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Press Release
Archives: 10/15/2009
Itronics
Begins
Stage I Silver Refinery Expansion to Increase Silver Refining Capacity
by 10 Times
Itronics
Green Recycling Technology to Expand Revenues, Growth Opportunities
RENO, NV--(Marketwire - 10/15/09) - Itronics
Inc. (Pinksheets:ITRO - News) (Frankfurt:ITG - News) (Berlin:ITG
- News) 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 |
