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Press
Release Archives: 06/03/2005
Itronics
Outlines Eight-Part Growth Strategy to Meet Key
Corporate Goals
RENO, Nev., June 3 /PRNewswire-FirstCall/ -- Itronics
Inc. (OTC Bulletin Board: ITRO; Frankfurt and Berlin
Stock Exchanges: ITG) in its recently filed 10-QSB
outlines its eight-part growth plan for its
Photochemical Fertilizer and Silver Division, saying
that implementing these eight steps will allow the
Company to achieve its corporate goals to be profitable,
to supply specialty liquid fertilizers to large volume
markets, and to be a large silver refiner.
1) Increase sales in established territories. The
Company said GOLD'n GRO liquid fertilizer sales growth
is being generated by a broader base of distributor
stores selling its products, a larger sales force
participating in the sales program and more products
being sold in bulk truck load quantities. The fertilizer
is sold to the specialty agriculture market including
avocados, citrus, grapes, fruit and nut trees and
vegetables, for bulk field crops including alfalfa,
cereal grains, corn, cotton and soybeans, and the home
lawn and garden markets, nurseries and greenhouses, and
golf courses.
Itronics also said that it has proposals to potential
customers that could lead to more than $500,000 in sales
of Photochemical Silver Concentrators. These machines
produce water pure enough to be used to make up new
photo fixer chemicals, allowing the photo processor to
achieve 100 percent recycling of used photochemical
wastes. "This marks a shift in market focus from
obtaining the majority of photochemical raw materials
through our collection services to obtaining the
majority of the photochemical raw materials as
concentrates from customers throughout the United
States," said Dr. John Whitney, Founder and President.
2) Develop GOLD'n GRO foliar fertilizer applications for
more crops. Several new crop applications are being
developed including young oats and winter wheat, alfalfa
and silage corn, all large acreage markets for the dairy
cow feed market. "The applications open up the potential
for economical large scale use throughout the U.S.," Dr.
Whitney said. An additional large acreage crop for which
applications are being developed with positive results
is cotton, with 13 million acres grown in the U.S.
3) Expand sales to new states. GOLD'n GRO fertilizer
registrations were completed in Idaho, Oregon, and
Washington, and registration has been completed in seven
northeastern states including New York and New Jersey.
Currently GOLD'n GRO fertilizers are sold through
distributors in California, Arizona, Colorado, Nevada,
and Rhode Island. The Company will register products in
additional states in the future.
4) Expand the GOLD'n GRO specialty fertilizer line. The
Company has completed two new fertilizers, a high
magnesium content liquid fertilizer and a calcium plus
magnesium liquid fertilizer. Both products are being
field tested with commercial sales to begin in 2006.
Itronics has acquired 100 percent of the rights to the
GOLD'n GRO Guardian animal repellent fertilizer which
keeps deer away from landscaping while simultaneously
fertilizing the plants. The U.S. market for animal
repellents currently exceeds $50 million.
5) Complete the development and commercialize its new
glass/tile products, a $1 billion market in the U.S.
With the development of these products, Itronics will
achieve the 100 percent recycling of materials received
from customers.
6) Develop and commercialize metal leaching reagents for
the recovery of silver, gold and other precious metals.
Major strategic benefits to the Company include
developing non-photochemical silver and fertilizer
bearing raw materials, reducing the dependence on silver
bearing photochemicals and reducing costs while allowing
the Company to expand silver production more rapidly in
future years.
7) Continue facilities expansion and technology
development. The Company will continue to modify and
expand its production facility to accommodate growth in
sales.
8) Acquire established companies and/or technologies
when appropriate. The Company will continue to seek and
acquire technology, products, and small businesses that
facilitate its expansion.
"This is a very aggressive business plan that when
carried out successfully will add significant
shareholder value and grow Itronics into both a national
supplier of specialty liquid fertilizers to large volume
markets and a large silver refiner," said Dr. Whitney.
Itronics, through its subsidiary, Itronics
Metallurgical, Inc., is the only company in the world
with a "Beneficial Use Photochemical, Silver, and Water
Recycling" facility that extracts more than 99 percent
of the silver and virtually all the other toxic heavy
metals from used photoliquids and converts the resulting
liquids into environmentally beneficial, chelated,
multinutrient liquid fertilizer products sold under the
GOLD'n GRO trademark, and 5 troy ounce, 0.999 pure,
Silver Nevada Miner numismatic bars. The environmentally
friendly liquid fertilizers can be used for lawns and
houseplants, and are available, along with GOLD'n GRO
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.
Headquartered in Reno, Nevada, Itronics Inc. is Nevada's
leading "Beneficial Use Recycling" company and a world
leader in photochemical recycling. The Company also
provides project planning and technical services to the
mining industry. Dr. John Whitney, Itronics President,
was selected as Nevada's Inventor of the Year for 2000
and is a member of the Inventor's Hall of Fame at the
University of Nevada, Reno. Itronics was one of five
finalists for the 2001 Kirkpatrick Chemical Engineering
Award, the most prestigious worldwide award in chemical
engineering technologies.
(Statements in this press release may constitute
forward-looking statements and are subject to numerous
risks and uncertainties, including the failure to
complete successfully the development of new or enhanced
products, the Company's future capital needs, the lack
of market demand for any new or enhanced products the
Company may develop, any actions by the Company's
partners that may be adverse to the Company, the success
of competitive products, other economic factors
affecting the Company and its markets, and other risks
detailed from time to time in the Company's filings with
the Securities and Exchange Commission. The actual
results may differ materially from those contained in
this press release. The Company disclaims any obligation
to update any statements in this press release.) |
