#PreciousMetal #Stocks (OTC: AABB) (NYSE: AG) (NYSE:
GATO) (NYSEAmerican: ASM) Going for the #Gold and #Silver in #Mexico @AsiaBroadband
@FMSilverCorp @Avino_ASM @GatosSilver
Vancouver,
Kelowna, Delta, BC – July 28, 2023 - Investorideas.com, a leading
investor news resource covering precious metal and mining stocks releases a
special news report featuring Asia
Broadband Inc. (OTC: AABB) on precious metals
stocks operating in Mexico.
Read this article,
featuring AABB in full at https://www.investorideas.com/news/2023/mining/07281Precious-Metal-Stocks-Mexico.asp
The
global precious and base metals market is estimated to reach over USD
2300.88 billion by 2031, exhibiting a CAGR of 12.21% during the forecast
period.
Mexico
is the largest producer of silver in the
world and a top global producer of gold, copper and zinc, amongst other
minerals.
Asia Broadband Inc.
(OTC: AABB), a resource company
focused on the production, supply
and sale of precious and base metals, primarily to Asian markets, just announced the beginning of
the installation of a mineral testing lab on-site for gold & silver ore
stockpile processing in Mexico. Their new facility will reduce costs and supply
rapid mineral results reports.
From the news: The 4.94 hectare
processing plant land parcel, that includes a water concession, is located
approximately 5.8 miles from the ore stockpile in Etzatlan, Mexico, and 48
miles from the AABB Buenavista mining warehouse. The new facility build-out is
budgeted for a $3 million cost and is initially planned to have a 200 ton per
day (tpd) processing capacity. At this first level of processing, the mill is
estimated to generate over $11 million in revenue annually. However, the
Company will also be accelerating a mill expansion installation to increase the
processing capacity 5 fold to 1,000 tpd, once the initial processing level of
the mill is consistently at capacity.
“With
our own mineral testing lab on the facility site, we will have the ability to
choose the highest mineral concentration ore for processing to achieve the
greatest value throughput and maximum revenues. Essentially, the lab will let
us cherry-pick the highest grade ore in the stockpile to process first. This is
a major advantage to us in many ways and we are ecstatic about it,” stated
Chris Torres, AABB President and CEO.
Last
month the company also announced preliminary
mineral resource estimates of gold and silver values contained in the initial
technical report exceed $10 million at the current spot precious metal prices,
prior to the Company’s ongoing work programs.
The
company announced in May that it has been
diligently exploring new gold property acquisitions with high-grade production
potential in several regions of Mexico. The AABB mining group has conducted
numerous site visits to the top rated acquisition target properties and is
currently in the due diligence process of assessments and evaluations in
preparation for final purchase negotiations. The acquisition team is
exclusively focused on properties with the highest potential for rapid
expansion, high-grade production and low-cost operations that will maximize
gross profit contributions. The Company’s overall strategic capital expansion
initiative is to increase gold production and physical gold holdings to
accelerate the growth of the digital assets division.
According
to the company, when
differentiating from other miners in Mexico,”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 Mexico to client sales networks in Asia. This vertical
integration approach to sales transactions is the unique strength of AABB that
differentiates the Company and creates distinctive value for shareholders.”
First
Majestic Silver Corp. (NYSE: AG) (TSX: FR) (FSE: FMV), a
mining company with lead assets in Mexico, just announced that total
production in the second quarter of 2023 reached 6.3 million silver equivalent
("AgEq") ounces, consisting of 2.6 million silver ounces and 45,022
gold ounces. Approximately 94% of total production, or 6.0 million AgEq ounces,
was produced from the Company's three Mexican operations, the San Dimas, Santa
Elena and La Encantada mines. The Company's fourth operation, the Jerritt
Canyon mine in Nevada, USA, processed most of its remaining ore stockpiles and
work in process ("WIP") inventory throughout April and May and
produced 4,364 ounces of gold during its partial quarter.
From the news: In the first half
of 2023, the Company produced 5.2 million silver ounces and 105,616 gold
ounces, or approximately 14.0 million AgEq ounces. In the second half of 2023,
the Company is expecting to produce between 5.3 to 5.9 million silver ounces
and 86,000 to 95,000 gold ounces, or approximately 12.4 to 13.8 million AgEq
ounces, at an all-in sustaining cost ("AISC") range of $17.69 to
$18.92 per AqEq ounce.
From the news: As of April 24,
2023, all activities at the Jerritt Canyon processing plant were discontinued
following the Company's previously announced temporary suspension of mining
operations on March 20, 2023.
In
other mining in Mexico news, Avino Silver & Gold Mines Ltd. (TSX: ASM) (NYSE American: ASM) reported on July
20th
it had achieved production results of 587,317 silver equivalent ounces,
bringing the 12-month trailing total to 2.8 million silver equivalent ounces
from the Avino Mine.
From the news: "The Avino
Mine continued to provide stable production results in the second quarter of
2023, albeit impacted by mining in lower grade areas and certain mill equipment
delivery delays, which are now behind us," said David Wolfin, President
and CEO of Avino. "These challenges provided us with the opportunity to
implement upgrades to the haulage ramp that has since allowed us to exceed
original underground maximum haulage rates. With these upgrades, we expect
production to catch up to our internal guidance in the second half of the year.
On the exploration side, we are thrilled with the outstanding drill results
from below Level 17 released earlier this month which further demonstrates that
the Avino Mine continues to get better as we explore at depth. Finally, we remain
focused on the execution of our 5-year growth plan."
Avino currently controls mineral resources, as per NI 43-101,
that total 368 million silver equivalent ounces, within our district-scale land
package.
Gatos
Silver, Inc. (NYSE: GATO) (TSX: GATO), a silver
dominant exploration, development and production company that discovered a new
silver and zinc-rich mineral district in southern Chihuahua State, Mexico, on
July 18th provided a Q2 2023
update
on the drilling and exploration programs in the Los Gatos district (“LGD”) in
Mexico, including details of additional intercepts of high grade mineralization
in the South-East Deeps (“SE Deeps”) zone of its 70%-owned Cerro Los Gatos
(“CLG”) mine that could provide new mineral resources and reserves to extend
the mine life.
“Our
continued drilling success shows why we are so excited about the future for
this district,” said Dale Andres, CEO of Gatos Silver. “Our next mineral
resource and reserve update is nearing completion and will be a first step in
extending the mine life and showing the potential scale of SE Deeps. With six
surface drill rigs primarily focused on defining the SE Deeps, we are
continuing to intercept strong widths and grades of silver, zinc, lead, gold
and copper as we infill that zone. In addition, the foundational work we are
doing this year with our greenfields program is deepening our understanding of
the district and enabling us to sharpen our focus on priority areas where we
might find the next CLG.”
“Mexico,
being the top global producer of silver, has attracted both majors and juniors
the world over in hopes of new discoveries” says Resource World, in spite of some
of the new mining regulations and hurdles miners may face there.
So
for investors looking for the gold, there is always a ‘silver lining’ in Mexico
if they look for it.
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the mining and metals stocks free directory at Investorideas.com
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