Asia Broadband Inc (OTCMKTS:AABB) Stock On Watchlist After Recent News

Following a key new announcement yesterday, it might be a good time for investors to consider taking a look at the Asia Broadband Inc (OTCMKTS:AABB) stock this morning.

Trading Data

On Thursday, AABB stock fell 2.44% to $0.0400 with more than 8.7 million shares, compared to its average volume of 10.29 million shares. The stock moved within a range of $0.0399 – 0.0412 after opening trade at $0.0401.               

Asia Broadband Nears Completion of Geological Technical Report for Tequila Gold Mine Project in Mexico

The company was in the news after it announced on Thursday that it was expecting the completion of the geological technical report for the Tequila Gold Mine Project in the upcoming weeks. The mine in question is situated in the Tequila region located in Mexico. Asia Broadband added that the report is now in the concluding stages and the whole thing is being overseen by a qualified professional.

It should be noted that the company had expected the report to be delivered earlier but later on Asia Broadband agreed to expand the process of evaluation owing to new mineral indications that had been discovered at the mine. Once the report is submitted, the geological and mining operations teams are going to use the report for maximizing the exploration process.

The reason why this is such an important development for the company is because of the fact that the Tequila Gold Project is a potentially high-yielding project for Asia Broadband. It remains to be seen if the stock moves any time soon.

Technical Data

AABB stock is trading below the 20-Day and 50-Day Moving averages of $0.0476 and $0.0544 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0876.