Verde AgriTech Provides Processing Plant Update

Verde AgriTech (TSX:NPK,OTCQB:AMHPF) reports the on-site plant assembly has commenced at its Brazil project.

As per the company announcement earlier this year, Verde is executing a turnkey agreement for the construction of its processing plant in the municipality of São Gotardo, in the state of Minas Gerais. The projected production of the plant is 45 tonnes per hour of Super Greensand®. The total cost of the production facility is expected to be US$ 500,000.

Verde AgriTech is a company focused on the promotion of sustainable and profitable agriculture through the development of its Cerrado Verde project. Since its inception in 2007, Verde has invested roughly US$30 million into the project.

As quoted from the press release:

The company has concluded all site preparations and structural foundations. Most of the plant equipment was delivered to site and its assembly has begun. Verde is on schedule and on budget to be fully operational in early Q3 2018.

In November 27, 2017 the company announced the results of its pre-feasibility study. The study shows a post-tax net present value discounted at 8 percent of US$1.98 billion and internal rate of return of 290 percent.

Super Greensand® is a premium multi-nutrient natural fertilizer developed to improve the soil and boost plant nourishment. It contains 68 minerals and trace elements, including potassium, iron, magnesium and manganese. Super Greensand® increases the soil’s capacity to retain water and nutrients. Contrary to most potassium fertilizers, Super Greensand®has no additives, no salt and no chlorine. It is approved for organic production by the Organic Materials Review Institute (OMRI) and by the California Department of Food and Agriculture (CDFA).

“The markets in Brazil and US have warmly welcomed our Super Greensand®, as we expected given the long series of agronomic tests conducted on the product. Now we are working hard to ensure that we can increase production as soon as possible. Our first wholly owned plant will ensure greater supplies at a lower per ton cost, so we are excited to see that work is progressing along the tight schedule we established,” President and CEO, Cristiano Veloso said.

Click here to read the full press release