ITRONICS REPORTS 59 PERCENT INCREASE IN 2019 FIRST NINE MONTH’S GOLD’n GRO FERTILIZER SALES; 129 PERCENT INCREASE IN SILVER SALES
RENO, NV — October 9, 2019 — InvestorsHub NewsWire — Itronics Inc. (OTC:ITRO), an Innovative Greentech Fertilizer, Silver, and Mineral Producer, reported today that its first nine-month GOLD’n GRO fertilizer sales were up 59 percent to $1,517,294 in the current year from $954,059 in the same period in 2018. Silver bullion nine-month sales were $43,480, up 129 percent from $18,986 in the same period last year. These sales increases were supported by a 42 percent increase in third quarter GOLD’n GRO fertilizer sales and a 21 percent increase in third quarter silver bullion sales.
Itronics is also reporting exciting progress on GOLD’n GRO fertilizer sales and on several other developments that are rapidly moving forward to expand the Company’s revenues.
“The GOLD’n GRO fertilizer sales growth achieved in the first nine months is expanding in the fourth quarter,” said Dr. John Whitney, Itronics President. “Our GOLD’n GRO sales team is demonstrating exciting new field applications for the fertilizer that are expected to lead to significant expansion of fourth quarter sales. We are successfully expanding and diversifying GOLD’n GRO fertilizer sales in our existing markets and establishing sales in the California coastal vegetable markets which will greatly reduce the seasonality of the business in coming years.”
Our research and development group is successfully increasing silver content in the bullion being produced by the pilot scale circuit board refining operation, while improving the operating reliability of the refining furnaces. An operating routine has been developed for the furnaces and bullion production is becoming much more consistent. The Company expects that the amount of bullion per shipment will increase over the next shipments and that the value of the shipments will be increased by the continuing increases in gold and silver prices.
The R&D group has also been improving its breakthrough in leaching technology that is producing high silver content material for the refinery. Operating knowledge for using the new equipment installed late last year is improving and the silver content of concentrates being produced for the refinery is increasing. The group is now integrating the iron and sulfur bearing liquids being produced by the leaching technology into the GOLD’n GRO fertilizer manufacturing operation thereby reducing the cost of raw materials for the fertilizers and improving their profitability.
Whitney & Whitney, Inc., the Company’s technical services subsidiary, has signed a new research contract with a publicly traded silver mining company to evaluate the potential for silver tailings reprocessing. The project is using the Company’s newly developed breakthrough “Rock Kleen“ Technology to accomplish the reprocessing. The Company expects that the silver tailings reprocessing research could begin to generate meaningful cost reimbursement revenues in 2020 as the scope of work expands. Itronics has already received research cost reimbursement as a new revenue source for the Company that is expected to increase as new process application research gets underway on new projects and as existing projects expand.
Whitney & Whitney, Inc. has also been soliciting and negotiating confidentiality agreements with potential mining companies that might become joint venture partners for developing the Auric Fulstone Project in Nevada. It has high expectations that one or more mining companies will have an interest in co-developing the Auric Fulstone project in 2020, especially if gold and silver prices continue to increase.
The Company’s Reno-Stead manufacturing facility is fully operational and acquisition of the Wabuska facility has been completed. The Company’s operating infrastructure is being expanded to support increased sales growth in 2020 and future years.
Headquartered in Reno, Nevada, Itronics Inc. is a “Creative Green Technology” Company which produces GOLD’n GRO specialty liquid fertilizers, silver bullion, and silver-bearing glass. The Company’s goal is to achieve profitable green technology driven organic growth in specialty GOLD’n GRO fertilizers, silver, zinc, and minerals. The Company’s technologies maximize the recovery and uses of metals and minerals and by doing this maximize sustainability.
Through its subsidiary, Itronics Metallurgical, Inc., Itronics is the only company with a fully permitted “Beneficial Use Photochemical, Silver, and Water Recycling” plant in the United States that converts 100 percent of the spent photoliquids into GOLD’n GRO liquid fertilizers, silver bullion, and silver bearing glass. This is internationally recognized award winning “Zero Waste” Technology. The Company is developing a portfolio of environmentally beneficial “Zero waste” processing and mining technologies. Itronics has received numerous domestic and international awards that recognize its ability to successfully use chemical science and engineering to create and implement new environmentally green recycling and fertilizer technologies.
The Company’s environmentally friendly award winning GOLD’n GRO liquid fertilizers, which are extensively used in agriculture, can be used for lawns and houseplants, and are available at the Company’s “e-store” on Amazon.Com. Due to expanded retail customer interest, GOLD’n GRO fertilizer may now be purchased in Reno, Nevada at the “Buy Nevada First Gift Shop” at 4001 S. Virginia St.
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(“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: This press release contains or may contain forward-looking statements such as statements regarding the Company’s growth and profitability, growth strategy, liquidity and access to public markets, operating expense reduction, and trends in the industry in which the Company operates. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in the Company’s filings with the Securities and Exchange Commission. The Company assumes no obligation to update these forward-looking statements to reflect actual results, changes in risks, uncertainties or assumptions underlying or affecting such statements, or for prospective events that may have a retroactive effect.)