LAS VEGAS, Aug. 28, 2024 (GLOBE NEWSWIRE) -- Asia Broadband Inc. (OTC: AABB) (“AABB” or the “Company”) is pleased to announce that the Company has been thrilled with the rise in gold and silver prices this year and the corresponding increases to AABB’s quarterly net income. Additionally, the recent news that Samsung plans to mass produce a next generation electric vehicle (EV) battery that requires silver could have a major impact on AABB’s revenue growth if silver prices rise as expected. Approximately half of the Company’s quarterly production is silver, which will expand immensely when the new ore stockpile processing plant begins throughput operations in Etzatlan, Mexico. As silver production rises in the near future, AABB will evaluate the accumulation of silver bullion for investment appreciation and for a proposed silver-backed token.
“The strength of the precious metals markets creates a significant increase to our gross profit margin and net income. And now that the demand for silver is expected to be on the rise with Samsung’s new EV battery, this profitability effect will continue to get stronger. Also, the scale of this profitability effect will also increase as we ramp up our production of both gold and silver considerably when our new stockpile processing plant begins operating at Etzatlan,” stated Chris Torres, AABB President and CEO.
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: | ir@asiabroadbandinc.com support@aabbgmine2token.com www.asiabroadbandinc.com www.aabbgmine2token.com www.goldenbaboons.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.
