Result of AGM

RNS Number : 0921X

Harvest Minerals Limited

21 November 2017

 

21 November 2017

Harvest Minerals Limited

("Harvest" or the "Company")

Results of Annual General Meeting

The Company announces that all resolutions put forward at its Annual General Meeting held earlier today, as set out in the formal Notice of Annual General Meeting dated 20 October 2017, were duly approved by shareholders.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

Enquiries:

Harvest Minerals Limited	Brian McMaster, Chairman	Tel: [phone]
Strand Hanson Limited (Nominated & Financial Adviser)	Rory Murphy James Spinney Ritchie Balmer	Tel: [phone]
Mirabaud Securities LLP (Joint Broker) Beaufort Securities Ltd (Joint Broker) St Brides Partners Ltd	Rory Scott Jon Bellis Isabel de Salis Olivia Vita	Tel: + 44 20 7878 3360 Tel: + 44 20 7382 8300 Tel: [phone]

Notes:

Harvest Minerals (HMI.L) is a South American focused fertiliser Company targeting low cost, near term development projects.  The Company's primary focus is the development of its 100% owned Arapua Fertiliser Project from which it produces its KPfértil product, a proven, multi-nutrient, slow release, organic fertiliser and remineraliser, which is produced from a weathered potassium and phosphate rich lava and offers many economic and agronomic benefits.  Covering 14,946 hectares and located in the heart of the Brazilian agriculture belt in Minas Gerais, Arapua is a shallow, low cost mine with an indicated and inferred resource of 13.07Mt at 3.1% K₂O and 2.49% P₂O₅.  This resource translates into a mine life of over 100 years at a rate of 450k tonnes per annum and crucially is based on drilling just 6.7% of the known mineralisation, leaving significant upside potential.  With a trial mining licence in place allowing Harvest to extract 50kt of product on a rolling basis, whilst the full mining licence application process is underway, and official registration of KPfértil as a remineraliser expected by the end of 2017, Harvest is ideally placed to address the significant demand for locally produced fertiliser in Brazil; Brazil has abundant agricultural land but lacks domestic fertiliser, with the country currently importing 90% of the potash it uses.  Furthermore, the Brazilian government has set a target to be self-sufficient in fertilisers by 2020, creating significant market opportunity for Harvest and its KPfértil product.

The Company has four assets at various stages of development and continues to explore other opportunities that fit its investment criteria.

 

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