#Canada #Vancouver #financial results #New Pacific Metals #Silver Sand

New Pacific Metals Reports Financial Results for Q1 2026

New Pacific Metals Corp., based in Vancouver, has disclosed its financial performance for the three months ending September 30, 2025. In this quarter, the company experienced a reduced net loss compared to the same period last year, as key strategic moves set the stage for future growth.

Highlights of Q1 Fiscal 2026

On October 21, 2025, New Pacific completed a bought deal financing, raising approximately CAD $40.4 million (about $28.8 million) from the sale of 11,385,000 common shares at CAD $3.55 each. This financing was essential for supporting ongoing projects and operations. Raymond James Ltd. led the transaction, ensuring a solid backing from a consortium of underwriters.

In line with these developments, the company appointed Mr. Jalen Yuan as Chief Executive Officer and Mr. Chester Xie as Chief Financial Officer on October 23, 2025. Both had been serving as interim executives since April 2025, and their official appointments reflect the company’s commitment to stable leadership as it navigates its growth trajectory.

Financial Overview

Net Loss

New Pacific reported a net loss of $0.75 million or $0.00 per share for the three months ending September 30, 2025. This marks an improvement over the net loss of $1.26 million or $0.01 per share recorded in the same quarter of the previous year.

Working Capital

As of September 30, 2025, the company’s working capital stood at $14.88 million. The management attributed the lower operating expenses of $1.32 million for the quarter (down from $1.61 million in the previous year) to effective cost control measures.

Investments

Income from investments saw a slight decrease to $0.11 million compared to $0.25 million from the previous year. However, a foreign exchange gain of $0.46 million significantly contributed to the improved overall financial situation.

Project Expenditure Analysis

The expenditures related to New Pacific’s various projects have been detailed as follows:

• - Silver Sand Project: Incurred total expenditures of $0.51 million in the latest quarter, a marginal decrease from $0.52 million in the corresponding quarter last year.
• - Carangas Project: Expenditures fell to $0.17 million this quarter from $0.36 million previously.
• - Silverstrike Project: Allocated $0.02 million in expenditures, slightly down from $0.03 million.

These figures reflect the strategic allocation of resources towards advancing New Pacific’s key projects, including the flagship Silver Sand project, which is positioned to become one of the largest silver mines globally.

Outlook and Future Plans

The company continues to focus on its strategic projects in Bolivia, which include high-potential assets like the Silver Sand and Carangas projects. New Pacific is dedicated to enhancing its operational efficiency and maximizing shareholder value.

In the coming months, it will emphasize exploring further funding opportunities and project developments. Leadership changes, including the role of Jalen Yuan and Chester Xie, are expected to play a crucial role in steering New Pacific towards its growth ambitions.

For more detailed financial information, stakeholders are encouraged to review the company’s consolidated financial statements and management’s discussion and analysis, available on SEDAR+ and the company's website.

Contact Information

For media inquiries, please reach out to:
Peter Lekich
VP Investor Relations
New Pacific Metals Corp.
Phone: (604) 633-1368 Ext. 223
Email: [email protected]

Conclusion

New Pacific Metals Corp. is on a promising path with its recent financial improvements and strategic leadership appointments. Keeping a close watch on the operational developments will be critical for investors and industry stakeholders focused on the cobalt-silver landscape, particularly as the company aims to fulfill its potential in the mining sector.