17:00 Thu 26 Jul 2018
Harvest Minerals Ltd - Strategic Alliance with Major Fertiliser Company
26th
to Sell KPfértil
Highlights:
· Strategic alliance with internationally recognised Geociclo will enable:
o KPfértil, Harvest's
o Access to new agricultural regions in
o Unrestricted access to Geociclo's MAPA accredited research and trial production facility, expected to expediate the development of any future products
o Storage of significant quantities of KPfértil in Geociclo's storage facilities
· Geociclo is established in the Brazilian fertiliser sector having worked with international organisations including the
· Geociclo's facilities are located in Uberlândia in
"With the recent receipt of MAPA approval for KPfértil, we will continue to focus on sales and our objective of expanding production capacity at Arapua to build revenue and shareholder value."
Further Information
The Agreement provides Harvest with an immediately expanded sales and marketing team in a geographic location not currently covered by Harvest's sales activities. At present the Geociclo sales team, including 11 full-time sales professionals and associated administrative assistants, sell the Geociclo product, Geofert, exclusively. Pursuant to the terms of the Agreement, the sales staff will now market and sell KPfértil alongside Geofert. These products are not direct competitors and it is expected that by marketing the products together, it will increase overall market penetration for both.
Under the terms of the Agreement, Harvest has direct access to Geociclo's research staff and facilities to develop, produce and market new fertiliser products. Geociclo has a dedicated in-house research facility supported by a team of 10 specialists. Access to these facilities provides Harvest with the opportunity to work directly with farmers, distributors, blenders and other prospective clients to develop products specific to crop requirements of individual customers. Additionally, Harvest will be able to conduct test work in order to tailor and enhance KPfértil, enabling the Company to target new markets. The Board of Harvest believes that access to Geociclo's resources will positively impact the efficiency of future test work and product development.
Additionally, Geociclo also holds a 150ktpa MAPA registered processing plant and an associated storage facilities warehouse, which Harvest will be permitted to store substantial quantities of its product at this facility, in effect creating a sub-depot.
Geociclo Biotechnologia S/A:
Geociclo was established 11 years ago to develop, produce and distribute a range of organic mineral fertilisers. Over this period it has gained national and international recognition for its innovative work in organic fertilisers working alongside renowned institutions such as UFU (
The company has a main office, sales and marketing team as well as a research and development department in the city of Uberlândia in
The company's main production facility is 35km from the city centre. It comprises two production lines which were recently expanded to produce 150Ktpa of its main product, Geofert. Geofert comprises organic waste matter, micronutrients and an organic biodegradable polymer which is pelletised to produce a slow release organic NPK fertiliser.
Further information about Geociclo can be found on its website: http://www.geociclo.com.br
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014
*ENDS*
For further information please visit www.harvestminerals.net or contact:
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Tel: +44 (0) 20 7317 6629 |
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Strand Nominated & Financial Adviser |
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Tel: +44 (0)20 7409 3494 |
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Arden Partners plc Joint Broker |
Paul Brotherhood |
Tel: +44 (0) 20 7614 5900 |
Joint Broker |
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Tel: +44 (0) 20 7186 9900 |
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Financial PR |
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Tel: +44 (0)20 7236 1177 |
Notes
This is based on drilling just 6.7% of the known mineralisation, leaving significant upside potential. This resource is equivalent over 29 years' production and the known mineralisation expected to support 100+ years' production at 450,000 tonnes per annum.
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