Harvest Minerals Ltd (AIM:HMI, OTC:HMIFF), the fertiliser producer, saw its shares rally 9% on Thursday after it confirmed orders in 2024 had soared already, before its usual period of strong trade.
Around 17,390 tonnes of the group’s fertiliser KP Fértil were ordered in the four months to the end of April, equating to around 50% of 2023’s orders.
In April alone, the group was able to generate the same amount of orders as those made in the entire period between January and March 2024.
Harvest Mineral’s orders represent around 25% of management’s full-year sales guidance of 70,000 tonnes.
Importantly, the group will now enter its “robust seasonal phase of the year” when the market improves on the back of hotter weather.
Brian McMaster, chairman at Harvest Minerals, said: “While we recognize the ongoing challenges in the market, we maintain cautious optimism about meeting our year-end targets. We'll closely monitor market conditions and adjust our strategies as necessary.”
Some 8,390 tonnes of KP Fértil were invoiced during the first four months of 2024, with management confirming the remaining orders would be invoiced through during the remainder of the second quarter.