AABB - Asia Metals Assay Results Bolster $0.24 Research Analyst Peer Valuation
2 October 2019
LAS VEGAS, Oct. 2, 2019 /PRNewswire/ -- Asia Broadband Inc. (OTC: AABB), through its wholly owned subsidiary Asia Metals Inc., today highlighted the recently published Research Analyst Report that included a peer valuation indicating a speculative price-per-share value of AABB stock of $0.24 over the next twelve months. The company highlights the peer valuation after the company yesterday announced the initial results of the 2019 Phase II Drill Program being conducted in close proximity to the Company's gold mine in Guerrero, Mexico*. The results published yesterday bolster the recent peer valuation. The peer valuation is part of a comprehensive research analyst report published yesterday by Goldman Small Cap Research.
The first drilling stage of the Phase II Program was completed in August 2019 on the Company's concessions in the La Coloradas area and consisted of 10 holes to an average depth of 445 meters (m) and 4,458 (m) in total were drilled. The focal point of the results were significant gold mineralization intersections in multiple drill holes. The most prominent gold value intersections were 5.2 meters (m) graded at 11.6 grams per ton (g/t), 5.6 meters (m) graded at 10.1 grams per ton (g/t) and 15.1 meters (m) graded at 6.8 grams per ton (g/t).
As the Company continues accelerating its mining operations expansion activities in 2019, several additional assay results are expected to be released from the ongoing $4M Phase II Exploration and Development Program. The 20,000 (m) drilling campaign is targeting areas in extended proximity to the Company's mine in Guerrero, Mexico, to further delineate the known historical and new gold vein structure.
Asia Broadband Inc. (OTC: 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.
* The PR yesterday with the drill results can be viewed here. The PR referred to the results as a confirmation of a "reserve." To further clarify the nature of the goldmine on which the tests were conducted, the use of the word "reserve" is intended to communicate a "probable" reserve, not a "proved" reserve. Further drill tests are underway.
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.
SOURCE Asia Broadband Inc.