SOURCE: AXcess News

June 07, 2005 06:00 ET

Photochemical Recycler Expands Market 100% Year-Over-Year

RENO, NV -- (MARKET WIRE) -- June 7, 2005 -- AXcess News has released a story covering the dramatic market growth of a small, little-known photochemical recycling company in Reno that's just first getting the media's attention.

Itronics, Inc. (OTC BB: ITRO) reported a 36% increase in sales for 2004 while managing to expand its GOLD'n GRO fertilizer market from 7 states to now 15 moving into 2005.

The company said that its GOLD'n GRO liquid fertilizer sales had grown 84% in 2004. But if sales are up, why is the company bleeding red ink?

Itronics collects the waste water left over from photographic processing plants and through its own proprietary process and equipment, removes all the heavy metals. The liquid fertilizer is based on those chemicals' recovery at its Stead, Nevada, processing plant, just North of Reno. GOLD'n GRO liquid fertilizer is then shipped in bulk to distributors, which now cover 15 of the toughest states environmental registration processes to market their agricultural liquid fertilizer.

The company has also developed a newer photochemical collection program where instead of collecting the chemicals and hauling them back to their Stead plant for processing, the photochemical labs are ponying up to buy the equipment from Itronics so they only have to ship the concentrate back, dramatically increasing margins.

On Friday, Itronics outlined an eight-part growth strategy that was really its original business plans, only now that the company's operations are becoming more established, management is able to portray what its doing, thus the growth strategy's outline.

Reading that news was like picking up the bits and pieces of what the company has been doing over the last couple of years and seeing it as whole, a process towards its goals. So when Itronics disclosed in its quarterly report that its losses had increased it made sense that investors who've tracked the stock didn't bail out.

How could losses keep investors from selling? How does that make sense? Well, look at it from a practical point of view. The company spent a long time tackling state registration requirements under rather tough environmental guidelines. That cost money and time to achieve. Then there were seasonal field tests and in some cases those stretched over into the next growing season before results were interpreted into sales. All that and your just first entering an agricultural chemical market that is slow to develop but consistent in market support once you do. Hence, higher losses, but slowly increasing market share.

Shares of Itronics closed down 9 percent Monday yet they were still nearly 30 percent higher than the year's low set in late May.

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