Itronics Plans 100 Times Increase in Silver Refining Capacity
RENO, NV--(Marketwire - November 11, 2008) - Itronics Inc. (OTCBB: ITRO) (FRANKFURT: ITG)
(BERLIN: ITG) reported today that its wholly-owned subsidiary, Itronics
Metallurgical, Inc., is working to increase its silver refining capacity in
two stages, from 24,000 troy ounces per year to 2.4 million troy ounces
annually, a 100 times increase. Production at capacity with $10 per troy
ounce silver would increase silver sales from $240,000 per year to $24
million.
The silver captured by Itronics is recovered from used photo liquids, a
highly acclaimed environmentally "Green" and environmentally beneficial
process.
Stage 1 involves installing a new leaching circuit in 2009 which will
reduce the amount of solids delivered to the refining operation by 90
percent, while at the same time producing even cleaner liquid raw materials
for GOLD'n GRO fertilizer manufacturing. Stage 2 is to install a new
modular melting system in 2010 which will reduce melt cycle times, reduce
cost, and increase physical capacity by up to 10 times.
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 of the per melt cost of each ounce of silver produced. Stage 2,
installation of the new melting system, will further reduce the per melt
cost and substantially increase operational efficiencies. This two stage
capacity expansion will not only reduce direct operating costs, but will
also reduce "in process inventories" which will reduce working capital
requirements and improve the rate of inventory turnover, major financial
benefits to the Company and its shareholders.
"The increase in silver refining capacity will require related expansion
and improvement of materials handling capabilities at our facility," said
Dr. John Whitney, Itronics President. "We are estimating that each of the
two stages of expansion can be completed for $500,000, for a combined
capital investment of $1 million. Each installation is expected to take
about 8 months to complete. This relatively modest investment is made
possible because we already have two permitted locations within the
facility for these new operations."
"Existing limitations on silver recovery capacity and increases in receipts
of used silver-bearing photochemical liquids needed to support expanding
GOLD'n GRO liquid fertilizer and GOLD'n GRO Guardian Deer Repellent sales,
is driving this expansion," said Dr. Whitney. "The silver produced by
Itronics Metallurgical fits the definition of 'Green Silver' and will open
up new silver sales opportunities."
On-going clean, cost reducing, process technology developments are expected
to provide the basis for continuing long term growth. Itronics' expansion
is a result of years of research and development that has made its
innovative vertically integrated photochemical recycling technology an
award winning success. The technology completely converts the waste stream
to pure silver, and the high quality GOLD'n GRO brand of environmentally
compatible fertilizers. GOLD'n GRO Guardian Deer Repellent is a direct
extension of the GOLD'n GRO technology and is opening up a significant new
market segment for the Company.
About Itronics
Headquartered in Reno, Nevada, Itronics Inc. is a "Creative Environmental
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 also provides environmentally compatible mining
technology development, 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 compatible recycling and fertilizer
technologies.
The Company's environmentally friendly GOLD'n GRO liquid fertilizers 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 Information: Contact:
Paul Knopick
888-795-6336