SOURCE: AXcess News

AXcess News

February 27, 2009 13:46 ET

AXcess News: Itronics Looks to Double Green Silver Sales

HOUSTON, TX--(Marketwire - February 27, 2009) - Reno-based Itronics, Inc. (OTCBB: ITRO) looks to double 'green silver' sales this year as the Company moves closer to expanding refinery capacity ten-fold.

The green technology company released a statement earlier this week in which Itronics founder Dr. John Whitney said, "Full year silver sales are expected to double."

On January 6, 2009 Itronics released its full-year results indicating a 41% increase in silver sales last year. In the fourth-quarter, silver sales rose 65%. According to the latest news, Itronics had made arrangements to sell excess silver through a refinery as an interim solution to its production bottleneck.

Itronics' cornerstone products, environmentally friendly liquid fertilizers sold under its GOLD'n GRO brand, also saw significant growth last year, as well as the introduction of a systemic deer repellent whose initial sales met the Company's expectations. By revealing more details this week, Itronics' increase in its highly coveted 'green silver' set the stage for its next leg in expansion of its fertilizer production while cutting costs in that manufacturing process.

In a telephone interview Thursday, Dr. Whitney told AXcess News the Company began its research and development for recovering iron and zinc, dubbed the "Itromet FeLix Process" and the "Itromet SuLix Process" which removes sulfur in its refinery expansion plans in 2002 and will "open a completely new set of horizons for growth," said Whitney.

While the stage 1 refinery expansion plan increases silver production ten-fold, the cost savings for raw materials used in the manufacture of Itronics' GOLD'n GRO fertilizers could be the real jewel in Itronics crown.

In 2008 Itronics reported a 29% increase in fertilizer sales despite a water shortage in California where bulk fertilizer sales were made. Whitney had indicated a "significant backlog in orders" and an expansion of its market in that January 6, 2009 release.

Now the Company looks to reap substantial savings in the manufacture of its GOLD'n GRO fertilizer line through the recovery of iron and zinc and sulfur removal, which could cut costs substantially. Dr. Whitney would only say, "this could set the stage for a meaningful expansion."

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