LAS VEGAS, Aug. 22, 2023 (GLOBE NEWSWIRE) — Asia Broadband Inc. (OTC: AABB) (“AABB†or the “Companyâ€) is pleased to announce that the Company has received a second major delivery of processing equipment for its new facility site in Etzatlan, Mexico. Additionally, installation preparations have been ongoing subsequent to the Company receiving its initial deliveries of processing plant machinery and mineral analysis laboratory equipment in recent months.
To view AABB processing equipment videos & pictures go to:
https://twitter.com/AsiaBroadband/status/1686842848363343872
https://twitter.com/AsiaBroadband/status/1686850303927386114
https://twitter.com/AsiaBroadband/status/1686851971364622336
The progress towards completion of the new plant facility follows the Companyâ€
To view AABB videos of the manufacturer visits in China, go to:
https://www.youtube.com/watch?v=mVdo7hgjtgE
AABBâ€
In December 2022, AABB completed the land purchase for the site of the new processing facility to be constructed with respect to the terms of the historic and long-term processing and production agreement signed previously for a large-scale gold and silver ore stockpile located in Las Jimenez, Etzatlan, Jalisco, Mexico. The agreement allows the Company exclusivity to purchase the 4 million ton ore stockpile at an economically feasible price point. A recent evaluation report has estimated the stockpile to represent over $ 800 million in total gold and silver value. The stockpile processing project is the largest high-yield asset addition for the Company to date in its strategic expansion initiative to acquire gold production and increase AABBâ€
The 4.94 hectare processing plant land parcel, that includes a water concession, is located approximately 5.8 miles from the ore stockpile in Etzatlan, Mexico, and 48 miles from the AABB Buenavista mining warehouse. The new facility build-out is budgeted for a $3 million cost and is initially planned to have a 200 ton per day (tpd) processing capacity. At this first level of processing, the mill is estimated to generate over $11 million in revenue annually. The Company will also be accelerating a mill expansion installation to increase the processing capacity 5 fold to 1,000 tpd, once the initial processing level of the mill is consistently at capacity.
“We have taken substantial steps forward to create our new processing plant in a very short period of time, since our trip to China. Our whole group is highly motivated and excited to have the new production operations going this year,†expressed Chris Torres, AABB President and CEO.
About Asia Broadband
Asia Broadband Inc. (OTC: AABB) is a resource company focused on the production of precious metals and the accumulation of physical gold holdings. The Company utilizes its specific geographic expertise, experience and extensive industry contacts to facilitate the expansion of precious metals property holdings and production in Mexico. The Company’s industry and business integration in Mexico and its asset diversification are unique strengths of AABB that differentiate it from other companies and creates distinctive value for shareholders. Additionally, the Company has a digital assets business segment with its AABBG mine-to-token gold-backed cryptocurrency within its AABB Wallet, the unique Golden Baboons Mining Club non-fungible token collection, a proprietary digital exchange AABBExchange and a cryptocurrency payment gateway solution PayAABB.com. AABB expects its token to become a world-wide standard of exchange that is stable, secured and trusted with gold backing, while having the added benefit of demand based price appreciation. These are unique and outstanding qualities relative to other cryptocurrencies and digital asset developers.
Contact the Company at: | ||
General Email: Exchange Support: Token Support: |
ir@asiabroadbandinc.com https://aabbexchange.com/faq/ https://aabbgoldtoken.com/faq/aabb-wallet/ www.AABBGoldToken.com/support/ |
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Company Websites: | www.asiabroadbandinc.com www.AABBExchange.com www.AABBGoldToken.com www.PayAABB.com www.goldenbaboons.com |
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Phone: | 702-866-9054 | |
Forward-Looking Statements are contained in this press release within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the Asia Broadband Inc.â€
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