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New Pacific Metals

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New Pacific Metals is an exploration development company focused on silver mining, with its flagship property being the Silver Sand project located in Bolivia.

Investor website: https://www.newpacificmetals.com/

About

New Pacific Metals is an exploration development company focused on silver mining, with its flagship property being the Silver Sand project located in Bolivia. The company is backed by two major silver producers and is committed to sustainable practices and community engagement.

Verified company data

Cash position
US$41.2 M
Shares outstanding
184 M
Fully diluted shares
190 M
Mineral resource
New Pacific Metals Reports an updated Mineral Resource Estimate for the Silver Sand Deposit, Bolivia – Increases Silver Ounces in Measured and Indicated Mineral Resources by 30%. The effective date of the 2022 Mineral Resource Estimate for Silver Sand is 31 October 2022. The cut-off applied for reporting the pit-constrained Mineral Resources is 30 g/t silver. Assumptions made to derive a cut-off grade included mining costs, processing costs and recoveries and were obtained from comparable industry situations. The model is depleted for historical mining activities. Mineral Resources are constrained by optimized pit shells at a silver price of US$22.50 per ounce, silver metallurgical recovery of 91%, silver payability of 99%, open pit mining cost of US$2.6/t, processing cost of US$16/t, G&A cost of US$2/t, and slope angle of 44-47 degrees. Key assumptions used for pit optimization for the PEA mining pit include silver price of US$22.50 per ounce, silver metallurgical recovery of 91%, silver payability of 99%, open pit mining cost of US$2.6/t, incremental mining cost of US$0.04/t (per 10 m bench), processing cost of US$16/t, tailing storage facility operating cost of US$0.7/t, G&A cost of US$2/t, royalty of 6.00%, mining recovery of 92%, dilution of 8%, and cut-off grade of 30 g/t silver.
Projects
["Silver Sand Project\n\nNew Pacific’s flagship property is its Silver Sand project in Bolivia.\n\n[**Learn More** →](https://www.newpacificmetals.com/silver-sand-project)\n\n[Silver Sand Technical Report (Amended on June 3, 2020)](https://www.newpacificmetals.com/s/719020-New-Pacific-Silver-Sand-NI-43-101-Technical-Report-Amended-3-June-2020_SEDAR-copy.pdf)\n\n[Silver Sand Technical Report (January 16, 2020)](https://www.newpacificmetals.com/s/Tech-report.pdf)\n\n[Silver Sand Technical Report (August 15, 2017)](https://www.newpacificmetals.com/s/Silver-Sand-Technical-Report-Update_August-15-2017-Final.pdf)\n\nRecent Highlights\n\n- **July 2017**– Acquired the Silver Sand project for US$40 million\n- **October 2017**– Received drill permits, started 30,000 metre drilling program\n- **November 2017**– Announced strategic private placement with Pan American Silver\n- **2018**– Drilling program expanded to 50,000 metres. Results expected soon\n\nGeology\n\nFive significant mineralization zones have been identified, with Zone 1’s mineralization extending **over 1,600 m long, almost 80 m wide and over 350 m deep**.\n\n> “One of the takeaways that I had from the project is that I think the project is a lot bigger than New Pacific thinks it is”\n>\n> – [Peter Megaw, co-founder of MAG Silver Corp](https://www.newpacificmetals.com/articles-and-links/geologist-peter-megaws-golden-touch-in-his-search-for-district-scale-mines)\n\n> “We believe the Silver Sand project has the potential to be a district scale silver project that could attract a potential buyout in the next few years.”\n>\n> – [Joe Reagor, analyst at ROTH Capital Partners](https://www.newpacificmetals.com/articles-and-links/2018/3/11/bolivian-property-offers-potential-to-be-a-district-scale-silver-project)\n\nBacked by strategic partners\n\nOur largest shareholders are **Silvercorp Metals**, the largest primary silver producer in China, and **Pan American Silver**, the world’s second largest primary silver producer, which operates the San Vicente mine in Bolivia.","Silverstrike Project\n\nThe Silverstrike Project, at an elevation of 4,000 to 4,500 metres (“m”), is located approximately 140 kilometres (“km”) southwest of La Paz, Bolivia or approximately 450 km northwest of New Pacific’s Silver Sand Project.\n\n[**Learn More →**](https://www.newpacificmetals.com/silverstrike-bolivia)\n\n**Technical information contained in this website has been prepared, reviewed and approved by Alex Zhang, P. Geo., Vice President of Exploration, who is a Qualified Person for the purposes of NI 43-101.**","RZY Project\n\nThe RZY Project, located in Qinghai, China is an early stage silver-lead-zinc exploration project, situated on a high plateau with an average elevation of 5,000 metres above sea level. The RZY Project is located approximately 237 kilometres via paved and gravel roads from the city of Yushu Tibetan Autonomous Prefecture, or 820 kilometres via paved highway from Qinghai Province’s capital city of Xining. In 2016, the Qinghai Government issued a moratorium which suspended exploration for twenty six mining projects including the Company’s RZY project in the region and classified the region as a National Nature Reserve Area.\n\nSubsequent to June 30, 2019, the Company’s subsidiary, Qinghai Found, reached a compensation agreement with the Qinghai Government for the RZY project. Pursuant to the compensation agreement, Qinghai Found will surrender its title of the RZY project to the Qinghai Government for one-time cash compensation of $3.8 million (RMB ¥20 million). The process is expected to be completed in Fiscal 2020."]
Leadership
Jalen Yuan (CEO, Corporate leader and professional accountant with over sixteen years of diverse international experience in the mining industry. Previously served as Chief Financial Officer of the Company since 2015.), Chester Xie (CFO, Professional accountant with nearly a decade of diverse international experience in financial reporting, auditing, internal control, and accounting. Joined the Company in 2023 as Financial Controller.), Alex Zhang (Vice President, Exploration, Professional geoscientist with more than 30 years of experience in mineral exploration, having worked on major projects in China, Canada, and Bolivia.), Carolina Ordoñez (Vice President, Corporate Affairs, Over 15 years of experience in the resource sector as a liaison between Governments, Corporations, and Investors, fluent in English and Spanish.), Hianny Romero (Vice President, Bolivia Operations, Strategic financial and operational executive with over a decade of leadership experience in Bolivia's mining operations.), Dickson Hall (Chairman of the Board of Directors, Over 40 years of experience in finance and corporate development, with a strong emphasis on the mining sector.), Paul Simpson (Director, Vancouver-based corporate securities and mining lawyer with over 25 years’ experience advising public companies.), Maria Tang (Director, Over 20 years of experience in accounting with a focus on the mining industry, currently President and CFO of HempNova LifeTech Corp.), Martin Wafforn (Director, Mining engineer with more than 35 years of experience in the mining industry, currently Senior Vice President at Pan American Silver.), Myles Gao (Director, Seasoned geologist and mining executive with senior leadership positions in various mining companies, currently Chief Technical Officer of Zijin Mining International Operations.)

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