Asia Broadband Inc. (OTC:AABB) Stock Falls After Announcing New Processing Facility Site

On Wednesday, there was a rapid selloff in the Asia Broadband Inc. (OTC:AABB) stock after the company provided a key update about its new processing plant located in Etzaltan, Mexico. The stock ended lower by 14.67% to $0.03.

Asia Broadband’s Billion Dollar Gold and Silver Ore Stockpile Processing Plant Completion Expected In Q1 2025

Asia Broadband announced that the installation process at the plant was ongoing and the expected date of completion was at some point in the first fiscal quarter of 2025. As per the exclusive agreement signed by the company, the facility would be mainly focused on the processing of large-scale surface ore stockpiles.

Previous Plan

Previously, the completion estimate for the construction and installation of the plant had been set for the latter half of 2024. However, the target was no longer feasible because the delivery of the accessories and key equipment had been delayed by Asia Broadband’s Asian suppliers. The construction crew had, however, worked despite the delays and inclement weather.

Current Plan

Over the course of the upcoming months, the rest of the equipment would be delivered by the suppliers. Those would then be installed and then tested into the processes of the plant system. The plant had been designed by the company to operate cutting-edge mining equipment automation with the aim of maximizing throughput and minimizing production costs.

CEO Comment

“As we continue to receive the remaining pieces of equipment for installation and testing over the coming months, we will remain focused on utilizing the high-grade testing results completed by our technical team from the ore stockpile to create prioritized target zones for production. With our own mineral testing lab on the facility site, we can identify the highest mineral concentration priority targets in a very short period of time instead of having to rely on outside mineral analysis services. The efficiency and quality advantage with our processing lab will allow us to achieve the greatest value throughput to maximize and expand revenues when stockpile production begins,” explained Chris Torres, AABB President and CEO.

Traders Notes

+/- EMA(20)	0.0394 (-18.78%)
+/- SMA(50)	0.0413 (-22.52%)
+/- SMA(200)	0.025 (+28.00%)