CORRECTION – Verde sells 24,670 tonnes of Super Greensand® during First Half 2019
2019年8月15日 - 5:25AM
In a release issued earlier today by Verde AgriTech (TSX:
“NPK”) (OTCQB: “AMHPF”), under the headline "Verde sells 38,585
tonnes of Super Greensand® during First Half 2019," please note
that the amount in the headline should be
24,670
tonnes of Super Greensand®, not
38,585
tonnes.
Verde AgriTech Plc (TSX: “NPK”)
(OTCQB: “AMHPF”) ("Verde” or the “Company”) is pleased to provide
an update on the construction of its new plant and present its
second quarter results for 2019.
As announced on October 17, 2018, Verde is
expanding its production capacity. The current processing
facility’s capacity is 200 thousand tonnes and total production
capacity will increase to 500 thousand tonnes per annum of product.
Construction of the expanded plant started in July and will be
finalized in Q3 2019. The Company is investing approximately C$1
Million in this expansion.
In addition, the company has applied for an
environmental license to build a new facility with a total capacity
for 900 thousand tonnes per annum of product.
Q2 2019 Highlights
- Verde has produced 33,760 tonnes of Super Greensand®, of which
23,625 tonnes were sold during Q2. In Q1, the Group produced 4,825
tonnes and sold 1,045 tonnes, totaling 38,585 tonnes produced and
24,670 tonnes sold throughout the six months ended June 30.
- The orders delivered in Q2 2019 generated revenue of
C$1,329,000 and a gross profit of C$669,000 from the sale of Super
Greensand®. Total revenue for the six months ended June 30 of
C$1,483,000.
- For Q2 2019, the Group recorded a net loss before tax of
$175,000.
- In April 2019, Verde appointed Mr. Daniel Sabbag as Vice
President of Sales. Mr. Sabbag devoted 14 years to the fertilizer
business while working at Heringer, which he was instrumental in
turning the company into one of Brazil’s three largest fertilizer
companies.
Subsequent events
- On July 16, 2019, Verde obtained a mining permit to produce an
additional 49,8 thousand tonnes per year at Mine Pit 3.
- On July 19, 2019, the Company obtained a mining permit for an
annual production of 233 thousand tonnes per year at Mine Pit 1.
The required environmental license application will be filed on
August 2019.
- On July 23, 2019, Verde was selected by Endeavor to participate
in the Endeavor 2019 Scale-Up Acceleration Program. Endeavor is a
non-profit organization supported by some of the world’s most
successful entrepreneurs and companies. The organization is leading
the global high-impact entrepreneurship movement to drive long-term
economic growth and build strong entrepreneurship ecosystems.
About Verde AgriTech
Verde AgriTech promotes sustainable and
profitable agriculture through the development of its Cerrado Verde
Project. Cerrado Verde, located in the heart of Brazil’s largest
agricultural market, is the source of a potassium-rich deposit from
which the Company intends to produce solutions for crop nutrition,
crop protection, soil improvement and increased sustainability.
For additional information please
contact:Cristiano Veloso, President &
Chief Executive OfficerTel: +55 (31) 3245 0205; Email:
cv@verdeagritech.com www.verdeagritech.com
| www.supergreensand.com
Cautionary Language and Forward Looking
Statements
All Mineral Reserve and Mineral Resources
estimates reported by the Company were estimated in accordance with
the Canadian National Instrument 43-101 and the Canadian Institute
of Mining, Metallurgy, and Petroleum Definition Standards (May 10,
2014). These standards differ significantly from the requirements
of the U.S. Securities and Exchange Commission. Mineral Resources
which are not Mineral Reserves do not have demonstrated economic
viability.
This document contains "forward-looking
information" within the meaning of Canadian securities legislation
and "forward-looking statements" within the meaning of the United
States Private Securities Litigation Reform Act of 1995. This
information and these statements, referred to herein as
"forward-looking statements" are made as of the date of this
document. Forward-looking statements relate to future events or
future performance and reflect current estimates, predictions,
expectations or beliefs regarding future events and include, but
are not limited to, statements with respect to:
- the estimated amount and grade of Mineral Resources and Mineral
Reserves;
- the PFS representing a viable development option for the
Project;
- estimates of the capital costs of constructing mine facilities
and bringing a mine into production, of sustaining capital and the
duration of financing payback periods;
- the estimated amount of future production, both produced and
sold; and,
- estimates of operating costs and total costs, net cash flow,
net present value and economic returns from an operating mine.
Any statements that express or involve
discussions with respect to predictions, expectations, beliefs,
plans, projections, objectives or future events or performance
(often, but not always, using words or phrases such as "expects",
"anticipates", "plans", "projects", "estimates", "envisages",
"assumes", "intends", "strategy", "goals", "objectives" or
variations thereof or stating that certain actions, events or
results "may", "could", "would", "might" or "will" be taken, occur
or be achieved, or the negative of any of these terms and similar
expressions) are not statements of historical fact and may be
forward-looking statements.
All forward-looking statements are based on
Verde's or its consultants' current beliefs as well as various
assumptions made by them and information currently available to
them. The most significant assumptions are set forth above, but
generally these assumptions include:
- the presence of and continuity of resources and reserves at the
Project at estimated grades;
- the geotechnical and metallurgical characteristics of rock
conforming to sampled results; including the quantities of water
and the quality of the water that must be diverted or treated
during mining operations;
- the capacities and durability of various machinery and
equipment;
- the availability of personnel, machinery and equipment at
estimated prices and within the estimated delivery times;
- currency exchange rates;
- Super Greensand® sales prices, market size and exchange rate
assumed;
- appropriate discount rates applied to the cash flows in the
economic analysis;
- tax rates and royalty rates applicable to the proposed mining
operation;
- the availability of acceptable financing under assumed
structure and costs;
- anticipated mining losses and dilution;
- reasonable contingency requirements;
- success in realizing proposed operations;
- receipt of permits and other regulatory approvals on acceptable
terms; and
- the fulfilment of environmental assessment commitments and
arrangements with local communities.
Although management considers these assumptions
to be reasonable based on information currently available to it,
they may prove to be incorrect. Many forward-looking statements are
made assuming the correctness of other forward looking statements,
such as statements of net present value and internal rates of
return, which are based on most of the other forward-looking
statements and assumptions herein. The cost information is also
prepared using current values, but the time for incurring the costs
will be in the future and it is assumed costs will remain stable
over the relevant period.
By their very nature, forward-looking statements
involve inherent risks and uncertainties, both general and
specific, and risks exist that estimates, forecasts, projections
and other forward-looking statements will not be achieved or that
assumptions do not reflect future experience. We caution readers
not to place undue reliance on these forward-looking statements as
a number of important factors could cause the actual outcomes to
differ materially from the beliefs, plans, objectives,
expectations, anticipations, estimates assumptions and intentions
expressed in such forward-looking statements. These risk factors
may be generally stated as the risk that the assumptions and
estimates expressed above do not occur as forecast, but
specifically include, without limitation: risks relating to
variations in the mineral content within the material identified as
Mineral Resources and Mineral Reserves from that predicted;
variations in rates of recovery and extraction; the geotechnical
characteristics of the rock mined or through which infrastructure
is built differing from that predicted, the quantity of water that
will need to be diverted or treated during mining operations being
different from what is expected to be encountered during mining
operations or post closure, or the rate of flow of the water being
different; developments in world metals markets; risks relating to
fluctuations in the Brazilian Real relative to the Canadian dollar;
increases in the estimated capital and operating costs or
unanticipated costs; difficulties attracting the necessary work
force; increases in financing costs or adverse changes to the terms
of available financing, if any; tax rates or royalties being
greater than assumed; changes in development or mining plans due to
changes in logistical, technical or other factors; changes in
project parameters as plans continue to be refined; risks relating
to receipt of regulatory approvals; delays in stakeholder
negotiations; changes in regulations applying to the development,
operation, and closure of mining operations from what currently
exists; the effects of competition in the markets in which Verde
operates; operational and infrastructure risks and the additional
risks described in Verde's Annual Information Form filed with SEDAR
in Canada (available at www.sedar.com) for the year ended December
31, 2016. Verde cautions that the foregoing list of factors that
may affect future results is not exhaustive.
When relying on our forward-looking statements
to make decisions with respect to Verde, investors and others
should carefully consider the foregoing factors and other
uncertainties and potential events. Verde does not undertake to
update any forward-looking statement, whether written or oral, that
may be made from time to time by Verde or on our behalf, except as
required by law.
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