Harvest Minerals Ltd (AIM:HMI, OTC:HMIFF) rocketed 80% higher as it confirmed it was on track to meet its target sales guidance of 70,000t of fertiliser for 2024.
Orders to the end of March 2024 totalled 8,492 tonnes, or 24% of the total 2023 volumes.
Of these, some 7,142 tonnes were invoiced with the remainder expected to be invoiced this quarter.
Stronger sales are also expected in the second half of the year said the Brazil-focused group.
Brian McMaster, chairman, commented: “As we move forward, we acknowledge the challenging market conditions but remain cautiously optimistic about the anticipated improvement in the second half of the year, particularly in our target crop segments.”
Harvest added it continues to collect cash from invoices in 2023 and has started to look at legal ways to collect money from earlier invoices.
Separately, Harvest added it had identified rare earth elements in rock samples from the Aprapua fertiliser project in Brazil with grades ranging from 1,176 ppm to 1,860 ppm.
“We have initiated a work programme specifically focused on REE to validate both existing and historical data,” added McMaster.
Shares rose 1p to 2.25p.