Itronics Begins Stage I Silver Refinery Expansion to Increase Silver Refining Capacity by 10 Times
October 15 2009 - 10:20AM
Marketwired
Itronics Inc. (PINKSHEETS: ITRO) (FRANKFURT: ITG) (BERLIN: ITG)
reported today that its subsidiary, Itronics Metallurgical, Inc.,
has obtained the funding needed to begin installation of its Stage
I Silver Refinery expansion to increase silver refining capacity by
a factor of ten. The expansion provides numerous benefits,
including that the company will be able to expand sales of silver
extracted from spent photoliquids.
In a press release dated November 11, 2008, Itronics announced
plans for expansion of its silver refining capacity in two stages
from 24,000 ounces per year to 2.4 million ounces per year. The
Stage I expansion will increase nominal silver refining capacity to
240,000 ounces per year by increasing the per melt capacity of the
refining operation by 10 times with no increase in per melt cost.
This produces a 90 percent decrease of the per melt cost of each
ounce of silver produced.
Production at the new capacity, with a price of $15.00 per troy
ounce of silver, would increase refined silver sales from $360,000
per year to $3.6 million per year.
The increase in per melt capacity will be more than sufficient
to accommodate intermediate term growth, and will also provide the
capacity for acquisition of new silver-bearing sources to further
expand growth.
The Stage I refinery expansion incorporates two new
environmentally beneficial leaching processes, Itromet FeLix
Process and Itromet Sulix Process, which were described in a press
release dated November 6, 2007. The Itromet FeLix and SuLix
Processes provide the ability to separate nutrient metals and
minerals (iron, zinc, and sulfur) from silver- and gold-bearing
solids. The solids are produced by the spent photoliquid
demetallization process that Itronics Metallurgical uses to remove
the silver from spent photographic liquids. The nutrient metals are
put into liquid solution for use in the GOLD'n GRO liquid
fertilizers, and the silver- and gold-bearing solids are sent to
the refinery for recovery of the precious metals from the residual
non-nutrient impurities.
The Itromet FeLix and SuLix Processes produce two new fertilizer
raw materials as byproducts. These raw materials are expected to
improve GOLD'n GRO fertilizer quality and profitability, and to
stabilize ingredient costs by replacing fertilizer ingredients
which are presently purchased from outside suppliers.
The Stage I refinery expansion will make it possible for the
Company to diversify and expand its sourcing of silver-bearing raw
materials for processing by acquiring a new category of
silver-bearing solid materials, steel wool recovery cartridges
(sometimes called "ion exchange cartridges") generated by the
photographic industry. The Company estimates that millions of
ounces of silver are being recovered annually by the steel wool
recovery cartridges in the United States.
Iron contained in the steel wool recovery cartridges will be
recovered for use in the GOLD'n GRO liquid fertilizers. The
contained silver will be refined and sold. Currently the iron in
these cartridges is thrown away. Itronics Metallurgical believes
that Itromet FeLix and Itromet SuLix technologies may also be
adaptable to process certain types of silver/gold-bearing mineral
concentrates produced by mines.
Itronics, through its subsidiary Itronics Metallurgical, is the
inventor and operator of award winning recycling technology that
converts spent photographic liquids into pure silver and GOLD'n GRO
fertilizers. Commercialization of this technology has created a
"Green Consumer Option" for photo and x-ray processors and "Green
fertilizers" for horticulture and agriculture. The fertilizers
incorporate the "essence" of green because of how they are sourced
and because of their excellent performance in the field.
About Itronics
Headquartered in Reno, Nevada, Itronics Inc. is a "Creative
Clean 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 is developing environmentally compatible mining
technology, provides 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 clean recycling and fertilizer technologies.
The Company's environmentally friendly GOLD'n GRO liquid
fertilizers, which are extensively used in agriculture, 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
Itronics (CE) (USOTC:ITRO)
Historical Stock Chart
From May 2024 to Jun 2024
Itronics (CE) (USOTC:ITRO)
Historical Stock Chart
From Jun 2023 to Jun 2024