Silvercorp details New Pacific Metals (NEWP) ownership structure

Rhea-AI Filing Summary

New Pacific Metals Corp. received an updated ownership report on its common shares as of December 31, 2025. The filing shows that Silvercorp Metals Inc. beneficially owns 51,426,988 common shares, representing 28.0% of the outstanding class, with sole voting and dispositive power over these shares.

Fortune Mining Limited is reported as beneficially owning 36,512,442 shares, or 19.8%, and Victor Resources Ltd. beneficially owns 34,873,742 shares, or 19.0%, each with sole voting and dispositive power and no shared power.

The comments clarify that Victor Resources is wholly owned by Fortune Mining, and Fortune Gold Mining Limited is a wholly owned subsidiary of Fortune Mining. As a result, Silvercorp Metals Inc. reports beneficial ownership of all shares held directly or indirectly through these subsidiaries.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 3)

New Pacific Metals Corp.

(Name of Issuer)

Common share without par value

(Title of Class of Securities)

64782A107

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 64782A107

1

Names of Reporting Persons

Silvercorp Metals Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

BRITISH COLUMBIA, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 51,426,988.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 51,426,988.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

51,426,988.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

28.0 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

CUSIP No. 64782A107

1

Names of Reporting Persons

Fortune Mining Limited

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

VIRGIN ISLANDS, BRITISH

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 36,512,442.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 36,512,442.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

36,512,442.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

19.8 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

CUSIP No. 64782A107

1

Names of Reporting Persons

Victor Resources Ltd.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

VIRGIN ISLANDS, BRITISH

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 34,873,742.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 34,873,742.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

34,873,742.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

19.0 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: New Pacific Metals Corp.
(b)	Address of issuer's principal executive offices: SUITE 1750, 1066 W. HASTINGS STREET, VANCOUVER, A1 V6E 3X1
Item 2.
(a)	Name of person filing: (i) Silvercorp Metals Inc. (ii) Fortune Mining Limited (iii) Victor Resources Ltd.
(b)	Address or principal business office or, if none, residence: (i) 1066 West Hastings Street Suite 1750 Vancouver BC Canada V6C 3X1 (ii) Craigmuir Chambers Road Town Tortola VG1110 BVI (iii) Craigmuir Chambers Road Town Tortola VG1110 BVI
(c)	Citizenship: (i) Canada (ii) British Virgin Islands (iii) British Virgin Islands
(d)	Title of class of securities: Common share without par value
(e)	CUSIP No.: 64782A107
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: (i) Silvercorp Metals Inc.: 51426988 (ii) Fortune Mining Limited: 36512442 (iii) Victor Resources Ltd.: 34873742
(b)	Percent of class: (i) Silvercorp Metals Inc.: 28.0 (ii) Fortune Mining Limited: 19.8 (iii) Victor Resources Ltd.: 19.0
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: (i) Silvercorp Metals Inc.: 51426988 (ii) Fortune Mining Limited: 36512442 (iii) Victor Resources Ltd.: 34873742
	(ii) Shared power to vote or to direct the vote: (i) Silvercorp Metals Inc.: 0 (ii) Fortune Mining Limited: 0 (iii) Victor Resources Ltd.: 0
	(iii) Sole power to dispose or to direct the disposition of: (i) Silvercorp Metals Inc.: 51426988 (ii) Fortune Mining Limited: 36512442 (iii) Victor Resources Ltd.: 34873742
	(iv) Shared power to dispose or to direct the disposition of: (i) Silvercorp Metals Inc.: 0 (ii) Fortune Mining Limited: 0 (iii) Victor Resources Ltd.: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.	Certifications:
	Not Applicable

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Silvercorp Metals Inc.

Signature:	/s/ Rui Feng
Name/Title:	Rui Feng / Chairman and CEO
Date:	02/12/2026

Fortune Mining Limited

Signature:	/s/ Rui Feng
Name/Title:	Rui Feng / Director
Date:	02/12/2026

Victor Resources Ltd.

Signature:	/s/ Rui Feng
Name/Title:	Rui Feng / Director
Date:	02/12/2026

Comments accompanying signature: The beneficial ownership reported herein reflects the parent/subsidiary structure. Victor Resources is wholly owned by Fortune Mining, and Fortune Gold Mining Limited is a wholly-owned subsidiary of Fortune Mining. Accordingly, Silvercorp Metals Inc. reports beneficial ownership of all shares held directly or indirectly through its subsidiaries.

Exhibit Information

Exhibit 1 Joint Filing Statement among Silvercorp, Fortune Mining and Victor Resources (incorporated by reference to Exhibit 1 to Schedule 13G/A filed by Silvercorp Metals Inc., Fortune Mining Limited and Victor Resources Ltd. on February 14, 2023)

FAQ

What percentage of New Pacific Metals (NEWP) shares does Silvercorp Metals own?

Silvercorp Metals Inc. beneficially owns 28.0% of New Pacific Metals’ common shares. This corresponds to 51,426,988 shares with sole voting and sole dispositive power, giving Silvercorp significant influence over shareholder decisions without sharing control with other reporting persons.

How many New Pacific Metals (NEWP) shares does Fortune Mining Limited control?

Fortune Mining Limited beneficially owns 36,512,442 New Pacific Metals common shares. This represents 19.8% of the class, with Fortune holding sole voting and sole dispositive power over these shares, meaning it alone can vote and decide when or how to sell them.

What is Victor Resources Ltd.’s ownership stake in New Pacific Metals (NEWP)?

Victor Resources Ltd. beneficially owns 34,873,742 New Pacific Metals common shares. This equals 19.0% of the outstanding class, with sole voting and sole dispositive power, indicating Victor alone controls how these shares are voted and whether they are sold or retained.

How are Silvercorp, Fortune Mining, and Victor Resources related in this NEWP filing?

Victor Resources is wholly owned by Fortune Mining, and Fortune Gold Mining Limited is a wholly owned subsidiary of Fortune Mining. Because of this parent–subsidiary structure, Silvercorp Metals Inc. reports beneficial ownership of all shares held directly or indirectly through these subsidiaries.

What type of securities are covered in this New Pacific Metals (NEWP) Schedule 13G/A?

The Schedule 13G/A covers New Pacific Metals Corp. common shares without par value. The filing quantifies how many of these common shares are beneficially owned by Silvercorp Metals Inc., Fortune Mining Limited, and Victor Resources Ltd., along with their corresponding ownership percentages.

As of what date are the ownership figures for NEWP in this Schedule 13G/A reported?

All reported ownership figures are as of December 31, 2025. The filing states this as the event date requiring the statement, so the share amounts and percentages reflect beneficial ownership positions on that specific reporting date, not at an earlier or later time.