Harvest Minerals Share Discussion Threads

[sja123] 06/10/2016 07:39

All seems clear to me...

"Harvest Minerals Limited ("Harvest" or "the Company") is pleased to announce that it has started infrastructure work in preparation of commencing open pit mining and additionally, the Company is preparing the drill pads for the start of a new drill programme at its Maximus Phosphate Project, located in the Brazilian state of Minas Gerais.

Infrastructure Work

Last week, the Company carried out a topographic survey and started fencing the lease area to keep livestock away from the project site. The contractor has now broken ground at the site and started to remove the topsoil from the stockpile area. The entire civil works, including construction of site access and the stockpile areas, as well as removal and stockpiling of the overburden from the planned open pit, is expected to take approximately 30 business days to complete. By this time, the Company hopes to have also received the Trial Mining permit.

Drill Programme

The Company has also started the preparation for a new 35 hole air core drill programme at the project. The aim of this drill programme is to increase the size of the current resource to support an increased mine life and production rate as well as define the full extent of the mineralisation at Maximus. All the drill hole locations have now been surveyed and work on preparing the drill pads commenced yesterday. The drilling contractor is expected on site mid-October and the programme is expected to take 25 days to complete, after which the core will be sampled and sent for assay.

Please see the below links to selected figures illustrating the progress at site.

Executive Chairman of Harvest, Brian McMaster, commented: "We are very pleased with the progress to date. The completion of these initial civil groundworks is expected to coincide with the award of the Trial Mining permit, allowing us to start production around the end of October, well ahead of schedule. Meanwhile, the drill programme should allow us to increase the size of the resource enabling us to demonstrate long term supply to potential customers."

[soulsauce] 06/10/2016 07:18

Brutus did you not read the last update?

[brutus8] 05/10/2016 23:37

All this talk of fractions and assumptions isent really helping since no one here has looked at the phylosophy of the country.Let's start with the CEO on the proactive interview when asked about the share holders. He said " they have been rewarded already" ie those that got in at 4p .That meant; now let me get on with the job of getting this started.What does he face; for starters Brasil in no different than Tanzania, if you want things done you have to fatten the the breast pocket of the decision maker.What has been happening right now is the honey moon period where the future is shaped. The decision maker can be encouraged in two ways, direct brown envelope or use his own money to buy stock cheap. Try and remember that a month ago the CEO stated: the contractors papers are on my desk and so; either the diggers are already at work but we are not hearing about it until Mr decision man has loaded up or negotiations are still ongoing with regards to the decisive figure to get the go ahead.At this stage no one cares about the land owner or indeed us. The Gov official needs feeding first. That is how it has always worked and nothing will change that.I only hope that boomerang man gets this sorted before the US elections and I think we all know why.

[cyberbub] 05/10/2016 10:11

Yes that makes sense IMO

[jerseymike] 05/10/2016 08:29

Thanks YP, you have focussed my thinking.I have done more research and now think I understand why the word trial is used. Triumph Tin, wholly owned subsidiary of HMI, cannot begin "commercial production" until it pays US$1,000,000 to the land owner. The land owner will also receive 2% of the net trading profit (not company profit) as a "Net Smelter Return". Net trading profit means sales value less refining and transportation costs.We don't know what the land owner expects, if anything, from the "trial" mining agreement. I guess very little as they will want the $1m as soon as they can get it.So my assumption is that once the company has sold enough under its "trial" licence so it can afford to pay the $1m, it will be awarded the commercial license.JM

[shakeypremis] 05/10/2016 07:16

So basically, harvest will only lose 2% of their next profit with 50% of that 2% (1%???) going to the landowner. Have I read that right?

[shakeypremis] 04/10/2016 15:39

Just stick around Steven. There are good gains to be made here if everything pans out. No guarantees of course but seems fairly certain this company will do well, even with just the trial license there will be the opportunity to make some double, possibly triple digit percentage gains from today's price.

[shakeypremis] 04/10/2016 15:20

Charles, while I am not sure there are actually food shortages, if distribution and wastage were to be addressed, those concerns almost certainly won't be addressed so yes fertiliser is going to be required!

Besides most (if not all) the fertiliser from HMI is going to go straight in to Brazil as they are such a big importer of the stuff. HMI are probably never going to need to sell elsewhere (unless of course higher profits can be achieved selling overseas).

[charles clore] 04/10/2016 14:58

In a world heading towards food shortages I believe fertiliser will be bigger than gold and silver. In the meantime patience is required.

[shakeypremis] 04/10/2016 14:41

I think what Steven really means is that he's too impatient to wait.

[soulsauce] 04/10/2016 12:36

Lol, can you explain why you say that steven or just an off the cuff remark? And yet the share price has more than quadrupled this year.

[stevenrevell] 04/10/2016 12:00

This is a lame duck

[cyberbub] 03/10/2016 20:48

Go on then Jersey Mike, buy a few more, you know you want to :-)

[jerseymike] 03/10/2016 16:09

Thanks Barnesy. I have probably incorrectly assumed trial did not mean much production at all. I now see that it is 3 years with an option to acquire if the vendor wants to sell. I was looking to buy more and just trying to be thorough - which I hadn't been!

[gilscottheron] 03/10/2016 15:48

.......well almost everytime!!

[gilscottheron] 03/10/2016 15:39

Looking back......every time it's flatlined, it's shot up at the end. Just saying!!

[barnsey] 03/10/2016 15:24

Please note a) is pre consolidation so now December 31, 2016 the payment AU$100k and issue of 6 million fully paid ordinary shares

[barnsey] 03/10/2016 15:17

Arapua Fertilizer Project
As announced on the ASX on 5 September 2014, Harvest acquired a 100% interest in the Arapua Fertilizer Project in the
State of Minas Gerais in Brazil. The salient terms of the acquisition are:
a). A total payment of US$1,000,000 at the commencement of commercial production; and
b). A Net Smelter Return Royalty to the vendors of 2%.
The elements of the consideration have not been fulfilled as at 30 June 2016 and have therefore been recorded as
commitments as appropriate

[jerseymike] 03/10/2016 14:17

That's my assumption. Maybe the company could clarify? We know they monitor these boards.

[cyberbub] 03/10/2016 12:10

Would the stated sub-$10 cost of production not include any landowners royalty etc?