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Press
Release Archives: 10/10/2006
Itronics
Reports a 28% Increase in GOLD'n GRO Fertilizer Division
Third Quarter 2006 Sales and a 37% Increase for First
Nine Months
RENO, Nev., Oct. 10 /PRNewswire-FirstCall/ -- Itronics
Inc. (OTC Bulletin Board: ITRO; Frankfurt and Berlin
Stock Exchanges: ITG) reported today that third quarter
2006 GOLD'n GRO fertilizer division sales by its
subsidiary, Itronics Metallurgical, Inc., were $295,000
compared to $231,000 in the comparable quarter last
year, a 28 percent increase. Third quarter GOLD'n GRO
liquid fertilizer sales were $145,800, up 36 percent.
Third quarter silver sales were $126,100, up 97 percent.
First nine months GOLD'n GRO fertilizer division sales
were $1,393,000 compared to $1,015,000 in the comparable
period last year, an increase of 37 percent. First nine
months GOLD'n GRO liquid fertilizer sales were
$1,046,000, up 30 percent. Sales of silver during the
first nine months totaled $286,800, up 161 percent.
Itronics expects to report full financial results for
the third quarter ended September 30, 2006 on November
14, 2006 when it files its Third Quarter Form 10-QSB.
"GOLD'n GRO liquid fertilizer sales increased due to a
shift in product mix, with an increase in sales of the
chelated micronutrient metal products which have higher
unit values than the GOLD'n GRO multinutrient blends,"
said Dr. John Whitney, Itronics President. "Sales of the
GOLD'n GRO base liquid also increased, with continuing
increases expected based on positive results obtained in
field trials on silage corn, and from use in bulk blends
applied in citrus fertigation this year."
"The Company tripled silver recovery and refining
capacity in the first quarter and the continuing
increase in silver sales reflects this," said Dr.
Whitney.
During the quarter, development work on the new
iron-zinc-silver concentrate leaching process continued
and development of a pilot leaching circuit is now
underway. The leaching process reduces silver refining
cost and increases silver refining capacity by reducing
the bulk volume of solids fed to the silver refinery by
50 percent. At the same time the process produces
iron-zinc base liquids for use in manufacturing GOLD'n
GRO liquid chelated micronutrient metal fertilizers,
which reduces the cost of raw materials needed to
produce the fertilizers.
"Itronics is an emerging producer of high quality
chelated liquid micronutrient fertilizers," said Dr.
Whitney. "The Company's goal is to use raw material
sourcing and advanced cost reducing process technology
as drivers to become an industry leader in this
fertilizer segment."
"The third quarter and first nine month sales increases
demonstrate that Itronics eight part long term growth
plan, announced in June 2005, is being successfully
implemented," Dr. Whitney said.
About Itronics
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 a
"Creative Environmental Technology" company and a world
leader in photochemical recycling. The Company also
provides project planning and technical services to the
mining industry and operates the global Gold Producing
Stocks web site, http://www.insidemetals.com. Itronics
was one of five finalists for the 2001 Kirkpatrick
Chemical Engineering Award, the most prestigious
worldwide award in chemical engineering technologies.
Itronics was awarded second place, Highly Commended in
the Environmental Technology category, at the
prestigious Institution of Chemical Engineers (IChemE)
2005 Worldwide Environmental Award ceremonies at the
Royal Courts of Justice in London, England in September
2005. Itronics was awarded the USA Gold Award at the
House of Commons in London in November 2005 as part of
the International Green Apple Environmental Awards
contest, one of the largest and most prestigious of its
kind in the world and the International Green Hero award
in 2006 for its leadership on environmental issues.
Itronics' GOLD'n GRO fertilizer was named one of the top
10 new technologies representing the best of
agricultural innovation by the Canadian Association of
Agri-Retailers in its December 2005 publication
"Communicator". 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.
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. |
