FORT LAUDERDALE, Fla. and RENO, Nev., Jan. 24, 2000 (PRIMEZONE) -- The Dick Davis Digest, one of the oldest and most prestigious investment newsletters, in its January 17th edition featuring its 8th annual "Top Stock Picks" survey, has chosen Itronics Inc. (OTC BB:ITRO), recommended by Skip Nordstrom's Growth Stock Newsletter.
In an Editor's Note, the Dick Davis Digest said that "it is rare that two editors repeat the same top stock pick two years in a row. Itronics should be viewed as a high-risk/high-reward pick."
Itronics Metallurgical, a wholly owned subsidiary of Itronics Inc., Reno, NV., is the only company in the world with the technology to completely recycle used photochemicals, converting them into a top-rated, environmentally sound liquid fertilizer and extracting the silver for commercial uses. The Company recently began start-up operations at its 35,000 square foot factory for manufacturing in Stead, NV. Itronics' technology allows the recovery of 99.999 percent of the heavy metals from used photographic liquid chemicals. It is estimated that more than 100 million gallons of photographic liquid wastes are generated in the U.S. every year.
Itronics sells its Gold'n Gro fertilizer products through the second largest bulk fertilizer retailer in the U.S. The recycled silver is sold to major users of this precious metal or converted into one of only two five-ounce silver bars manufactured in the U.S.
In his analysis, Skip Nordstrom says: "For the 12 months ending 9/30/99, 24.8 million shares traded, compared to 7.9 million shares for the twelve months ended 9/30/98. The price rose from $0.20 to around $0.70 at the present time, with a high of $1.01 in February 1999. The firm has raised approximately $2.2 million from a 1998 private placement, while more than $600,000 of equipment for a new manufacturing facility has been acquired via lease financing. The number of prospective golf course customers for the firm's fertilizer products has risen from 60 a year ago to over 115.
"A year ago, we said if the stock wasn't $2 or more within two years, we would get out of this business," Nordstrom continued. "Everything is on track."
The Dick Davis Digest, published every two weeks, provides serious investors with a time-saving, cost-effective overview of the market. It is the investment newsletter of choice for investment professionals, as well as individual investors.
(The statements in this news release that are not historical facts or statements of current status are forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995, that involve risk and uncertainties. Actual results may differ materially.)