Business
31 December 2015 - Quarterly Activities Report
31 December 2015 - Quarterly Activities Report.
About this update from Harvest Minerals Limited
[{"type":"text","content":"\n \nRNS Number : 4329N Harvest Minerals Limited 29 January 2016 \n\n \n29 January 2016\n \nHarvest Minerals Limited\n \n31 December 2015 - Quarterly Activities Report\n \nHarvest Minerals Limited ('the Company') is pleased to provide a summary of its activities for the quarter ended 31 December 2015.\n \nACQUISITION OF THE MANDACARU PHOSPHATE PROJECT\n \nOn 21 December 2015, the Company announced that it has been awarded two exploration licences covering the Mandacaru Phosphate Project (Mandacaru) located in Ceara State, Brazil. The Mandacaru assets compliment Harvest's portfolio in Brazil which includes the Arapua fertilizer project (Minas Gerais State), the Sergi Potash Project and the Capela Potash Project (both Sergipe State).\n \nHistorical exploration activities conducted over the property include ground radiometric survey, mapping, surface rock sampling, trenching and a 2,141 metre diamond drilling programme from 31 holes of diamond drilling. \n \nCORPORATE MATTERS\n \nDirector Appointment\n \nOn 6 October 2015, Mr Frank Moxon joined the Board of the Company.\n \nConsolidation of Securities\n \nThe listed and unlisted share capital of the Company was consolidated on a one (1) for ten (10) basis as approved by shareholders at the General Meeting of shareholders held on 17 December 2015.\n \nPlacement \n \nDuring the quarter, the Company completed a placement with new institutional shareholders to raise approximately US$3.6 million (approximately £2.4 million) before expenses at a price of 7.5 pence (post consolidation) per ordinary share (the Placing). The Placing was done through the Company's broker, Mirabaud Securities LLP. \n \nAs part of the Placing, the Company also issued one unlisted option to subscribe for one new share for every two Placing shares subscribed for by placees, each option exercisable at 8.8 pence per ordinary share at any time before 31 May 2017.\n \nUnlisted Option Expiry\n \n6,000,000 unlisted options exercisable at $0.05 expired on 31 December 2015.\n \n \nEnquiries:\n\n\n\n\nHarvest Minerals Limited\n \n\n\nBrian McMaster, Chairman\n\n\nTel: +61 8 9200 1847\n \n\n\n\n\nStrand Hanson Limited (Nominated & Financial Adviser)\n\n\nRory Mu...