| Press
Release Archives: 02/24/2009
Itronics'
Updates 2009 Outlook for Environmentally Green Silver Sales and
Its Stage 1 Silver Refinery Expansion
Silver Sales Expected to Double in 2009; Every
Waste Stream From Photo Industry to Be Serviced
RENO, NV--(MARKET WIRE)--Feb 24, 2009 -- Itronics
Inc. (OTC BB:ITRO.OB - News) (Frankfurt:ITG.F - News) (Berlin:ITG.BE
- News) reported today that January silver sales by its wholly-owned
subsidiary Itronics Metallurgical, Inc. were double the 2008 full
first quarter as previously forecast. First quarter silver sales
are now expected to be more than two and one-half times the 2008
first quarter.
"Full year silver sales are expected
to double," said Dr. John Whitney, Itronics' President. "With
upcoming expansion, Itronics will be able to recycle each major
waste stream generated by the photo industry, significantly broadening
Itronics' service and revenue opportunities."
In the fourth quarter of 2008 Itronics Metallurgical
entered into an interim refining agreement that made it possible
to sell some silver-bearing intermediate products that had been
accumulated over prior years. Sale of the bulk of these materials
will be completed during the first quarter. The silver captured
by Itronics is recovered from spent photo liquids, by a highly acclaimed
environmentally "Green" and environmentally beneficial
process.
In early November 2008 Itronics announced
plans for expansion of its silver refining capacity in two stages.
The Company also disclosed that silver receipts in photographic
liquids were exceeding its capacity to refine the recovered silver
on an on-going basis, making the Stage 1 expansion a critical path
item for continuing the Company's growth. The interim refining agreement
the Company entered into in December solves the capacity issue for
2009 while the Stage 1 expansion is being funded and completed.
The Company is currently seeking the necessary
funds for the Stage 1 expansion, estimated at $500,000. Installation
is expected to take about 8 months after funding is in place.
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 in the melt cost per
ounce of silver produced. 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 1 refinery expansion will produce
two new fertilizer raw materials as byproducts. These raw materials
are expected to improve GOLD'n GRO fertilizer quality and profitability.
The core of the Stage 1 processing circuit
incorporates two leaching steps: (1) Itromet FeLix Process to remove
iron and zinc, and (2) Itromet SuLix Process to remove sulfur. A
third step (Itromet K-Thio Process) will be to establish pilot scale
manufacturing of potassium thiosulfate, a high value potassium sulfur
liquid fertilizer, and a new fertilizer for the Company.
The Itromet FeLix Process produces an iron
zinc base liquid for use as a raw material in manufacturing the
GOLD'n GRO fertilizers and will replace materials which are presently
purchased from outside suppliers. This base liquid, which is a new
product for the Company, is very clean and is expected to enhance
the quality of the GOLD'n GRO fertilizers.
The Itromet K-Thio Process is expected to
produce very clean potassium thiosulfate which will also be used
as a raw material to make the GOLD'n GRO fertilizers. The Company
presently purchases potassium thiosulfate to use as an ingredient
in the fertilizers. The Company's internal production is expected
to modestly reduce the need for external purchases of this material
in the intermediate term. Once this pilot process is operational,
it will set the stage for future expansion based on sourcing of
non-photographic raw materials.
Once Itromet FeLix and the Itromet SuLix Processes
are operational, the stage will be set for expansion to use another
category of photographic sourced silver-bearing raw materials. These
processes can be used to recover iron and sulfur from steel wool
recovery cartridges (sometimes called "ion exchange cartridges")
for economical use in our fertilizers. These cartridges are used
for on site silver recovery by some photo and X-ray processors.
There is a large supply of silver recovery cartridges because they
are the main method of photo-liquid de-silvering by operators that
use on site treatment of the liquids before discharging them to
the sewer. The Company estimates that more than 15 million ounces
of silver are being recovered in the U.S. by these cartridges.
The Company plans to begin marketing this
new processing capability as Phase II of its Stage 1 silver refinery
expansion. Adding this raw material source will significantly increase
the amount of silver for refining, and it will also significantly
increase the amount of iron and sulfur-bearing raw material available
to make iron zinc base liquid and potassium thiosulfate for manufacturing
GOLD'n GRO fertilizers.
Itronics is successfully implementing its
5-year plan to use internally developed environmentally green clean
technology to produce solid profitable growth. This focused approach
to the use of creative new clean technology has made the vertically
integrated "Beneficial Use Photochemical, Silver, and Water
Recycling" technology and the GOLD'n GRO brand of environmentally
friendly fertilizers a success. This breakthrough for the 140-year-old
Photographic Industry is revolutionary technology that creates a
"Green Consumer Option" for photo and x-ray processors
that continue to use silver halide photo technologies to make prints
and x-rays.
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
spent 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
Source: Itronics |
