Harvest Minerals’ (LSE:HMI) announces that the Final Exploration Report (‘FER’) for its Arapua Fertiliser Project has been approved by the Department of Mines (‘DNPM’) following a site visit. The company At present currently operates under a four-year Trial Mining Permit but now intends to submit an environmental report and then a feasibility study as the final steps in the application process for a Full Mining Licence (FML).
This follows yesterday’s RNS from the company announcing a slight delay to the certification process for its multi-nutrient fertiliser product KPfertil. The share price is currently 20% off recent highs and may offer an opportunity for entry to those interested in the story with a little more patience. I also note on the chart that the Relative Strength Index (RSI) has dropped to around 54 which positions it nicely for any subsequent increase in price.
Author: Stuart Langelaan
Disclosure: The author of this piece does not own shares in the company mentioned