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Press
Release Archives: 07/26/2007
Itronics GOLD'n GRO Fertilizer Division Announces
Revenue Gains
RENO, Nev.--(BUSINESS WIRE)--Itronics Inc. (OTCBB:ITRO -
News; FWB:ITG) (BCN:ITG) reported today that first half
2007 GOLD'n GRO fertilizer sales reached $1,378,600
compared to $1,098,400 in the comparable 2006 period, an
increase of 26%. At the same time, GOLD'n GRO liquid
fertilizer sales were reported up 30% to $1,169,800 in
the first half of 2007. Fertilizer sales growth is
expected to continue for the balance of 2007.
Silver converted from photochemical liquids increased by
222% in the first half of 2007 as compared to the first
half of 2006. The company recognized Silver sales of
$120,900, a decrease of 25% during the first half 2007
due to reduced furnace availability caused by
uncontrollable electrical power surges in the refinery's
electrical supply. The Company is resolving the problems
and it is also revising its photochemical blending
procedures to increase the silver content of the silver
concentrates it is producing. The Company expects to
implement the revised photochemical blending procedures
in the current quarter. Silver sales will be reduced
until the electrical power supply problem is solved,
which could take two or three months. The Company will
continue to inventory silver until these problems are
resolved. The Company will continue to implement its
silver refinery expansion plans and is planning to
install a new screening system late in the current
quarter.
Photochemical services sales were $88,000 up 133% over
the first half of 2006. Photochemical gallons were up
433% reflecting the positive contribution being made by
new photochemical services agreements entered into in
the fourth quarter of 2006 and the first half of 2007.
Photochemical Services sales are expected to triple in
the third quarter due to delivery of a new Photochemical
Silver concentrator to one customer and upgraded
components to another customer.
Itronics expects to report full financial results for
the first half on August 14 when it files the 10-QSB for
the 2nd Quarter.
"The company is proceeding on schedule with the GOLD'n
GRO Guardian deer repellent fertilizer registration,
previously announced. Once the registration is completed
in early 2008, the Company expects GOLD'n GRO Guardian
deer repellent fertilizer sales to produce a further
significant increase in sales growth," said Dr. John
Whitney, Itronics' President. "The Company is continuing
to develop new crop applications for the established
GOLD'n GRO liquid fertilizers and is working on two new
bulk fertilizer field blends that are expected to
produce further growth in existing product sales in the
second half of 2007 and for the full year 2008."
The continued sales growth demonstrates the successful
implementation of the Company's eight part long term
growth plan."
About Itronics
Itronics, through its subsidiary, Itronics
Metallurgical, Inc., is the only company in the world
with a fully permitted Beneficial Use Photochemical,
Silver, and Water Recycling plant located in the United
States which. converts used photoliquids into pure
silver and liquid fertilizers. At the Company's Reno,
Nevada factory, more than 99 percent of the silver and
virtually all the other toxic heavy metals are extracted
from used photoliquids. The purified liquids are
converted into environmentally beneficial, chelated,
micronutrient and multinutrient liquid fertilizers sold
under the GOLD'n GRO trademark. The silver is refined
and sold as bullion 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.
Itronics Inc. is a "Creative Environmental Technology"
company and a world leader in photochemical recycling.
The Company also 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 WORLD VIEW of Gold Producer Stocks and
Junior Gold Stocks. Itronics has received numerous
domestic and international awards that recognize its
ability to successfully create and implement new
recycling and fertilizer technologies.
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:
Itronics Inc., Reno
Paul Knopick, 888-795-6336
www.itronics.com
Source: Itronics Inc. |
