Palm Beach, FL – August 22, 2023 – FinancialNewsMedia.com News Commentary – Gold prices don’t typically move in line with prices of other financial assets, like stocks. That’s why gold is often considered a safe haven investment asset for your portfolio. The stability of gold can serve as a hedge against inflation and mitigate the negative effects of market downturns. During and immediately prior to a recession, more people tend to buy gold because of its intrinsic value as other investment assets, like stocks and bonds, are more likely to lose value. Gold can gain in value as more investors buy it to protect their portfolios.  A report from Money.com said “that Gold’s price has climbed in 2023 and was up as much as 9% for the year in April. As of the end of June, the price is up around 4% year to date, sitting near $1,920 per ounce. The rise has been attributed to rising interest rates and stock market volatility, as well as instability in the banking sector. Buying gold during an economic slowdown is an age-old trend because, unlike other investment options like stocks, the value of gold tends to rise as investors seek safe haven assets.  Past performance is no guarantee of how the price of gold will perform in the future, so no one can be certain where the price will go from here. However, demand for safe haven assets may continue to be elevated for the foreseeable future.  When the U.S. is politically and economically stable, the dollar strengthens, pushing the demand for precious metals like gold lower. Conversely, an unstable socioeconomic environment weakens the dollar and prompts investors to seek stability in gold and other precious metals, which pushes gold rates upward.”  Active Companies in the markets today include Asia Broadband Inc. (OTCPK: AABB), Orla Mining Ltd. (NYSE: ORLA) (TSX: OLA), i-80 GOLD CORP. (NYSE: IAUX)  (TSX: IAU), Alamos Gold Inc. (NYSE:AGI) (TSX:AGI), B2Gold Corp. (NYSE: BTG) (TSX: BTO).

Money.com article continued: “Some economists believe this trend has been taking place this year amid congressional disagreements about federal spending and high inflation. The failures of Silicon Valley Bank, Signature Bank and First Republic Bank may have also shook investor confidence in fiat currency (currency that isn’t backed by a hard asset like gold). Some experts say these events have pushed people away from the dollar and encouraged them to buy more gold.  Gold’s appeal as a safe haven asset could be positive for its price in the near term. The upcoming U.S. presidential election next year, stubbornly high inflation and the threat of a potential recession on the horizon could push more investors to seek out relatively safe, low-risk investments like gold.”

Asia Broadband Inc. (OTCPK: AABB) BREAKING NEWS – Asia Broadband Receives Second Delivery of New Plant Equipment For Large-Scale Gold & Silver Ore Stockpile Processing Following Manufacturers Visits In China –  Asia Broadband Inc. (“AABB” or the “Company) is pleased to announce that the Company has received a second major delivery of processing equipment for its new facility site in Etzatlan, Mexico. Additionally, installation preparations have been ongoing subsequent to the Company receiving its initial deliveries of processing plant machinery and mineral analysis laboratory equipment in recent months.

To view AABB processing equipment videos & pictures go to:

https://twitter.com/AsiaBroadband/status/1686842848363343872?

https://twitter.com/AsiaBroadband/status/1686850303927386114?

https://twitter.com/AsiaBroadband/status/1686851971364622336?

The progress towards completion of the new plant facility follows the Company’s meetings and facility tours several months ago with mining processing manufacturers in China.  During the visits with Liming Heavy Industry Science & Technology Co. Ltd. and Mecru Heavy Industry Technology Co. Ltd. in Zhengzhou, Henan, China, the Company verified and secured the shipments and deliveries of additional processing equipment for the new plant in Mexico. Furthermore, the trip to China allowed AABB’s management to embrace and utilize the opportunity to establish and expand its relationships with mining industry and various other business contacts.

To view AABB videos of the manufacturer visits in China, go to:

https://www.youtube.com/watch?v=mVdo7hgjtgE

AABB’s management and technical consultants are expediting the construction of the new processing facility and have set a 3^rd quarter 2023 completion timeline to achieve full operations. The new plant will utilize advanced mining equipment automation and efficiencies to maximize processing throughput and metals extraction and minimize the production costs. Additionally, the new facility will be built with expanded processing capability that will be implemented after the initial production levels have been established. The processing facility will also have a mineral assay and strategic analysis laboratory on site that will reduce costs and supply rapid mineral results reports. The lab will allow the Company to select the highest grade ore for processing to efficiently maximize plant revenues.

In December 2022, AABB completed the land purchase for the site of the new processing facility to be constructed with respect to the terms of the historic and long-term processing and production agreement signed previously for a large-scale gold and silver ore stockpile located in Las Jimenez, Etzatlan, Jalisco, Mexico. The agreement allows the Company exclusivity to purchase the 4 million ton ore stockpile at an economically feasible price point. A recent evaluation report has estimated the stockpile to represent over $ 800 million in total gold and silver value. The stockpile processing project is the largest high-yield asset addition for the Company to date in its strategic expansion initiative to acquire gold production and increase AABB’s physical gold holdings.

The 4.94 hectare processing plant land parcel, that includes a water concession, is located approximately 5.8 miles from the ore stockpile in Etzatlan, Mexico, and 48 miles from the AABB Buenavista mining warehouse. The new facility build-out is budgeted for a $3 million cost and is initially planned to have a 200 ton per day (tpd) processing capacity.  At this first level of processing, the mill is estimated to generate over $11 million in revenue annually. The Company will also be accelerating a mill expansion installation to increase the processing capacity 5 fold to 1,000 tpd, once the initial processing level of the mill is consistently at capacity.

“We have taken substantial steps forward to create our new processing plant in a very short period of time, since our trip to China. Our whole group is highly motivated and excited to have the new production operations going this year,” expressed Chris Torres, AABB President and CEO.  CONTINUED…  Read this full release for Asia Broadband at:  https://www.financialnewsmedia.com/news-aabb/

Other recent developments in the mining markets include:

Orla Mining Ltd. (NYSE: ORLA) (TSX: OLA) recently announced the results for the second quarter ended June 30, 2023.

Second Quarter 2023 Highlights Were: Gold production was 29,058 ounces and gold sold was 29,773 ounces (pre-released, July 12, 2023). Year to date gold production is 54,968 ounces. The Company remains on track to meet 2023 annual gold production guidance of 100,000 to 110,000 ounces; All-in sustaining costs (“AISC”) of $698per ounce of gold sold during the second quarter 2023. Year to date AISC is $696per ounce of gold. AISC guidance for the full year 2023 has been reduced to a range of $700 to $800 per ounce of gold sold from the original guidance of $750to $850 per ounce; Adjusted earnings for the second quarter was $14.0 million or $0.05 per share; Net income for the second quarter was $12.8 million or $0.04 per share which included $7.2 million in expensed exploration and development costs; Cash flow from operating activities before changes in non-cash working capital during the second quarter was $22.4; At June 30, 2023, the Company had a cash balance of $114.5 million, an increase of $30.7 million during the quarter, and a net debt balance of $20.4 million; Advancement of exploration activities across the portfolio which continued to generate strong results, most notably at Camino Rojo where significant results have been returned from infill drilling of the Sulphides mineral resource, on extension of the Sulphides mineralization, and in the regional exploration program where the first visible gold outside of the Camino Rojo deposit was encountered; and During the quarter, Agnico Eagle partially exercised its top-up right for proceeds of C$25 million.

 i-80 GOLD CORP. (NYSE: IAUX)  (TSX: IAU) recently reported its operating and financial results for the three and six months ended June 30, 2023. i-80’s Consolidated Interim Financial Statements (“financial statements”), as well as i-80’s Management’s Discussion and Analysis of Operations and Financial Condition (“MD&A”) for the three and six months ended June 30, 2023, are available on the Company’s website at www.i80gold.com, on SEDAR at www.sedar.com, and on EDGAR at www.sec.gov.

“In the second quarter we continued to develop and completed “proof of concept” mining on multiple zones at the Granite Creek mine, completed the acquisition of Paycore Minerals to further consolidate the Eureka District, negotiated an Ore Sale and Purchase agreement for oxide mineralization and recently completed an equity raise to bolster the Company’s balance sheet,” stated Ryan Snow, Chief Financial Officer of i-80. “We continue to generate revenue from the Lone Tree and Ruby Hill residual leach programs as we advance exploration and definition drilling at Granite Creek, McCoy-Cove and Ruby Hill. With the additional capital raise, we will continue to advance i-80’s projects towards our ultimate goal of building a mid-tier Nevada focused producer.”

Alamos Gold Inc. (NYSE:AGI)  (TSX:AGI) recently reported its financial results for the quarter ended June 30, 2023.  “We delivered a record performance in the second quarter on multiple fronts. Operationally, we produced a record 136,000 ounces, exceeding quarterly guidance, at costs consistent with annual guidance. This was driven by another excellent quarter from La Yaqui Grande which contributed to the highest production and free cash flow from the Mulatos District in more than 10 years. With the solid first half, we are well positioned to achieve our full year production and cost guidance,” said John A. McCluskey, President and Chief Executive Officer.

“The strong production growth and margin expansion led to a record quarter financially across a number of metrics including record revenue and operating cash flow. We also generated record free cash flow of $62 million while continuing to advance our growth initiatives that will in turn support further free cash flow growth. The Phase 3+ Expansion at Island Gold remains on track with construction of the shaft surface infrastructure well underway, and the updated Feasibility Study for the Lynn Lake project is in the final stages of completion. Both projects are key components of our strong outlook, with the capacity to nearly double our rate of production in Canada at significantly lower costs,” Mr. McCluskey added.

B2Gold Corp. (NYSE AMERICAN: BTG) (TSX: BTO) recently announced its operational and financial results for the second quarter of 2023. All dollar figures are in United States dollars unless otherwise indicated.

2023 Second Quarter Highlights Were: Total gold production of 262,701 ounces in Q2 2023, in-line with expectations for the quarter: Total gold production of 262,701 ounces, including 16,740 ounces of attributable production from Calibre Mining Corp. (“Calibre”). The Fekola Mine produced 152,427 ounces in the quarter, benefitting from a favorable mine phasing sequence in the second quarter, with Phase 6 of the Fekola pit providing high-grade ore to the process plant. All B2Gold operations are on track to meet or exceed annual production guidance ranges; Total consolidated cash operating costs of $667 per gold ounce sold in Q2 2023, below the annual guidance range: Total consolidated cash operating costs (see “Non-IFRS Measures”) (including estimated attributable results for Calibre) of $667 per gold ounce sold during the quarter. Consolidated cash operating costs from the Company’s three operating mines of $639 per gold ounce sold. Total consolidated all-in sustaining costs of $1,214 per gold ounce sold in Q2 2023, below the midpoint of the annual guidance range: Total consolidated all-in sustaining costs (see “Non-IFRS Measures”) (including estimated attributable results for Calibre) of $1,214 per gold ounce sold. Consolidated all-in sustaining costs from the Company’s three operating mines of $1,210 per gold ounce sold. Attributable net income of $0.06 per share; Adjusted attributable net income of $0.07 per share in Q2 2023: Net income attributable to the shareholders of the Company of $80 million ($0.06 per share); adjusted net income (see “Non-IFRS Measures”) attributable to the shareholders of the Company of $86 million ($0.07 per share). Operating cash flow before working capital adjustments of $199 million in Q2 2023: Cash flow provided by operating activities before working capital adjustments was $199 million in the second quarter of 2023.Robust financial position: At June 30, 2023, the Company had cash and cash equivalents of $506 million and working capital (defined as current assets less current liabilities) of $570 million.

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