| Press
Release Archives: 07/14/2010
Itronics
Stage I Silver Refinery Expansion to Increase Refining Capacity
by 10 Times on Track for August Start Up
Itronics Green Recycling Technology Is Expanding
Growth Opportunities
RENO, NV--(Marketwire - 07/14/10) - Itronics
Inc. (Pinksheets:ITROD - News) reported today that its wholly owned
subsidiary, Itronics Metallurgical, Inc., has scheduled its Stage
I silver refinery expansion for start up in August 2010. The expansion
was originally announced in October 2009 and plans were updated
in January of this year.
"The
price of silver has risen from under five dollars per ounce in 2000
to prices that have topped more than $20 per ounce in recent time
periods. We see continued strengthening in the price of silver.
To be able to recover more of this valuable commodity more efficiently
is very important for our future," said Dr. John Whitney,
Itronics President. Part of the Stage I leaching circuit is already
operational utilizing the Company's new, revolutionary FeLix and
SuLix leaching processes. "We are pleased by the progress
being made to advance this expansion project and once operational,
this revolutionary technology will increase profitability and open
up new pathways to growth," Dr. Whitney said.
In a press release issued in November 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 the 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. At current silver prices of $17.50
per ounce, annual silver bullion sales capacity would increase from
$420,000 to $4 million. At a sales level of 2.4 million troy ounces
of silver per year, sales capacity would rise to $42 million per
year.
"The
increase in per melt capacity will be more than sufficient to accommodate
intermediate term GOLD'n GRO fertilizer sales growth, and will also
provide the capacity for acquisition of new silver-bearing raw materials
to further expand growth. Once the Stage I leach circuit is operational,
silver bullion output is expected to double due to an immediate
increase in the total amount and the percentage of silver recovered
in each melt," Dr. Whitney explained.
The Stage 1 refinery expansion will also produce
two new fertilizer raw materials as byproducts, which are expected
to improve GOLD'n GRO fertilizer quality and profitability by replacing
fertilizer ingredients which are presently purchased from outside
suppliers.
Itronics Metallurgical has identified several
other potential applications where the FeLix and SuLix processes
could reduce both processing costs and waste by profitably converting
material presently being wasted into commercial products. Two of
the most important silver-bearing materials are:
- Processing steel wool (ion exchange) cartridges which are widely
used in the United States to perform on site silver removal from
photographic liquids at user sites where silver-bearing photoliquids
hauling is not required. Both iron and silver would be recovered.
This is a large source of iron and photo silver with millions of
ounces of silver being recovered annually in these cartridges in
the United States.
-
Processing the cores of non-mercury bearing silver batteries to
recover potassium, zinc, and silver. Zinc silver batteries are primarily
used in military and space applications, but some new technology
zinc silver batteries are being developed for use in portable computers.
If these new technologies are adopted, there will be a large increase
in zinc silver battery usage worldwide and an associated need for
zinc silver battery recycling services.
Itronics
Metallurgical has revised its process flow sheet to utilize separate
leach reactors that will be dedicated to processing each new category
of silver-bearing materials. Using this approach makes it possible
to establish new raw material sources and partially diversify silver
output away from its current reliance on silver-bearing photographic
liquids as source materials. This also establishes a new operating
platform for generating growth in silver output and fertilizer raw
materials.
This refining technology development completes
another step in Itronics' implementation of its five year plan to
use internally developed environmentally green clean technology
to produce solid profitable growth. This focused approach to the
development and 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
"award winning," environmentally friendly fertilizers
a success. Itronics' revolutionary technologies create 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 is
a Cleantech Specialty Fertilizer and Silver Company that produces
the Award Winning GOLD'n GRO liquid fertilizers and pure silver
bullion. 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 |
