Itronics Reports 2016 Sales and Updates Operations Expansion and Diversification Progress

Itronics (OTCPINK:ITRO) reported its operations and diversification progress and announced sales results for the twelve months ended December 31, 2016. 2017 sales are expected to improve significantly due to the end of the severe drought in California and start of pilot scale e-scrap refining.
As quoted in the press release:

Total Revenues for the 12 months ended December 31, 2016 were $1,433,742 compared to $1,842,041 in 2015, a decrease of 22 percent. GOLD’n GRO fertilizer sales decreased by 20 percent. Most of the sales decline occurred in the first half of 2016. The Company had previously reported that 2016 was a difficult year due to adverse weather and difficult market conditions for California growers, a large market for the Company’s GOLD’n GRO fertilizers.
“The year 2016 was a transition year for Itronics during which the Company’s new five times scale up pilot leaching reactor was completed, and in which the Company succeeded in creating a new method for refining e-scrap to recover copper, gold, and palladium as saleable metals. These technologies are being put into pilot scale operation in 2017. The start of pilot scale e-scrap refining marks the beginning of Phase III of the Company’s e-scrap refining study which began in 2015. Silver sales will provide an expanding non-seasonal sales component to mitigate the seasonality and weather influenced variability of fertilizer sales,” said Dr. John Whitney, Itronics President.

Click here for the full press release.

Source: www.itronics.com