Asia Broadband Inc (OTCMKTS:AABB) Stock In Focus After Recent News
On Tuesday Asia Broadband Inc (OTCMKTS:AABB) came on to the news cycle after it made a major new announcement with regards to its Bonanza Gold Mine in Nayarit, Mexico. The company confirmed yesterday that concession registration had been completed for the mine with the Mexican Mining Registry.
Trading Data
On Tuesday, AABB stock slid 4.67% to $0.0204 with more than 13.15 million shares, compared to its average volume of 7.15 million shares. The stock moved within a range of $0.0200 – 0.0221 after opening trade at $0.0210.
Asia Broadband Confirms Mining Registry Update For Its Bonanza Gold Mine Project As Development and Drilling Program Continues
That being said the company also noted that an administrative processing backlog at the registry had been the main reason behind the significant delay that had been caused. However, Asia Broadband also pointed out that while the registration was being delayed it had continued to work on the mine.
At this point in time, Asia Broadband is working on the development of the property as well as the drilling programs related to it. The drilling program for the property had been recommended to the company in a certified geological technical report from 2022 and had been prepared by a qualified professional belonging to Micron International Limited.
The mineral resource estimate at the property is something else that investors ought to be aware of. The valuation of the estimated silver and gold at the property was in excess of $10 million as per the technical report. It may be a good idea to keep an eye on further developments.
