Business
Corporate Update
Corporate Update.
About this update from Harvest Minerals Limited
[{"type":"text","content":"\n \n \n RNS Number : 1057I\n Harvest Minerals Limited\n 31 March 2020\n \n \n \n Harvest Minerals Limited / Index: LSE / Epic: HMI / Sector: Mining31 March 2020Harvest Minerals Limited ('Harvest' or the 'Company') Corporate Update Harvest Minerals Limited, the AIM listed remineraliser producer, is pleased to provide an update on corporate and operational developments, as well as an update in response to the COVID-19 pandemic ('COVID-19' or 'the pandemic'). To view the announcement with the illustrative maps and diagrams please use the following link: http://www.rns-pdf.londonstockexchange.com/rns/1057I_1-2020-3-30.pdf Highlights· COVID-19o No impact yet on Harvest's operations, but continue to monitor closelyo Series of measures implemented to keep staff, customers and local community safe · Financialso Debt free, positive working capital position of AUD$9.7 million as at 31 December 2019 - a strong balance sheet o Annual Financial Results to 31 December 2019 now expected in late Q2 2020 - delay due to the pandemic· Sales and Marketingo Sales and Marketing teams expanded to provide coverage in two new geographical areas o Orders up 150% to the end of February 2020 compared to the same period last year · Operations and Sustainabilityo Expansion of both footprint of the operating mine and product storage facility underwayo Planting 18,000 native trees during 2020 to become a carbon free company Brian McMaster, Executive Chairman of Harvest stated, \"We are currently in the wet season in Brazil, a traditionally quieter period for us, and so our operations have not yet been directly impacted by the global pandemic. However, we do know that Brazilian farmers are taking advantage of the weaker Reais, which has fallen by 17% this year against the US$, and that they have already pre-sold 20% of this year's soybean harvest. Naturally, this is driving an increased demand for fertilisers; forecasts suggest a 3% growth in fertilisers this year. The weaker Reais also means that imported fertiliser prices are higher and that the supply chain is currently disrupted; this may strengthen our proposition as a local producer. \"However, we are living in unprecedented times and whilst there have been no repo...