Harvest Minerals makes sales and regulatory progress

Fertiliser producer Harvest Minerals updated the market on its operations on Wednesday, reporting further additions to its internal sales and marketing team.

The AIM-traded company also said KPfértil had been granted organic registration by the Brazilian Institute of Biodynamics.

It said its product storage expansion was set to be completed in the second quarter of 2019, and explained that it was planting a new demonstration farm adjacent to the Arapuá project.

“During the year, we have been working hard to develop our brand and distribution channels for KPfértil,” said executive chairman Brian McMaster.

“Whilst contracts with distributors can allow us to leverage existing sales teams and their relationships in the market, direct sales through our own sales team are equally as important to building our brand.

“We are therefore delighted to have acquired most of the existing sales, support and marketing team at Geociclo to support this strategy.”

McMaster said the team had already made “excellent progress”, establishing first sales.

Additionally, with KPfértil's recently-granted organic status, he said the company was anticipating that to further enhance sales performance.

“We are pleased with the progress of the plant since it was commissioned,” McMaster added.

“We are planning the expansion of our product storage capacity, which will be fully funded from available cash resources.

“We have recently slowed production due to early commencement of the rainy season, but the idiom 'every cloud' is even more true in our case as our customers are expecting a bumper harvest this year, which will mean they should be out in force to buy more KPfértil next year.”