en.Wedoany.com Reported - Asia Broadband Inc. (OTC: AABB) has proposed to acquire a high-grade gold and silver underground mining concession in the Etzatlán region of Jalisco, Mexico, for a total consideration of $5.5 million.
The target mining concession is an underground mine asset adjacent to the company's Etzatlán gold and silver processing plant. Based on the company's analysis of historical drilling data, the highlights of the asset's historical drilling results show gold grades ranging from 9 g/t to 12 g/t and silver grades ranging from 350 g/t to 400 g/t.
This proposed acquisition is part of the company's expansion plan for the Etzatlán mining area. The company expects to finalize a definitive agreement and complete the acquisition in the third quarter, followed by advancing mine and production planning in the fourth quarter of 2026, initiating mining activities, and processing mineralized material at its Etzatlán gold and silver processing plant.
Chris Torres, President and CEO of AABB, stated that this letter of intent is a significant component of expanding the Etzatlán production area. He believes that the historical gold and silver grades evaluated to date are highly attractive, and the underground mine characteristics align well with the company's strategy of acquiring mineralized material near the plant, presenting substantial potential for this acquisition.
Except for customary exclusivity, confidentiality, and due diligence provisions, this letter of intent is non-binding. The completion of the transaction is subject to the execution of a definitive agreement, satisfactory due diligence, verification of ownership and technical data related to the mining concession, customary closing conditions, and any necessary regulatory or governmental approvals.
Asia Broadband Inc. (OTC: AABB) is a resource company focused on precious metals production and the accumulation of physical gold and silver. The company leverages its regional expertise, experience, and extensive industry relationships in Mexico to expand its precious metals asset holdings and production. The company's industry and business integration in Mexico, along with its asset diversification, are unique advantages of AABB. Additionally, the company has a digital asset business segment, including gold and silver-backed cryptocurrencies AABBG and AABBS mine pair tokens within its proprietary GoldAxis wallet, as well as the Golden Baboons Mining Club and Shorts Rascal Club non-fungible token (NFT) collections. AABB expects its tokens to become a stable, secure, and gold-and-silver-backed global exchange standard, with the added advantage of demand-based appreciation.
