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Asia Broadband Surpases Double Gold Production In 1ˢᵗ Quarter, Prior To Ore Stockpile Processing Plant Completion
Asia Broadband Surpases Double 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, July 17, 2024 (GLOBE NEWSWIRE) -- Asia Broadband Inc. (OTC: AABB) (“AABB” or the “Company”) is pleased to announce that the financial results for the 2nd quarter ending June 30, 2024, will be published in the coming weeks confirming the Company has exceeded its production and gross profit levels achieved in the 1st quarter. 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 each of the last two quarters. The elevated operational strategies and efficiencies of the AABB mining team continued in the 2nd quarter to set 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 continues to develop the processing plant and will release updates as progress milestones are reached. “Our operations team has elevated our production processes in the first and second quarters of this year and we are eagerly awaiting 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 in...