Asia Broadband, Inc (OTCMKTS: AABB) is on the move northbound in recent trading after a brief dip to new 52-week lows of $0.0612. Since than the stock has formed a major reversal and is currently under heavy accumulation. AABB had a wild 2021 skyrocketing in February to $0.659 per share before coming back down and forming a base at a dime. In December the stock ran again to highs of $0.33 before coming back down to current levels giving speculators another chance to accumulate AABB at reasonable prices. Unlike almost all stocks on the OTC AABB is debt free and has $70 million in cash sitting in the treasury. The stock is also a staple among volume leaders on the exchange and from current levels AABB has a significant gap to fill.
Since the sale of its mining operations in the Guerrero Gold Belt (GGB), Mexico, for $82 million, Asia broadband moved into the booming crypto space with the launch of its new ERC-20 token; the AABB Gold token. The Company also launched the AABB Wallet followed by the AABB Crypto Exchange. Asia broadband has also expanded into the NFT space and is currently in discussions to create multiple NFT marketplaces for unique digital content categories. Asia broadband is also developing a new product called PayAABB. It is a payment gateway for merchants to accept crypto payments and is expected to launch in June, 2022. Besides the $68.4 million in the treasury Asia broadbands most recently filing shows $30 million in gold bullion backing its ERC-20 token; the AABB Gold token and a total of $107 million in assets.
Asia Broadband, Inc (OTCMKTS: AABB) 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 Mexico to client sales networks in Asia. This vertical integration approach to sales transactions is the unique strength of AABB that differentiates the Company and creates distinctive value for shareholders. Additionally, the Company has added a digital assets business segment and released its AABBG freshly minted mine-to-token gold-backed cryptocurrency within its AABB Wallet and a proprietary digital exchange AABBExchange. 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.
Asia broadband completed the sale of its mining operations in the Guerrero Gold Belt (GGB), Mexico, for $82 million, and the Company has used these resources to fund the launch of its new ERC-20 token. Currently AABB has $70,945,697 in the treasury which sets the Company above 99.9% of the exchange. Additionally, the Company has recently released its AABBG freshly minted mine-to-token gold-backed cryptocurrency backed 100% by $30 million in physical gold held by the Company in several high security, private locations in Mexico. AABB vision for its token it 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.
The Company’s gold-backed AABBG token and the Exchange, embraces a pioneering philosophy with its truly unique Mine-to-Token vertical integration operational approach that strives toward cryptocurrency only exchanges and complete independence from FIAT currency. The numerous and complex mechanisms of the Exchange are evolving rapidly within a live environment. In the coming weeks, the Company expects to have trading algorithms optimized to facilitate 200 plus cryptocurrency Exchange trading pairs on the BCGateway platform and have the enhanced mobile Exchange apps available. Additionally, AABB is planning to launch an international marketing campaign for the Exchange and AABBG token expected to begin next month.
— Justice LaRue (@imjustjrue) May 16, 2022
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Asia broadband has set the completion timeline for its facilities retrofit production upgrade on its mining property in the Tequila region of Mexico. The Company expects the upgrade program to be complete with an additional 50 tons per day (tpd) production capacity available within 6 months. At that time, the mill capacity will be 100 tpd and double the current processing limit of 50 tpd. Additionally, the Company is planning a large-scale expansion of its production and processing facilities to begin installation later this year. Utilizing the advances in mining equipment automation and efficiency, the larger scale facilities will have significantly increased throughput and metals extraction. The added production volume at a lower cost per ton is expected to have a substantial impact on the Company’s gross profit margin going forward.
Further to the Tequila property, the Company is expecting to receive a geological assessment report in the coming weeks prepared by a qualified professional person. The report will allow the Company to maximize its exploration, development and resource expansion program as well as facilitate production efficiencies and planned processing equipment upgrades and additions. AABB continues to implement its mining property acquisition strategy to optimize development capital utilization by focusing operations in regions of Mexico where AABB has a comparative advantage of development resources and expertise readily available for rapid expansion and duplication of the Company’s previous gold production success.
Last week Asia broadband signed a Letter of Intent (LOI) to develop Non-Fungible Token (“NFT”) platforms and galleries and launch operations in the new digital business segment. The Company expects to sign a definitive agreement in the coming weeks and expedite the implementation of its NFT business plan. AABB recently launched an initiative to enter the NFT market to advance the rapid expansion of the Company’s digital asset base. Subsequently, the Company has been in discussions to create multiple NFT marketplaces for unique digital content categories including music, sports and video media. Additionally, AABB possesses a comparative advantage to efficiently process NFT transactions within the marketplaces. Using the Company’s existing blockchain-based digital technology platforms, the AABBG token, AABB Wallet and AABB Exchange can be expeditiously integrated into newly created NFT marketplace networks. Consequently, the Company has been diligently focused on the developing opportunities within the rapidly expanding NFT market.
The NFT market in 2021 realized explosive growth and is estimated to have reached over $40 billion. Furthermore, the growth trend has continued in 2022, as NFTs are expected to become increasingly familiar and accepted by the investment community for their proven authentic and unique properties.
On May 17 Asia broadband reported it signed a definitive purchase agreement to acquire a 100% interest in the La Paz Gold Mine Project in Mexico. The Company came to terms with Felipe Chávez Serrano and group for the 184 hectare La Paz concession, # 236301, located in the municipality of Etzatlan in Jalisco, Mexico. The total purchase price of the property was $700,000 and the Company is negotiating to acquire additional mining concessions in the area. The La Paz gold project is another mining asset addition in the Company’s strategic expansion initiative to acquire gold production and increase the AABB’s physical gold holdings.
Signs a definitive purchase agreement to acquire 100% interest in La Paz Gold Mine Project in 🇲🇽 184 hectare La Paz concession, # 236301, Total purchase price of the property was $700,000 & Company is negotiating to acquire additional mining concessions in the area. pic.twitter.com/EiunbBwy5K
— 💰🧱Antonio_The_Builder🧱💰 (@tha_builder) May 17, 2022
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AABB is on the move northbound after a brief dip to the $0.0612 mark last week. AABB was one of the biggest runners of 2021 skyrocketing to highs of $0.659 per share in February before coming back down and forming a base at a dime. In December the stock ran again to highs of $0.33 before the latest dip. AABB is among the most exciting stocks in small caps with an enormous investors following including some of the most powerful players in small caps who are looking for a return to previous highs. Asia broadband’s mining property acquisition strategy is to optimize development capital utilization by focusing operations in regions of Mexico where AABB has a comparative advantage of development resources and expertise. In 2021, the Company acquired two high potential gold property interests in Mexico, the Bonanza Gold Mine Project and the Tequila Gold Mine Joint Venture. Both properties are expected to have geological reports available in late February and gold production from the Tequila property is expected in March. We have previously reported on the Company’s sale of its mining operations in the Guerrero Gold Belt (GGB), Mexico, that netted them $82 million, which has funded the current move into crypto. AABB currently has $68 million USD in the treasury. AABB launched its cryptocurrency exchange within the AABB Wallet on December 28. In collaboration with the Company’s digital assets developer, the continued roll out of the Exchange components in the coming weeks will have 200 plus cryptocurrency Exchange trading pairs available on the BCGateway platform. The Exchange project has evolved and grown immensely in recent months to vastly improve the finished product. Last year the Company launched its ERC-20 token and the AABB Wallet during 2021 intruding its AABBG token’s initial release to the market that is backed by $30 million in physical gold the Company currently holds. AABB’s primary goal for the AABBG token is to become a worldwide standard of exchange that is secured and trusted with gold backing, by progressively expanding token circulation to the primary sales markets of North America and Europe and expand globally to other predominant and high growth market areas. Recently Asia broadband launched an initiative to enter the Non-Fungible Token (“NFT) market to advance the rapid expansion of the Company’s digital asset base. AABB has been in discussions to create multiple NFT marketplaces for unique digital content categories. Additionally, the Company has a comparative advantage to efficiently process NFT transactions within the marketplaces. The NFT market in 2021 realized explosive growth and is estimated to have reached over $40 billion. 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.
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Disclosure: we hold no position in AABB either long or short and we have not been compensated for this article.