On Wednesday, Asia Broadband Inc (OTCMKTS:AABB) came up with a key announcement with regards to its plans for the Bonanza Gold Mine Project in Nayarit, Mexico. The company announced yesterday that as per the recommendation in the certified geological technical report made by a qualified professional person, Asia Broadband decided to move forward with the exploration and development activities at the project.
Market Action
On Wednesday, AABB stock slumped 4.78% to $0.0319 with 5.92 million shares, compared to volume of 8.53 million shares. The stock moved within a range of $0.0306 – 0.0340 after opening trade at $0.0335.
Asia Broadband Resource Report Development Program Progresses at the Bonanza Gold Mine Project in Mexico
In addition to that, the company also announced that the initial mineral resource estimate pertaining to silver and gold at the property exceeded $10 million combined when valued in terms of current spot precious metal prices. The geological and mining operations personnel at Asia Broadband had utilized the report for maximizing the resource expansion program at the site.
The Bonanza property has consistently revealed high grade gold assay results from the drilling initiatives and the recent samples. The latest announcement from the company was a significant one and it is going to be interesting to see if its leads to any major move in the Asia Broadband stock over the course of the coming days. It was also noted by the company that it had continued to deploy its strategy to acquire mining properties in order to bring about growth.
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