- Asia Broadband is increasing its physical gold holdings, to financially leverage and back the company’s AABBG cryptocurrency token, through acquisitions of historic gold mine site properties
- The company is currently at an advanced stage of negotiations and due diligence process for the purchase of the 200-hectare Los Reyes property in western Mexico, whose assay results show significant promise
- AABB also announced that it has entered into an LOI to acquire a high-yield asset in the prolific mining region of Acaponeta in Nayarit, also in western Mexico
Asia Broadband (OTC: AABB), a resource company operating using a vertically integrated model that sees it produce, supply and sell precious and base metals, primarily to Asian markets, is committed to strategically increase its physical gold holdings, to financially leverage and back the company’s AABBG cryptocurrency token, by acquiring gold production and high potential gold properties. Driven by this goal, AABB recently made notable strides that are expected to culminate in the acquisition of properties located in two prolific mining regions of Mexico.
The first property – the Los Reyes property – located in the region of Mascota in Jalisco, Mexico, and covering an expansive area of 200 hectares, has two mine sites and houses on-site processing facilities, including one capable of processing 50 tons of gold per day (https://ibn.fm/e78Wq). Asia Broadband recently received the mapping and rock sample assay results for this property as part of a due diligence process that entails performing an expert review of the technical parameters of an asset.
The results from non-targeted rock samples showed great promise for AABB and strongly demonstrated that targeted drilling samples, directed by geophysics data, could have higher gold concentrations and values. Asia Broadband intends to continue conducting more due diligence procedures, as well as furthering negotiations to acquire the property as a fulfillment of the letter of intent (“LOI”) it had signed in early March (https://ibn.fm/gTnjQ). The property has an estimated asset value of $30 million.
AABB’s sights are also set on a second property located in the region of Acaponeta in Nayarit, Mexico, as indicated by a recent announcement in which the company reported it had signed an LOI to acquire the asset (https://ibn.fm/pjCBG). The property has two mine sites, existing infrastructure and a processing facility capable of processing 200 tons of gold per day. Considered a high-grade acquisition target, the asset is located about 48 kilometers southeast of Acaponeta city and 3 kilometers from El Carrizo town.
Asia Broadband anticipates that the Acaponeta project, which has the potential for rapid development, will offer high gold production at low operating costs. In the next few weeks, the company will carry out additional due diligence procedures, including mapping and rock sampling programs, and continue its negotiations to purchase the $11 million property. As part of the initial due diligence, AABB conducted some rock sample tests whose assay results are expected in the coming weeks.
The company noted that efforts were underway to accelerate the Acaponeta project’s acquisition and expeditiously commence production. AABB also stated that once it reaches a definitive agreement, it would avail additional information, such as location details, photos and mineralization data. A look at the company’s new YouTube channel shows that AABB may have reached this point. The channel features short videos showcasing the Los Reyes and Acaponeta properties. You can watch the videos here (https://ibn.fm/izcDY).
For more information, visit the company’s website at www.AsiaBroadbandInc.com.
NOTE TO INVESTORS: The latest news and updates relating to AABB are available in the company’s newsroom at https://ibn.fm/AABB
About MiningNewsWire
MiningNewsWire (MNW) is a specialized communications platform focused on developments and opportunities in the global resources sector. The company provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, and (5) a full array of corporate communications solutions. As a multifaceted organization with an extensive team of contributing journalists and writers, MNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, MNW brings its clients unparalleled visibility, recognition and brand awareness. MNW is where news, content and information converge.
To receive SMS text alerts from MiningNewsWire, text “BigHole” to 21000 (U.S. Mobile Phones Only)
For more information, please visit https://www.miningnewswire.com
Please see full terms of use and disclaimers on the MiningNewsWire website applicable to all content provided by MNW, wherever published or re-published: https://www.miningnewswire.com/Disclaimer
MiningNewsWire
Los Angeles, California
www.miningnewswire.com
310.299.1717 Office
Editor@MiningNewsWire.com
MiningNewsWire is part of the InvestorBrandNetwork.
