Harvest Minerals Share Discussion Threads

[whl2] 22/6/2024 10:36

Might not !

[kreature] 21/6/2024 16:37

Might be pleasantly surprised with pre litigation recognised revenue ?

[whl2] 20/6/2024 07:15

I would imagine this will be back to 1p after results next week. In Harvests's case no news is bad news.

[kreature] 09/6/2024 10:08

Final results due here by the last possible day in June. Plus got to show 12 months cash going backward. Forward rather. Not sure how they could get a placing away? Surely another bank loan is out of the question?

Will be looking for
Amortisation and
Impairment of trade receivables and
Impairment of capitalised exploration
In finals

[whl2] 09/6/2024 09:40

"At which point can you apply for a loan ?"

Does that apply to shareholders too ?

[kreature] 08/6/2024 22:56

No doubt we won’t find out, once the dust has settled. But is the business model to recognise massive orders, that don’t get collected, and instead end up in court? At which point can you apply for a loan ?

[ypymytyc] 08/6/2024 04:15

I think the main question here is why did Triunfo Minereacao...... need to take out loans for R$3,500,000.00 for a contracts totalling R$2,972.000.00 where no dust actually changed hands?


YP

[ypymytyc] 08/6/2024 04:07

There is a second company named on this court case, Brasil Agro + Ltda.
This company is one of those similar small companies I previously mentioned connected by one of the directors.
Brasil Agro + Ltda operate as 'wholesale trade in agricultural pesticides, fertilizers, fertilizers and soil correctors is part of the wholesale trade sector.'

----------------------------------
General information
Start of the process
2024

Nature
7 - CIVIL AND LABOR PROCESS -> Knowledge Process -> Knowledge Procedure -> Common Civil Procedure

Subject
9587 - CIVIL LAW -> Obligations -> Types of Contracts -> Purchase and Sale - Law nº 10.406/02 (Civil Code) -

Judicial power
Justice of the States and the Federal District and Territories

Judge
Guilherme Bonato Campos Carames

Involved
ACTIVE HUB
Triunfo Mineracao do Brasil LTDA
Author

Vitor Abrantes Rocha
Lawyer involved

PASSIVE POLE
Ana Paula dos Santos Oliveira
Passive part

Brazil + Agro LTDA
Passive part

DNA Agricola Representacoes LTDA
Passive part
------------------------------

YP

[kreature] 04/6/2024 13:14

Isn’t it a bit odd for AgriCoke to invest so much in 10,000 tons of pure dust? What they supposed to do with that ?

[ypymytyc] 04/6/2024 11:53

They're much smaller than Agrocerrado.
A single outlet and the company has a very small social capital of R$5k. One of the director does have 4/5 similar small companies in different states.
Harvest did give a hint of this in the FY2023 sales RNS - 'Regrettably, approximately 8,469 tonnes of placed orders at the end of September of 2023 were cancelled by clients in the last quarter of the year due to unforeseen operational and financial issues....'?
No mention of loans.....?


YP

[kreature] 04/6/2024 09:33

Interesting yp
DNA Agricoler looks like a similar business to Agrocerado? Ie shop/wholesalers?
Maybe a bit easier to get the loans with a contract for payment ? Albeit worthless ?
So DNAAgricoler didn’t show up to collect most of the dust ? Haven’t we heard the before with other customers like Agrocerado ?

Ps. See the value of the BRL has been falling against the USD and GBP following the floods……just wondering if it will continue to drop?

[ypymytyc] 04/6/2024 08:15

Could be those 'loans of R$1,000,000.00 and R$2,500,000.00' were taken out post August 2023 and would appear as new loans in the soon to be released FY2023 accounts?


YP

[ypymytyc] 03/6/2024 16:35

Quite some claim 'he claimed', never told the SH what these loans were for?



Using Google translate:
-------------------------------------------------
Page 11029 of the Supplement - Section III, 2nd Part of the Gazette of Justice of the State of Goiás (DJGO) of June 3, 2024
Goiás State Justice Gazette
Published by Diário de Justiça do Estado de Goiás
12 hours ago
JUDICIAL POWER

Court of Justice of the State of Goiás

2nd Civil Court

District of Jataí/GO

CASE NO.: 541XXXX-44.2024.8.09.0093

ACTIVE POLE: Triunfo Mineração Do Brasil Ltda.

PASSIVE POLE: Dna Agrícola Representacoes Ltda

DECISION

This is a collection action filed by Triunfo Mineração Do Brasil Ltda to the detriment of Dna Agrícola Representacoes Ltda , qualified parties.

The author, a company that develops research and mines phosphate and potassium salts, produces the soil remineralizer "KP FÉRTIL", used as a fertilizer in various agricultural crops.

He stated that on December 22, 2022, he signed sales contracts with the defendant, totaling R$ 2,972,500.00, for the delivery of 10,000 tons of "KP FÉRTIL" between March and August 2023. He informed that the second contract was fulfilled and paid within the deadline.

Contract 05/2022, although guaranteed by a benefit and risk transfer document, had the stock maintained under the responsibility of the author until withdrawal by the buyer. However, the defendant only began withdrawing the product in August 2023 and informed that it would not be able to pay in full before the deadline, leading to a renegotiation, which was not paid in full.

He claimed that due to default, he took out loans of R$1,000,000.00 and R$2,500,000.00 to cover financial commitments, worsening his economic situation.

Without alternatives, he began the collection procedures and registered the defendant in the credit restriction registers, and on February 7, 2024, he notified her, granting a deadline to pay off the outstanding balance of R$ 2,371,396.00, but the defendant only formalized the intention to pay the fine for not removing the product on time.

----------------------------------

YP

[ypymytyc] 30/5/2024 17:51

I've assumed no bogof offers, or similar, in the R$229/t
But don't forget 'cashback' will reduce that figure, if delivered of course?


YP

[kreature] 30/5/2024 17:43

44 USD p/t?

Better than nothing. Dunno tho. Sometimes nothing is more reliable

[ypymytyc] 30/5/2024 17:21

April 24 CFEM figure recorded on ANM Website:

R$5552.65 - using the 1,254tonnes reported in RNS gives circa R$229/t

For comparison:
April 2020 - R$6,422.34
April 2021 - R$12,344.88
April 2022 - R$43,049.89
April 2023 - R$3,230.21


YP

[ypymytyc] 29/5/2024 16:42

Transparency!



YP

[whl2] 28/5/2024 11:49

Thats probably why Anglo American is fending off BHP. Probably waiting for the Harvest Minerals hostile takeover !

[ypymytyc] 28/5/2024 11:25

Can it get any better?

Harvest (Triunfo Mineracao...) have notified ANM the commencement of research on their ultra secret fosfato (come limestone?) project in Goias State.

hxxps://sei.anm.gov.br/sei/modulos/pesquisa/md_pesq_documento_consulta_externa.php?Dw5BgI2DFMbZfaN-2ZQIG-rqoRM5MS6qf0M_TyTV079kNYaJx76zebaXBVjgeNoAv9mImgFIC5YzlqQE7O7VQK2Frz6Q4nW0qtXjeNH3mrxD9eL2O8R-mJHvG8Yt0fK-

Hmmm, a 'cut back in .....exploration activities.'?

So it's a partial/final research report for Pains limestone due Oct-24, more research in Arapua trying to find even better REE grab samples, and now another three years secretly wandering around Happy Mountain in Goias looking for fosfato come limestone?


YP

[ypymytyc] 28/5/2024 03:20

If you apportion Q1/24 invoiced sales figure (7,142t) vs ANM CFEM figures and Q1/24 RNS figures they show:

10% of Q1/24 sales were made in January.
85.5% of Q1/24 sales were made in February with 78% made in second half of February alone.
4.5% of Q1/24 sales were made in March.

YP

[ypymytyc] 24/5/2024 02:28

Well, it's quite simple really.
Remember those 2023 figures?
Here's the link:

hxxps://anmbr-my.sharepoint.com/:x:/g/personal/alexandre_rodrigues_anm_gov_br/EeoFowITPMdIsEgh-_m9b1cB9VmNUISeanrtdBi3ECucvQ

Q1/23 paid tax on 5,569.16t and reported 3560t invoiced
Q2/23 paid tax on 3,983.32t and reported 3720t invoiced
Q3/23 paid tax on 20,520.53t and reported 15,220t invoiced
Q4/23 paid tax on 6,466.22t and reported 6,207t invoiced

Who got the freebies, the retailers or the farmers?

'Invoiced'? maybe it should be 'chargeable'?

So that Q1/24 average sale price of R$262.00/tonne could be well below the R$200/t level?

Can't see the Q2 'cashback' campaign helping here?

YP

[ypymytyc] 23/5/2024 09:45

Harvest Q1/24 figures 7,142tonnes invoiced.

ANM figures for Q1/24:

Jan
CFEM R$3,684.00
Revenue R$190,897.00

Feb
CFEM R$31,021.00
Revenue R$1,601,277.00

Mar
CFEM R$1,605.00
Revenue R$82,879.00

Total CFEM R$36,310.00
Total Revenue R$1,875,053.00


Using 7,142t invoiced and total revenue R$1,875,053.00
gives average sale price of R$262.00/tonne.


Compare that to Verde Q1/24 average revenue of CAD$60.00/tonne (circa R$220.00/t) includes delivery.

Explanation anyone?


YP

[ypymytyc] 22/5/2024 02:15

Verde are up 28% today, is that because of the same imminent RNS?

or

'Agricultural exports break record and reach US$ 15.24 billion in April.'

YP

[smraynot] 21/5/2024 20:04

RNS imminent.Dont miss the boat.🚀