RENO, Nev., Nov. 30, 2017 (GLOBE NEWSWIRE) -- Itronics Inc. (OTC:ITRO), a diversified zinc fertilizer and silver producing green technology development Company, today announced that it has arranged financing for and purchased a commercial scale e-scrap grinder for grinding shredded circuit boards (e-scrap) to feed to its refining furnaces.
The grinder, which is being custom built is expected to be delivered to the Company in January. The grinder will have approximately the same throughput capacity as the Company’s shredder and is expected to significantly increase the capacity for producing ground circuit board scrap for refining while significantly reducing the cost.
Itronics is currently implementing plans to convert one of the rooms in its factory that is presently being used for storage to a dedicated circuit board shredding and grinding room (e-scrap prep room). The room will have an air cleaning and ventilation system and a dedicated electrical system to support the machine and air cleaning operations.
The Company plans to complete the needed improvements, move the shredder from its current location and install it in the new location, install the grinder and start up the machines in the first quarter 2018. The shredding and grinding capacity of this new operation is expected to be sufficient to support a 50 to 100 times staged expansion of furnace refining capacity over the next 3 to 4 years.
Itronics is working on improving “per melt” production of the furnaces. So far in the fourth quarter it has increased per melt production by 35 percent. The Company expects to expand per melt production by an additional 40 percent in the second quarter 2018 after the e-scrap grinder is installed and operational.
In 2017 the prices of copper, zinc, silver, gold, and palladium have increased sharply, in some cases, to multi-year highs. Many forecasters are predicting that gold and silver prices will significantly increase from current levels. Copper and tin are at multi-year highs. The Company is now positioned to benefit significantly as silver bullion production is expanded and these metal prices continue to increase.
About Itronics
Headquartered in Reno, Nevada, Itronics Inc. is a “Creative Green Technology” Company which produces GOLD’n GRO specialty liquid fertilizers, silver bullion, and silver-bearing glass. The Company’s goal is to achieve profitable green technology driven organic growth in specialty GOLD’n GRO fertilizers, silver, zinc, and minerals. The Company’s technologies maximize the recovery and uses of metals and minerals and by doing this it maximizes sustainability.
Through its subsidiary, Itronics Metallurgical, Inc., Itronics is the only company with a fully permitted “Beneficial Use Photochemical, Silver, and Water Recycling” plant in the United States that converts 100 percent of the spent photoliquids into GOLD’n GRO liquid fertilizers, silver bullion, and silver bearing glass. This is internationally recognized award winning “Zero Waste” Technology. The Company is developing a portfolio of environmentally beneficial “Zero Waste” processing and mining technologies. Itronics has received numerous domestic and international awards that recognize its ability to successfully use chemical science and engineering to create and implement new environmentally green recycling and fertilizer technologies.
The Company’s environmentally friendly award winning GOLD’n GRO liquid fertilizers, which are extensively used in agriculture can be used for lawns and houseplants, and are available at the Company's "e-store" on Amazon.Com at: https://www.amazon.com/s/ref=nb_sb_noss_2?url=search-alias%3Daps&field-keywords=Gold%27n+Gro Due to expanded retail customer interest, GOLD’n GRO fertilizer may now be purchased in Reno, Nevada at “Buy Nevada First Gift Shop”, 4001 S. Virginia St.
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("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.)