Asia Broadband Inc (AABB)

[alidare]

Little AABB history on Guerrero Gold Belt Mine than some here keep on questioning.

“Asia Metals Inc., announced today that it has received the second installment of $9 Million, per its joint venture agreement with Qiangda Investments & Economics & Co., Ltd., for the large scale expansion of the Company's mining operations in the state of Guerrero, Mexico. 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 was received in October 2018 earning a 6% equity interest in the Company, a $9 million minimum payment in 2019 to earn a further 10% interest, a $10 millionminimum 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 has been 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.”

https://www.prnewswire.com/news-releases/asia-metals-inc-receives-9-million-second-tranche-of-34-million-joint-venture-funding-300971749.html

“QIEC is a holding company and facilitating subsidiary of an Asian conglomerate. Its operational objective is to secure physical gold supplies for it affiliates’ manufacturing demand and to build an investment hedge that mitigates the risk of instabilities caused by fluctuations in markets and world economic conditions. In 2018, QIEC signed an agreement committing $34 million allocated over a 3-year period to earn-in a maximum 40% equity interest in the Company. The investment funds were dedicated to the expansion of the Company’s gold production and property exploration operations in Guerrero, Mexico. To date per the agreement, QIEC has disbursed $24 million and earned a 28% interest in the Company. AABB jointly operates a management committee with representatives of QIEC to oversee, approve and direct budgeting, capital expenditures and decision-making regarding operational processes and expenditures.”

https://apnews.com/press-release/globe-newswire/business-corporate-news-latin-america-and-caribbean-north-america-mexico-19dc25d15f0b734b7488d8f286978b80

“Asia Metals Inc., announced today that the Company has completed the sale of its mineral property and mining operations facilities in the Guerrero Gold Belt (GGB), Mexico, to Joint Venture Partner, Qiangda Investments & Economics Co. Ltd. (QIEC). The principle consideration terms of the sale agreement have been delivered and included a $52 million cash payment, a $30 million transfer of gold bullion and an assignment of a 28% equity interest back to the Company. Additionally, all of the operational controls and authorities of the property and facilities have been transferred to the new ownership’s designated management personnel.”

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