AXcess News: Silver Demand May Benefit Green Silver Refiner Itronics
August 27 2010 - 12:28PM
Marketwired
Silver prices have been climbing as a result of growing demand in
the marketplace and for Reno-based green silver refiner, Itronics,
Inc. (PINKSHEETS: ITRO), the launch of its phase one expansion
couldn't be more timely.
Itronics announced Wednesday that its phase one silver refinery
expansion was now in place and as a result, expected to both
increase production capacity ten-fold while lowering per-smelt
costs as much as 90%. The numbers alone would make Itronics' silver
refinery the most cost-effective in the nation, yet as its silver
is primarily produced through recovery of heavy metals from its
photochemical processing plant which manufactures a host of
environmentally friendly liquid fertilizers sold under the
company's GOLD'n GRO brand, new sources of raw material have been
identified to expand production.
While green silver, which is manufactured through a recycling
process typically involving scrap silver, is growing in demand, few
refineries exist that specialize in it. Yet there is a growing
number of purists who would prefer to purchase silver manufactured
through recovery processes involving an extraction of silver and
other metals from waste materials, which would be considered a true
"green silver" product.
Itronics saw silver prices averaging more than $17.50 per ounce
in the last period and with prices now edging higher it could see
averages increase by 3 to 6% or more in the fourth quarter.
"We see continued strengthening in the price of silver," said
Itronics founder, Dr. John Whitney. "To be able to recover more of
this valuable commodity more efficiently is very important for our
future."
Yet as the company has just now placed its phase one expansion
into operation, most likely itronics will not reflect a noticeable
increase until the second half of next year. Capital constraints
have kept the company from moving forward at a faster pace, though
a recent reverse split of Itronics' shares were completed in
preparation for financing. But despite capital, Itronics has
managed to grow throughout the recession, albeit at a slower pace
than it would like to.
In a rare forecast of Itronics' silver sales, the company
outlined in a mid-July announcement
(http://itronics.com/071410.shtml) that silver sales would increase
to $4 million through the phase one expansion and when phase two of
the silver refinery expansion was incorporated, sales would climb
to over $40 million.
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