| Press
Release Archives: 11/11/2008
Itronics
Plans 100 Times Increase in Silver Refining Capacity
RENO, NV--(MARKET WIRE)--Nov 11, 2008 -- Itronics
Inc. (OTC BB:ITRO.OB - News) (Frankfurt:ITG.F - News) (Berlin:ITG.BE
- News) 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:
Paul Knopick
888-795-6336
Source: Itronics Inc |
