Business
Asia Broadband Visits Manufacturers In China to Verify Shipments Of New Plant Site Equipment For Large-Scale Gold And Silver Ore Stockpile Processing
Asia Broadband Visits Manufacturers In China to Verify Shipments Of New Plant Site Equipment For Large-Scale Gold And Silver Ore Stockpile Processing.
About this update from Asia Broadband, Inc.
[{"type":"text","content":"\n LAS VEGAS, June 07, 2023 (GLOBE NEWSWIRE) -- Asia Broadband Inc. (OTC: AABB) (“AABB” or the “Company”) is pleased to announce that the Company 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, the Company verified and secured the shipments and deliveries of additional processing equipment for the new facility site in Etzatlan, Mexico. Additionally, Company management embraced and utilized the opportunity to establish and expand its relationships with mining industry and other business contacts. AABB’s management and technical consultants have set a 3rd quarter 2023 completion timeline to bring the new processing facility into 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. To view AABB videos of the manufacturer visits in China, go to: https://www.youtube.com/watch?v=8By0JYyVgXE 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 the Company 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 the Company to date in its strategic expansion initiative to acquire gold production and increase AABB’s 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 budget...