The Company expects to complete the negotiations and acquire a new gold mine
Asia Broadban, through its wholly owned subsidiary Asia Metals, announced that subsequent to completing assessments and due diligence focussed on several candidate gold mine acquisitions, the Company has initiated purchase negotiations.
The Company’s acquisition team recently completed additional property site visits in South and Central America with its mineral lands agent specializing in the Americas region, geological consultant to assess production profit potential and representatives from the Company’s Joint Venture Partner to analyze the expansion potential of each site location.
The Company expects to complete the negotiations and acquire a new gold mine and its surrounding property with high development potential in January 2020.
The Company’s new gold mine acquisition campaign is targeting properties that have historic gold production in South America, Central America and Mexico. The focus of the campaign is to duplicate the successful acquisition model of the Company’s existing high-density, shallow gold mine property in Guerrero, Mexico, that has known historical gold vein structures as AABB continues with its full-scale development and production expansion.
Source: Company Press Release