Itronics Forecasts a 400 Percent Increase in First Quarter Silver Sales; Significant Increase Expected in 2020
First Quarter Silver Sales Top Entire 2019 Sales Total
??RENO, Nevada, Jan. 29, 2020 /PRNewswire/ -- Itronics Inc. (OTC: ITRO), an emerging "Clean Tech Materials" growth Company that produces GOLD'n GRO Multi-Nutrient Fertilizers and Silver, reported today that its forecasted first quarter 2020 silver sales are expected to be up more than 400 percent in the first quarter compared to first quarter 2019 and double the entire 2019 silver sales.
First quarter silver sales are forecasted to approach $90,000, a more than 400 percent increase over the first quarter 2019. Silver sales in 2019 totaled $43,700.
The increase in the first quarter is due to settlement of a November 2019 silver bullion shipment and a December 2019 silver-bearing glass shipment. Preliminary settlement results have been received and are the basis for this revised forecast.
"In early January, we forecasted an increase of 100 percent in first quarter silver sales," said Dr. John Whitney, Itronics President. "The measured silver content of the bullion is higher than forecasted and the silver content of the glass is also higher. The December glass shipment included material from refining melts that failed during the development work in 2017 and 2018, which generated the unexpectedly high silver results. Melt failures were eliminated in 2019. The increase in silver in the bullion is a direct result of process optimization which is on-going and is continuing to increase the silver content of the bullion."
Itronics is forecasting that it will make two or three bullion shipments in 2020 and another smaller glass shipment may also be made. These forecasted shipments will further increase full year sales. Silver and gold prices are continuing to increase and are expected to add to 2020 results.
Itronics' breakthrough pilot scale circuit board refining operation is producing the silver bullion and silver-bearing glass and is an emerging Zero Waste Technology. All of the circuit boards and other feed materials to the process are converted to silver bullion and silver-bearing glass, thereby completely eliminating the circuit board waste from the environment. The increased silver production is a result of dramatic improvements in pilot plant operating efficiencies which are continuing as operating experience is gained.
