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AXcess News: Silver Refining Goes Green(July 15, 2010)
HOUSTON, TX -- (Marketwire) -- 07/15/10 -- Itronics, Inc. (PINKSHEETS: ITROD) announced that its 1st phase silver refinery expansion was slated for start up in August which would increase silver production ten-fold, but the process itself also cuts refinery costs 90%, making the green silver-maker one of the most cost effective refining operations in North America.
The Company first announced plans to expand its silver refinery in August 2009, though building out the facility to handle the increased capacity took nearly one year. Now Itronics is finally ready and according to founder Dr. John Whitney, the process could lift silver sales alone to over $43 million annually once the second phase of plant expansion is in place.
The proprietary process involves a stage one leaching circuit using Intronics' new FeLix and SuLix leaching processes that cut per melt costs 90%. Byproducts produced through FeLix and SuLix will also generate raw materials to be used in manufacturing Itronics' GOLD'n GRO line of environmentally friendly liquid fertilizers that in turn will cut production costs while adding new lines of fertilizer for the Company's already established marketplace.
Itronics operates the only EPA-approved plant in North America for processing spent photochemicals which are turned into GOLD'n GRO fertilizers. The heavy metals are recovered and the silver refined for producing the only numismatic quality 99.99% pure five-ounce silver bar manufactured in the U.S. -- a true 'green silver.'
The company has also identified a new source of recyclable silver material, ion exchange cartridges used on-site by photo processors to remove silver from liquids. The widely used steel wool cartridges would be shipped to Itronics' plant in Reno, Nevada, for processing. Silver-bearing batteries are also another recyclable resource Itronics is looking to. A military base in Nevada had previously approached Itronics to process silver-bearing batteries. Apple Computer is also weighing in on the possibility of moving to a silver-bearing battery for computers that could further expand Itronics' green silver operations.
Dr. Whitney told AXcess News that between Itronics' existing photochemical marketplace and the silver-bearing ion cartridges, "We have more than an ample supply of raw materials that can take us well into the second phase of our refinery expansion."
"Once operational, this revolutionary technology will increase profitability and open up new pathways to growth," said Whitney.
Itronics is forecasting green silver production to double once the phase one processing equipment is put into production next month. By phase two, production is expected to rise to 2.4 million ounces per year, or $43 million.
Itronics recently completed a 1 for 1000 share reverse in preparation for financing.
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