Las Vegas, Nevada--(Newsfile Corp. - September 24, 2020) - Asia Broadband Inc. (OTC Pink: AABB), through its wholly owned subsidiary Asia Metals Inc., confirmed today that the Company is in the process of scheduling, finalizing and booking the production and financial results for the upcoming third quarter ending September 30, 2020, with the expectation of recording a historic high quarter. Utilizing the new production facilities that began operating early this year, Q3 will be the first full quarter of production to capitalize on the new higher daily throughput levels and metals extraction efficiencies. AABB is anticipating a three-fold increase in gold production levels in 2020 from the Company's added operational capacity.
Furthermore, recent economic conditions have created strong and unprecedented fundamentals for gold producer equities. The economic volatility, uncertainty and inflationary effects of the Coronavirus pandemic have launched gold and gold producers into a significant growth phase. Additionally, the recent decline of the oil market has elevated the gold-to-oil ratio to all time highs indicating lower production costs and increased profit margins for gold producers. Based on the preliminary results being finalized for the 3rd quarter of 2020, AABB is updating its annual gross profit budget and is projecting it to exceed $14 million in 2020.
Asia Broadband Inc. (OTC Pink: AABB), through its wholly owned subsidiary Asia Metals Inc., is a resource company focused on the production, supply and sale of precious and base metals, primarily to Asian markets. The Company utilizes its specific geographic expertise, experience and extensive industry contacts to facilitate its innovative distribution process from the production and supply of precious and base metals in Guerrero, Mexico, to our client sales networks in Asia. This vertical integration approach to sales transactions is the unique strength of Asia Broadband and differentiates the Company to its shareholders.
Contact the Company at:
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Phone: 702-866-9054
Parkin Investor Relations
Kevin Parkin
Forward-Looking Statements are contained in this press release within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the Asia Broadband Inc.'s (the "Company") expected current beliefs about the Company's business, which are subject to uncertainty and change. The operations and results of the Company could materially differ from what is expressed or implied by the statements made above when industry, regulatory, market and competitive circumstances change. Further information about these risks can be found in the annual and quarterly disclosures the Company has published on the OTC Markets website. The Company is under no obligation to update or alter its forward-looking statements as future circumstances, events and information may change.
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