Business
Shareholder Q&A
Shareholder Q&A.
About this update from Harvest Minerals Limited
[{"type":"text","content":"\n \n \n \n RNS Number : 5635A\n Harvest Minerals Limited\n 30 September 2020\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Harvest Minerals Limited / Index: LSE / Epic: HMI / Sector: Mining\n \n \n 30 September 2020\n \n \n Harvest Minerals Limited ('Harvest' or the 'Company')\n \n \n Shareholder Q&A\n \n \n \n \n \n Harvest Minerals Limited, the AIM listed remineraliser producer, is pleased to provide answers to a number of recently asked shareholder questions in line with its shareholder engagement policy and commitment to maintaining market transparency. \n \n \n \n \n 1. Are the grades of material sufficient to maintain KPFértil remineraliser status for the next 30 years? \n \n Yes, we have multi-decade mineral resources to ensure the long-term supply of our high quality remineraliser product and longevity of our business. \n \n \n \n \n 2. HMI is hopefully going to post a maiden profit this year. What does this mean? With all the expenses, wages, one off payments of $1m to the original vendor, taxes etc, will HMI's cash in the bank be more than at the end of the last FY? \n \n In very simple terms, profit is defined as sales less than expenses incurred in generating those sales. What Harvest has said is that the ongoing all-in costs of operating the business are equivalent to approximately 40,000t of sales / annum and therefore annual sales above that level represent profit. \n \n \n \n \n 3. Will the board be willing to issue either a year-end sales target or perhaps a comparison to last year's sales at quarterly intervals? This would better reflect the buying season. \n \n Please see the trading updates announced on 9 July 2020 and 30 September 2020. \n \n \n \n \n 4. We were told the new storage shed would be ready for the start of the sales season but have heard nothing since - is it now ready?\n \n As per the announcement released on 22 September 2020, the expansion of the mining and product storage areas is in the final stage and due to be concluded by end of September 2020, ahead of the main buying season.\n \n \n \n \n 5. Does KPFértil improve carbon capture in the soil, and therefore make it even more attractive to buyers? Yes, KPFértil has a unique composition containing phosphate, potassium, calciu...