InvestorWire – Asia Broadband Inc. (OTC: AABB) (“AABB” or the “Company”) is pleased to announce it has signed a Letter of Intent (LOI) to acquire an historic production gold mine property and on-site processing facilities in the prolific mining region of Mascota in Jalisco, Mexico. The 200-hectare property, located approximately 3 kms from the community of Navidad, has two mine sites, existing infrastructure and a 50-ton per day processing facility operating on 25 hectares of the property. The Company has been strategically broadening its initiative to acquire gold production and increase the AABB’s physical gold holdings.
In the coming weeks, the Company will be conducting further due diligence and continuing its negotiations to acquire the estimated $30 million property. All efforts are underway to accelerate this turnkey acquisition in order to rapidly advance AABB into production and begin an expansion program. The Company anticipates negotiating a definitive agreement to acquire the property in the very near future and will release additional location details, photos and mineralization information at that time.