ITRONICS REPORTS 94 PERCENT INCREASE IN 2020 FIRST NINE MONTH'S SILVER SALES; GOLD'n GRO FERTILIZER SALES DOWN TWO PERCENT
October 20 2020 - 6:30AM
InvestorsHub NewsWire
ITRONICS
REPORTS 94 PERCENT INCREASE IN 2020 FIRST NINE MONTH'S SILVER
SALES; GOLD'n GRO FERTILIZER SALES DOWN TWO PERCENT
RENO, NV -- October
20, 2020 -- InvestorsHub NewsWire -- Itronics Inc.
(OTC:ITRO),
an emerging "Cleantech Materials" growth Company that manufactures
GOLD'n GRO Multi-Nutrient Fertilizers and produces Silver, reported
today that its first nine-month GOLD'n GRO fertilizer sales were
down two percent to $1,488,812 in the current year from $1,517,293
in the prior year period. Silver bullion nine-month sales
were $84,257, up 94 percent from $43,500 in the same period last
year.
"We
are pleased that GOLD'n GRO fertilizer sales were only down
slightly in the face of major negative pressure on fertilizer
demand due to COVID-19, and the loss of foreign tourists
significantly reducing demand for food products, combined with a
large reduction in exports of nuts and vegetables to major foreign
markets," said Dr. John Whitney, Itronics President. "Our GOLD'n
GRO sales team is successfully continuing the expansion of sales to
additional distributor retail branches started in 2019. This has
made it possible to maintain sales in 2020 under very challenging
conditions."
In
August the Company received approval to sell a new copper
micronutrient fertilizer commercially in California under a
provisional label. The Company is assembling the
information needed to formally register the fertilizer in Nevada
and California. Commercial sales into the California
strawberry market are expected to begin this fall.
The
GOLD'n GRO sales team has begun field testing a GOLD'n GRO
magnesium fertilizer. In recent years, widespread magnesium
deficiencies have emerged in the California vegetable and berry
growing areas. At the request of our distributor, we have upgraded
the fertilizer to a fully chelated magnesium fertilizer and have
generated the information needed for registration. This
magnesium fertilizer is registered and being sold in Nevada.
Field testing began in California in September to validate baseline
application rates and to provide new nutrient uptake data needed to
support commercial use in California vegetable and berry growing
areas.
Late in the
third quarter the Company made a silver bullion shipment. In
early October a silver-bearing glass shipment was made, and a
shipment of silver-bearing film is planned for late October.
These shipments are expected to be settled by year end and will
contribute to silver sales in the fourth quarter.
In
early August, Whitney & Whitney, Inc., the Company's technical
services subsidiary, signed a second research contract to further
evaluate the potential for silver tailings processing for a silver
mining company. The project is using the Company's newly developed
Rock Kleen Technology to accomplish the processing. The test
work is on-going and is producing positive silver, manganese, and
other metal recovery results.
Whitney &
Whitney, Inc. has also been soliciting and negotiating
confidentiality agreements with potential mining companies to
become joint venture partners for developing the Auric Fulstone
Project. It has high expectations that one or more mining
companies will have an interest in co-developing the Auric Fulstone
project in 2021, especially if gold and silver prices continue to
increase.
Itronics Inc.
is an emerging Clean Tech Materials Growth Company that produces
GOLD'n GRO Multi-Nutrient Fertilizers and Silver. The Company
is also an emerging "Critical Minerals" producer. The
Company's growth forecast centers upon its 10-year business plan
designed to integrate its Zero Waste Energy Saving Technologies and
to grow annual sales from $2 million in 2019, to $113 million in
2025.
About Itronics
Headquartered in
Reno, Nevada, Itronics Inc. is an emerging Cleantech Growth Company
that uses proprietary multi-nutrient fertilizer manufacturing
technologies to produce GOLD'n GRO multi-nutrient fertilizers and
breakthrough Zero Waste Technologies to recover fertilizer
ingredients, silver bullion, and silver-bearing glass from waste
streams that contain silver, gold, copper, zinc, tin, and other
metals. The Company's goal is to achieve profitable green
technology driven organic growth in specialty GOLD'n GRO
fertilizers, silver, zinc, and minerals. The Company's
technologies maximize the recovery and uses of metals and minerals
and by doing this maximize sustainability.
The
Company's environmentally friendly award winning GOLD'n 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.
Due to expanded retail customer interest, GOLD'n GRO fertilizer may
now be purchased in Reno, Nevada at "Buy Nevada First Gift Shop",
4001 S. Virginia St.
Follow Itronics on
Facebook: https://www.facebook.com/itronicsinc
Follow Itronics on
Twitter:https://twitter.com/itronicsinc
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VISIT OUR WEB SITE: https://www.itronics.com
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*
("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:
John Key
(775) 689-7666
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