Reno-Itronics Inc. has announced a major move to diversify and increase revenues. The company’s board has approved the formation of two special purpose subsidiaries to develop and commercialize environmentally friendly mining and mineral extraction and processing technologies. One subsidiary will research, develop, and commercialize the photochemical based thiosulfate technology to replace or neutralize cyanide, which is currently used in mining operations and which has been criticized for its impact on the environment. Itronics’ new technology is expected to be used for mineral extraction, including mine tailings, and reclamation of heap leach operations. The other subsidiary will acquire multi-mineral properties and strategic small specialty companies that are in early stage or commercial operation. These can be combined to form a larger operating company that will utilize advanced environmentally compatible technologies to mine, extract, and sell mineral and metal products from multi-mineral properties. “This is a third pathway to large scale growth for Itronics,” said Dr. John Whitney, Itronics president. “A major component of the photochemical wastes we turn into environmentally beneficial fertilizers is able to completely detoxify and eliminate cyanide, which is the main ingredient used to extract gold and silver out of low-grade ore. The mining industry has long sought a way to make this process environmentally benign.” The other pathways are the company’s environmentally beneficial Gold’n Gro fertilizer to large agricultural entities, and the sale of Gold’n Gro Guardian deer repellent fertilizer. In other news, Itronics reported Oct. 4 that third quarter 2007 Gold’n Gro fertilizer division sales by its subsidiary, Itronics Metallurgical, Inc., were $535,000 compared to $295,000 in the comparable quarter last year, an increase of 82 percent. Third quarter Gold’n Gro liquid fertilizer sales were $242,000, up 66 percent. For the first nine months of 2007, Gold’n Gro fertilizer division sales were $1.914 million compared to $1.393 million in the comparable period last year, an increase of 37 percent, while liquid fertilizer sales were $1.411 million, up 35 percent during this period. “Third quarter Gold’n Gro liquid fertilizer sales increased due to an expanded customer base,” said Whitney.
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