ITRONICS REPORTS 2021 FIRST QUARTER SALES; UPDATES CURRENT OPERATIONS AND GROWTH PROJECTS
ITRONICS REPORTS 2021 FIRST
QUARTER SALES; UPDATES CURRENT OPERATIONS AND GROWTH
PROJECTS
RENO, NV -- June 25, 2021 --
InvestorsHub NewsWire -- Itronics Inc. (OTC:ITRO),
an emerging “Cleantech Materials” growth Company that manufactures
GOLD’n GRO Multi-Nutrient Fertilizers and produces silver, gold,
zinc, critical minerals, and battery minerals recovered from
industrial and mining waste, today reported its first quarter 2021
sales and updated its operations and growth projects.
Total Revenues for the three months
ended March 31, 2021, were $410,988 compared to $670,822 in the
same period in 2020, a 39 percent decrease. The decline is
primarily due to effects of Covid-19 continuing from the fourth
quarter 2020.
During the second quarter of 2021 the
Company has had a backlog of fertilizer orders, but raw material
shortages and raw material supplier inability to timely deliver raw
materials has been a challenging issue and has limited our sales
due to inability to fill orders on a “just in time” basis.
Fertilizer delivery trucking has not been affected.
Covid-19 has had a significant
negative impact on Itronics fertilizer sales. In the first quarter
2020 the Company was on a path to double sales in 2020. That growth
was ended by the Covid-19 shut down starting in April 2020.
Late in the second quarter of 2021 demand is picking up. It appears
that sales are getting back on the growth path similar to the first
quarter 2020.
The 2021 outlook for full year silver
sales is uncertain due to limitations on operating supplies needed
to support the refining operations created by Covid-19 supply chain
disruptions. One bullion shipment was settled late in the second
quarter with very positive results. Silver content of the bullion
significantly increased due to on-going recovery optimization.
Value was also increased by sharply higher silver and gold prices
compared to 2020.
The Company’s research project to
produce metallic zinc is successfully using the Company’s
experimental electro-winning cell. Smooth zinc plate is being
obtained and the process is ready for expansion of a larger zinc
electro-winning cell which is being assembled and is nearly ready
for operational testing.
The Company has continued to move
forward in planning to expand the Rock Kleen technology to a pilot
scale operation, including evaluating the technical feasibility of
processing the mine tailings located on Auric Fulstone claims
adjacent to the former Minnesota Iron mine located in the
northwestern part of the Yerington Mining District at Yerington,
Nevada.
2021 First Quarter Sales
Results
Unaudited Revenues for the first
quarter ending March 31, 2021, together with comparative figures
for 2020 are presented below:
ITRONICS INC.
For the Quarter
Ended March 31
2021
2020
REVENUE
Fertilizer
$
407,175
$ 594,129
Silver
$
26
$
68,445
Photo
Services
$
1,951
$
4,461
Mining
Technical
Services
$
1,836
$
3,787
$
410,988
$
670,822
Operations and Expansion
Updates
GOLD’n GRO Multi-Nutrient
Fertilizers: Core sales are being maintained,
but growth is being restrained by continuing Covid-19 related
supply chain issues. During the first quarter the Company’s
distributor continued its Covid-19 retail branch access
restrictions, as well as restrictions on application development
activities. These restrictions were continued through the second
quarter, and our expectation is that they may be continued through
most of the third quarter. Company expectations are that these
issues will be resolved in a positive way in the August-September
time frame. This is based on information being provided to us by
our suppliers.
Silver Bullion and Other
Metal Production: The pilot scale computer
circuit board refining operation is now able to operate
reliably. Metal recovery optimization is underway and is
increasing bullion silver and gold content while at the same time
improving furnace efficiency and reducing the unit cost of metals
being recovered. During the second quarter supplies needed to
continue the pilot refining operation became unavailable due to
Covid-19 related supply chain issues, so the refining operation is
temporarily on hold. The Company is expecting to resume the
refining operation late in the third quarter or early in the fourth
quarter, but this is dependent on being able to obtain the required
operating supplies.
The experimental work to produce zinc
metal using electro-winning technology was started in early January
2021 using a laboratory scale electro-winning cell developed by the
Company. Small amounts of zinc metal have been produced while the
operating parameters were being developed. The Company plans
to expand zinc output in stages starting at laboratory scale and
expanding to pilot scale at the Company’s 35,000 square foot Reno,
Nevada manufacturing and R&D facility. The Company already owns
most of the equipment needed to do this. The equipment is on
site and can be put into operation with only minor
modifications. This work was put on hold in the second
quarter to free our research lab to start work on the Auric
Fulstone tailings evaluation for suitability for Rock Kleen
processing. The Company plans to restart this research later
in the year.
Processing zinc bearing flue dust is
one of the technologies in the Company’s portfolio of “Zero Waste
Energy Saving Technologies” that are being prepared for expansion
to commercial scale. Activating this technology development starts
the process of establishing the ability to produce pure metals
using electrochemistry and opens the door to processing alkaline
battery paste which contains zinc, manganese, and potassium. Some
of the new EV battery technologies use manganese, one of the four
most important battery metals, and this technology development may
enable the company to process Electric Vehicle (EV) battery pastes
in the future. In addition, the Company’s Rock Kleen
technology has shown the ability to recover the battery metals
nickel, manganese, and zinc from mine tailings, all of which will
need to be separated and recovered using
electrochemistry.
Rock Kleen Technology and
Business Plan Development: During the first
quarter 2020 the Company announced completion of a detailed
three-year growth plan for Reno manufacturing operations. A 10-year
growth plan for consolidated operations that include expansion to
the new “Itronics Cleantech Materials Campus” was completed in the
second quarter. This plan was updated in the third quarter to
factor in the 2020 impacts of Covid-19 on the growth plan. The
expected impacts of expanded materials recoveries using the Rock
Kleen technology were also incorporated into the plan. Itronics is
anticipating rapid growth over the next several years, to be driven
by GOLD’n GRO fertilizer sales and to be supported by development
of the new Rock Kleen technology which was selected from the
Company’s portfolio of “Zero Waste Energy Saving Technologies” for
commercial development as a major new line of
business.
A long-term objective for Itronics is
to become a leading producer of high purity metals, including the
U.S. critical metals manganese and tin, using the Company’s
breakthrough hydrometallurgy, pyrometallurgy, and electrochemical
technologies. Additionally, Itronics is also strategically
positioned with its portfolio of “Zero Waste Energy Saving
Technologies” to help solve the recently declared emergency need
for domestic production of Critical Minerals from materials located
at mine sites.
Auric Fulstone Polymetallic
Gold Project: Early in the first half 2021 the
Company began developing a modified business plan for Auric Gold
& Minerals that envisions that Auric would become a tailings
supplier for the Itronics Rock Kleen pilot plant that is being
planned. This update of the business plan is expected to be
completed in the third quarter.
If you would like to be added to our
e-mail list for all updates on our emerging clean technologies,
please call us at 775-689-7696, e-mail “investor@itronics.com”, or
leave a message in our message box on our website at
www.itronics.com so that we can get a profile report to you. The
Company thanks its supporters as it expands its technologies to
make the world cleaner and greener while continuing to expand
revenues and drive towards profitability.
About Itronics
Headquartered in Reno, Nevada, Itronics Inc. is
a “Zero Waste Energy Saving Technology” Company which produces
GOLD’n GRO specialty liquid fertilizers, silver bullion, and
silver-bearing glass. The Company is an emerging “critical mineral”
and “battery materials” producer. The Company’s goal is to
achieve profitable cleantech materials technology driven organic
growth in specialty GOLD’n GRO fertilizers, silver, gold, zinc,
critical minerals, and battery minerals. The Company’s
technologies maximize the recovery and uses of metals and minerals
and by doing this maximize sustainability.
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 $100 million in 2025.
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 ;
* * * * * * * * *
*
VISIT OUR WEB SITE:
http://www.itronics.com
("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:
Paul Knopick
888.795.6336
Itronics (CE) (USOTC:ITRO)
과거 데이터 주식 차트
부터 2월(2) 2025 으로 3월(3) 2025
Itronics (CE) (USOTC:ITRO)
과거 데이터 주식 차트
부터 3월(3) 2024 으로 3월(3) 2025
