Wednesday, September 04, 2019 7:29:45 PM
2018 6% $5M 20,443,586 Cost Per Share .244
2019 10% $9M Est 57,328,000 @.244
2020 12% $10M Est 98,311,000 @.244
2021 12% $10M Est 139,300,000 @.244
This investment was finalized shortly after the investors week long site visit/audit in 2018 for a 40% equity position, you can do the math!
If you pay attention what is taking place with the share structure is very clear, but it will all become clear with IMO OTCQB up-list firm selection by the end of this year!
LAS VEGAS, Oct. 24, 2018 /PRNewswire/ -- Asia Broadband Inc. (OTC : AABB), through its wholly owned subsidiary Asia Metals Inc., has signed a definitive joint venture agreement for the large scale expansion of the Company's mining operations in the state of Guerrero, Mexico, with Qiangda Investments & Economics & Co., Ltd.. The agreement guarantees a $34 million capital commitment allocated over a 3 year period on a time-lined payment schedule to earn-in a maximum 40% equity interest in the Company. The schedule consists of a $5 million initial payment that has now been received earning a 6% equity interest, a $9 million minimum payment in 2019 to earn a further 10% interest, a $10 million minimum payment in 2020 to earn a further 12% interest and a $10 million minimum payment in 2021 to earn a further 12% interest. The joint venture capital will be allocated specifically to expand the identified resources within the Asia Broadband properties and build out a new production processing facility with greater efficiency and capacity, but also includes provisions for new exploration expenditures
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