Business
Final Results
Final Results.
About this update from Harvest Minerals Limited
[{"type":"text","content":"\n\nHarvest Minerals Limited / Index: LSE / Epic: HMI / Sector: Mining\n26 June 2025\nHarvest Minerals Limited ('Harvest' or the 'Company')\n \nFinal Results\n \nHarvest Minerals Limited, the AIM-listed organic fertiliser producer, is pleased to announce its audited Final Results for the year ended 31 December 2024, extracts from which are set out below. The Company's Annual Report & Accounts will today be uploaded to Harvest's website, and the accounts posted to shareholders, where appropriate.\n \nNATURE OF OPERATIONS AND PRINCIPAL ACTIVITIES\nDuring the financial year, the principal activity of the Group was mineral exploration and production of organic natural fertiliser at its Arapua Fertiliser Project. The Group currently holds mining and agricultural related projects in Brazil.\n \nREVIEW OF OPERATIONS\nArapua Fertiliser Project (Arapua)\nArapua is the Company's principal business unit and currently its sole source of revenue. The Company's focus during the year, and in prior years, has been progressing commercial production and revenue generation.\n \n2024 continued in the same vein as 2023 and proved to be a challenging year for the Company and its key project, Arapua. Following the record high global fertilizer prices seen in 2022, the Company has now experienced 2 full years of substantially below expectation performance.\n \nTotal sales for the year were 37,186 tonnes, which included 1,591 tonnes of orders placed in 2023, but delivered, and therefore recognised as revenue, in 2024. The poor trading experienced by the Company during 2024 was substantially as a result of macroeconomic issues and outside the control of the Company. Consequently, throughout 2024, the Company reduced the scope of its activities in an effort took to reduce cash burn. \n \nAs part of the efforts to reduce the Company's cash burn rate, the Directors agreed to pause drawing their remuneration due from the Company during Q3 2024 until such point as the Company's finances allow payment. As at the date of this report, the pause in payment of remuneration remains in place.\n \nSergi Potash Project & Iguatama Limestone Project\nGiven the challenges being experienced at the Arapua project, the Company did not advance either its Sergi Potash Project or its ...