- Active and Expanding Mining Operations in Mexico for Base & Precious Metals.
- Established Marketing Program to the Asian Markets for High Growth Returns.
- Robust Gross Profit of $4.6 Million in The First Quarter of 2023.
- Token Change to the Algorand Blockchain for Enhanced Efficiency and User Experience.
- 100% Owned Registered Concession at Bonanza Gold Mine Project in Acaponeta, Nayarit, Mexico.
- Mineral Resource Estimates of Gold and Silver Values in Initial Technical Report Exceed $10 Million.
- Received Initial Deliveries of Processing Equipment and Laboratory Mineral Analysis Equipment for New Facility in Etzatlan, Mexico.
- Expediting Construction of New Processing Facility with 3rd Quarter 2023 Completion Timeline to Achieve Full Operations.
Asia Broadband Inc. (OTC: AABB) is a resource company focused on the production, supply and sale of precious and base metals, primarily to Asian markets. AABB 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, AABB has added a digital assets business segment with its AABBG freshly minted mine-to-token gold-backed cryptocurrency within its AABB Wallet, a proprietary digital exchange AABBExchange, a proprietary cryptocurrency payment gateway solution PayAABB.com and its Golden Baboons Mining Club NFT collection. 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.
AABBG Token Change to the Algorand Blockchain for Enhanced Efficiency and User Experience, Gross Profit of $4.6 million in First Quarter of 2023
On July 11th AABB announced that its AABBG Token, a leading blockchain project, is migrating from the Ethereum blockchain to the Algorand blockchain. The migration process is nearing completion and is expected to be fully implemented in the coming weeks to provide token holders with improved transaction efficiency, lower costs, and increased transparency.
The decision to migrate to the Algorand blockchain stems from the AABB Token's commitment to enhancing the overall user experience and addressing the evolving needs of its community. By leveraging the advanced features and benefits of Algorand's blockchain infrastructure, AABBG Token aims to offer its users a seamless and efficient ecosystem.
The new Algorand platform is a key component of the digital assets improvements initiative to dramatically lower transaction costs and increase processing speeds, expand liquidity and increase user satisfaction. The primary goal of AABB with the platform change is to synergize the growth of the AABBG token, AABB Exchange and PayAABB by creating added efficiencies to facilitate widespread use, increase transaction volumes and expand digital business segment profits.
AABB recorded a robust gross profit of $4.6 million in the first quarter of 2023. Leading the way was record high quarter for the Company’s digital assets segment with $3.9 million in sales of the AABBG token combined with the initial sales of the Golden Baboons Mining Club NFT (Non-Fungible Token) collection launch in late February.
Additionally, the AABB mining segment continued its gold production from 2022 into Q1 of this year and is expected to expand dramatically with the installation of a new processing facility and the commencement of the ore stockpile production in the second half of 2023.
Key Highlights of the Algorand Migration:
1. Enhanced Transaction Efficiency: The migration to the Algorand blockchain will significantly reduce transaction costs and increase transaction speeds. Users can expect faster, more reliable transactions, ensuring a seamless experience within the AABB Token ecosystem.
2. Lower Network Transaction Costs: AABBG Token will benefit from Algorand's innovative design, enabling significantly lower network transaction costs compared to the current Ethereum-based infrastructure. The ALGO fee for any transaction is always fixed at a nominal amount, regardless of the transaction size.
3. Increased Transparency: Algorand's blockchain technology provides enhanced transparency and security, ensuring the integrity of AABBG Token transactions. Users will have access to a decentralized and immutable ledger, offering a higher level of trust and accountability.
The migration process will be executed meticulously to minimize any disruption to AABBG Token holders. Pre-funding of Algorand accounts will be provided to facilitate the conversion process, ensuring a smooth transition. The existing AABBG Token on the Ethereum blockchain will be converted to the new Algorand-based AABBG Token at a one-to-one ratio, maintaining the value and integrity of users' holdings.
AABB Advances Resource Report Development Program at Bonanza Gold Mine Project in Mexico
On June 28th AABB announced it has progressed significantly in recent months with the exploration and development activities at its 100% owned registered concession at the Bonanza Gold Mine Project located in Acaponeta, Nayarit, Mexico. The ongoing AABB program has revealed outstanding indications that have elevated the potential of the Bonanza property, as the development activities have been directed by the recommendations outlined in the certified geological technical report prepared by a qualified professional person (QP) from Micon International Limited.
The preliminary mineral resource estimates of gold and silver values contained in the initial technical report exceed $10 million at the current spot precious metal prices, prior to the ongoing work programs. The AABB geological and mining operations team has been utilizing the report to maximize its exploration, development and resource expansion program, as well as facilitate production, efficiencies and processing equipment installations. The Bonanza gold project is another prospective high yield mining asset in the Company’s strategic initiative to increase gold production and AABB physical gold holdings.
Located in the prolific mining region of Acaponeta in Nayarit, Mexico, the AABB Bonanza property has shown high-grade gold assay results from samples and drilling activities with the most significant gold values of more than 10 grams per ton (g/t).
To download the complete AABB Bonanza Project Geological Technical Report, go to: https://asiabroadbandinc.com/acaponeta-bonanza-report/.
Initial Delivery of New Plant Equipment for Large-Scale Gold & Silver Ore Stockpile Processing Following Recent Manufacturers Visits in China
On June 21st AABB announced it received the initial deliveries of processing equipment and the majority of the laboratory mineral analysis equipment for its new facility site in Etzatlan, Mexico. The equipment deliveries follow recently completed meetings and facility tours with mining processing manufacturers in China. During the visits with Liming Heavy Industry Science & Technology Co. Ltd. and Mecru Heavy Industry Technology Co. Ltd. in Zhengzhou, Henan, China, AABB verified and secured the shipments and deliveries of additional processing equipment for the new plant in Mexico. Furthermore, AABB management embraced and utilized the opportunity to establish and expand its relationships with mining industry and other business contacts throughout the trip.
To view AABB videos of the manufacturer visits in China, go to:
https://www.youtube.com/watch?v=mVdo7hgjtgE
AABB management and technical consultants are expediting the construction of the new processing facility and have set a 3rd quarter 2023 completion timeline to achieve full operations. The new plant will utilize advanced mining equipment automation and efficiencies to maximize processing throughput and metals extraction and minimize the production costs. Additionally, the new facility will be built with expanded processing capability that will be implemented after the initial production levels have been established. The processing facility will also have a mineral assay and strategic analysis laboratory on site that will reduce costs and supply rapid mineral results reports. The lab will allow AABB to select the highest grade ore for processing to efficiently maximize plant revenues.
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 AABB 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 AABB to date in its strategic expansion initiative to acquire gold production and increase AABB physical gold holdings.
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. AABB 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.
For more information on $AABB visit: www.asiabroadbandinc.com
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Media Contact
Company Name: Asia Broadband Inc.
Contact Person: Chris Torres, CEO
Email: Send Email
Phone: 702-866-9054
City: Las Vegas
State: Nevada
Country: United States
Website: www.asiabroadbandinc.com
