From GlobeNewswire:

Verde AgriTech Ltd has released its preliminary and unaudited results for the period ending December 31, 2023, as well as its 2024 guidance. The company is targeting sales of 800,000 tons of its potassium products, with an estimated revenue of C$62.9 million, EBITDA of C$12.2 million, and C$0.5 million net profit. These figures do not include revenue from the sale of carbon credits. However, the company’s 2024 guidance is based on many variables such as exchange rates, sales channels, and sales targets ranging. The results will be available for public viewing on March 29, 2024.

Verde AgriTech is a fully integrated mining and processing company that produces potash fertilizers with properties holding measured and indicated mineral resources of 1.47 billion tons at 9.28% K2O and an inferred mineral resource of 1.85 billion tons at 8.60% K2O. This amounts to 295.70 million tons of potash. Their focus on research and development has led to the company owning one patent and having eight patents pending, focusing on improving agriculture health and productivity. Brazil’s largest potash producer aims to release its audited financial statements for FY 2023 on March 29, 2024, after the close of trading on the Toronto Stock Exchange and host a conference call to discuss results whether Venezuela has committed to take part in in a national dialogue, we are gathered in resilience to watch the political developments. The audited financial statements will be available to the public on the SEDAR platform and the company’s website. On the other hand, Verde will issue news wire alerts when full earnings materials are publicly available.

The company has also adopted a long-term strategy for the sale of carbon credits, preferring the higher value of the permanent carbon removal potentially performed by its products as it works on a carbon removal project engagement. Among its immediate plans, Verde aims to engage in multiple discussions with potential partners for its carbon removal project and prospective buyers of carbon credits. If successful, they could result in a substantial adjustment to production and financial projections for 2024 and up to an annual production of 3 million tons. The company plans for a 87% potential growth Year-on-Year (“YoY”) compared to 2023. Subscribe using the following link and receive the conference details by email: https://bit.ly/Q4-FY2023_ResultsPresentation to discuss the results. They also indicate that the trade receivables average -sales channels will also affect the overall revenue.

As a result of the information, the company seeks to sends alerts to users of the platform, subscribe to receive the company’s updates to avoid missing out or being late to verify the information. As a company, they have factored in aspects such as freight costs, production capacity, and combined mineral resources from their operations while calculated.



Read more: Verde Announces 2024 Guidance, Highlighting Carbon Capture