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Press
Release Archives: 10/15/2002
Itronics'
GOLD'n GRO Liquid Fertilizer Sales Up 278 Percent in
First Nine Months of 2002; Photochemical Services Revenues
Up 110 Percent in Third Quarter
RENO,
Nev.--(BUSINESS WIRE)--Oct. 15, 2002--Itronics Inc.
(ITRO - news) today announced that GOLD'n GRO fertilizer
sales by its subsidiary, Itronics Metallurgical, Inc.,
increased 278 percent in the first nine months of 2002
compared to the same period last year. Also during the
third quarter, completion of a Department of Defense
contract helped to increase photochemical services revenues
by 110 percent compared to the same period in 2001.
"Photochemical
recycling revenues are more than double technical service
revenues this year for the first time in our history,"
said Dr. John Whitney, Itronics' President. "This
welcome development demonstrates the strength of our
proprietary metallurgical and fertilizer chemistry technologies
and this maturation provides a strong foundation for
continued growth.
"In
September Itronics Metallurgical completed its first
full year of sales of GOLD'n GRO 9-0-1 +7% Zinc. The
successful introduction of this product, used in major
horticultural and agricultural markets, plus other new
GOLD'n GRO products, is expected to continue to drive
sales growth for our fertilizer segment," Dr. Whitney
said. "The strong fertilizer sales growth will,
we anticipate, drive our photochemical services and
silver sales."
Itronics'
President also emphasized that the increase in the price
of gold continuing this quarter is generating renewed
interest in gold projects throughout the Western U.S.
"This is expected to create new technical service
opportunities for our technical services subsidiary,
Whitney & Whitney, Inc. In fact, we have already
begun work on a major new project that we expect to
continue well into 2003," Dr. Whitney said.
"The
new opportunities for our technical services mean that
all four of the Company's sales segments should experience
growth in the coming year. Itronics has made the successful
transition from a research and development company to
a technology based recycling and manufacturing company
with exciting growth opportunities ahead," said
Dr. Whitney. "Our proprietary technologies and
demonstrated expertise are now maturing and provide
a strong foundation for continued growth."
Itronics,
through its subsidiary, Itronics Metallurgical, Inc.,
is the only company in the world with the technology
to extract more than 99 percent of the silver and virtually
all the other toxic heavy metals from photowaste and
to convert the resulting liquid into environmentally
beneficial, chelated, multinutrient liquid fertilizer
products sold under the trademark GOLD'n GRO. These
earth friendly liquid fertilizers, which can also be
used for lawns and houseplants, and the popular Silver
Nevada Miner bars, a souvenir of the Silver State, are
available at the Company's Web site: http://www.itronics.com.
Itronics
Inc. is one of Nevada's leading process technology development
companies and a world leader in photochemical recycling.
Headquartered in Reno, Nevada, it specializes in recycling
technology development, photobyproduct recycling, silver
refining, and technical services for the mining and
recycling industries. 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 award in the chemical process
industries worldwide.
VISIT
OUR WEB SITE: www.itronics.com
(The
statements in this news release that are not historical
facts or statements of current status are forward-looking
statements as defined in the Private Securities Litigation
Reform Act of 1995 that involve risk and uncertainties.
Actual results may differ materially.)
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