#Canada #Vancouver #New Pacific Metals #Silver Sand #Carangas

New Pacific Metals Provides Financial Results Overview

New Pacific Metals Corp. recently disclosed its financial performance for the third and sixth months ending December 31, 2024. The report indicates a net loss of $0.74 million for the quarter and $2.00 million for the half-year, resulting in loss per share of $0.00 and $0.01, respectively. This marks a notable improvement compared to the same periods in 2023, where losses stood at $1.52 million and $3.27 million, equating to $0.01 and $0.02 per share.

Breakdown of Financial Results

The financial results were influenced primarily by operating expenses, which amounted to $1.59 million for the last quarter and $3.20 million during the half-year. This is a decrease from the previous year's $1.82 million and $3.69 million, indicating a trend of lowering costs.

In terms of investment income, the Company reported earnings of $0.19 million and $0.44 million for the quarter and half-year, respectively. Although this is lower compared to $0.28 million and $0.30 million for the same periods last year, the foreign exchange gains significantly boosted the financial standing. The Company enjoyed forex gains of $0.64 million for the quarter and $0.74 million for the half-year, an increase from $0.02 million and $0.07 million from 2023.

Looking at the working capital, as of December 31, 2024, the Company reported $17.63 million. Such financial backing is vital as it provides a cushion for upcoming operational activities.

Project Expenditures Overview

In addition to its net losses, New Pacific detailed its expenditures across key projects. The Silver Sand project continued to require significant capital input, with total costs incurred amounting to $0.42 million for the quarter and $0.94 million for the half-year. This is a slight rise compared to the same period last year, where costs were around $0.41 million and $1.38 million respectively.

The Carangas project also saw a capital expenditure of $0.39 million for the quarter and $0.75 million for the half-year, reflecting increased financial commitment toward this venture. In contrast, expenditures for the Silverstrike Project remained comparatively low, registering at $0.01 million for both periods.

Conclusion

Despite net losses and the pressures of the financial landscape, New Pacific Metals appears to be prudently managing its costs while strategically investing in significant projects, especially in Bolivia. The optimism surrounding the Silver Sand and Carangas projects suggests potential for future returns as the mining landscape evolves. The Company’s management discussion and analysis, along with their audited consolidated financial statements, are available on their website, providing further insights into their financial strategies and outlook.

As the Company navigates these challenges, stakeholders will be keen to see how these financial results will impact their broader strategies and project advancements in the coming quarters.