VANCOUVER, BC, Sept. 3, 2025 /PRNewswire/ – New Pacific Metals Corp. (“New Pacific” or the “Company”) reports its financial results for the three months and year ended June 30, 2025. All figures are expressed in US dollars unless otherwise stated.
FISCAL 2025 HIGHLIGHT
- The Company filed an independent Preliminary Economic Assessment technical report for its Carangas Project (the “Carangas PEA Technical Report”) on November 15, 2024. The Carangas PEA Technical Report is effective September 5, 2024 and was independently prepared by RPMGlobal Limited (“RPMGlobal”) in accordance with National Instrument 43‐101 ‐ Standards of Disclosure for Mineral Projects (“NI 43‐101”). Highlights of the Carangas PEA Technical Report are as follows:
- Post‐tax net present value (“NPV”) (5%) of $501 million and internal rate of return (“IRR”) of 26% at a base case price of $24.00/ounce (“oz”) silver, $1.25/pound (“lb”) zinc, and $0.95/lb lead;
- 16‐year life of mine (“LOM”), excluding 2‐years of pre‐production, producing approximately 106 million oz (“Moz”) of payable silver, 620 million lbs (“Mlbs”) of payable zinc and 382 Mlbs of payable lead;
- Initial capital costs of $324 million and a post‐tax paybacks of 3.2 years;
- Average LOM all‐in sustaining cost (“AISC”) of $7.60/oz silver, net of by‐products; and
- Approximately 500 direct permanent jobs to be created from the Carangas Project.
- The Company has taken steps to address the presence of artisanal and small-scale miners (“ASMs”) in areas of the Silver Sand Project since 2023. On June 25, 2025, through a formal judicial resolution process in Bolivia, the Departmental Court of Justice of La Paz granted an amparo (a constitutional protection action) (the “Amparo”) to the Company that provides the Silver Sand Project with immediate and long-term protection against any kinds of encroachment and illegal mining activities. Since July 1, 2025, the ASMs’ have stopped their mining activities and withdrawn from the Silver Sand Project area and the Company has successfully regained access to the area and established a temporary camp. Survey and inspection work has been performed in the area to measure the extent of the impact of the ASMs’ activities on the Silver Sand Project’s mineral resources, preliminary results indicate the mineralized material extracted is not material.
- On August 30,2025, the Carangas community discussed the economic, environmental, and social impacts of the Carangas Project to their community during their community assembly meeting. At the end of the meeting, the Carangas community voted in favor of the Carangas Project and the presence of the Company in the community area to carry out permitting and development activities as a whole.
- On April 15, 2025, the Company appointed Mr. Jalen Yuan as interim Chief Executive Officer (“CEO”), and Mr. Chester Xie as interim Chief Financial Officer (“CFO”).
FINANCIAL RESULTS
Net loss attributable to equity holders of the Company for the three months and year ended June 30, 2025 was $0.89 million and $3.76 million or $0.01 per share and $0.02 per share, respectively (three months and year ended June 30, 2024 – net loss of $1.48 million and $6.02 million or $0.01 and $0.04 per share, respectively). The Company’s financial results were mainly impacted by the following items:
- Working Capital: As of June 30, 2025, the Company had working capital of $16.17 million.
- Operating expenses for the three months and year ended June 30, 2025 was $1.42 million and $5.98 million respectively (three months and year ended June 30, 2024 – $1.53 million and $6.94 million, respectively).
- Income from investments for the three months and year ended June 30, 2025 was $0.13 million and $0.79 million, respectively (three months and year ended June 30, 2024 – $0.32 million and $1.06 million, respectively).
- Gain on disposal of property, plant and equipment for the three months and year ended June 30, 2025 was $nil and $nil, respectively (three month and year ended June 30, 2024 – $nil and $0.05 million, respectively).
- Provision for credit loss for the three months and year ended June 30, 2025 was $nil and $nil, respectively (three months and year ended June 30, 2024 – $0.27 million and $0.27 million, respectively).
- Foreign exchange gain for the three months and year ended June 30, 2025 was $0.39 million and $1.41 million, respectively (three month and year ended June 30, 2024 – $(0.01) million and $0.08 million, respectively).
PROJECT EXPENDITURE
The following schedule summarized the expenditure incurred by category for each of the Company’s projects for relevant periods:
|
Cost |
Silver Sand |
Carangas |
Silverstrike |
Total |
|
Balance, July 1, 2023 |
$ 86 135 820 |
$ 18 137 910 |
$ 4 862 942 |
$ 109 136 672 |
|
Capitalized exploration expenditures |