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Release Archives: 08/31/2009
Itronics
Stage
1 Silver Refinery Expansion to Expand Silver Output by Diversifying
Silver Raw Material Sources
On
Monday August 31, 2009, 5:00 am EDT
RENO,
NV--(Marketwire - 08/31/09) - Itronics Inc. (Pinksheets:ITRO - News)
(Frankfurt:ITG - News) (Berlin:ITG - News) reported today that its
subsidiary, Itronics Metallurgical, Inc., has modified the installation
plan and reduced the estimated capital cost, significantly improving
the outlook for proceeding with its Stage 1 Silver Refinery expansion.
The expansion will make it possible for the Company to expand silver
sales by diversifying its silver-bearing raw material sources.
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. On March 17, 2009 Itronics announced a new refining process
that will significantly enhance the profitability of the planned
Stage 1 silver refinery expansion, discussed in a press release
issued on February 24, 2009.
Itronics
today is announcing that it has revised the Stage 1 installation
plan to utilize tanks and pumps that are already owned by the Company.
Using this approach reduces the estimated capital cost of the installation
from $500,000 to about $200,000. Additional benefits include that
only about 25 percent of the funding is required before installation
and preliminary operation can begin. The time required from start
of installation is reduced from 8 months to less than 6 months.
The Company is currently seeking the necessary funds as part of
a larger funding effort.
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 by replacing fertilizer
ingredients which are presently purchased from outside suppliers.
The
Stage 1 refinery expansion will also make it possible for the Company
to diversify its sourcing of silver-bearing raw materials by acquiring
a category of silver-bearing solid waste materials generated by
the photographic industry.
The
new source is steel wool recovery cartridges (called "ion exchange
cartridges") that are used for on site silver recovery by 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 sewer. The Company estimates that millions of ounces of
silver are being recovered by these cartridges and processed annually
by other refiners.
The
Company plans to begin marketing this processing service as Phase
II of its Stage 1 silver refinery expansion which is expected to
significantly increase the amount of silver for refining. Itronics
previously announced that in the first half of 2009 silver revenues
increased 144 percent, with a 243 percent increase in ounces sold.
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
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