Asia Broadband Inc (AABB)

[starman2]

AABB is a play on the crypto boom with the company’s AABB Gold token (AABBG) backed 100% by physical gold held by the Company in several high security, private locations in Mexico.

OTC Stock Analysis AABB
OTC Stock Analysis AABB

AABB just received mapping and rock sample assay results during the ongoing due diligence process regarding the Letter of Intent to acquire a historic production gold mine property and on-site processing facilities in the prolific mining region of Mascota in Jalisco, Mexico.

The 200-hectare Los Reyes property, located approximately 3 km from the community of Navidad at geographic coordinates 20° 15' – 20° 51” latitude North and 104° 31' – 105° 11” longitude West, has an average elevation of 2,600 meters above sea level. The Los Reyes project has two mine sites, existing infrastructure, and a 50-ton per day processing facility operating on 25 hectares of the property.

AABB has been strategically broadening its initiative to acquire gold production and high potential gold properties to increase the Company’s physical gold holdings.

In the coming weeks, AABB will be conducting further due diligence and continuing its negotiations to acquire the Los Reyes project that has an estimated $30 million asset value. All efforts are underway to accelerate this turnkey acquisition in order to rapidly advance AABB toward production and begin an expansion program.

Earlier this month, AABB recorded over $1 million in AABBG Gold Token sales within the first two weeks after the token became available for sale on March 22.

AABB is now developing, with CSHC, its own proprietary cryptocurrency Exchange that will allow AABB Wallet users to quickly exchange their AABB Gold tokens for major cryptocurrencies such as Bitcoin, Ethereum, and Litecoin.

The initial token release is backed by $30 million in physical gold the Company currently holds and will continue to be backed 100% by additional physical gold acquired from future mining production, gold purchased from cash reserves, or credit. At today’s market price of gold, this initial token release available for purchase is 5.4 million tokens at the one-tenth (0.1) gram of gold price (approximately $5.60 USD) for each AABBG token.

We like the fact that AABB is very profitable. Last year, AABB posted around $16 million in gross profits.

https://insiderfinancial.com/otc-stock-analysis-on-aabb-hmbl-rgbp-wdlf/181286/