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Press
Release Archives: 06/15/2006
'InsideMetals.com' Reports That Despite a 20 Percent
Increase in Price of Gold, Only 14 of 33 U.S. Listed
Gold Producing Stocks Were Profitable in 2005
RENO, Nev., June 15 /PRNewswire-FirstCall/ --
InsideMetals.com, an internet information portal
operated by Whitney & Whitney, Inc., a wholly-owned
subsidiary of Itronics Inc. (OTC Bulletin Board: ITRO;
Frankfurt and Berlin Stock Exchanges: ITG), reported
today that year end financial results compiled using
audited financials filed with the U.S. Securities and
Exchange Commission show that only 14 of the 33 gold
producing companies listed on major U.S. stock exchanges
were profitable in 2005 despite a 20 percent increase in
the price of gold.
"The significant increase in the price of energy, and
raw materials, combined with the reduction in the
quality of ore mined and other technical reasons means
this sector was not as profitable as investors might
imagine despite the record increase in the price of
gold," said Mike Mapa, Editor, InsideMetals.com. "One of
the key reasons we developed this information website
was to help investors understand the complexities
involved in successfully investing in mining companies."
InsideMetals.com recently completed a major update of
its web site, including the 2005 financials. "We believe
that we are providing data, and insight, unavailable
anywhere else," Mr. Mapa said.
InsideMetals uses the gold producing company financials
to develop Ranking Numbers that indicate the investment
quality of the Gold Producers which are included in the
InsideMetals Gold Producer Stock Index.
"A gold producing company must be profitable to receive
a positive Ranking Number," Mr. Mapa. "We believe the
investment public will find it surprising that with the
run-up in gold prices in 2005, only 42 percent (14 of
the 33) of the companies were profitable in 2005."
"The updated Ranking Numbers for each company are
available to premium subscribers of InsideMetals.com,"
said Mr. Mapa. "Our Positive Ranking Numbers indicate
companies that are more likely to be better investments
than negatively ranked companies. Companies with higher
ranking numbers should provide better returns over time
than lower ranked companies. Negatively ranked companies
warrant caution and careful investigation."
"InsideMetals.com currently profiles thirty-three gold
producing companies and this year will be adding eight
additional companies as updates to the website are
completed. Ongoing improvements to the website will
include price charts that graph the index price
performance of the Gold Producing Company stocks
included in the InsideMetals Gold Producer Stock Index,"
said Mr. Mapa.
The InsideMetals Gold Producer Stock Index includes
mining companies listed on the New York Stock Exchange
(NYSE), American Stock Exchange (AMEX), and the NASDAQ.
To qualify, the mining companies must have at least 40
percent of their revenue from precious metals (gold,
silver, platinum, and palladium) and annual revenues
exceeding $1 million.
More information about InsideMetals can be obtained
through the internet at http://www.insidemetals.com .
Information may also be obtained by calling Whitney &
Whitney, Inc. at 775-689-7666.
About InsideMetals.com:
InsideMetals.com is sponsored and operated by Whitney &
Whitney, Inc., a mining management consulting firm based
in Reno, Nevada, "the heart of U.S. gold country."
Whitney & Whitney technical staff compiles and updates
the information presented by InsideMetals.com on its web
page under the supervision of Dr. John W. Whitney, a
well known and internationally recognized Ph.D. Mineral
Economist and Environmental Scientist, who is also the
President and founder of Whitney & Whitney, Inc. which
was established in 1977.
Whitney & Whitney, Inc. is a wholly-owned subsidiary of
Itronics Inc. which is Nevada's leading "Beneficial Use
Recycling" company and a world leader in photochemical
recycling.
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.)
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Source: Itronics Inc. |
