web analytics
5.7 C
Munich
Monday, October 18, 2021

Asia Broadband Inc. (OTCMKTS: AABB) Gains on Guerrero JV & Pena Colorada Constuction

Asia Broadband Inc. (OTCMKTS: AABB) is making a strong move up the charts in recent days as the Company reports it has begun the construction of exploration and development facilities and infrastructure roads on its high potential gold and base metal property in Colima, Mexico. The Company has also finalized negotiations regarding the purchase proposal for the mineral property and mining operations facilities in the Guerrero Gold Belt, Mexico, with Joint Venture Partner, Qiangda Investments & Economics Co. Ltd.

The principal terms of the purchase have been accepted and agreed to by both parties, while the secondary terms and transition processes are being specified and scheduled. The full details of the purchase agreement will be released next week.

Asia Broadband Inc. (OTCMKTS: AABB) through its wholly owned subsidiary Asia Metals Inc., is a resource company focused on the production, supply and sale of precious and base metals, primarily to Asian markets. The Company utilizes its specific geographic expertise, experience and extensive industry contacts to facilitate its innovative distribution process from the production and supply of precious and base metals in Guerrero, Mexico, to our client sales networks in Asia. This vertical integration approach to sales transactions is the unique strength of Asia Broadband and differentiates the Company to its shareholders.

The stock has been on the move after the Company reported last week it began the construction of exploration and development facilities and infrastructure roads on its high potential gold and base metal property in Colima, Mexico. The goal of the development program is to accelerate the process of moving toward production. Previous geophysics and groundwork have revealed strong indications of significant mineralization structures in multiple sectors of the property. Located in a major gold-iron-copper production area, the property is approximately 25 kms east of the Pena Colorada mine in Minatitlan, Mexico. Advantageously located with direct access to main Highway #3, the property also has a natural water supply. The Colima property is situated in a region where AABB has a comparative advantage of development resources and expertise readily available to rapidly develop the project.

AABB recently added the Colima, Mexico, property to its portfolio for its high development and gold production potential. The focus of this strategic acquisition is to duplicate the successful development model of the Company’s existing high-density, shallow gold mine property in Guerrero, Mexico, that has exceptional geology and known historical gold vein structures.

To Find out the inside Scoop on AABB Subscribe to Microcapdaily.com Right Now by entering your Email in the box below

AABB

On January 7 AABB announced the Company has finalized negotiations regarding the purchase proposal for the mineral property and mining operations facilities in the Guerrero Gold Belt, Mexico, with Joint Venture Partner, Qiangda Investments & Economics Co. Ltd. The principal terms of the purchase have been accepted and agreed to by both parties, while the secondary terms and transition processes are being specified and scheduled. The full details of the purchase agreement will be released next week.

“Our management team is absolutely thrilled and grateful to reach a milestone achievement with the sale of our GGB property and operations. We are also very excited for the new opportunity to move forward rapidly from a much higher level of operations,” declared AABB CEO James Gilbert.

For More on AABB Subscribe Right Now

AABB is making a strong move up the charts in recent days as the Company reports it has begun the construction of exploration and development facilities and infrastructure roads on its high potential gold and base metal property in Colima, Mexico. The Company has also finalized negotiations regarding the purchase proposal for the mineral property and mining operations facilities in the Guerrero Gold Belt, Mexico, with Joint Venture Partner, Qiangda Investments & Economics Co. Ltd. Microcapdaily reported on AABB earlier this year when the stock was in the sub pennies reporting at the time: “AABB has seen a fast move up after the Company filed this attorney’s letter which stated: “(Company) is actively engaged in small scale mining in Mexican and mines precious and base minerals which are sold mostly to Asian markets.  As of December 31, 2019, the Company’s financial statements indicated that it had current assets of $15,154,716 with total assets of $24,708, 201 and total liabilities of $1,454,470.  The Issuer reported net income of more than $5 million dollars for the year ended December 31, 2019 and reported gross revenues of $6.7 million.” The attorney’s letter states twice the Company is not a shell.” We will be updating on AABB when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with AABB.

Sign Up now for our 100% FREE Penny Stock Newsletter

Disclosure: we hold no position in AABB either long or short and we have not been compensated for this article.

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article

Sign up now for our 100% FREE Penny Stock Newsletter

Privacy Policy. we will never share your email with anyone.