Harvest Minerals completes first placing and sales, touts "robust order book".

Ikaba Koyi Sharecast | 12 Oct, 2017 16:14 - Updated: 16:14 | | |

sirius potash polyhalite

Harvest Minerals

n/a

n/a
n/a
n/a

Fertiliser development company Harvest Minerals said it has completed a placing to support the building of the sales pipeline at its Arapua fertiliser project in Brazil while simultaneously touting a "robust order book".

The placing, according to the company, totalled £1.2m at 10p per share with first sales having been achieved before obtaining its remineraliser registration with customers such as coffee growers, orchard and broad acre crop farmers.

Harvest also described its order book, made up of 20 direct consumers, distributers, blenders and co-operatives, as "robust" and said the number and size of orders was expected to increase upong registration of KPfertil as a remineraliser by the Brazilian Ministry of Agriculture (MAPA), Livestock and Supply - which was expected at the end of the fourth quarter.

For his part, Harvest's executive chairman, Brian McMaster, said: "Completing the first sales of KPfértil prior to the certification by MAPA, is a testament to the market's recognition of its capabilities.

"The sales team in Brazil has been working hard to develop multiple sales channels and that hard work is now generating returns.

"There may be additional sales ahead of certification but it is anticipated that the bulk of our robust potential order book, currently standing at over 20 independent farmers and corporations, will cross the line quickly after certification", said McMaster.

More news

08:24 Capita's sale of Asset Services arm nears completion

Capita expects to complete the sale of its Asset Services businesses to Link Administration a week on Friday.

08:21 Pendragon warns on profit amid weaker new car demand

Car dealership Pendragon warned on Monday that full-year profit will be hit by weaker new car demand and pricing on used cars, as it announced that chairman Mel Egglenton has stepped down with immediate effect.

08:03 Electra Private Equity eyes new flexible approach, declares another dividend

After completing a strategic review and reverted to internal management of its investments, Electra Private Equity has decided "current market conditions do not support new investment" and so proposed handing back most of its cash and dropping its focus on private equity to become "more flexible".

08:02 CRH gets shareholder approval for Ash Grove deal

Building materials company CRH is set to push ahead with its $3.5bn acquisition of US cement manufacturer Ash Grove Cement after receiving shareholder approval for the deal.

07:51 AstraZeneca diabetes drug gets FDA approval

AstraZeneca said that the US Food and Drug Administration has approved a new formulation of its type-2 diabetes treatment Bydureon.

07:41 GlaxoSmithKline's Shingrix gets US FDA approval

GlaxoSmithKline said on Monday that the US Food and Drug Administration has approved Shingrix for the prevention of shingles in adults over 50.

07:38 Renewi sees full-year results 'significantly above' previous expectations

Waste-to-product business Renewi said on Monday that results for the year are expected to be “significantly above” its previous expectations following a particularly strong performance in September.

07:33 London pre-open: Stocks to nudge lower as pound gains ground

London stocks were set to nudge a touch lower at the open on Monday as the pound gains ground against the dollar and the euro.

07:31 Spire rejects rival's advances, Renewi raises expectations

London open The FTSE 100 is expected to gain roughly six points on Monday, according to traders in the City, having closed the prior week at 7,523.23.

07:20 Spire Healthcare rebuffs offer from Mediclinic

Spire Healthcare has rejected a cash-and-shares offer from fellow private hospital operator Mediclinic International.