Welcome to our dedicated page for New Pac Metals news (Ticker: NEWP), a resource for investors and traders seeking the latest updates and insights on New Pac Metals stock.
New Pacific Metals Corp. reports developments for a Canadian exploration and development company focused on precious metals projects in Bolivia. Its recurring updates center on the Silver Sand silver project in Potosí and the Carangas silver-gold project in Oruro, including permitting activity, community agreements, project work plans, mineral-property spending and Bolivian mining context.
The company also reports interim financial results, bought deal financing activity, annual shareholder meeting results, board and executive appointments, and other governance matters. Its common shares trade on the TSX under NUAG and on the NYSE American under NEWP.
New Pacific Metals Corp. (NYSE American: NEWP) announced the filing of an independent Preliminary Economic Assessment (PEA) for its Silver Sand project in Potosi, Bolivia, effective November 30, 2022. The assessment, prepared under NI 43-101 standards, suggests a post-tax Net Present Value (NPV) of US$726 million and an Internal Rate of Return (IRR) of 39% based on a projected silver production of 171 million ounces over 14 years. The report involves several Qualified Persons from AMC Mining Consultants and Halyard Inc. and is accessible on SEDAR, EDGAR, and the company’s website.
New Pacific Metals Corp. (NYSE American: NEWP) reported its financial results for Q2 FY2023, ending December 31, 2022. The company posted a net loss of $1.87 million ($0.01 per share), compared to a loss of $1.30 million in the same quarter the previous year. Major highlights include a preliminary economic assessment (PEA) for the Silver Sand Project, indicating a net present value (NPV) of $726 million and an internal return rate (IRR) of 39%. Working capital stood at $14.4 million, enabling continued exploration of key projects. Operating expenses increased to $1.93 million from $1.36 million year-over-year.
New Pacific Metals Corp. (NEWP) has released assay results from the 2022 drill program at its Carangas Silver-Gold Project in Bolivia. The results cover 42 additional drill holes, indicating broad silver mineralization across a significant area, with 41 of the holes showing promising results. Highlights include drill hole DCAr0075, which reported a 230.26 m interval grading 146 g/t silver. The inaugural mineral resource estimate is expected later this year, aligning with the positive findings confirming the continuity of mineralization over a substantial area.
New Pacific Metals Corp. has appointed Andrew Williams as President, effective immediately. Williams will manage corporate development initiatives and investor relations, while supporting project development and growth. He joins from Sun Valley Gold LLC, bringing over 15 years of mining investment experience. Williams plans to contribute significantly to the company's Silver Sand and Carangas projects in Bolivia. He will also invest C$250,000 in New Pacific shares at a 10% discount, with additional subscription from newly elected director Dickson Hall, totaling C$300,000. The share purchase is subject to Toronto Stock Exchange approval.
New Pacific Metals Corp. (NYSE: NEWP) announced assay results from four deep drill holes at its Carangas Silver-Gold Project in Bolivia. A total of 50,368 m was drilled in 2022, with results from 43 holes released. Notable intercepts include hole DCAr0094, with a 504.62 m gold interval grading 1.22 g/t Au and 13 g/t Ag. The company plans to drill an additional 15,000 m in Q1 2023 to expand gold mineralization and will conduct a resource estimate in Q2 2023. New Pacific's rigorous quality control measures ensure the reliability of the results, as verified by its qualified personnel.
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.