Miami, FL–(EmergingGrowth.com NewsWire – January 23, 2020) – EmergingGrowth.com, a leading independent small cap media portal with an extensive history of providing unparalleled content for the Emerging Growth markets and companies, reports on Itronics, Inc. (OTC: ITRO).
Shares of emerging Cleantech Growth Company Itronics, Inc. (OTC: ITRO) peaked in September 2018 to $2.00 per share and have been on a slide ever since. However three key event just presented themselves.
- Earnings. The company just announced a 48% increase in 2019 sales over the same period 2018.
Full year GOLD’n GRO fertilizer sales were $1,839,000 in 2019 up from $1,245,000 in the prior year period for an increase of $594,000, or 48 percent. Full year silver bullion sales were $43,700 up from $19,547 in the same period last year for an increase of $24,153, or an increase of 124 percent.
Silver bullion sales were flat in the fourth quarter, but are expected to increase 100 percent in the first quarter due to settlement of a November 2019 silver bullion shipment and a December 2019 silver-bearing glass shipment. Final settlement results will be dependant upon silver and gold prices which are currently increasing strongly.
Itronics recently completed a detailed 2020 GOLD’n GRO sales plan which indicates that 2020 first quarter sales could approach $1.4 million for an increase of more than $1.0 million from the 2019 first quarter. Full year sales are projected to double to $4.0 million of which $2.8 million is forecasted for the first 6 months. The Company believes that the second half sales forecast will need to be revised substantially higher if sales development in the California coastal vegetable and berry markets progresses as expected.
Dr. John Whitney, President, Itronics, Inc. stated… “It is unusual for us to publish forecasted sales, but this year the forecasted sales increases are so large right at the beginning of the year that we felt compelled to inform our shareholders and other stakeholders as soon as possible. Our GOLD’n GRO sales team has been very successful in meeting internal forecasts for the past several months giving us a high confidence level in the sales forecasts going forward”
2. Technicals. The stock just crossed both the 100 and 200 day on both the daily and weekly charts.
Both the 100 and 200 bar moving averages are respected indicators and must be respected. A stock that breaks above, tends to move higher and stays above, and a stock that breaks below, tends to move lower and stays below.
Itronics is still a not very well known company in the space, but volume has been getting a bit more consistent and the stock is up from its recent lows of about $.35 per share.
Dr. Whitney also stated in a recent press release… “This year Itronics has continued its transformation to a more diversified, fully integrated growth company by completing acquisition of the 48-acre Wabuska manufacturing site, by preparing and publishing an updated business growth profile, by beginning a detailed 10-year expansion plan, by expanding its breakthrough technology research and development, and now by launching an updated website that is fully functional for mobile users,” said Dr. Whitney. “These steps are transforming Itronics into a Cleantech Growth Company that is expanding along defined pathways to achieve long term profitable growth.”
The Company’s GOLD’n GRO fertilizers improve the delivery of mineral nutrients from the soil to plants thereby improving crop quality and yield. Low cost materials that are recovered from waste streams using Itronics’ proprietary technology are used as ingredients in the GOLD’n GRO fertilizer formulations. This provides high quality ingredients for the fertilizers, competitive pricing for our customers, and contributes significantly to long term sustainability.
3. Development of a Ten-Year Expansion Plan Underway
During the first quarter of 2019 the Company, with the assistance of senior industry experts, began development of a detailed 10-year operations and expansion plan. One objective is to produce an operations expansion and financial plan to guide operations development and to define financing needed to support expansion. Itronics is expecting to achieve rapid growth over the next several years, to be driven by GOLD’n GRO fertilizer sales and to be accelerated by development of additional technologies from the Company’s portfolio of “Zero Waste Technologies.”
The Company has completed the Reno Operations portion of this plan which defines the capital investment needs and an associated growth path which is primarily driven by growth in sales of the GOLD’n GRO fertilizers. Within three years the growth is expected to be supplemented by circuit board refining and projects to be developed using the breakthrough “Rock Kleen” technology to accomplish recovery of residual silver and gold, while neutralizing residual cyanide by reprocessing silver/gold heap leach tailings at mine sites in Nevada. The Wabuska development and operations planning is just beginning and will be advanced in 2020 as more knowledge of project requirements is gained from on-going research and pilot testing. The Company goal is to begin permitting followed by construction within the next 2 to 3 years.
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 multinutrient 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 – Click here, or the image above.
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
(“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.)
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