In an additional article , Goldman Sachs added: "The yellow metal typically only guards against very high inflation and large inflation surprises caused by losses in central bank credibility and geopolitical supply shocks. Gold usually didn't perform well in response to positive demand shocks when the central bank responded swiftly by hiking rates. Gold emerged as the best commodity to serve as a potential hedge against inflation and geo-political risks. Goldman Sachs Research's base case is that gold appreciates to $2,700/troy ounce by year-end, an increase of about 16%, on solid demand from central banks in emerging markets and from Asian households. Gold could help shield against potential stock market drops if a trade war erupts, and it has upside if concerns mount about the US debt load or if the Fed is subordinated by a new administration."
Asia Broadband Inc. (OTCPK: AABB) Gold Production Continues Upward Trend For Third Quarter, As Ore Stockpile Processing Plant Advances Towards Completion - Asia Broadband Inc. ("AABB" or the "Company) is pleased to announce that the Company's operations for the 3rd quarter ending September 30, 2024, will be completed next week and production levels have already surpassed the second quarter. The Company has exceeded its production and gross profit levels achieved in both the 1st and 2nd consecutive record quarters this year. Gold production more than doubled in the 1st quarter of 2024, in comparison to the 4th quarter of 2023, due to higher grade selection, recovery efficiencies and increased daily throughput levels. Additionally, the economies of scale from higher productions levels reduced production costs and added to the bottom-line gross profit, which has continued in an upward trend over the last three quarters.
The elevated operational strategies and efficiencies of the AABB mining team continued in the 3rd quarter and has firmly established the foundation for the high production levels to follow the completion of the Company's processing plant. The new facility is currently under construction in Etzatlan, Mexico, and its capacity will be primarily dedicated to processing the estimated $1 billion dollar ore value of the Company's exclusive rights surface stockpile. AABB continues to develop the processing plant and will release updates as progress milestones are reached. The Company will release a processing plant project update in October.
"The elevation of our production processes by the mining operations team in all three quarters of this year will have a multiplier effect with increased production levels. We are eagerly awaiting to extend this expertise to our massive ore stockpile processing when the new plant is complete. This will take us to a much higher level than we have ever reached before," expressed Chris Torres, the Company President and CEO.
AABB continues to implement its mining property acquisition strategy to optimize development capital utilization by focusing operations in regions of Mexico where AABB has a comparative advantage of development resources and expertise readily available for rapid expansion and duplication of the Company's previous gold production success. CONTINUED… Read this full release for Asia Broadband at: https://www.financialnewsmedia.com/news-aabb/
Other recent developments in the mining industry include:
Barrick Gold Corporation (NYSE: GOLD) recently said it is projecting a 30% growth in the production of gold-equivalent ounces from its existing assets by the end of this decade while it continues to unlock the value embedded in its portfolio, says president and chief executive Mark Bristow.
Speaking at the Gold Forum Americas , Bristow said while Barrick was alert to potentially value-accretive opportunities generated by the consolidation of the industry, it had the rare luxury of doing so from an asset base that would support organic growth well into the future.
"Five years ago, we set out to build a sustainably profitable gold and copper business focused on world-class assets. We did not have to buy them at a premium: they were embedded in the merged portfolio of Barrick and Randgold and we just had to unlock their value," he said.
Kinross Gold Corporation (NYSE: KGC) recently provided an update on the Great Bear project (the "Project"), located in Red Lake, Ontario, Canada. Kinross has completed a Preliminary Economic Assessment( PEA) for the Great Bear project which supports the Company's acquisition thesis of a top tier high-margin operation in a stable jurisdiction with strong infrastructure. Based on mineral resources drilled to date, the PEA outlines a high-grade combined open pit and underground mine with an initial planned mine life of approximately 12 years and production cost of sales of $594 per ounce. The Project is expected to produce over 500,000 ounces per year at an all-in sustaining cost (AISC) of approximately $800 per ounce during the first 8 years through a conventional, modest capital 10,000 tonne per day (tpd) mill.
Kinross has also released an updated mineral resource estimate increasing the inferred resource estimate by 568koz. to 3.884 Moz. which is in addition to the existing M&I resource estimate of 2.738 Moz. The mineral resource estimate and PEA for the Great Bear project are available here .
Equinox Gold Corp. (NYSE American: EQX) recently announced an updated Mineral Resource Estimate ("MRE") for its 100% owned, exploration-stage Hasaga Property ("Hasaga" or the "Property") in Red Lake, Ontario.
"Hasaga is located in the Red Lake Gold District of northwestern Ontario, which is renowned for its high gold grades and prolific historical gold production. This updated Mineral Resource Estimate focuses on the high-grade nature of the gold mineralization and is a departure from the previous bulk-tonnage approach," stated Scott Heffernan, EVP Exploration of Equinox Gold. "As expected, the updated Mineral Resource Estimate contains fewer gold ounces but at significantly higher average gold grades.
"Further, the main zones of gold mineralization included in the updated Mineral Resource Estimate remain open, with numerous historical gold intersections defining drill-ready targets highlighting the potential for resource growth and new discoveries."
IAMGOLD Corporation (NYSE: IAG) recently announced that the Côté Gold Mine ("Côté Gold" or "Côté") has reached commercial production. Côté Gold is located in Ontario, Canada and is operated as a joint venture between IAMGOLD, as the operator, and Sumitomo Metal Mining Co., Ltd. ("Sumitomo"). Commercial production is defined as the achievement of reaching a minimum of 30 consecutive days of operations during which the mill operated at an average of 60% of nameplate throughput of 36,000 tpd.
"I would like to commend our teams at Côté Gold who have come together to achieve another great milestone as we progress and ramp up what we believe will be one of Canada's largest gold mines and a model for modern mining in Canada," said Renaud Adams, President and Chief Executive Officer of IAMGOLD. "Since achieving the first pour of gold on March 31, 2024, our teams have spent the last four months methodically and iteratively testing and ramping up all facets of the mine. This process has required remarkable commitment, ingenuity and teamwork to bring all the systems online together to achieve this milestone."
About FN Media Group:
At FN Media Group, via our top-rated online news portal at www.financialnewsmedia.com, we are one of the very few select firms providing top tier one syndicated news distribution, targeted ticker tag press releases and stock market news coverage for today's emerging companies. #tickertagpressreleases #pressreleases
Follow us on Facebook to receive the latest news updates: https://www.facebook.com/financialnewsmedia
Follow us on Twitter for real time Market News: https://twitter.com/FNMgroup
Follow us on Linkedin: https://www.linkedin.com/in/financialnewsmedia/
DISCLAIMER: FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM has been compensated forty five hundred dollars for news coverage of the current press releases issued by Asia Broadband Inc. by a non-affiliated third party. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.
Contact Information:
Media Contact email: editor@financialnewsmedia.com - +1(561)325-8757
SOURCE: FN Media Group
View original content: 
View original content: 
Figure 1: Mulga Bill long section looking west
Figure 2: Plan view of the north end of Mulga Bill
