Harvest Minerals Limited Q1 2021 KP Fértil Sales Update (5714V)
15 April 2021 - 5:41PM
UK Regulatory
TIDMHMI
RNS Number : 5714V
Harvest Minerals Limited
15 April 2021
Harvest Minerals Limited / Index: LSE / Epic: HMI / Sector:
Mining
15 April 2021
Harvest Minerals Limited ('Harvest' or the 'Company')
Q1 2021 KP Fértil(R) Sales Update
Harvest Minerals Limited, the AIM listed remineraliser producer,
is pleased to announce a strong Q1 2021 sales performance for KP
Fértil(R), an organic, multi-nutrient, direct application natural
remineraliser, which the Company produces from its 100% owned
Arapua Fertiliser Project in Brazil ('Arapua'). KP Fértil(R)
contains many of the essential nutrients and minerals required by
plants and, unlike most fertilisers, can be applied directly to
crops without the need for complex processing or chemical
alteration.
Highlights:
-- 8,872 tonnes of KP Fértil(R) sold in Q1 2021:
o more than 10% higher than management budget of 8,000
tonnes
o represents a 166% increase in total tonnage compared to Q1
2020
-- Q1 sales performance keeps Company on track to meet 2021 sales target
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 to
be launched in May 2021
o Expanded sales team and new target regions planned for Q2
2021
Brian McMaster, Chairman of Harvest, said: "We are very pleased
with our sales performance over the first quarter of the year,
especially during these challenging times as the pandemic continues
to impact the lives and overall economic activity within the
regions in which we operate. Thankfully, Brazil's agribusiness
continues to show why it is considered by many as the "Breadbasket
of the World" and the prospects are remaining very favourable. The
8,872 tonnes sold in the period represents a significant increase
compared to Q1 2020 and an increase on current budget. We have
built a solid platform over the past two years from which to
deliver increased growth and I look forward to updating
shareholders as we progress in due course."
Review of Operations
During the three first months of 2021, Harvest's sales
performance achieved a total volume of 8,872 tonnes sold of its KP
Fértil(R), representing a 166% increase over the sales realised in
Q1 2020, despite the challenges imposed by the pandemic.
In 2020, 82% of the total sales were placed in the second half
of the year, which has stronger sales seasonality. This year,
Harvest boosted its sales team to eleven associates/agronomists
split into two regional teams, which also now counts with the
support of a third-party network comprised of 20 resales' centres.
In addition, a marketing campaign for coffee, sugarcane and other
crops is planned to be launched in the upcoming month of May
2021.
While we are cautious that the COVID-19 pandemic can potentially
impact Brazil's agribusiness activity, so far, the sector continues
to persistently grow, and Harvest is well positioned to reap the
benefits of a strong agribusiness sector.
As previously reported, some of the key initiatives underway by
our marketing and operational teams, include:
-- Sales Marketing campaign to be launched in May 2021 for coffee and other crops.
-- Increased focused on sugarcane plantations given the very positive agronomic test results.
-- Expansion of sales efforts into new crops.
-- Registration with the Minister of Agriculture for sales of KP
Fértil(R) in smaller bags (i.e. 25Kg) to cover the gardening, small
producers, general retail markets and resales, which drive higher
margins
-- Logistics optimisation plan to enhance the price competitiveness of Harvest's product.
**ENDS**
For further information, please visit www.harvestminerals.net or
contact:
Harvest Minerals Limited Brian McMaster Tel: +44 (0) 203
(Chairman) 940 6625
Strand Hanson Limited James Spinney Tel: +44 (0) 20
Nominated & Financial Ritchie Balmer 7409 3494
Adviser G eorgia Langoulant
Shard Capital Partners Damon Heath Tel: +44 (0) 20 7186
Broker 9900
St Brides Partners Ltd I sabel de Salis Tel: +44 (0) 20 7236
Financial PR Charlotte Hollinshead 117
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