Contact Information: Contact: Paul Knopick 888-795-6336
Itronics Begins Stage I Silver Refinery Expansion to Increase Silver Refining Capacity by 10 Times
Itronics Green Recycling Technology to Expand Revenues, Growth Opportunities
| Source: Itronics Inc.
RENO, NV--(Marketwire - October 15, 2009) - Itronics Inc. (PINKSHEETS : ITRO ) (FRANKFURT : ITG )
(BERLIN : ITG ) 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.)