Asia Broadband Sets Production Expansion Timeline for the Tequila Gold Mine Project in Mexico
LAS VEGAS, May 04, 2022 (GLOBE NEWSWIRE) — Asia Broadband Inc. (OTC: AABB) (“AABB” or the “Company”) is pleased to announce that the Company has set the completion timeline for its facilities retrofit production upgrade on its mining property in the Tequila region of Mexico. The Company expects theupgrade program to be complete with an additional 50 tons per day (tpd) production capacity available within 6 months. At that time, the mill capacity will be 100 tpd and double the current processing limit of 50 tpd. Additionally, the Company is planning a large-scale expansion of its
production and processing facilities to begin installation later this year. Utilizing the advances in mining equipment automation and efficiency, the larger scale facilities will have significantly increased throughput and metals extraction. The added production volume at a lower cost per ton is
expected to have a substantial impact on the Company’s gross profit margin going forward.
“The completion of our production facilities retrofit at Tequila will double our production and also add extraction efficiencies. We are excited to reach that point because it will provide the platform to plan and build out a large-scale expansion to our processing plant,” stated Chris Torres, the
Company President and CEO.
Further to the Tequila property, the Company is expecting to receive a geological assessment report in the coming weeks prepared by a qualified professional person. The report will allow the Company to maximize its exploration, development and resource expansion program as well as facilitate production efficiencies and planned processing equipment upgrades and additions.