Asia Broadband Inc. reports company developments across precious-metals mining, mineral processing and digital assets linked to physical bullion. News for AABB centers on its gold and silver operations in Mexico, including the Etzatlan processing facility, mining-asset expansion planning, production-line repairs, and the integration of reduced graphene oxide technology for gold recovery.
The company also announces product and platform updates tied to its precious-metal-backed digital asset strategy. Recurring topics include the GoldAxis wallet, the AABBG gold-backed token, the AABBS silver-backed token, multichain wallet functionality, physical bullion backing, and corporate updates on mining and cryptocurrency projects.
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Asia Broadband Inc. (OTC: AABB) has reported a substantial gross profit of $4.6 million for Q1 2023, boosted by $3.9 million in sales from its digital assets, particularly the AABBG token and the Golden Baboons Mining Club NFT. The company anticipates significant growth in its mining operations with the installation of a new processing facility and the commencement of ore stockpile production later in 2023. AABB is enhancing its digital assets division with key improvements to its AABBG token and related platforms, aimed at lowering transaction costs and increasing liquidity. The company has also acquired a substantial 4 million ton ore stockpile in Mexico, valued over $800 million, which is expected to amplify its gold production capabilities.
Asia Broadband Inc. (OTC: AABB) has initiated legal action against certain market makers for alleged illegal trading practices such as naked short selling that manipulate AABB's stock price. The Company has sent cease and desist letters and is prepared to file a lawsuit if compliance is not met. This legal move follows shareholder complaints about the prolonged suppression of the stock price due to deceptive practices. Additionally, AABB is pursuing defamation claims against parties responsible for false internet postings. AABB's President, Chris Torres, emphasized the need to protect shareholder investments and stated that the current stock price does not reflect the Company's true value due to manipulative actions.
Asia Broadband focuses on the production and sale of precious metals, particularly targeting Asian markets, and is also involved in cryptocurrency innovations.
Asia Broadband (OTC: AABB) has accelerated the enhancement of its digital assets division, including key upgrades to the AABBG token, AABB Exchange, and PayAABB, set for launch in the upcoming weeks and throughout Q2 2023. Collaborating with experts in cryptocurrency, blockchain, and cybersecurity, AABB aims to reduce transaction costs and increase processing speeds, liquidity, and user satisfaction. The recent positive trend in cryptocurrency markets is expected to further enhance the impact of these developments. AABB's unique Mine-to-Token strategy promotes independence from FIAT currency, positioning its gold-backed AABBG token as a competitive exchange standard.
Asia Broadband Inc. (OTC: AABB) has secured concession registration for its Bonanza Gold Mine Project in Nayarit, Mexico, after a delay due to administrative backlog. The project, showing over $10 million in gold and silver resource estimates, will proceed with drilling and development as per a 2022 geological report. The Bonanza property has demonstrated significant gold assay results, exceeding 10 grams per ton, positioning AABB for potential high production and low operating costs. The company aims to expand its mining operations and optimize its capital utilization, reaffirming its strategy in the Mexican market.
Asia Broadband Inc. (OTC: AABB) announced the expected delivery of new mining processing equipment within 4 to 6 weeks, with a goal to fully operationalize the new facility in Etzatlan, Mexico, by Q3 2023. The facility will enhance processing capabilities and minimize costs, targeting an initial processing capacity of 200 tons per day, which could generate over $11 million in annual revenue. The company also secured a 4 million ton ore stockpile, valued at over $800 million, under a long-term agreement. AABB aims to expand its gold holdings and continues to develop its digital asset projects.
Asia Broadband Inc. (OTC: AABB) has officially launched the public minting phase for its inaugural NFT collection, the Golden Baboons Mining Club (GBMC). Following an initial reveal party, NFTs can now be purchased without registration at a price of 0.05 ETH each. The collection consists of 8,888 NFTs, each backed by ½ gram of gold. Additionally, a rare legendary NFT backed by 1 troy ounce of gold will be revealed on March 21, 2023, to 10 purchasers. The project roadmap includes future staking and metaverse entertainment. AABB is diversifying with its gold-backed NFTs and aims to create distinctive value for shareholders.