Asia Broadband (OTCMKTS: AABB) has come down significantly in recent months and investors are looking for AABB to once again rocket northbound as it has so many times before. AABB was one of the biggest runners of 2021 skyrocketing to highs of $0.659 per share in February, a run we reported on and gave the heads up on in January 2021 when AABB was surpassing a penny. Since than we have reported on Asia broadband as the Company launched a hybrid ERC-20 cryptocurrency, the AABB Gold Token (AABBG). backed by $30 million in gold bullion. In April the Company announced AABBG had surpassed $1 million in sales volume. In January 2022, Asia Broadband launched the AABB exchange and in March 2022 the Company launched the mobile app. We reported in our last article on AABB the Company plans to launch PayAABB in July of this year.
Currently Asia broadband is conducting a retrofit production upgrade on the Tequila, Jalisco property. 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 tons per day 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. The Company is currently waiting on a geological assessment report in the coming weeks.
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Asia Broadband Inc. (OTC: AABB) is a high-margin resource company focused on the production, supply, and sale of precious and base metals to primarily Asian markets. Through its subsidiary, Asia Metals Inc., Asia Broadband focuses on the acquisition of highly prospective gold projects in well-established mining camps around Mexico. The Company’s extensive industry contacts and experience facilitate an innovative distribution from the production and supply 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. The Company is led by CEO Chris Torres, a corporate executive who previously held several long-term leadership positions with Flex Mexico. He possesses a flair for technology and has extensive cryptocurrency investment knowledge. Asia Broadband currently has 3 mining properties in Mexico:
Acaponeta, Bonanza – 2 mine sites, existing infrastructure, 200 ton/day processing facility. Located 48 km southeast from the city of Acaponeta and 3 kms from the town of El Carrizo.
Buen Pais, Zodiac – Secured 100% interest in the Zodiac Gold Mine Project. 200-hectare concession. 150 ton/day processing facility. Located 15 kms southeast from the municipality of Tonila and 30 kms from the city of Colima in Tuxpan, Jalisco.
Tequila, Jalisco, Mexico – Secured an 80% interest in the development and production of the Tequila Gold Mine Project. Located 70 kilometers north of Guadalajara near the town San Martin de las Canas. Previous exploration and drilling revealed multiple gold and silver mineralization veins with high-grade potential.
— Al I Dare (@AlidareAABB) June 5, 2022
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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 increase development capital utilization by focusing operations on regions of Mexico. In these regions, AABB has a comparative advantage of development resources and expertise readily available for the rapid expansion and doubling of the Company’s previous gold production success.
On May 25 Asia Broadband reported the Company has begun conducting procurement assessments of mining processing and facilities equipment in meetings and demonstrations with equipment supply agents, distributors and manufacturers. The Company’s management, geological and technical consultants are examining and evaluating production and facilities equipment to assess the capabilities and capacities relevant to the Company’s production expansion requirements.
AABB recently began a facilities retrofit production upgrade on its mining property in the Tequila region of Jalisco, Mexico, that is expected to double the current processing capacity to 100 tons per day (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.
CEO Chris Torres stated: “This is a valuable process for the Company. The extensive efforts by our team to evaluate and source the optimal production equipment for our current and future requirements are building the foundation to efficiently replicate production expansions on our other properties.”
— Bob Earl (@speedo8384) June 6, 2022
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AABB skyrocketed in early 2021 peeking out at $0.659 per share. More recently AABB ran to the low $0.30s range, a run we reported on many times. Currently trading at a $187 million market valuation AABB OS is 2,493,944,690 with AS set at 2,500,000,000 the Company needs to increase AS before they can issue any more shares. The Company is looking to become an SEC filer which would give Asia Broadband and its balance sheet a lot more credibility. According to the Company’s latest OTC Disclosure form they have $67 million in the treasury, $30 million in gold bullion, $0 debt and $109 million in assets. Microcapdaily gave a heads up on AABB when the stock was well below a penny in August 2020, and another heads up as it was surpassing the $0.01 on its way to $0.659 in February 2021. We will be updating on AABB when more details emerge so make sure you are subscribed to Microcapdaily.
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Disclosure: we hold no position in AABB either long or short and we have not been compensated for this article.