Vancouver, Kelowna and Delta, British Columbia--(Newsfile Corp. - July 27, 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.
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.
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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., 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. 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., 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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