SOURCE: AXcess News

AXcess News

January 28, 2010 16:10 ET

AXcess News: Itronics Enters New Phase of Development

HOUSTON, TX--(Marketwire - January 28, 2010) - Itronics, Inc. (PINKSHEETS: ITRO), a Reno-based manufacturer of environmentally friendly specialty fertilizers, has entered a new phase of development, having recently announced the planned expansion of its silver refinery. The long-awaited development means new sources of raw materials and higher output.

In commenting on the expansion plans, Itronics founder Dr. John Whitney said, "Once operational, this revolutionary technology will strengthen the company and open new pathways to growth."

Itronics, which operates the only EPA-approved plant in the nation to process photochemicals into liquid fertilizers recovering the heavy metals such as silver in the process, will be able to process up to 10 times as much silver with no cost increase. The Company forecast a 240,000 ounce annualized production capacity that at current metal prices could generate nearly $4 million in sales, and that's just one benefit.

The real growth will come from Itronics' expanding line of liquid fertilizers sold under the GOLD'n GRO brand, despite the time it takes to develop sales.

Out of the refinery development Itronics will generate two new fertilizer raw materials as byproducts. The materials would replace ingredients Itronics currently has to buy off the open market and for several varieties of Itronics' GOLD'n GRO fertilizers that means higher margins.

While the Company looks forward to a record year, when compared to its peers in the specialty chemical/ fertilizer sectors, Itronics has outperformed all of them in market cap growth during one of the worst economic periods since the Great Depression. More amazing than that, investors were diluted 38.5% during the same period.

A recent 8-K filing shows Itronics converted nearly $1 million of debt into equity from October, 2008 through January, 2010. When comparing the year-over-year period, the number of shares outstanding increased from 2.24 billion in January, 2009 to 3.08 billion as of January 14, 2010. Market cap increased from $5.40 million to $10.5 million over the same period -- a feat no other specialty chemical or fertilizer manufacturer can live up to.

In a telephone interview with Whitney Thursday in discussing those results, AXcess News came away with the impression that investors are going to be seeing constant record-setting results throughout 2010. While Itronics shares have increased 41.6% from $0.0024 to $0.0035, Whitney believes future growth will be just as impressive. Based on Itronics' recent developments, it appears he may be right.

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