LAS VEGAS, May 25, 2022 (GLOBE NEWSWIRE) -- Asia Broadband Inc. (OTC: AABB) (“AABB” or the “Company”) is pleased to announce that the Company has begun conducting procurement assessments of mining processing and facilities equipment in meetings and demonstrations with equipment supply agents, distributors and manufacturers. The Company’s management, geological and technical consultants are examining and evaluating production and facilities equipment to assess the capabilities and capacities relevant to the Company’s production expansion requirements.
“This is a valuable process for the Company. The extensive efforts by our team to evaluate and source the optimal production equipment for our current and future requirements are building the foundation to efficiently replicate production expansions on our other properties,” declared Chris Torres, AABB President and CEO.
AABB recently began a facilities retrofit production upgrade on its mining property in the Tequila region of Jalisco, Mexico, that is expected to double the current processing capacity to 100 tons per day (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.
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:
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.