Harvest Minerals Ltd
HMI
ISIN AU000XINEAB4 / Valor 26233647
Harvest Minerals Ltd
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About company
Harvest Minerals Ltd is an AIM-listed company that specializes in the production of natural fertilizers within Brazil, which is identified as the world's fastest-growing fertilizer market. The company's primary operation is the Arapuá Fertilizer Project, which focuses on producing organic fertilizer with minimal environmental impact, a venture that has seen increasing revenues due to effective sales and marketing strategies. Besides the Arapuá project, Harvest Minerals holds four additional projects in Brazil, aiming to develop them into production stages. Incorporated in Australia, with its main operations in Brazil, the company's management and board are seasoned professionals with extensive experience in the mining industry and corporate finance, primarily based in London (UK), Australia, and Brazil. Harvest Minerals shares are traded on the AIM market of the London Stock Exchange under the ticker HMI, with the company not listed on any other exchanges or trading platforms.
Summarized from source with an LLMView SourceSector: EnergyLatest Results (03.02.2026):
Harvest Minerals Ltd — Q4 2023 (year ended 31 December 2023): The company reported a net loss after tax of $3,180,605 for the year ended 31 December 2023 (versus a net profit of $197,797 in 2022), driven by weaker fertiliser markets and related impairments. Revenue from fertiliser sales fell to $3,132,473 (2022: $8,625,474) and the group recorded negative EBITDA of $2.2m (adjusted EBITDA loss $1.7m). The Arapua Fertiliser Project remained the sole revenue source; management took cost-saving measures including pausing director remuneration.
Key financials
Net loss after tax: $3,180,605 (2022: profit $197,797). Revenue: $3,132,473 (2022: $8,625,474). EBITDA: negative $2.2m; adjusted EBITDA: negative $1.7m (company reconciliation shown in report).
Sales volumes and market drivers
Total sales for the year: 40,991 tonnes (includes 11,367 tonnes from 2022 orders delivered in 2023). The decline in revenue was attributed to falling global fertiliser and Brazilian soybean prices, which reduced farmer purchasing in 2023.
Profitability drivers and impairments
Major contributors to the loss included lower sales, non-cash impairments (impairment — trade receivable expense $469,632) and ongoing operating costs. The company recorded non-cash charges within the year’s result.
Cash, liquidity and balance sheet
Cash at year end: $795,554 (31 Dec 2022: $2,723,509). Net assets: $7,332,564 (31 Dec 2022: $9,713,742). Inventories stood at $1,789,297. Total borrowings at year end included current borrowings $654,474 and non-current borrowings $2,130,739.
Operations — Arapua Fertiliser Project
Arapua remains the company’s principal business and sole revenue source. The business paused advancement of other projects (Sergi Potash and Iguatama Limestone) during 2023 given Arapua headwinds, and reduced overheads to preserve cash.
Corporate actions & governance
Directors agreed in Q2 2023 to pause drawing their remuneration; amounts owing to directors at 31 Dec 2023 totalled $516,861. In May 2024 the Board resolved to convert amounts owing for directors’ fees to shares (pricing/timing yet to be determined). Palisade Business Consulting (related party) also agreed in May 2024 to convert fees owing to shares.
No dividend and outlook guidance
No dividend was paid or declared for FY2023. The Board announced 2024 sales guidance of 70,000 tonnes of placed orders (announced 15 Feb 2024). The company secured a drawdown on an existing working capital loan of R$2,500,000 in April 2024.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
1 M
Market cap (USD)
95,411
Daily traded volume (Shares)
0.006 / 0.006
1 day high/low (USD)
52 weeks high/low (USD)
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Ratings & reviews
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