Harvest Minerals Limited AIM:HMI
- Incorporated
- Australia
- Reports in
- AUD
Read straight from the annual reports
0.3c at close on 8 Oct 2026 · 12 reported years, 2015–2025
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AUD millions, negatives in brackets. Per-share lines in cents, share counts in millions. later is what a following report restated the figure to; vs is a second reading that disagrees. The figure shown is the one the original filing printed, and both readings are kept. Click any figure: opens the report page it was read from, highlighted; shows how it was calculated. The share price above is drawn to the same columns: each close sits over the financial year it fell in.
8 years, at a glance
Dashed: Operating margin, in % on its own scale — read its shape, not its height against the bars.
Harvest Minerals Limited mines and sells natural organic fertiliser from its Arapua project in Brazil, its only source of revenue. In 2025 revenue fell to AUD 1.8m from AUD 2.6m, and the loss after tax widened to AUD 5.8m from AUD 3.7m. The company blamed difficult economic conditions in Brazil, which cut sales. It also scaled back operations to save cash, which lowered its costs. The bigger loss came mainly from a one-off, non-cash write-down of $2,918,685 in the value of the Arapua project's assets. Cash at the year end was AUD 1.2m, against bank borrowings of AUD 3.4m. Shareholders put in AUD 583k for new shares, and no dividend was paid. Management called 2025 challenging. It said its focus is on keeping Arapua going and renegotiating its Brazilian bank debt, and it sees rare earth elements at Arapua as an opportunity. The report warns that there is serious doubt about whether the company can keep operating. A Brazilian court has also protected one subsidiary from action by its lenders while talks continue.
Fertiliser sales volumes at Arapua
Total sales for the year were 25,983 tonnes; revenue from fertiliser sales of $1,750,597, down from $2,648,815 in 2024 due to difficult macroeconomic conditions in Brazil
page 9Reduced mine operating costs from scaled-back operations
Cost of goods sold fell to $1,380,819 (2024: $2,558,275); gross profit margin improved to 21.1% of revenue from 3.4% in 2024
page 34Weak Brazilian macroeconomic conditions depressing sales volume/price
Total sales fell to 25,983 tonnes and revenue declined to $1,750,597; directors attribute this to 'difficult macroeconomic issues outside the control of the Company'
page 92025 continued to be a challenging year for the Company and its key project, Arapua. Due to ongoing global market challenges during 2025 and into 2026, focus has been on preservation of Arapua and addressing the Company's balance sheet, primarily through seeking renegotiation of bank debt facilities in Brazil.
page 9February 2026: Triunfo obtained preliminary injunctive relief from the 5th Corporate Court of Rio de Janeiro against creditor enforcement, initially for 60 days, extended by the Court in June 2026
page 10No dividend was paid or declared for FY2025 or since the year end; the franking account balance is nil. The Board continues to review its dividend policy and expects over time to return cash to shareholders through a combination of dividends and share buybacks as profitability allows.
page 9Financial statements prepared on a going concern basis despite material uncertainty: FY2025 loss after tax of $5,795,297, net cash outflows from operating and investing activities of $598,195, and $1,378,930 of borrowings falling due within 12 months. Mitigants cited include managing discretionary expenditure, pausing director remuneration if needed, improved sales focus, and Brazilian bank debt renegotiation (Triunfo settled with Banco Itau in May 2026; negotiations continue with three other lenders). Auditor HLB Mann Judd issued an unmodified opinion with an emphasis of matter / material uncertainty related to going concern; key audit matters were risk of fraud in revenue recognition and impairment of the Arapua Project.
page 23- Going concern material uncertainty: losses, operating cash outflows and $1.38m of borrowings due within 12 months of year end, mitigated by cost control and Brazilian bank debt renegotiationp.23
- Single commodity/project concentration: the Arapua Fertiliser Project is the Group's sole source of revenuep.9
- Customer concentration: largest customer represents 12.8% of Group revenuep.34
- Brazilian macroeconomic and market conditions adversely affecting fertiliser sales volumes and pricesp.9
Read from C000602-AR-2025-website.
10 annual reports read, FY2016 to FY2025
Open a year to see what its report said. Every line in it carries the page it was read from.
Sources: Company website (10)
FY2026Next report expected 7 Jul 2027