LAS VEGAS, July 18, 2019 /PRNewswire/ -- Asia Broadband Inc. (OTC: AABB) today highlighted the fact that gold reached a new six-year high yesterday following Fed Chairman Jerome Powell's speech in Paris. The Federal Reserve reported yesterday that the U.S. economy is growing at a "modest" pace. Gold prices responded by increasing to a new six-year high boding well for the AABB outlook as the company continues to develop a proven gold reserve.
AABB Confirms 2019 $5 Million Minimum Gross Profit Projection
AABB yesterday confirmed management's $5 Million annual gross profit projection. Last week the company announced it will report over $2.7 million in gross profit through the second quarter of 2019. Based on the performance through the first half of 2019, management anticipates a minimum $5 Million annual gross profit for 2019 in total. The company's growth is coming from its wholly owned subsidiary Asia Metals, Inc. and continued growth acceleration is anticipated from its ongoing mining operations. Profits have increased 2000% since 2017.
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.
Forward-Looking Statements are contained in this press release within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the Asia Broadband Inc.'s (the "Company") expected current beliefs about the Company's business, which are subject to uncertainty and change. The operations and results of the Company could materially differ from what is expressed or implied by the statements made above when industry, regulatory, market and competitive circumstances change. Further information about these risks can be found in the annual and quarterly disclosures the Company has published on the OTC Markets website. The Company is under no obligation to update or alter its forward-looking statements as future circumstances, events and information may change.
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SOURCE Asia Broadband Inc.
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