Welcome to our dedicated page for New Pacific Metals news (Ticker: NEWP), a resource for investors and traders seeking the latest updates and insights on New Pacific Metals stock.
New Pacific Metals Corp. (TSX: NUAG, NYSE American: NEWP) is a Canadian mining and metals company, located at 200 Granville St, Vancouver, British Columbia, Canada, focused on the exploration and development of precious metal properties in Bolivia. The Company's flagship project, the Silver Sand Project, is poised to become one of the world's largest silver mines. Their portfolio also includes the Carangas Silver-Gold Project and the Silverstrike Silver-Gold Project, both showcasing promising exploration potential.
New Pacific Metals Corp. has recently reported its financial results for the quarter ending March 31, 2024, detailing a net loss of $1.27 million. As of this date, the Company maintained a working capital of $23.67 million. The financial reports demonstrate a focused allocation of capital towards their key projects, with significant expenditures in the Silver Sand and Carangas projects.
Recent Achievements: Notably, the Company has made substantial advancements in its Silver Sand Project, including a successful metallurgical test program that confirmed the exceptional properties of the deposit. The test outcomes support the upcoming Preliminary Feasibility Study (PFS), expected by mid-2024, which will highlight the project’s economic and developmental potential. The Carangas Project is also progressing with a Preliminary Economic Assessment (PEA) set for mid-2024, aiming to outline its conceptual economics.
New Pacific's exploration strategy is underpinned by strong partnerships with major industry players. Silvercorp Metals Inc. and Pan American Silver Corp. are among its top shareholders, providing strategic support. The Company engages internationally recognized consulting firms for technical assessments, ensuring compliance with rigorous industry standards.
Community and Environmental Commitment: The Company is committed to responsible mining practices, working closely with local communities and adhering to environmental regulations. They are actively involved in the Environmental Impact Assessment Studies for their projects and aim to coexist with artisanal miners in the region, fostering sustainable development initiatives.
New Pacific Metals Corp. continues to strengthen its position with a solid balance sheet, enabling ongoing exploration and development activities. For further information and updates, the Company encourages stakeholders to visit their website or contact their investor relations team.
New Pacific Metals Corp. has released a Preliminary Economic Assessment (PEA) for its 100% owned Silver Sand Project in Bolivia, showcasing robust economic indicators. The PEA highlights a pre-tax NPV of $1.1 billion at a silver price of $22.50/oz, with an impressive IRR of 52%. Over a 14-year mine life, the project is set to produce approximately 171 million ounces of silver, with initial capital costs estimated at $308 million. The study indicates a pathway to develop one of the world's largest silver mines, emphasizing significant benefits for stakeholders.
New Pacific Metals Corp. (NYSE American: NEWP) announced the results of its 2022 annual meeting of shareholders held on December 5, 2022. All matters presented were approved, with 121,349,139 shares (77.43%) represented. Notable outcomes included the election of directors: Dr. Rui Feng, Terry Salman, Martin Wafforn, Maria Tang, Dickson Hall, and Dr. Peter Megaw, each receiving over 99% approval. Deloitte LLP was re-appointed as auditors. The company welcomes new directors Dr. Megaw and Mr. Hall, while thanking outgoing directors Jack Austin and David Kong for their contributions.
New Pacific Metals Corp. has released an updated Mineral Resource Estimate for its Silver Sand Project in Bolivia, revealing significant findings. As of October 31, 2022, the estimated Measured and Indicated Mineral Resources increased by 30%, totaling 54.26 Mt at 116 g/t Ag for 201.77 Moz. The Preliminary Economic Assessment (PEA) is on track for completion in late 2022. The report highlights favorable mining conditions, with 95% of resources within 200 m of the surface, and strong metallurgical recovery rates. The exploration potential remains positive with known satellite mineral occurrences.
New Pacific Metals Corp. (NYSE American: NEWP) has filed a technical report titled Carangas Project Technical Report, effective June 16, 2022, as per NI 43-101 standards. This report is prepared by Donald J. Birak, a Qualified Person. The document is accessible on SEDAR, Edgar, and the company’s website. New Pacific is advancing its mineral projects in Bolivia, including a 40,000 m drill program at the Carangas Project and a 6,000 m discovery drill program at the Silverstrike Project. The company expects a Mineral Resource Estimate Update and PEA by the end of 2022.
New Pacific Metals Corp. (NYSE American: NEWP) announced significant assay results from its Carangas Silver-Gold Project in Bolivia. The drill program's findings revealed extensive gold mineralization beneath a shallow silver zone, with some intervals showing high-grade gold, including hole DCAr0049 reporting 591.85 m at 1.03 g/t Au. A total of 39,862 meters across 86 drill holes have been completed in 2022, with promising results indicating potential for further exploration. A geophysical survey correlating high gold tenors with chargeability anomalies will guide upcoming drilling efforts.
New Pacific Metals announced its financial results for the quarter ending September 30, 2022. The company reported a net loss of $2.09 million, up from $1.38 million in the prior year. Key operational highlights included significant drilling progress at the Silver Sand, Carangas, and Silverstrike projects, totaling over 57,000 m drilled. With working capital at $20.6 million, New Pacific is positioned to advance these exploration initiatives.
New Pacific Metals Corp. (NEWP) reported positive assay results from the second drill hole, DSSk0002, at the Silverstrike Project in Bolivia. This hole intersected 223.52 m grading 0.97 g/t gold and 4 g/t silver, including a notable interval of 3.98 m at 29.75 g/t gold and 23 g/t silver. In total, 10 holes have been drilled since June 2022, with assays for the remaining holes yet to be released. These findings extend a significant gold zone near the surface, indicating promising mineralization trends at Silverstrike.
New Pacific Metals Corp. (NEWP) reports assay results from 21 drill holes at its Carangas Silver-Gold Project in Bolivia, revealing significant near-surface silver mineralization. The drilling program, part of a 40,000 m initiative, has thus far completed 36,012 m across 76 holes, with assay results pending for 43 holes. Key highlights include a 163.04 m interval in hole DCAr0077 grading 109 g/t silver, among others. The project is anticipated to support an inaugural mineral resource estimate in 2023.
New Pacific Metals Corp. (NEWP) filed its fiscal 2022 annual report on Form 40-F with the U.S. SEC on September 28, 2022. The report includes the company's audited financial statements and management discussion. Key projects include the Silver Sand Silver Project, awaiting a new mineral resource estimate by year-end, and the Carangas Silver-Gold Project, which is undergoing a 40,000 m drill program. The Silverstrike Project has also commenced a 6,000 m discovery drill program.
New Pacific Metals Corp. (NYSE American: NEWP) announced the assay results of the final 53 drill holes from its 2022 drilling program at the Silver Sand Project. A total of 19,323 meters were drilled over 86 holes, aimed at enhancing mineral resource estimates. Results included significant silver grades, with the best intersection being 44.77 meters at 214 g/t Ag. A mineral resource estimate update is expected by October 2022, and the Preliminary Economic Assessment (PEA) is on track for completion by year-end.
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