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Clot1,
You do keep letting yourself down.
I posted about active research permits/requests.
The 4 tenements that Harvest submitted 'positive' research reports no longer have research permits, they've expired.
3 expired 27th September 2023, the other 1 expired 1st October 2023 though the latter could be extended for a further 1 year, if required.
Harvest submitted 4 reports 26th September 2023
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Barlow,
I can't and wont advise anybody to buy, sell or hold any shares.
But I can say I was looking to buy in sub 4p last year.
I didn't buy, and that wasn't by luck.
Always looking for the opportunity to buy in but that wont be until at least early June or early July, though nothing to do with figures from Harvest.
If you follow posts on the other place, AD*FN, that might help?
Good Look
Barlow,
'...hoping there is a mug out there that will buy this pile of dust.'?
Refer to my post 25th Jan.
The company 'Fertimax', was awarded a mining concession 14th Aug 2023.
Thay had 6 months after award to start mining (mining code).
9th Feb 2024 Fertimax submitted a request to ANM for a delay to 'mining start'.
I would guess the reason for that would be 'current economic conditions', they've recently done similar on three peat concessions.
I expect Harvest will lodge similar requests on the 4 tenements they submitted 'positive' research reports. In those cases a request for ANM to delay approval of those reports?
Competition, availability, cheap fertiliser........just can't see anyone rushing to buy a dust company at the moment?
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'....how on earth they managed to make it through H2 without a raise or being completely down to the bone....'
Considering the cash position end H1/23....... the revenue in H2/23........ and the cash position FY/23, I'd be asking 'where has the money gone?
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'...last year started at 200000T, to 120000T, to 70000T and actually came in at 34000T.'
No, it didn't come in at 34000T!
It started last year at 200tonnes as 'Targeting invoiced sales of 200,000 tonnes in 2023' - INVOICED sales!
It came in at '...of which 28,707 were invoiced in the same calendar year...'
The 34,880tonnes is 'orders' not 'invoiced sales'.
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Bfd,
I've just realised, you've come back T4G/Clot1.
So to welcome you back a response to your 'nonsense':
‘The Q3 RNS states 70k tonnes for 2023, with the vast majority being invoiced in year.’
No, it doesn’t state that.
It states ‘….the majority of which is expected to be invoiced….’.
Strange how you forgot the word ‘expected’.
‘It also states that 10k carry over from 2022 has been invoiced and the majority of the outstanding. 22k tonnes would also be invoiced.’
No, it doesn’t state that.
Assuming you’re referring to part of the 33kt from 2022, then it states ‘….10,000 tonnes of this product has been delivered…’ so it’s delivered, not ‘invoiced’ as you stated.
Also, assuming the ‘22k tonnes’ you refer to should be 23k tonnes (33k minus 10k) ‘would also be invoiced’ – no it doesn’t state that. It states ‘although we forecast that not all 33,000 tonnes will be delivered before year end.’ So again. it’s delivered, not ‘invoiced’ as you stated. Don’t ignore the word ‘forecast’, and FYI, the 33kt was actually invoiced in 2022 (Dec).
‘There is also the outstanding money they are due to receive from the court case.’
Well, it’s very nearly 12 months since the ‘positive court ‘ruling’ RNS which if you read it just states Harvest ‘will proceed with recovery action which we expect is the last stage in this process.’ Expect?
12 months later – nothing!
‘So there is plenty of reason for an RNS’
I somehow doubt they would RNS ‘it all didn’t happen’?
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Is there any point in a RNS?
Have a read of the Q3/23 RNS, that surely tells all regarding FY23 sales doesn't it?
Are you expecting something better?
No point in 2024 guidance note. Wasn't 2023 guidance 200,000t, revised down to 120,000t, revised down to 70,000t......?
So that's >30kt for FY2023 and 70kt 2024 guidance? IMHO
Good Look
'Worst case it gets bought out for more than current SP imho.'
Do you really think there are potential buyers that would not consider all those active holdings located in the same municipality as a risk to purchase an asset which is currently struggling to sell anything like its production capacity?
A very relevant example:
Verde Fertilizantes have a similar though more advanced situation.
Here's an extract (google translated) from an ANM document (link below) regarding a mining concession very local to Verdes current operation (within 30km). The company, 'Fertimax' have a concession Lavra, full mining licence, enviro licence......they can start production! They have two other local positive prospects and will be a direct competitor to Verde.
Extract:
'- Method: Open pit mining on benches, with mechanical dismantling;
- Annual production: 480,000.00/year;
- Mine life: 21.7 years;
- Disposal of waste: In the case of potassium silicate, the only waste to be
to be removed is made up of the surface layer of soil and vegetables, which will be
stored in the vicinity of the mine in order to facilitate the environmental recovery of
mined areas;
Beneficiation: There will be no processing, the ore will be
sold fresh;
-Initial investment: R$ 272,814.00;
- Gross revenue: R$ 24,000,000.00;
- Annual operating cost: R$ 5,402,631.02;
- Forecast of CFEM collection: R$ 404,880.00;
- Annual Net Profit: R$ 10,817,877.22;
- Internal Rate of Return – IRR: 3529.77%;
-Minimum attractiveness rate –TMA: 12%;
- Net Present Value: R$ 34,592,828.67;
- Payback: 12 months.'
https://sei.anm.gov.br/sei/modulos/pesquisa/md_pesq_documento_consulta_externa.php?iPKNOI4i-Tt3bdeqzGJgGCgYH-B6kWAvCl8aH0kRl634-veXgxBQE0F5dhuBPLGIOZdu4YJaFMsNEIPadRJE1v93ZOxclMyq7SbcrC2UzeD8LbPCxN9b_5Y4OTp9nsbZ
The date of the document on ANM website is 14th August 2023.
Do you think Verde shareholders are aware of these very near assets?
Good Look
First one up will be from a company called 'RBM Consultoria Mineral Eireli'.
They too have a research permit (3 years), extended due to C'vid and now expires October 2024.
This one is interesting because it is adjacent to (due south) a tenement held by Triunfo Mineracao (Harvest) who submitted a 'positive' research report Sept 2023.
Good Look
In 2022, Mineração Itaú Ltda ME had only two tenements with research permits in Carmo do Paranaiba municipality.
By the end of last year (2023) they had acquired a further 15 tenements with research permits and a further two with request for research permits.
When Harvest acquired the Arapua prospect it was for a total of 14,946ha.
Mineração Itaú Ltda ME now have 37,416ha - 2.5 times the size of Arapua!
These guys are serious players!
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'Very little debt...'?
Are you sure about that?
'Worst case it gets bought out for more than current SP...'?
Really?
There are currently 41 active research permits in Carmo do Paranaiba all researching 'Fosfato'.
Why would any company buy from Harvest?
No need!
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