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Itronics Reports 2012 Revenues and
Outlook for 2013
Sales
Growth to Be Re-Established in 2013
RENO, NV--(Marketwire - Jan 3, 2013)
- Itronics Inc. ( PINKSHEETS : ITRO
) reported today its 2012 sales of
$2.29 million decreased by 19.6
percent from 2011 sales of $2.84
million. Fourth quarter sales were
up 14 percent, but the increase was
insufficient to overcome the sales
decline that was experienced earlier
in the year. The Company's outlook
for 2013 is that sales will return
to higher levels and sales growth
will be re-established.
Itronics
is a cleantech specialty liquid
fertilizer Company which produces
silver bullion and that owns a 6,000
acre Iron Oxide Copper Gold (IOCG)
mineral property (the Auric Fulstone
Project) in the prolific Yerington
Copper Mining District in
northwestern Nevada. The Company's
goal is to achieve profitable large
scale clean technology driven
sustainable growth in specialty
fertilizers, silver and specialty
minerals.
2012 Accomplishments
During 2012 Itronics continued to
focus on strengthening its business
foundation. Following are major
accomplishments during the year:
1. The Company's fertilizer
distributor continued to expand its
GOLD'n GRO customer base which is
expected to produce increased sales
in 2013 and future years. Sales into
Hawaii and Idaho are expected to
begin in 2013 and planning is
underway to develop sales in other
regions. Development work is also
underway to introduce new
applications for GOLD'n GRO
fertilizers in the important
California market. The effectiveness
and economic viability of some of
these applications was demonstrated
in field trials in 2012.
Itronics' fertilizer manufacturing
operations continued to become more
efficient in 2012. All orders
received during the spring planting
rush were delivered timely. In 2012
our distributor worked with us to
implement an "Early Order Program"
which made it possible to
strategically position pre-season,
GOLD'n GRO fertilizer inventories at
key retail branches to help reduce
the seasonal impact on manufacturing
that typically occurs when the
planting season begins. This
successful program is being
continued in 2013.
2. Operation of the first phase of
the Stage 1 silver refinery
expansion was continued and testing
of different types of feed materials
was completed. A 50 percent refining
cost savings results from use of the
silver-bearing residues from the
process and refining capacity is
doubled.
Increased leaching capacity is
required to expand the use of the
new process to handle the full
production of silver-bearing solids
from photoliquids processing. Design
of a larger leach reactor will be
completed in 2013 and is expected to
be acquired and installed.
Work to
convert the iron-bearing leach
liquid produced by the Itromet FeLix
process into a base liquid that can
be used in certain GOLD'n GRO
fertilizers was completed in 2012.
Successful use of the iron rich
leach liquid in the GOLD'n GRO
fertilizers is a major achievement
for the Company. Being able to do
this improves utilization of
internally generated raw materials
while expanding silver refining
capacity and improving the economics
of current operations.
3. During the year the state of
Nevada classified our photo liquid
processing and fertilizer
manufacturing facility as a
Nitrogenous Fertilizer manufacturing
operation. This new facility
classification included recognition
that the spent silver-bearing
photoliquids being received and
processed for use in the GOLD'n GRO
fertilizers are "raw materials" and
not "hazardous waste," all as
defined under the U.S. Environmental
Protection Agency Resource
Conservation and Recovery Act (RCRA)
regulations. Itronics is the only
photo-liquid processing company in
the United States with this
permitting status. This is a major
milestone for the Company because
our recycling/fertilizer
manufacturing facility is now the
environmentally preferred option for
the disposal of spent silver bearing
photoliquids throughout the country.
4. The Company's Auric Fulstone Iron
Oxide Copper Gold (IOCG) Project now
owns 303 lode mining claims
encompassing 6,060 acres,
approximately 9.5 square miles.
During the year interpretive work
was continued to improve the
geologic understanding for the
project area. This work will be
continued in 2013, subject to funds
availability. During the year an
investor group expressed interest in
funding development of the project
and discussions to lead to an
investment were initiated in the
fourth quarter.
Some of
the largest polymetallic copper gold
deposits in the world are classified
as IOCG deposits. These deposits
often contain a variety of
extractable metals and minerals
including specialty minerals,
uranium, and rare earths. The copper
deposits in the Yerington Copper
District typically contain iron,
copper, gold, silver, molybdenum,
and sulfur. Uranium occurs in at
least one of the deposits in the
district and specialty minerals have
been identified at the Fulstone
Project.
The
Yerington Copper District is
globally attractive, because it is
mineral rich and is in a
"politically safe" location with
much infrastructure including rail
service in place. A skilled work
force is readily available. Nevada
is one of the most mining friendly
states in the United States and in
the world. Itronics' 6,000 acre
Auric Fulstone Project gives it a
strategic mineral land asset in this
globally important copper district.
2013 Outlook
As demonstrated again in 2012, the
weather, which no one can accurately
forecast with complete certainty,
had a significant negative effect on
our fertilizer sales. Our current
outlook, assuming weather in 2013
and related agricultural cropping
patterns in our California markets
will be more normal than 2012, is
that sales should increase. Late
fall and early winter rain and snow
is improving the California
fertilizer sales outlook for 2013.
The Stage 1 silver refinery
expansion is progressing and is
expected to increase silver refining
capacity sufficient to support a
significant increase in "internally
produced" silver output.
Receipts of silver-bearing
photographic liquids continue to be
more than sufficient to meet the
requirements for on-going and
expanded GOLD'n GRO fertilizer sales
and are expected to continue to be
more than adequate. The switch to
digital image capture and transfer
in the photography segment has
stabilized with continuing silver
halide technology use for photo
print production and for production
of X-rays for medical archiving
purposes. This on-going use of
silver halide technology is expected
to continue.
2012 Sales Results
Unaudited Revenues for the fourth
quarter, and full year ended
December 31, 2012 together with
comparative figures for 2011 are
presented below:

Dr. John Whitney, Itronics
President, said, "While 2012
presented many challenges, the
Company ended the year on a positive
note, and expects further progress
in 2013. In 2012 we continued
operating the new Stage 1 refining
process, and we made progress in
developing our understanding of the
geology for the Fulstone Project.
Both of these projects are expanding
the Company's foundation for solid
future growth in operations and
mineral assets."
About Itronics
Headquartered in Reno, Nevada,
Itronics Inc. is a "Creative Clean
Technology" company, and is the only
company with a fully permitted
"Beneficial Use Photochemical,
Silver, and Water Recycling" plant
in the United States that converts
used photoliquids into pure silver
and GOLD'n GRO liquid fertilizers.
The Company is developing
environmentally compatible mining
technology, provides project
planning and technical services to
the gold mining industry, and
operates the popular
InsideMetals.com web site, http://www.insidemetals.com,
which provides a value-added WORLD
VIEW of Gold Producer Stocks,
Mineral Producer Stocks, Junior Gold
Stocks, and Junior Mineral Stocks.
Itronics has received numerous
domestic and international awards
that recognize its ability to
successfully create and implement
new environmentally clean recycling
and fertilizer technologies.
The Company's environmentally
friendly "green" GOLD'n GRO liquid
fertilizers, which are extensively
used in agriculture, can be used for
lawns and houseplants, and are
available, along with liquid
fertilizer injectors, at the
Company's "e-store" catalog at
http://goldngro.com. The popular
Silver Nevada Miner bars are
available at the Company's 'e-store'
catalog at http://www.itromet.com.
VISIT OUR WEB SITE: http://www.itronics.com
("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.)
Contact:
Paul Knopick
888-795-6336 |