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New Pacific Metals Corp. (OTCQX: NUPMF) announced its approval to list on the NYSE American under the symbol 'NEWP', effective May 20, 2021. The company will continue trading on the OTCQX until May 19, 2021. CEO Dr. Mark Cruise stated that this listing marks a significant milestone, aimed at enhancing visibility and liquidity to expand the investor base and advance the Silver Sand Project, located in Bolivia. New Pacific will also maintain its listing on the TSX under the symbol 'NUAG'.
New Pacific Metals Corp. reported its interim financial results for Q3 and YTD ending March 31, 2021. The company achieved a working capital of $59.98 million, enabling the advancement of the Silver Sand Project and regional exploration. A PEA is 65% complete. Despite a net loss of $2.15 million for the quarter and $5.97 million for the nine months, income from investments increased. The company acquired a 98% interest in the Carangas Silver Project, with a drill program planned for 2021, highlighting growth potential in its portfolio.
New Pacific Metals Corp. has signed an agreement to acquire a 98% interest in the Carangas silver project in Bolivia, covering 100% of exploration and development costs. The project spans 6.25 square kilometers and is located in a historically rich silver mining district. Highlights include sampling results with grades up to 512 g/t silver. The company plans a 5,000-meter diamond drill program scheduled for 2021. The agreement has a 30-year term with a 15-year renewal option, bolstering New Pacific's position as a prominent player in the Latin American precious metals market.
New Pacific Metals Corp. has released its financial results for Q2 FY2020, reporting a net loss of $2.32 million for the three months ending December 31, 2020, compared to a loss of $1.60 million in the prior year. The Company maintains a strong working capital of $62.79 million to support its Silver Sand Project. The ongoing Silver Sand Preliminary Economic Analysis is 50% complete. Additionally, the Company has successfully completed the spin-out of Whitehorse Gold Corp., realizing an $8.86 million value for shareholders.
New Pacific Metals Corp announced the successful approval of all shareholder items at its annual general and special meeting held on September 30, 2020. A total of 152,310,111 common shares, equating to 56.9% of votes, were represented. Key voting outcomes included the election of directors receiving over 99% approval and the distribution of common shares of Whitehorse Gold Corp, which also garnered high shareholder support. Additionally, shareholders approved the Whitehorse Financing and the re-appointment of Deloitte LLP as auditors. More information will be filed on SEDAR and the Company's website.
New Pacific Metals reported promising exploration results at its Silverstrike Project in Bolivia. Highlights include:
- 1,865 g/t Ag and 0.96% Pb over 2.0 m
- 1,665 g/t Ag, 0.43% Pb, and 1.42% Cu over 2.0 m
The 2,751 samples collected suggest excellent potential for high-grade silver and base metals. The project is strategically located in the historical Berenguela Mining District, and detailed geological mapping has identified multiple mineralized zones.
