Business
Asia Broadband Doubles Gold Production In 1st Quarter, Prior To Ore Stockpile Processing Plant Completion
Asia Broadband Doubles Gold Production In 1st Quarter, Prior To Ore Stockpile Processing Plant Completion.
About this update from Asia Broadband, Inc.
[{"type":"text","content":"\n LAS VEGAS, April 16, 2024 (GLOBE NEWSWIRE) -- Asia Broadband Inc. (OTC: AABB) (“AABB” or the “Company”) is pleased to announce that the financial results for the 1st quarter ending March 31, 2024, will be published in the coming weeks confirming the Company’s increased production and gross profit. Gold production more than doubled in the 1st quarter of 2024, in comparison to the 4th quarter of 2023, due to the higher grade recoveries and increased daily throughput levels. Additionally, the economies of scale from higher productions levels reduced production costs and added to the bottom-line gross profit for the quarter. The elevated operational strategies and efficiencies of the AABB mining team in Q1 are setting the foundation for the high production levels to follow the completion of the Company’s processing plant. The new facility is currently under construction in Etzatlan, Mexico, and its capacity will be primarily dedicated to processing the estimated $1 billion dollar ore value of the Company’s exclusive rights surface stockpile. AABB expects to release a processing plant progress update in the coming weeks. “Our operations team have really geared up our production in the first quarter and we are excited to extend this expertise to our massive ore stockpile processing when the new plant is complete. This will take us to a much higher level than we have ever reached before,” stated 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 in Mexico and its asset diversification are unique strengths of AABB that differentiate it fr...