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Guerrero Gold Belt Mine sell transaction http://mnamexico.com/wp-content/uploads/2021/02/Reporte-Mensual-01-2021-ENG.pdf
https://apnews.com/press-release/globenewswire-mobile/technology-business-corporate-news-latin-america-and-caribbean-north-america-95abdad896976a94ead9f22ee571deb8 "In the coming weeks, the Company will be conducting further due diligence and continuing its negotiations to acquire the estimated $30 million property. All efforts are underway to accelerate this turnkey acquisition in order to rapidly advance AABB into production and begin an expansion program. The Company anticipates negotiating a definitive agreement to acquire the property in the very near future and will release additional location details, photos and mineralization information at that time."
Scam is unprovable for now....they sold their mine for 82 million...30 million was in gold bullion...52 million cash...the 30 million gold bullion is being used for the Gold Backed Crypto I'm sure...money maker for them...they are using 30 million of the 52 million cash to buy a mine located near Navidad, Mexico near Mascota, Mexico in Jalisco State...as far as them commenting on the exact location and owner, I am sure they are keeping it under wraps now as they don't want to get into a buying war with some other miner...they have only signed and LOI on the purchase...with 22 million and equipment on site, they can start mining with some capital to work with...the equipment on site can only handle 50 tons of ore per day, not even close to what they need to actually make money off the two mines, they need 500 tons minimally per day if the gold ore yields 2 grams per ton...the second thing I can see that will be a challenge for them is infrastructure, the mines are 3 km from Navidad, Mexico not Barra de Navidad, the Community of Navidad up in the mountains east of Mascota...they are presently performing DD on the mining sites, they will then know how much gold it yields per ton, if it yields 3 grams or above they will be mining it for sure...if 2 grams or lower, they may back out of the deal depending on availability of equipment to mine the huge amounts of ore to be profitable...
Lol...better when they blow than when they suck....if the well kicks it means they under anticipated the formation pressure which can be a positive, but many times they lose circulation and it is sometimes difficult to get mud returns back to surface...I'm with you BB50, I rather see it "kick" a little...
Funny enough we say "Bottoms Up"...in the oilfield...it refers to when we circulate fro the bit to surface to clean the hole, for a sample of formation, etc...CBU or Circulating Bottoms Up...
Fixed brother...should be valid now....
Asia Broadband Retains Integrity Media for Investor Relations and Corporate Communication...https://www.thecowboychannel.com/story/43277541/asia-broadband-retains-integrity-media-for-investor-relations-and-corporate-communication
Why would they go to this length unless they are looking to build steam for uplisting?
They definitely made the cash to back up their coins and start mining operations
https://www.globenewswire.com/news-release/2021/01/28/2165810/0/en/AABB-Asia-Metals-Achieves-16-Million-Annual-Gross-Profit-and-Validates-Mining-Operations-Success.html
Subsequent to the closing the 2020 year-end, AABB completed the sale of its mining operations in the Guerrero Gold Belt (GGB), Mexico, for $82 million, further validating the Company’s development achievements. AABB thereafter shifted its focus to leverage its resources and experience to duplicate its successful GGB mining operations expansion model on its high potential Colima, Mexico, gold property. Additionally, the Company has allocated $10 million for the initial phase development program to accelerate operations and expansion toward production at the Colima property. The construction of exploration and development facilities and infrastructure roads has already begun as part of the first phase development program.
Borrowed: AABB DD...Earlier today a two-part post was made describing (in pictures lol) that the OTC ticker AABB was a scam, causing a massive selloff. At the same time these posts were made, 10-15 bear accounts raided the StockTwits message board spreading the same fear in a clearly coordinated and planned attack.
Once the stock found a bottom, buy activity commenced, the bears vanished, and the reddit scam posts were removed.
Reddit was taken advantage of, yet again, by the market makers and hedge funds causing many redditors to sell in panic and lose their money.
I want to provide some counter points to the scam article, to explain a) why I believe this company is not a scam and b) why I believe this company is a solid investment.
They have fabricated financials and history. - NOT TRUE https://backend.otcmarkets.com/otcapi/company/financial-report/263765/content - September 2020 filings. Notice the securities counsel attesting to the validity of the filings.
Securities Counsel
Firm: Poole & Shaffery LLP & Economics Co. Ltd. Asia Broadband Inc. - Quarterly Disclosure September 30, 2020 Page 21 of 22 Address 1: 25350 Magic Mountain Parkway Address 2: Santa Clarita, CA 91355 Phone: (855) 997-7522 Email: info@ pooleshaffery.com
https://www.pooleshaffery.com/ - NOT A FAKE LAW FIRM, IN FACT QUITE REPUTABLE.
Seems the are current actually, expect to see Q4 financials soon. Early in the history they reported losses - scammers reporting losses? makes no sense.
Why would a scam company commit publicly to an audit of all financials for uplist to OTCQB - if they in fact were a scam with fraudulent books? Public commitment PR: https://www.globenewswire.com/news-release/2021/02/04/2169953/0/en/Asia-Broadband-Updates-Auditor-Status-For-Uplist-Qualification.html
Engaged firm https://www.turnerstone.com/ - NOT A FAKE ACCOUNTING FIRM, IN FACT QUITE REPUTABLE
The leadership team doesn't exist, fake people. Enter James Gilbert. https://www.linkedin.com/in/james-gilbert-btresourcesllc/ - speaks spanish, accomplished mining executive, wharton grad, currently a mining consultant "Providing strategy, management and financing/transaction consulting services to the mining and metals industry."
Why is he not out there publicly? They mine in cartel territory in mexico, so leadership and the company wants to remain a bit closed lip to protect the privacy and safety of the team. Additionally, Chinese businesses are notoriously private. Do some DD here and you will see what is going on plain as day. IR company has stated exactly this to investors asking for access to leadership. (BTW Integrity Media is the IR firm http://www.integritymedia.com/ - NOT A FAKE IR FIRM, IN FACT QUITE REPUTABLE)
Stock photos/mine locations etc... This is a MINING company that has a crappy website - it's not uncommon for pennies to not have the greatest web presence, but it's ok bc they are MINING not web development. They have ack'd this and are in the process of fixing their web presence and the aabbgoldtoken.com website and asiametals.
They have no mines, it's all bullshit. - NOT TRUE PR: https://www.globenewswire.com/news-release/2021/01/14/2158624/0/en/AABB-Asia-Metals-Completes-82-Million-Sale-Of-Guerrero-Gold-Belt-Mine-And-Facilities-In-Mexico-To-Joint-Venture-Partner.html
Corroborated by Mexican m&a activity report from another reputable investment bank - Seale and Associates on M&A activity in mexico. https://www.sealeassociates.com/
http://webcache.googleusercontent.com/search?q=cache:dTLBRe8j6xsJ:mnamexico.com/wp-content/uploads/2021/02/Reporte-Mensual-01-2021-ENG.pdf+&cd=2&hl=en&ct=clnk&gl=us
"Qiangda Investments & Economics & Co.,Ltd., a Chinese holding company that focuseson the mining sector, announced the >acquisition of an additional 50.0% stake in theGuerrero Gold Belt Mine and Facilities inMexico from Asia Metals Inc., an >Americanmining company, for US$82.0 million"
The coin is fake - there is no app. - NOT TRUE https://etherscan.io/address/0xb8635f02398f27297a58b2833e06bfb987b028d8 - the AABBG coin, note the testing transactions from yesterday per the PR from AABB in conjunction with CoreStateHoldings - the developer.
https://www.globenewswire.com/news-release/2021/02/23/2180436/0/en/Asia-Broadband-Gold-Backed-Cryptocurrency-Token-Development-Update.html
Corestateholdings is fake or scammers. - NOT TRUE Really? https://ptpwallet.com/ looks pretty legit. Ptpwallet is on android and ios. They run https://cannasos.com/ - looks pretty legit.
I don't see how you can call these guys fake- they looks like a development shop that would be contracted to help a miner launch crpyto. the coin is also proven real.
The coin isn't backed by gold - MISLEADING In an attempt to be transparent the company has listed the legal disclaimer with the coin - including language that says in effect the coin is not backed by hard assets or credit. This means that you cannot redeem the coin for gold (they won't send it to you) and you can't get FIAT credit for your token from AABB. This doesn't mean though that the currency is not itself backed by gold reserves already mined and to be mined. It just covers the legal stance that AABB isn't going to mail you gold if you buy the token. Seems pretty standard legalese to me. BTW bitcoin doesn't have similar disclosures, would love to see that transparency....
There is more DD we can get into here, but the core arguments made is that this company is a giant scam, and the evidence, corroboration disproves that thesis pretty substantially.
The level of felony conspiracy and coordinated, flawless scam execution across multiple companies, law firms, IR firms, accounting firms with reputation on the line at this stage in the game is laughable if not tactically impossible to pull off.
AABB has money, gold, increasing awareness, and many upcoming catalysts including audit/uplist, coin launch, future mine development, shareholder dividend prospects etc... where they lack in easily accessible transparency is made up in potential for giant gains here.
Turns out, AABB looks as real as it gets in OTC land. Those who invested should do so knowing there is always risk, and do their own DD. Just don't get played so easily.
Guerrero Gold Belt, Mexico, with Joint Venture Partner, Qiangda Investments & Economics Co. Ltd...http://mnamexico.com/wp-content/uploads/2021/02/Reporte-Mensual-01-2021-ENG.pdf
Another point that needs to be made...quality of the oil found...IF the quality is a high API grade then this will increase the price of the oil "in the ground"...41-44 API was found at Willow, this is super high grade oil, condensate as it is known to oil folks...it takes very little refining to make high quality fuel, BUT when I worked for Mobil then ExxonMobil I learned something, they use the lighter grade oil to reduce the viscosity of the heavier oils 25-30 API so it can flow through the pipeline at greater volumes and efficiency therefore increase their daily profit...Merlin 1 is being drilled in the same geological formations as Willow and it is also very close to UMIAT, UMIAT was extremely high quality oil that could be used for fuel straight out of the ground...so if they hit good quantity and quality as well this would be the dream, they would probably sell it "in the ground" for $5-6 bbl instead of $3 bbl...this is just an educated guess at what could happen, I have drilled some of the best crude in the world, it looked like pure gasoline when I flowed it back, very volatile as well...and it was only 36-39 API...
Merlin 1 Update 2:
https://clients3.weblink.com.au/pdf/88E/02355881.pdf
A good 3D layout of the potential reservoir...
https://cdn.finfeed.com/images/57b_-_88E_-_Willow_map.width-800.png
https://finfeed.com/small-caps/energy/88-energy-receives-prompt-permit-drill-merlin-1/
Basic Geology: EEENF are definitely chasing an extremely good prospect, this is basic geology...three things that can't deny physics...gas, oil, water...thats the order you will find them in a reservoir top to bottom...but they reservoir could be layered and also running up dip or down dip (slanted in the formation)....the gas will be at top, oil in the center, water in the bottom which is usually called the "water leg"...if they hit large gas layer with small oil layer then they can discern which way to drill to get into a thicker oil layer...they could also do this if they hit a small oil layer but large (thick) water layer (leg)...BUT if they hit small layer of gas, large thick layer of oil and no water layer they are in the sweet spot for sure or even an ALL oil layer with no gas or water observed...which would be the dream...they then need porosity and permeability...porosity determines how much volume...permeability determines how well how much of that volume can flow into the production string and up to surface...it will also require formation pressure greater then the weight of the oil to push it to surface, being this is virgin reservoir it should easily do that...unless when they produced the UMIAT just south of Merlin 1 until there is no reservoir pressure remaining, I don't think they are interconnected, but this is possible...
https://charts.stocktwits.com/production/original_305952113.png
They are definitely chasing an extremely good prospect, this is basic geology...three things that can't deny physics...gas, oil, water...thats the order you will find them in a reservoir top to bottom...but they reservoir could be layered and also running up dip or down dip (slanted in the formation)....the gas will be at top, oil in the center, water in the bottom which is usually called the "water leg"...if they hit large gas layer with small oil layer then they can discern which way to drill to get into a thicker oil layer...they could also do this if they hit a small oil layer but large (thick) water layer (leg)...BUT if they hit small layer of gas, large thick layer of oil and no water layer they are in the sweet spot for sure or even an ALL oil layer with no gas or water observed...which would be the dream...they then need porosity and permeability...porosity determines how much volume...permeability determines how well how much of that volume can flow into the production string and up to surface...it will also require formation pressure greater then the weight of the oil to push it to surface, being this is virgin reservoir it should easily do that...unless when they produced the UMIAT just south of Merlin 1 until there is no reservoir pressure remaining, I don't think they are interconnected, but this is possible...
https://charts.stocktwits.com/production/original_305952113.png
40 year+ Driller...the biggest challenge I see is they are utilizing a 7000ft Drilling Rig to drill a 6000ft well...this could delay them some, but it is a vertical well I assume, so that will give them and edge in rig horsepower as well...should be a straight forward drill and log, but they may have to set another string of casing as well prior to drilling the objective reservoir/formation...if so it will delay them 5-7 days as well...and they may also have run the logs on the drill string there if the formation pressure is lower, I do not know, if the do it will extend logging timing a few days and delay results...depending on the logs they run will actually tell you what they have found, IF they cut the Logging Program short then most like what they have found is not commercially viable...looking at the seismic log they could be down in the water leg of the reservoir as well, so a lot of variables to be determined...don't risk more than you are ready to lose or hold until next drilling season when they drill Harrier 1...I've drilled every kind of well there is to drill all over the world, I hope they have a great find and perform a DST...if they do say they are DSTing then more than likely it can be commercially produced...they won't spend/waste one more penny than they have to for sure if the initial logs reflect poor results, reservoir size, and permeability quality...they may also hit ONLY gas, but it would give them some results and they could probably determine where the oil lies from looking at the logs/seismic as well...so that would still be a PLUS in my book...
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