Asia Broadband Doubles Gold Production In 1st Quarter, Prior To Ore Stockpile Processing Plant Completion

Rhea-AI Summary

Asia Broadband Inc. (AABB) reports a significant increase in gold production in the 1st quarter of 2024, doubling compared to the previous quarter. The company attributes this growth to higher grade recoveries, increased daily throughput levels, and economies of scale. The enhanced operational strategies have led to reduced production costs and higher gross profits. AABB is constructing a new processing plant in Mexico to handle its $1 billion ore stockpile, with an update expected soon.

Positive

• Asia Broadband Inc. (AABB) doubled its gold production in the 1st quarter of 2024 compared to the 4th quarter of 2023.
• The increase in production is a result of higher grade recoveries, increased daily throughput levels, and economies of scale.
• The company's operational efficiencies in Q1 have lowered production costs and boosted gross profits.
• AABB is building a new processing plant in Mexico to handle its $1 billion ore stockpile, with an update on progress forthcoming.

Negative

• None.

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 1^st 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 1^st quarter of 2024, in comparison to the 4^th 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 from other companies and creates distinctive value for shareholders. Additionally, the Company has a digital assets business segment with its AABBG mine-to-token gold-backed cryptocurrency within its own proprietary AABB Wallet and the unique Golden Baboons Mining Club and Shorts Rascal Club Non-Fungible Token (NFT) collections. AABB expects its token to become a world-wide standard of exchange that is stable, secured and trusted with gold backing, while having the added benefit of demand based price appreciation. These are unique and outstanding qualities relative to other cryptocurrencies and digital asset developers.

Contact the Company at:

General Email: Token Support: Company Websites: Phone:	ir@asiabroadbandinc.com support@aabbgmine2token.com www.asiabroadbandinc.com www.aabbgmine2token.com www.goldenbaboons.com 702-866-9054

Forward-Looking Statements are contained in this press release within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the Asia Broadband Inc.’s (the “Company”) expected current beliefs about the Company’s business, which are subject to uncertainty and change. The operations and results of the Company could materially differ from what is expressed or implied by the statements made above when industry, regulatory, market and competitive circumstances change. Further information about these risks can be found in the annual and quarterly disclosures the Company has published on the OTC Markets website. The Company is under no obligation to update or alter its forward-looking statements as future circumstances, events and information may change.

FAQ

What caused Asia Broadband Inc. (AABB) to double its gold production in the 1st quarter of 2024?

The increase in gold production was due to higher grade recoveries, increased daily throughput levels, and economies of scale.

Where is Asia Broadband Inc. (AABB) constructing a new processing plant?

Asia Broadband Inc. (AABB) is building a new processing plant in Etzatlan, Mexico.

What is the estimated value of the ore stockpile that Asia Broadband Inc. (AABB) will process?

Asia Broadband Inc. (AABB) will process an estimated $1 billion ore value from its exclusive rights surface stockpile.

Who is the President and CEO of Asia Broadband Inc. (AABB)?

Chris Torres is the President and CEO of Asia Broadband Inc. (AABB).