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HMI Harvest Minerals Limited

1.475
0.00 (0.00%)
Last Updated: 08:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Harvest Minerals Limited LSE:HMI London Ordinary Share AU000XINEAB4 ORD NPV (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 1.475 1.40 1.55 1.475 1.475 1.475 59,557 08:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Miscellaneous Metal Ores,nec 8.63M 198k 0.0010 14.70 2.78M

Harvest Minerals Limited Permit Update (3858Z)

14/03/2017 8:55am

UK Regulatory


Harvest Minerals (LSE:HMI)
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TIDMHMI

RNS Number : 3858Z

Harvest Minerals Limited

14 March 2017

14 March 2017

Harvest Minerals Limited

("Harvest" or the "Company")

ARAPUA FERTILISER PROJECT

POSITIVE UPDATE ON PERMITTING

Harvest Minerals Limited (AIM:HMI) is pleased to provide an update on the future permitting at its 100% owned Arapuá Fertilizer Project ("the Project") in Minas Gerais State, Brazil.

Highlights

   --    Trial Mining Permit extended, allowing Harvest to continue mining on a rolling 50kt basis; 
   --    Full Mining Licence application to be submitted in April 2017; 

Trial Mining Permit and Mining Concession

As previously announced on 22 December 2016, Harvest was granted a trial mining permit (Guia de Utilização) which remains in place until 28 April 2017.

Following consultation with the Departamento Nacional de Produção Mineral ("DNPM"), and given the positive developments and results at the Project to date, including the increased Mineral Resource estimate as announced on 27 February 2017, Harvest has elected to submit an application for a Full Mining Licence ("FML"). This application will be lodged during April 2017.

Having already applied to extend the Trial Mining Permit, Harvest can automatically continue operating under the Trial Mining Permit without interruption until a decision on the FML is reached.

As part of the FML application process, Harvest will submit a Final Exploration Report to the DNPM detailing all of the geological, metallurgical and agronomic work Harvest has completed at the Project to date. Once this is approved, Harvest has a further one year to submit a feasibility study and the respective application to the DNPM.

Approval of the FML is likely to take between 1-2 years depending on when Harvest decides to submit the feasibility study. As noted above, Harvest can continue to operate without interruption during this period. Harvest remains fully funded to complete the work associated with the FML application.

Commenting on the update, Executive Chairman of Harvest, Brian McMaster stated:

"By starting the process of applying for a Full Mining Licence, including submitting an extension application for the Trial Mining Permit, Harvest is putting in place the foundations for a long term and sizable fertilizer project. We are progressing with our product's testwork and certification and remain on track."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

Enquiries:

 
 Harvest Minerals        Brian McMaster,        Tel: +44 20 7495 
  Limited                 Chairman                          4323 
 Strand Hanson           Rory Murphy            Tel: +44 20 7409 
  Limited (Nominated      James Spinney                     3494 
  & Financial             Ritchie Balmer 
  Adviser) 
 
   Mirabaud Securities     Rory Scott               Tel: + 44 20 
   LLP (Broker)                                        7878 3360 
 
   Beaufort Securities     Jon Bellis 
   Ltd                                              Tel: + 44 20 
   (Joint Broker)                                      7382 8300 
                           Grant Barker 
   Whitman-Howard 
   Ltd                                              Tel: + 44 20 
                           Bobby Morse                 7659 1225 
                           Anna Michniewicz 
   Buchanan 
   (Financial PR)                               Tel: +44 20 7466 
                                                            5000 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCSFESALFWSEID

(END) Dow Jones Newswires

March 14, 2017 04:55 ET (08:55 GMT)

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