Business
Asia Broadband Adds DrilIing Program Equipment Capacity To Accelerate Gold Exploration and Production, As Gold Price Strength Continues
Asia Broadband Adds DrilIing Program Equipment Capacity To Accelerate Gold Exploration and Production, As Gold Price Strength Continues.
About this update from Asia Broadband, Inc.
[{"type":"text","content":"\n LAS VEGAS, July 24, 2024 (GLOBE NEWSWIRE) -- Asia Broadband Inc. (OTC: AABB) (“AABB” or the “Company”) is pleased to announce that the Company has purchased three hydraulic diamond core drilling exploration rigs to its equipment inventory to increase drilling efficiency and capacity for the ongoing drill programs at Picachos and La Paz in Jalisco, Mexico. The new high efficiency drill rigs will be shipped from China and are expected to be delivered at the port of Manzanillo, Mexico, in late August. AABB mining operations are working diligently to accelerate the development of all the Company’s prospective high yield gold projects in its strategic expansion initiative to increase gold production and physical gold holdings. AABB’s 2024 first quarter results recorded a doubling of gold production from the levels recorded in the last quarter of 2023. The resulting increase in gross profit in the first quarter was attributed to higher-grade recoveries, increased daily throughput levels and reduced production costs from economies of scale. Currently nearing the publishing of the 2024 second quarter results, the Company has confirmed it exceeded its production and gross profit levels achieved in the first quarter, further validating ABBB mining operations success. “We are highly anticipating the August equipment delivery and deploy the additional drilling capacity as soon as possible. Our focus is to continue our increased production and exploration momentum into the second half of the year”, expressed Chris Torres, the Company President and CEO. 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. About Asia Broadband Asia Broadband Inc. (OTC: AABB) is a resource company focused on the production of precious metals and the accumulation of physical gold holdings. The Company utilizes its specific geographic expertise, experience and extensive industry contacts to facilitate the expansion of precious metals property holdings and production in Mexico. The Company's industry and business integration i...