Asia Broadband Inc – (AABB): AABB displays wild upside ripping potential
From Journal Transcript
Asia Broadband Inc – (AABB)
AABB is our new profile and chance to get December kicked off in solid fashion. We think AABB has potential to be even bigger. Here are some key technicals and stats to pay attention to:
- 14-Day Relative Strength Index (42.39%)
- 5-Day Exponential Moving Average (EMA) trading above 13-Day EMA
- StockTA’s Moving Average Convergence Divergence trend analysis claims AABB shows bullish short-term tops and bottoms (a comparison of the last 3 high and low prices).
- StockTA is also signalling a potential “Stochastic Oversold Reversal” may be in the cards for AABB after doing their Stochastic Analysis.
Before Friday where it traded flat, AABB had closed up from its opening valuation for 6 straight sessions.
Barchart says AABB has a 10-8 Day Moving Hilo Channel and 20-Day Bollinger Bands moving in a bullish “Direction.”
Last week, AABB found resistance at the $.025 level before opening up on Friday and closing at $.0265. With that level of prior resistance in the rear view mirror, it could now become strong support for a potential move towards previous highs.
On August 27th, AABB opened at a valuation of $0.0478 and hit a high of $0.1029 (115% intraday).
According to Asia Broadband Inc’s, website: Asia Metals Inc., is a wholly owned subsidiary of Asia Broadband Inc., and is a resource company focused on the production, supply and sale of precious and base metals primarily to Asian markets. 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 our client sales networks in Asia. This vertical integration approach to sales transactions is the unique strength of Asia Broadband and differentiates the Company to its shareholders.
Asia Broadband’s most recent press release paints the picture of a company on the move as AABB’s subsidiary, Asia Metals Inc., has put together record quarters back to back:
Asia Metals Inc. Posts Consecutive Record Sales Quarters
LAS VEGAS, Nov. 16, 2018 /PRNewswire/ — Asia Broadband Inc. (OTC: AABB), through its wholly owned subsidiary Asia Metals Inc., posted the Company’s third quarter sales, which marked the highest quarter sales results achieved to date and surpassed the record sales from the second quarter. Precious and base metal production and sales for the third quarter have reached their highest levels in the history of the Company.
“Q2 was a record sales quarter for us and we have now surpassed that benchmark in Q3. I’m really proud of the team effort to have achieved a record-breaking quarter despite the extensive efforts required to close our joint venture funding and begin a drill program. We had more equipment additions and facility improvements in Q3 that further enhanced our production processing efficiency. Also, the consistent efforts of our business development team, with their tremendous relationships forged throughout Asia, have continued to make a strong impact on our bottom-line and drive the success of the Company,” stated James Gilbert, the Company President and CEO.
Asia Broadband Inc. (OTC: AABB), through its wholly owned subsidiary Asia Metals Inc., is a resource company focused on the production, supply and sale of precious and base metals, primarily to Asian markets. 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 Guerrero, Mexico, to our client sales networks in Asia. This vertical integration approach to sales transactions is the unique strength of Asia Broadband and differentiates the Company to its shareholders.
Full PR: https://www .prnewswire. com/news-releases/asia-metals-
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Additionally, a press release from late October reports on an agreement to secure a seriously massive amount of capital to help expand the company’s mining operations:
Asia Metals Inc. Secures $34M Joint Venture and Receives $5M First Tranche
LAS VEGAS, Oct. 24, 2018 /PRNewswire/ — Asia Broadband Inc. (OTC: AABB), through its wholly owned subsidiary Asia Metals Inc., has signed a definitive joint venture agreement for the large scale expansion of the Company’s mining operations in the state of Guerrero, Mexico, with Qiangda Investments & Economics & Co., Ltd.. The agreement guarantees a $34M capital commitment allocated over a 3 year period on a time-lined payment schedule to earn-in a maximum 40% equity interest in the Company. The schedule consists of a $5M initial payment that has now been received earning a 6% equity interest, a $9M minimum payment in 2019 to earn a further 10% interest, a $10M minimum payment in 2020 to earn a further 12% interest and a $10M minimum payment in 2021 to earn a further 12% interest. The joint venture capital will be allocated specifically to expand the identified resources within the Asia Broadband properties and build out a new production processing facility with greater efficiency and capacity, but also includes provisions for new exploration expenditures. The operating terms include identifying Asian Metals Inc. as the manager of the joint venture and the forming of a management committee with representatives from both parties to oversee, approve and direct budgeting, capital expenditures and decision-making regarding operational processes and expenditures.
Qiangda Investments & Economics & Co., Ltd., is a holding company and facilitating subsidiary of a Chinese owned conglomerate entity. Its operational objective is to secure physical gold supplies for it affiliates’ manufacturing demand and to build an investment hedge that mitigates the risk of instabilities caused by fluctuations in markets and world economic conditions.
“We are exuberant at this point. The diligent work by everyone in the Company over the past 4 months has resulted in us reaching our most significant milestone to date. With a major source of committed capital backing our facilities and drill program expansions, many more milestones will be reached as we continue to grow going forward,” declared James Gilbert, the Company President and CEO.
