Asia Broadband Inc. has stated that it expects to receive its initial delivery of brand-new mining processing and facility equipment in four to six weeks. To put the new processing plant in full operation on the Etzatlan, Mexico location, AABB’s management and technical experts have set a third-quarter 2023 completion timeline.
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Despite recent industry difficulties with equipment deliveries, the company’s equipment supply agents and distributors in Asia have verified the date of the receiving logistics.
The new plant will make use of automated, efficient, and modern mining equipment to increase processing throughput, recover more metals, and reduce production costs. Additionally, when the first production levels have been achieved, the new facility will be equipped with enhanced processing capabilities.
In accordance with the terms of the historical and long-term processing and production agreement previously signed for a significant gold and silver ore stockpile located in Las Jimenez, Etzatlan, Jalisco, Mexico, AABB completed the land purchase for the site of the new processing facility in December 2022.
The agreement gives the company the exclusive right to buy the 4-million-ton ore stockpile at a price that is both reasonable and profitable.
According to a recent evaluation report, the stockpile’s entire gold and silver value is believed to be above $800 million. The stockpile processing project is the company’s most significant high-yield asset acquisition to date as part of its strategic development effort to enhance AABB’s physical gold holdings and acquire gold production.
The ore stockpile at Etzatlan, Mexico, is 5.8 miles away from the 4.94-hectare processing plant land parcel, which also contains a water concession, while the AABB Buenavista mining warehouse is 48 miles away. The construction of the new plant is projected to cost $3 million, and its initial processing capacity is 200 tons per day (tpd).
The mill is expected to generate over $11 million in revenue every year at this initial stage of processing. As soon as the mill’s first processing level is regularly at capacity, the company will also accelerate the installation of a mill expansion to enhance processing capacity by a factor of 5 to 1,000 tpd.
The primary suppliers of processing plant equipment in Asia are experiencing challenges to meet delivery times, but we are working around this effectively to stay on path with our facility installation timeline. The revenue from our ore stockpile processing agreement project this year will be the foundation of ABBB’s growth to the next level of operations and expansion in all areas of our business.
Chris Torres, President and Chief Executive Officer, Asia Broadband Inc.
In further company news, management intends to publish an update on mineral prospects in the upcoming weeks. AABB also announced that $1 million in gold bullion was added to its corporate holdings from mining production in 2022 for gold-backing of its Golden Baboons Mining Club (GBMC) Non-Fungible Token (NFT) collection and other digital asset initiatives.
The AABB program to increase its physical gold asset base through its mining activities is advanced by the most recent milestone that the company has achieved.
Source: https://asiabroadbandinc.com/