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Gold/Mining/Energy : Silver Recovery -- Itronics (ITRO)
ITRO 0.00010000.0%Oct 7 9:32 AM EST
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To: Claude Cormier who wrote (303)12/10/1997 10:23:00 AM
From: KipferlMeister  Read Replies (1) of 361
 
Hi Claude,

Yes, ITRO already processes the photo toxins from quite a few photolabs, hospitals, etc. in the Reno area. Silver production resulting from these refining services totaled around 16,000 ozs. In 1996 and should be up around 10% this year. As the fert business grows, they will be able to take in more material for processing and they've just hired a sales rep to secure new service accounts to supply that anticipated need. There's an additional category of silver bearing photo wastes that they will start processing by mid 1998 and, all told, they'll probably be looking at 50,000 ozs. for the year and possible exponential growth thereafter.

The stock was an absolute dog for quite a few years while the fertilizer was being developed and tested (0.05 to 0.10 price range). Jay's recommendation earlier this year, and the developing alliance with WFS (major fertilizer company) moved the stock to present levels. There was a five week stretch late this fall of huge volume days -- someone with deep pockets obviously took an interest. The volume has since dried, but the price has held up well. I talked with a few long term holders at the AGM and none of those who'd been trapped at lower levels for so long are looking to sell now that things are getting interesting.

-Michael
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