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Asia Broadband Sets Production Expansion Timeline for the Tequila Gold Mine Project in Mexico

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Asia Broadband Inc. (OTC: AABB) is set to complete a retrofitting upgrade at its Tequila mining property in Mexico, aiming to increase production capacity from 50 tons per day (tpd) to 100 tpd within six months. This upgrade is expected to enhance gross profit margins through greater extraction efficiency. Additionally, the company plans a major expansion later this year, leveraging automated mining technologies. A geological assessment report is anticipated soon, which will support further development and resource optimization in the region.

Positive
  • Production capacity expected to double from 50 tpd to 100 tpd in six months.
  • The upgrade will significantly enhance extraction efficiencies and gross profit margins.
  • Plans for a large-scale expansion of facilities later this year.
Negative
  • None.

LAS VEGAS, May 04, 2022 (GLOBE NEWSWIRE) -- Asia Broadband Inc. (OTC: AABB) (“AABB” or the “Company”) is pleased to announce that the Company has set the completion timeline for its facilities retrofit production upgrade on its mining property in the Tequila region of Mexico. The Company expects the upgrade program to be complete with an additional 50 tons per day (tpd) production capacity available within 6 months. At that time, the mill capacity will be 100 tpd and double the current processing limit of 50 tpd. Additionally, the Company is planning a large-scale expansion of its production and processing facilities to begin installation later this year. Utilizing the advances in mining equipment automation and efficiency, the larger scale facilities will have significantly increased throughput and metals extraction. The added production volume at a lower cost per ton is expected to have a substantial impact on the Company’s gross profit margin going forward.

“The completion of our production facilities retrofit at Tequila will double our production and also add extraction efficiencies. We are excited to reach that point because it will provide the platform to plan and build out a large-scale expansion to our processing plant,” stated Chris Torres, the Company President and CEO.

Further to the Tequila property, the Company is expecting to receive a geological assessment report in the coming weeks prepared by a qualified professional person. The report will allow the Company to maximize its exploration, development and resource expansion program as well as facilitate production efficiencies and planned processing equipment upgrades and additions.

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, supply and sale of precious and base metals, primarily to Asian markets. The Company utilizes its specific geographic expertise, experience and extensive industry contacts to facilitate its innovative distribution process from the production and supply of precious and base metals in Mexico to client sales networks in Asia. This vertical integration approach to sales transactions is the unique strength of AABB that differentiates the Company and creates distinctive value for shareholders. Additionally, the Company has added a digital assets business segment and released its AABBG freshly minted mine-to-token gold-backed cryptocurrency within its AABB Wallet and a proprietary digital exchange AABBExchange. 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.

Contact the Company at:
  
General Email:ir@asiabroadbandinc.com
Exchange Support:https://aabbexchange.com/faq/
Token Support:https://aabbgoldtoken.com/faq/aabb-wallet/
 www.AABBGoldToken.com/support/
Company Websites:www.asiabroadbandinc.com
 www.AABBExchange.com
 www.AABBGoldToken.com
  
Phone: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 is Asia Broadband's stock symbol?

Asia Broadband's stock symbol is AABB.

When will Asia Broadband complete its production upgrade?

Asia Broadband expects to complete its production upgrade within six months.

How much will Asia Broadband's production capacity increase?

Asia Broadband's production capacity is set to increase from 50 tons per day to 100 tons per day.

What is the expected impact of the upgrade on Asia Broadband’s gross profit margins?

The upgrade is expected to enhance Asia Broadband’s gross profit margins through improved extraction efficiency.

What additional plans does Asia Broadband have for its facilities?

Asia Broadband plans a large-scale expansion of its production facilities later this year.

ASIA BROADBAND INC

OTC:AABB

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