and that the
biometric analysis of the plants with Veloso should be completed by
July 2017.
Generally, the planting season in Brazil for summer crops
commences in between August and September each year. Accordingly,
the traditional buying period for summer fertilisers is in the
month or so leading up to that period. Harvest considers that the
expected timing of these test results aligns well with this
traditional buying period.
Follow link to view Figure 01 - Juvenile coffee plants and
coffee beans at the start of April 2017
http://www.rns-pdf.londonstockexchange.com/rns/5886D_-2017-4-27.pdf
Follow link to view Figure 02 - Testing KPfértil on potato
plants at the IPACER agronomic test facility. April 2017.
http://www.rns-pdf.londonstockexchange.com/rns/5886D_1-2017-4-27.pdf
Commenting on the update, Executive Chairman of Harvest, Brian
McMaster stated:
"Commencing the process of obtaining a Full Mining License is an
important step and being able to operate under our existing license
criteria in the interim means no interruption to business. The test
work that has been underway for some months is progressing well and
the forthcoming release of results should represent a further major
milestone for the Company."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
Enquiries:
Harvest Minerals Brian McMaster, Tel: +44 20 7495
Limited Chairman 4323
Strand Hanson James Spinney Tel: +44 20 7409
Limited (Nominated Ritchie Balmer 3494
& Financial Jack Botros
Adviser)
Mirabaud Securities Rory Scott Tel: + 44 20
LLP (Broker) 7878 3360
Beaufort Securities Jon Bellis
Ltd Tel: + 44 20
(Joint Broker) 7382 8300
Grant Barker
Whitman-Howard
Ltd Tel: + 44 20
7659 1225
This information is provided by RNS
The company news service from the London Stock Exchange
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