New Pacific Metals Reports Financial Highlights and Future Prospects
New Pacific Metals Reports Financial Overview
New Pacific Metals Corp. (NASDAQ: NEWP) recently released its financial results for the most recent fiscal year. This update highlights the Company’s significant advancements in exploration, investments, and operational performance. All presented figures are in U.S. dollars unless specified otherwise.
Summary of Fiscal Year Achievements
The Company conducted a detailed assessment of its key projects, marking substantial progress for the year. Among the highlights is the independent National Instrument 43-101 (NI 43-101) Pre-Feasibility Study for the Silver Sand Project. This study indicated a remarkable post-tax net present value (NPV) of $740 million based on a 5% discount rate, which is bolstered by an internal rate of return (IRR) of 37% at a base price for silver.
Project Milestones
Through a rigorous analytical framework, New Pacific's Silver Sand project showcased an anticipated production of approximately 157 million ounces (Moz) of silver, projected over a 13-year mine lifespan at a remarkably low all-in sustaining cost of $10.69 per ounce. Furthermore, the Company is making strides on its Carangas Project, having released its initial NI 43-101 mineral resource estimate, which revealed total indicated mineral resources comprising 214.9 million tonnes containing 205.3 Moz of silver and significant quantities of other precious metals.
Recent Financial Results
For the fiscal year ending June 30, 2024, New Pacific reported a net loss attributable to equity holders of $6.02 million, translating into a loss of $0.04 per share. This was an improvement from the previous year’s net loss of $8.10 million. The financial performance reflects efficient cost management despite heightened operational expenses associated with project development and exploration.
Operational Costs and Investments
During the last quarter, operating expenses totaled $1.53 million, while for the entire fiscal year, these expenses reached $6.94 million. Contrary to the prior year, where operating expenses were higher, the Company utilized its resources effectively, positioning itself for future growth. Income from investments also saw a notable increase to $1.06 million from $0.18 million over the same period last year, indicating improved financial returns on strategic investments.
Project Expenditure and Strategy
New Pacific continues to allocate its expenditures strategically across its core projects. For Silver Sand and Carangas, the Company reported capitalized expenditures of $3.21 million and $1.79 million for the year, respectively. These efforts underline the Company's commitment to advancing its exploration and development goals, ensuring compliance with evolving industry standards.
Future Prospects and Development Directions
As New Pacific looks ahead, the integration of feedback from recent project developments will shape its exploration strategies. The completion of the Silver Sand Pre-Feasibility Study reinforces the Company's dedication to turning its vision into reality, as it aims for a Preliminary Economic Assessment for the Carangas Project moving forward.
About New Pacific Metals
New Pacific is a Canadian exploration and development company that focuses on precious metals, specifically silver, in the mining sector. With three significant projects, including the flagship Silver Sand, the Company is positioned to become a leader in silver mining. Their innovative approach and dedication to advancing exploration make them a compelling entity in today’s market.
Contact Information
For any inquiries or further details regarding New Pacific Metals Corp., please reach out to:
Andrew Williams, CEO
New Pacific Metals Corp.
Phone: (604) 633-1368 Ext. 236
1750 – 1066 Hastings Street, Vancouver, BC V6E 3X1, Canada
U.S. & Canada toll-free: 1 (877) 631-0593
Frequently Asked Questions
What does New Pacific Metals Corp. focus on?
New Pacific Metals primarily focuses on the exploration and development of precious metals, particularly silver.
What are the significant projects of New Pacific Metals?
The major projects include the Silver Sand, Carangas, and Silverstrike projects.
What was New Pacific's recent financial performance?
The Company reported a net loss of $6.02 million for the fiscal year 2024 but saw improvements compared to the previous year.
How does New Pacific intend to move forward?
The Company aims to continue developing its projects with a focus on turning the Silver Sand Project into a leading silver producer.
Who can I contact for more information about New Pacific Metals?
Interested parties can contact Andrew Williams, the CEO, for more information about the Company's operations and prospects.
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