Itronics Plans 100 Times Increase in Silver Refining Capacity
November 11 2008 - 5:00AM
Marketwired
Itronics Inc. (OTCBB: ITRO) (FRANKFURT: ITG) (BERLIN: ITG) reported
today that its wholly-owned subsidiary, Itronics Metallurgical,
Inc., is working to increase its silver refining capacity in two
stages, from 24,000 troy ounces per year to 2.4 million troy ounces
annually, a 100 times increase. Production at capacity with $10 per
troy ounce silver would increase silver sales from $240,000 per
year to $24 million.
The silver captured by Itronics is recovered from used photo
liquids, a highly acclaimed environmentally "Green" and
environmentally beneficial process.
Stage 1 involves installing a new leaching circuit in 2009 which
will reduce the amount of solids delivered to the refining
operation by 90 percent, while at the same time producing even
cleaner liquid raw materials for GOLD'n GRO fertilizer
manufacturing. Stage 2 is to install a new modular melting system
in 2010 which will reduce melt cycle times, reduce cost, and
increase physical capacity by up to 10 times.
Stage 1 will increase the per melt capacity of the refining
operation by 10 times with no increase in per melt cost. This
produces a 90 percent reduction of the per melt cost of each ounce
of silver produced. Stage 2, installation of the new melting
system, will further reduce the per melt cost and substantially
increase operational efficiencies. This two stage capacity
expansion will not only reduce direct operating costs, but will
also reduce "in process inventories" which will reduce working
capital requirements and improve the rate of inventory turnover,
major financial benefits to the Company and its shareholders.
"The increase in silver refining capacity will require related
expansion and improvement of materials handling capabilities at our
facility," said Dr. John Whitney, Itronics President. "We are
estimating that each of the two stages of expansion can be
completed for $500,000, for a combined capital investment of $1
million. Each installation is expected to take about 8 months to
complete. This relatively modest investment is made possible
because we already have two permitted locations within the facility
for these new operations."
"Existing limitations on silver recovery capacity and increases
in receipts of used silver-bearing photochemical liquids needed to
support expanding GOLD'n GRO liquid fertilizer and GOLD'n GRO
Guardian Deer Repellent sales, is driving this expansion," said Dr.
Whitney. "The silver produced by Itronics Metallurgical fits the
definition of 'Green Silver' and will open up new silver sales
opportunities."
On-going clean, cost reducing, process technology developments
are expected to provide the basis for continuing long term growth.
Itronics' expansion is a result of years of research and
development that has made its innovative vertically integrated
photochemical recycling technology an award winning success. The
technology completely converts the waste stream to pure silver, and
the high quality GOLD'n GRO brand of environmentally compatible
fertilizers. GOLD'n GRO Guardian Deer Repellent is a direct
extension of the GOLD'n GRO technology and is opening up a
significant new market segment for the Company.
About Itronics
Headquartered in Reno, Nevada, Itronics Inc. is a "Creative
Environmental Technology" company. Itronics, through its
subsidiary, Itronics Metallurgical, Inc. is the only company with a
fully permitted "Beneficial Use Photochemical, Silver, and Water
Recycling" plant in the United States that converts used
photoliquids into pure silver and GOLD'n GRO liquid fertilizers.
The Company also provides environmentally compatible mining
technology development, project planning, and technical services to
the gold mining industry and operates the popular InsideMetals.com
web site, http://www.insidemetals.com. which provides a value-added
WORLD VIEW of Gold Producer Stocks, Mineral Producer Stocks, Junior
Gold Stocks, and Junior Mineral Stocks. Itronics has received
numerous domestic and international awards that recognize its
ability to successfully create and implement new environmentally
compatible recycling and fertilizer technologies.
The Company's environmentally friendly GOLD'n GRO liquid
fertilizers can be used for lawns and houseplants, and are
available, along with liquid fertilizer injectors, at the Company's
"e-store" catalog at http://goldngro.com. The popular Silver Nevada
Miner bars are available at the Company's 'e-store' catalog at
http://www.itromet.com.
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
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