Itronics 2011 First Half Revenues Increase 9 Percent
July 14 2011 - 8:30AM
Marketwired
Itronics Inc. (PINKSHEETS: ITRO) reported today that total Revenues
for the first half of 2011 increased by 9 percent to $1,906,000
from $1,748,000 in 2010. First half GOLD'n GRO Fertilizer Revenue
increased 4 percent and Silver Revenue increased 52 percent due to
higher silver prices.
GOLD'n GRO fertilizer sales in the second quarter were flat
compared to the 2010 second quarter due to unseasonably cool
weather in California's central valley and coastal areas, the
Company's primary fertilizer market. Silver sales were up 34
percent in the second quarter compared to the same period in 2010
because of higher prices.
The average silver price per troy ounce in the first half of
2011 was $36.40, up from $21.62 per troy ounce in the first half
2010, a 68 percent increase.
"Silver output is directly related to production of base liquids
for fertilizer manufacturing. Because of this, silver production
for the balance of 2011 will be directly dependent upon the level
of GOLD'n GRO fertilizer sales volumes. Historically high silver
prices are expected to continue to contribute to a solid increase
in silver revenues. The silver captured by Itronics is recovered
from spent photo liquids, an award winning environmentally 'Green'
and beneficial process. The de-silvered photo liquids are converted
to base liquids for use in manufacturing the environmentally
beneficial line of GOLD'n GRO liquid fertilizers," said Dr. John
Whitney, Itronics President.
Unaudited Revenues for the second quarter, and first half ended
June 30, 2011 together with comparative figures for 2010 are
presented below:
ITRONICS INC.
For the Quarter For the 6 Months
Ended June 30 Ended June 30
2011 2010 2011 2010
REVENUE
Fertilizer $ 1,117,128 $ 1,120,347 $ 1,536,419 $ 1,476,596
Silver $ 259,170 $ 193,188 $ 330,132 $ 217,084
Photo Services $ 17,768 $ 27,259 $ 38,466 $ 50,807
Mining Technical
Services $ 433 $ 633 $ 801 $ 3,163
Total Revenues $ 1,394,499 $ 1,341,427 $ 1,905,818 $ 1,747,650
In the first half of 2011 Auric Gold & Minerals, Inc
received expressions of interest in its Fulstone Project Iron Oxide
Copper Gold project in the Yerington Mining District in Nevada from
three of the worlds largest copper mining companies, which are
being followed up. In the second quarter Auric began a new phase of
claim staking at the Fulstone Project which is expanding the
project area by more than 45 percent to more than 8,400 acres, up
from approximately 5,780 acres. This phase of claim staking is
nearly complete. Whitney & Whitney, Inc., Itronics'
wholly-owned mining & technical services subsidiary, currently
owns more than 63 percent of Auric.
About Itronics Headquartered in Reno,
Nevada, Itronics Inc. produces GOLD'n GRO liquid fertilizers and
silver bullion. Itronics, through its wholly-owned subsidiary
Whitney & Whitney, Inc. is developing environmentally
compatible mining technology, is now providing project planning and
technical services to its mining affiliate Auric Gold &
Minerals, Inc., and operates the popular InsideMetals.com web site:
http://www.insidemetals.com, which provides a value-added WORLD
VIEW of Gold Producer Stocks, Mineral Producer Stocks, Junior Gold
Stocks, and Junior Mineral Stocks.
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. The Company's business is subject to
significant 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 any
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: Paul Knopick 888-795-6336
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