AXcess News: Itronics Looks to Double Green Silver Sales
February 27 2009 - 1:45PM
Marketwired
Reno-based Itronics, Inc. (OTCBB: ITRO) looks to double 'green
silver' sales this year as the Company moves closer to expanding
refinery capacity ten-fold.
The green technology company released a statement earlier this
week in which Itronics founder Dr. John Whitney said, "Full year
silver sales are expected to double."
On January 6, 2009 Itronics released its full-year results
indicating a 41% increase in silver sales last year. In the
fourth-quarter, silver sales rose 65%. According to the latest
news, Itronics had made arrangements to sell excess silver through
a refinery as an interim solution to its production bottleneck.
Itronics' cornerstone products, environmentally friendly liquid
fertilizers sold under its GOLD'n GRO brand, also saw significant
growth last year, as well as the introduction of a systemic deer
repellent whose initial sales met the Company's expectations. By
revealing more details this week, Itronics' increase in its highly
coveted 'green silver' set the stage for its next leg in expansion
of its fertilizer production while cutting costs in that
manufacturing process.
In a telephone interview Thursday, Dr. Whitney told AXcess News
the Company began its research and development for recovering iron
and zinc, dubbed the "Itromet FeLix Process" and the "Itromet SuLix
Process" which removes sulfur in its refinery expansion plans in
2002 and will "open a completely new set of horizons for growth,"
said Whitney.
While the stage 1 refinery expansion plan increases silver
production ten-fold, the cost savings for raw materials used in the
manufacture of Itronics' GOLD'n GRO fertilizers could be the real
jewel in Itronics crown.
In 2008 Itronics reported a 29% increase in fertilizer sales
despite a water shortage in California where bulk fertilizer sales
were made. Whitney had indicated a "significant backlog in orders"
and an expansion of its market in that January 6, 2009 release.
Now the Company looks to reap substantial savings in the
manufacture of its GOLD'n GRO fertilizer line through the recovery
of iron and zinc and sulfur removal, which could cut costs
substantially. Dr. Whitney would only say, "this could set the
stage for a meaningful expansion."
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