UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
September 15, 2015
ITRONICS INC.
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Texas
33-18582
75-2198369
(State or other jurisdiction
(Commission File
(IRS Employer
of incorporation)
Number)
Identification No.)
6490 So. McCarran Boulevard, Building C, Suite 23 Reno, Nevada
89509
(Address of Principal Executive Offices)
Zip Code
Registrants telephone number, including area code:
(775) 689-7696
Check the appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following provisions (see
General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
(17 CFR 240.13e-4(c))
Item 2.02: Results of Operations and Financial Condition
On September, 2015 the Company announced its unaudited consolidated
revenues for the quarter and six months ended June 30, 2015. A copy of the press release
is attached as Exhibit 99.1.
In accordance with General Instruction B.2 of Form 8-K, the information
in this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed to be
"filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as
amended (the "Exchange Act"), or otherwise subject to the liability of that
section, and shall not be incorporated by reference into any registration statement or
other document filed under the Securities Act of 1933, as amended, or the Exchange Act,
except as shall be expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits
Exhibits:
99.1 Press Release dated September 15, 2015
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.
ITRONICS INC.
(Registrant)
Date: September 16, 2015
By: /S/ John W. Whitney
John W. Whitney
President, Treasurer and Director
(Principal Executive and Financial
Officer)
2
Exhibit 99.1
FOR IMMEDIATE RELEASE
******************************************************************
ITRONICS DETAILS REVISED BUSINESS PLAN FOR INVESTORS
-- Six Month Financial Results --
RENO, Nevada, September 15, 2015 -- Itronics
Inc. (OTC:ITRO) a diversified fertilizer, silver, and mineral producer, today updated its
business plan for investors, detailed progress that has occurred this year and announced
its first six month financial results.
"One of Itronics fundamental strengths is its ability to
creatively determine how to convert hazardous waste materials into commercial goods. The
Company is diversifying its operations by developing core technologies to establish
year-round non-seasonal sales in new markets. This expansion of operations is now being
organized and integrated into Itronics business operations to generate new sources
of non-seasonal revenue. Progress has been detailed in press releases issued by the
Company," said Dr. John Whitney, President.
The Companys focus is (1) To expand and improve its silver
recovery and refining operation by adding e-scrap as a feed material to recover silver,
gold, and palladium; (2) To develop cyanide silver-gold recovery improvements using one of
its proven fertilizers (KAM-Thio) in silver mining to reduce the use of cyanide; (3) To
evaluate other potential industrial applications for the KAM-Thio technology; (4) To
utilize the Companys zinc oxide recovery technology to process zinc-bearing flue
dusts to recover zinc for use in GOLDn GRO fertilizers and (5) To produce high
purity zinc metal for sale.
The Companys Auric Fulstone Copper-Gold Project in Nevada is a
mineral development project. Itronics has identified the presence of near surface high
grade zinc minerals accompanied by lead and silver. This project is being advanced with a
limited budget with the objective of identifying the extent of zinc-lead-silver and the
potential for near-term development.
Itronics has expanded its technical capabilities to include electrical
technology improvements to save energy. The new refining furnace technology now being
operated commercially is demonstrating an energy savings of 34 percent, with a 12 percent
increase in operating temperatures, compared to the technology that was replaced. The zinc
metal recovery technology that is being developed may save as much as 40 percent in
electrical energy, which is a large enough savings to become an economic driver for the
project.
First Half Operation Developments
GOLDn GRO fertilizers
Two new field applications for one
of the GOLDn GRO multi-nutrient fertilizers are being introduced by our distributor.
Initial sales produced a five percent increase in fertilizer volume sold and are expected
to expand.
Silver Production One of the silver production furnaces has
been operating reliably since mid-May. The second production furnace is fully assembled,
tested, and ready for operation. The first bullion shipment using the new refining system
is now expected in September and will include bullion produced with an e-scrap component
in the refining feed material.
The FeLix, SuLix leaching technology pilot scale development is
continuing and is ready for another scale up so that a larger quantity of leached solids
can be passed to the refinery for silver separation and purification. The processing is
now achieving goals announced. About 75 pounds out of each 100 pounds of the feed material
to the leaching process is now being recovered for raw material for the manufacture of
GOLDn GRO fertilizers. All of the silver in the leach process feed materials is
contained in the residues, greatly improving the productivity of the refining furnaces.
The leaching technology reduces the cost of goods for GOLDn GRO
fertilizer production and it significantly reduces the refining cost for silver bullion
production.
The Company has been processing silver-bearing photographic liquids and
accumulating the silver-bearing solids since December 2013. There is a backlog of
silver-bearing material available for leaching and transfer to the refinery. This backlog
will be processed with the expanded leach system, which is in final stages of engineering,
and is now a high priority for installation and start up. It is expected that capital will
be invested in a new, larger prototype chemical reactor system for leaching and for
improvements in electrical distribution and power stabilization for research and
development. Total capital to complete this project is expected to be approximately
$50,000.
E-scrap processing feasibility study. Itronics previously
announced a feasibility study to determine whether e-scrap processing can be integrated
into its new refining operation. New refining furnaces operate in a temperature range that
is suitable for processing these materials. The project can increase the value of each
melt by recovering silver, gold, and palladium that is contained in e-scrap.
The Company has mounted a shredder on a portable base, installed the
necessary electrical connections, and tested the shredder for suitability for shredding
e-scrap. Itronics has determined how much e-scrap can be introduced into each melt and is
now producing silver bullion that is expected to contain some gold and palladium.
Zinc Flue Dust Process Development. The Company previously
announced a technical breakthrough by successfully testing electrowinning as a process to
recover metallic zinc powder from zinc enriched liquids that are produced by leaching zinc
oxide from zinc bearing flue dust. The innovative zinc recycling technology Itronics is
developing is expected to eliminate the waste completely by converting all components to
saleable goods. The process being developed may use up to 40 percent less electrical
energy compared to conventional zinc refining. The potential energy savings would be a
strong economic driver for the project.
Auric Fulstone Project. Itronics subsidiary, Whitney
& Whitney, Inc., has identified surface high grade zinc-lead-silver mineralization at
its Auric Gold & Minerals Fulstone copper-gold exploration project. Discovery of the
potential for significant zinc, lead, and silver mineralization increases the economic
attractiveness of the project. The Fulstone project is located in the Yerington Mining
District in northwestern Nevada where three large copper deposits are being actively
developed. One of the large copper deposits is about five miles from the Fulstone Project.
Additional field sampling and geological analysis was performed to provide a better
understanding of the extent and possible geological controls over the near surface
zinc-lead-silver at the project.
Operating Results
Total Revenues for the six months ended
June 30, 2015 were $1,256,062 compared to $1,346,111 in the same period in 2014, a
decrease of seven percent. GOLDn GRO fertilizer sales volume increased by five
percent, but revenues were down two percent due to a shift in product mix.
Unaudited Revenues for the second quarter and six months ended June 30,
2015 together with comparative figures for 2014 are presented below:
Itronics, Inc
.
|
For the Quarter |
For the Quarter |
For the 6 Months |
For the 6 Months |
|
Ended June 30, 2015 |
Ended June 30, 2014 |
Ended June 30, 2015 |
Ended June 30, 2014 |
REVENUE |
|
|
|
|
Fertilizer |
$707,514 |
$788,233 |
$1,223,977 |
$1,254,217 |
Silver |
413 |
632 |
805 |
1,956 |
Photo services |
7,062 |
9,541 |
14,903 |
23,788 |
Mining Tech Services |
10,793 |
50,211 |
16,377 |
66,150 |
TOTAL
REVENUES |
$725,782 |
$848,617 |
$1,256,062 |
$1,346,111 |
|
|
|
|
|
|
|
|
|
|
About Itronics
Headquartered in Reno, Nevada, Itronics Inc. is a "Creative Clean
Technology" Company which produces GOLDn GRO specialty liquid fertilizers and
silver bullion. It owns a large Iron Oxide Copper Gold (IOCG) mineral property (the Auric
Fulstone Project) in the prolific Yerington Copper Mining District in northwestern Nevada.
The Companys goal is to achieve profitable clean technology driven organic growth in
specialty GOLDn GRO fertilizers, silver, zinc, and minerals. The Companys
technologies maximize the recovery and use of metals and minerals.
Through its subsidiary, Itronics Metallurgical, Inc., Itronics is the
only company with a fully permitted "Beneficial Use Photochemical, Silver, and Water
Recycling" plant in the United States that converts more than 99.5 of the spent
photoliquids into pure silver and GOLDn GRO liquid fertilizers. The Company is
developing environmentally compatible waste processing and mining technology. Itronics has
received numerous domestic and international awards that recognize its ability to
successfully use science and engineering to create and implement new environmentally clean
recycling and fertilizer technologies.
The Companys environmentally friendly GOLDn GRO liquid
fertilizers, which are extensively used in agriculture, can be used for lawns and
houseplants, and are available at the Company's "e-store" on Amazon.Com at:
http://www.amazon.com/s/ref=bl_sr_lawn-garden?ie=UTF8&field-brandtextbin=GOLD%27n+GRO&node=2972638011
* * * * * * * * * *
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.)
Contact: Paul Knopick
888-795-6336
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