Asia Broadband Inc (OTCMKTS:AABB) Stock on Watchlist After Mineral Properties Update
Yesterday Asia Broadband Inc (OTCMKTS:AABB) came into the news cycle after it came up with a key update with regards to its mineral property holdings. The company noted that it had been working on the development of all the mining properties it had interests in since last year and into this year as well.
Trading Data
On Wednesday, AABB stock rose 0.90% to $0.0280 with 8.43 million shares, compared to volume of 6.67 million shares. The stock moved within a range of $0.0268 – 0.0294 after opening trade at $0.0281.
Asia Broadband Mineral Properties Update
Additionally, the mining operations group at the company had also decided to keep its focus on the specific properties which had the potential for fast expansion, higher grade production and lower cost of operations. The company believes that such properties would help in maximizing its profits.
The overall thrust of its capital expansion program is to boost gold production and physical gold holdings so as to boost the growth of its digital assets business. In December last year the company had been successful in completing the land purchase where it would have its new processing facility.
The facility would be constructed as per the terms of the historic and long term production and processing agreement with regards to a large scale gold and iron ore stockpiling facility in Las Jimenez, Etzatlan, Jalisco, Mexico. It could be a good move to keep an eye on further developments on this front.
