iHub News
2週前
Safe and Stable: Bolivia Welcomes Foreign Investment and Transforms MiningToronto Stock Exchange confirms support for rigorous business strategyMay 21, 2026 2:55 AM
IH Market News Bolivia is putting up a welcome sign for foreign investors, and the Toronto Stock Exchange (TSX) recognized the milestone recently with its first-ever Bolivian visit.The TSX came to La Paz, Bolivia’s administrative capital, for a high-profile conference of business and finance leaders celebrating Bolivia’s growing capacity to attract and responsibly manage foreign investment.This article is disseminated in partnership with New Pacific Metals Corp. It is intended to inform investors and should not be taken as a recommendation or financial advice. Bolivia is actively restructuring its regulatory and financial frameworks, in a strategic bid to cultivate international capital markets and deliver economic benefits to the South American nation, its communities, and its people. Business in Bolivia: Safeguards and Security Bolivia is brimming with potential and ground-floor investment opportunities, finance and mining officials said during “Funding Opportunities on the Toronto Stock Exchange,” the conference sponsored by the TMX Group (owner of the TSX) and the Canadian Bolivian Chamber of Commerce.As Bolivia’s government welcomes investment, the partnership with the TSX, the historic exchange with deep roots in resource-sector financing, sends an obliging signal. Listed companies must comply with rigorous legal regulations and obligations, assuring investors that their money is safe, protected, and going toward its intended purpose.Projects in the mining sector, a key target of Bolivia’s plan, are making progress through the twin factors of investor confidence and access to capital. For example, New Pacific Metals considers itself a proud member of the companies now putting their stakes in business-friendly Bolivia.Headquartered in Vancouver, British Columbia, New Pacific Metals (AMEX:NEWP) is deeply invested in two Bolivian mining projects, currently in the technical work, development, and permitting phase. With the full participation of local and federal officials, both projects are poised to reach the permitted production phase as planned.International capital markets have the power to support advancement of responsible mining projects in Bolivia and deliver an economic boost to the regions where they operate, New Pacific Metals CEO Jalen Yuan told the conference audience.New Pacific’s projects are expected to generate more than $700 million for the economy, Yuan said. The benefits could accumulate into tens of billions of dollars as other companies, encouraged by a government delivering on its promises of regulatory predictability, obtain their own permits.Pantera Silver Corp. President and CEO Jay Roberge also served on the panel, representing another TSX-listed company keen on Bolivian mineral exploration and development. According to Roberge, Pantera has received strong local support in Bolivia, one of the high-potential regions where the company, though its silver discoveries, strives to create shareholder value while building positive and sustainable relationships with communities. Bolivian Mining, Transformed The TSX engagement symbolizes a new era in Bolivian mining.The government’s strategic steps are transforming the sector. It’s all part of a broader shift toward international capital integration, regulatory clarity, and long-term sector development.High international standards and greater transparency create safeguards and reestablish the nation as a competitive destination for global mining investment, according to the Bolivian Ministry of Mining and Metallurgy.Encouraging international investment and reaching out to international leaders in mining help secure Bolivia’s future, as the strategy coordinates the investments that promote exploration, employment, and Bolivia’s economic development.In joining forces with the TSX, the Bolivian government reinforces transparency and investor confidence by bringing globally recognized standards directly to Bolivian mining. For instance, companies listed on Canadian stock exchanges must comply with NI 43-101 Standards of Disclosure for Mineral Projects, reporting their scientific and technical information openly and accurately.The assurance of continuous reporting obligations, strong corporate governance, and governmental responsibility gives investors the confidence to pursue high-yield opportunities in Bolivia’s extensive but historically underdeveloped mining sector. Regulation: Building the Foundation for Sustainable Investment Regulatory improvement is the linchpin of Bolivia’s renewed business strategy. It’s not just about removing red tape. Bolivia’s foundation for a robust business environment institutionalizes access to capital, with financing mechanisms that are structured, predictable, and aligned with international expectations.In mining, this level of diligence is crucial to securing long-term capital commitments, stable operating environments, and – most important for project success – clear permitting and compliance processes.It’s all in Bolivia’s plan, which generates: Legal certainty for investors. Transparent and consistent policies. Competitive fiscal frameworks. Responsible and sustainable mining practices. Hands Across the Hemisphere The TSX entry onto the scene solidifies plans forged at PDAC 2026. There at the world’s premier mineral exploration and mining convention, Bolivia initiated its strategy to attract specialized investment by maximizing its geological potential, enhancing its mining prospects, and strengthening its regulatory framework.Bolivia is in a new stage of intensive exploration, Deputy Minister of Mining Policy, Regulation and Supervision Danile Velasco affirmed at the TSX funding opportunities conference.This phase strategically incorporates new technologies, junior companies, and financial tools. Paired with the government’s openness to foreign investment and the vote of confidence from the TSX, all signs point to the transformation of Bolivia’s rich geological potential into sustainable, productive projects that support long-term growth and economic prosperity.Sponsored Article: InvestorsHub.com Inc. dba The Market Link has been compensated CASH: $1091 by New Pacific Metals Corp. (AMEX:NEWP) for the publication and distribution of this content. This is not independent editorial content. For full compensation disclosure visit investorshub.advfn.com/boards/disclaimer.aspx Original: Safe and Stable: Bolivia Welcomes Foreign Investment and Transforms MiningToronto Stock Exchange confirms support for rigorous business strategy
US Market News
3週前
NEW PACIFIC REPORTS FINANCIAL RESULTS FOR THE THREE AND NINE MONTHS ENDED MARCH 31, 2026May 13, 2026 5:10 PM
PR Newswire (US) VANCOUVER, BC, May 13, 2026 /PRNewswire/ - New Pacific Metals Corp. ("New Pacific" or the "Company") reports its financial results for the three and nine months ended March 31, 2026. All figures are expressed in US dollars unless otherwise stated. FISCAL 2026 Q3 HIGHLIGHTOn February 23, 2026, the Company signed a Framework Agreement for Cooperation and Coordination (the "Agreement") with the Carangas community ("TIOC Carangas") in respect to the Carangas Silver–Gold project (the "Carangas Project"). The Agreement establishes a general framework of understanding and commitment between the Company and TIOC Carangas that reflects the shared intention to develop the Carangas Project based on transparency, fairness, mutual benefits, mutual respect, and long-term cooperation.FINANCIAL RESULTSNet loss attributable to equity holders of the Company for the three and nine months ended March 31, 2026 was $0.87 million or $0.0 per share and $3.20 million or $0.02 per share, respectively (the three and nine months ended March 31, 2025 – net loss of $0.86 million or $0.01 per share and $2.86 million or $0.02 per share, respectively). The Company's financial results were mainly impacted by the following items:Working Capital: As of March 31, 2026, the Company had working capital of $39.28 million.Operating expenses for the three and nine months ended March 31, 2026 were $1.58 million and $4.37 million, respectively (the three and nine months ended March 31, 2025 - $1.40 million and $4.56 million, respectively).Income from investments for the three and nine months ended March 31, 2026 were $0.29 million and $0.71 million, respectively (the three and nine months ended March 31, 2025 – $0.22 million and $0.66 million).Loss on disposal of plant and equipment for the three and nine months ended March 31, 2026 of $0.02 million (the three and nine months ended March 31, 2025 – $nil and $nil, respectively).Foreign exchange gain for the three and nine months ended March 31, 2026 was $ 0.44 million and $0.47 million, respectively (the three and nine months ended March 31, 2025 – $0.28 million and $1.02 million, respectively).PROJECT EXPENDITUREThe following schedule summarized the expenditure incurred by category for each of the Company's projects for relevant periods:CostSilver SandCarangasSilverstrikeTotalBalance, June 30, 2024$ 88,977,334$ 19,854,042$ 4,934,555$ 113,765,931Capitalized exploration expenditures
Reporting and assessment94,894190,352-285,246Drilling and assaying3426,7635,12512,230Project management and support1,155,235889,03437,8282,082,097Camp service179,873295,80417,033492,710Permit and license12,60647,818-60,424Value added tax not claimed109,08644,0202,046155,152Foreign currency impact51,49926,0183,05880,575Balance, June 30, 2025$ 90,580,869$ 21,353,851$ 4,999,645$ 116,934,365Capitalized exploration expenditures
Reporting and assessment765167,864-168,629Drilling and assaying--589589Project management and support1,161,287631,83539,4271,832,549Camp service619,285107,64616,196743,127Permit and license3,41232,174-35,586Acquisition of mineral concessions----Value added tax not claimed124,75415,361965141,080Foreign currency impact(275,390)(85,633)(19,244)(380,267)Balance, March 31, 2026$ 92,214,982$ 22,223,098$ 5,037,578$ 119,475,658SILVER SAND PROJECTFor the three and nine months ended March 31, 2026, total expenditures of $0.73 million and $1.91 million, respectively (three and nine months ended March 31, 2025 - $0.30 million and $1.23 million, respectively) were capitalized under the project.CARANGAS PROJECTFor the three and nine months ended March 31, 2026, total expenditures of $0.56 million and $0.95 million, respectively (the three and nine months ended March 31, 2025 - $0.41 million and $1.16 million, respectively) were capitalized under the project.SILVERSTRIKE PROJECTFor the three and nine months ended March 31, 2026, total expenditures of $0.01 million and $0.06 million, respectively (the three and nine months ended March 31, 2025 - $0.01 million and $0.05 million, respectively) were capitalized under the project.MANAGEMENT DISCUSSION AND ANALYSISThis news release should be read in conjunction with the Company's management discussion and analysis (the "MD&A") and the audited consolidated financial statements and notes thereto for the corresponding period, which have been filed with the Canadian Securities Administrators and are available under the Company's profile on SEDAR+ at www.sedarplus.ca, on EDGAR at www.sec.gov and on the Company's website at www.newpacificmetals.com.ABOUT NEW PACIFIC New Pacific is a Canadian exploration and development company advancing two permitting stage precious metals projects in Bolivia. Its Silver Sand project in Potosí has the potential to become one of the world's largest silver mines. The Carangas Silver–Gold Project in Oruro strengthens the Company's portfolio through scale, robust economics, and regional exploration potential. With over a decade of operating experience in Bolivia, New Pacific has earned the confidence of its stakeholders and shareholders. The Company is headquartered in Vancouver, British Columbia, and its shares trade on the Canadian Securities Exchange under the symbol "NUAG" and on the New York Stock Exchange under the symbol "NEWP".For further information, please contact:Peter Lekich, VP Investor Relations
New Pacific Metals Corp. Phone: (604) 633-1368 Ext. 223
1750 – 1066 Hastings Street, Vancouver, BC V6E 3X1, Canada
U.S. & Canada toll-free: 1 (877) 631-0593
E-mail: invest@newpacificmetals.comFor additional information and to receive the Company news by e-mail, please register using New Pacific's website at www.newpacificmetals.com.CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATIONExcept for statements of historical facts relating to the Company, certain information contained herein constitutes "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian provincial securities laws (collectively, "forward-looking statements"). Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "goals", "forecast", "budget", "potential" or variations thereof and other similar words, or statements that certain events or conditions "may", "could", "would", "might", "will" or "can" occur. Forward-looking statements include, but are not limited to: statements regarding the Company's financial results. Forward-looking statements are based on a number of estimates, assumptions, beliefs, expectations and opinions of management on the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include fluctuating equity prices, bond prices and commodity prices; calculation of resources, reserves and mineralization; general economic conditions; foreign exchange risks; interest rate risk; foreign investment risk; loss of key personnel; conflicts of interest; dependence on management; uncertainties relating to the availability and costs of financing needed in the future; environmental risks; operations and political conditions; the regulatory environment in Bolivia and Canada; risks associated with community relations and corporate social responsibility; and other factors described in the MD&A, under the heading "Risk Factors", in the Company's most recent annual information form and its other public filings. The foregoing is not an exhaustive list of the factors that may affect any of the Company's forward-looking statements or information.The forward-looking statements are necessarily based on a number of estimates, assumptions, beliefs, expectations and opinions of management as of the date of this news release that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates, assumptions, beliefs, expectations and opinions include, but are not limited to, those related to the Company's ability to carry on current and future operations, including: development and exploration activities; the timing, extent, duration and economic viability of such operations; the accuracy and reliability of estimates, projections, forecasts, studies and assessments; the Company's ability to meet or achieve estimates, projections and forecasts; the stabilization of the political climate in Bolivia; the availability and cost of inputs; the price and market for outputs; foreign exchange rates; taxation levels; the timely receipt of necessary approvals or permits, including the ratification and approval of the Mining Production Contract with Corporación Minera de Bolivia by the Plurinational Legislative Assembly of Bolivia; the ability of the Company's Bolivian partner to convert the exploration licenses at the Company's Carangas project to Administrative Mining Contract; the ability of the Company to obtain national recognition of its Carangas project's proposed "State of Necessity" designation; the ability to meet current and future obligations; the ability to obtain timely financing on reasonable terms when required; the current and future social, economic and political conditions; and other assumptions and factors generally associated with the mining industry.Although the forward-looking statements contained in this news release are based upon what management believes are reasonable assumptions, there can be no assurance that actual results will be consistent with these forward-looking statements. All forward-looking statements in this news release are qualified by these cautionary statements. Accordingly, readers should not place undue reliance on such statements. Other than specifically required by applicable laws, the Company is under no obligation and expressly disclaims any such obligation to update or alter the forward-looking statements whether as a result of new information, future events or otherwise except as may be required by law. These forward-looking statements are made as of the date of this news release.CAUTIONARY NOTE TO UNITED STATES INVESTORSThis news release has been prepared in accordance with the requirements of the securities laws in effect in Canada which differ from the requirements of United States securities laws. All mining terms used herein but not otherwise defined have the meanings set forth in National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101"). Unless otherwise indicated, the technical and scientific disclosure herein has been prepared in accordance with NI 43-101, which differs significantly from the requirements adopted by the United States Securities and Exchange Commission.Accordingly, information contained in this news release containing descriptions of the Company's mineral deposits may not be comparable to similar information made public by United States companies subject to the reporting and disclosure requirements of United States federal securities laws and the rules and regulations thereunder.Additional information relating to the Company, including the Company's annual information form, can be obtained under the Company's profile on SEDAR+ at www.sedarplus.ca, on EDGAR at www.sec.gov, and on the Company's website at www.newpacificmetals.com. View original content to download multimedia:https://www.prnewswire.com/news-releases/new-pacific-reports-financial-results-for-the-three-and-nine-months-ended-march-31-2026-302771545.htmlSOURCE New Pacific Metals Corp. Original: NEW PACIFIC REPORTS FINANCIAL RESULTS FOR THE THREE AND NINE MONTHS ENDED MARCH 31, 2026
iHub News
1月前
Critical Mineral-Rich Bolivia Is At A Turning Point As It Courts Western Investments And Friendlier U.S. Ties, Opening Doors For MinersApril 21, 2026 9:02 AM
IH Market News
By Meg Flippin, BenzingaPaid Advertisement for New Pacific Metals.After nearly two decades of socialist rule, mineral-rich Bolivia is at a turning point, following the inauguration of President Rodrigo Paz in November 2025. In an effort to shore up an economy that is suffering from soaring inflation and depleted foreign exchange reserves , the new government has introduced a “capitalism for all” platform that includes restoring full diplomatic ties with the U.S. and encouraging investments from the Western world and international financial institutions.The country, which for years prioritized state-led resource nationalism, is ready and willing to embrace foreign direct investment in strategic sectors, including mining. Bolivia wants to play a larger role in the global critical mineral supply chain and is betting that a shift into capitalism will help it achieve that end. That’s a far cry from a few years ago, when Bolivia nationalized its hydrocarbon sector, expelled the U.S. ambassador and restricted private participation in its vast natural resource reserves.
Western-Friendly Moves
One of the steps Bolivia is taking under its new government is an attempt to end twenty years of fuel subsidies in favor of market-based pricing. While this move faced significant domestic pushback from citizens accustomed to low gas prices, forcing a partial rollback of the efforts in early 2026, it remains a clear signal to international lenders that the Paz administration is serious about getting its finances in order.Along with this shift is Paz’s move to restore full diplomatic ties with the U.S. after a 17-year pause. By doing so, the country hopes to lure Western investment and technical expertise to its mining sector, specifically targeting its vast resources of lithium, silver and tin. As part of this effort, Bolivia has introduced a three-year profit tax holiday for new projects and vowed fast-track regulatory approvals to bypass the bureaucratic red tape that was a staple of the former government. By inviting independent third-party certification of its resources and promising transparent, bankable contracts, the Paz administration aims to position Bolivia as a reliable alternative in the global critical minerals supply chain.
Helping The World Move Away From Socialist Infrastructure
The efforts on the part of Bolivia come at a time when the Western world is looking to reduce its reliance on China and Russia for critical minerals, particularly those deemed vital for its economic and national security. After all, Bolivia holds the world’s largest lithium resources, but they have largely been trapped in the ground.It also holds the world’s 9th-largest silver reserves but has been unable to extract the metal at scale. By modernizing its mining laws, the new government hopes to turn these resources into a main driver of its economic recovery. It also aligns Bolivia closer to the U.S.’s Inflation Reduction Act (IRA), which aims to unlock billions of dollars in consumer tax credits for electric vehicles (EVs) that use minerals from countries with which the U.S. has a free trade agreement. While Bolivia can’t claim that status, it is seeking a Critical Minerals Agreement (CMA) similar to the one theU.S. signed with Japan. This would allow Bolivian lithium, silver and tin to be treated as FTA-compliant under the IRA.Lithium is necessary for the batteries that go into EVs, and silver, which is the most conductive metal on earth, is used in everything from the photovoltaic cells in solar panels to the complex electrical systems in EVs. It is also a key component for military applications, including missile guidance systems, satellite communications and radar. As it stands, the U.S. imports the majority of its silver, and with China controlling a large part of the supply, it is actively looking for stable partners, which the government of Bolivia is trying to become.
Investment Opportunities Abound
If Bolivia is successful with its efforts, it could open up an entirely new avenue of investment for investors. After all, Bolivia has large underdeveloped mineral resources that are in the early stages of exploration. Plus, with regulatory reforms and the interest on the part of Western economies to find new suppliers, money could pour into the country.None of this is lost on New Pacific Metals Corp. (TSX:NUAG) (AMEX:NEWP), the Vancouver, British Columbia, mining exploration and development company with two permitting-stage precious metal projects in Bolivia. The company has been investing in those projects and is confident it will pay off in the coming years. After all, the company owns two of the world’s largest undeveloped open-pit silver projects, which have the potential to produce nearly 19 million ounces of silver annually.Building on that, New Pacific said it reached a milestone in February by signing a framework agreement with the Carangas community, which clears a key hurdle for the development of its silver-gold project. This agreement, which includes commitments to local infrastructure and environmental protections, enables the company to move ahead with a 30,000-meter drilling campaign and a formal feasibility study this year, reported New Pacific. With the new Bolivian government promising to fast-track the conversion of exploration licenses into full mining permits, New Pacific says it is positioned to transition from an explorer to a silver producer just as demand for green energy technologies takes off.Bolivia is at a crossroads as it shifts from socialist rule toward capitalism. With the Western world looking for friendly countries to get its critical minerals from, Bolivia is raising its hand and saying it wants to be a major supplier. If the country is successful with its efforts, it could spell more opportunities for shareholders of companies like New Pacific. To learn more about New Pacific Metals and its silver mines in Bolivia, click here.Featured image from Shutterstock.This content was originally published on Benzinga. Read further disclosures here.This post contains sponsored content and was created in collaboration with a third-party partner. Benzinga is a publisher and does not provide personalized investment advice or act as a broker or dealer. This content is for informational purposes only and is not intended to be investing advice or an offer or solicitation to buy or sell any security.
Original: Critical Mineral-Rich Bolivia Is At A Turning Point As It Courts Western Investments And Friendlier U.S. Ties, Opening Doors For Miners
iHub News
2月前
Early Entry, Outsized Upside: Why it’s Time to Leverage Silver’s Breakout InvestmentMarch 25, 2026 3:50 AM
IH Market News
Early investments in metals mining have a history of delivering strong yields, and one emerging mining company is maximizing the vast potential of Bolivia to bring a jolt of supply to a world hungry for silver.Global demand for silver is surging and shows no sign of easing. However, as the silver market is in its sixth year of a structural deficit between supply and demand. The perfect storm of high demand, scarce supply, and underdeveloped fields is driving silver to record-high price ranges, reaching $81 by mid-March 2026.Silver is indispensable to the global electronics, transportation, and sustainability sectors, according to the Silver Institute. Silver powers up cellphones and tablets, converts sunlight to energy in solar panels, helps keep data centers cool, and puts electronic vehicles on the road.“Silver does everything from the greenification of the globe to artificial intelligence and data centers,” Silver Institute President and CEO Michael DiRenzo said in the podcast. “There’s just not enough silver to meet demand right now.”The podcast took a deep dive into mining development, the dwindling life of heritage silver mines, and the new players ripe for investment as they prepare for production that helps meet demand.
Ground-floor opportunities
As historical data and the respected Lassonde Value Curve show, early shareholders in “junior” mining companies – those pursuing early-stage due diligence – get to buy low before watching values rise steeply when the initial exploration, development, and feasibility phases transform into construction and production.New Pacific Metals (AMEX:NEWP), Canadian owner of two of the world’s largest undeveloped open pitable silver projects, is among those stepping into the breach as a major future supplier.Currently, New Pacific Metals’ two major precious metal assets in Bolivia are in the technical work, development, and permitting phase, creating opportunities for strong value creation when production drives share prices higher.In this atmosphere, Bolivia is bullish on silver. The nation of 12.6 million people in west-central South America has been a bulwark of silver development since the 16th century. Today, with three large-scale silver mines in operation, Bolivia is the world’s fourth-largest silver producing country, outputting 42 million ounces in 2023 and 2024.Recognizing the job creation and economic benefits of mining, Bolivia’s newly elected government encourages foreign investment and is smoothing the way for responsible permitting and contracting. Low-cost power is available through stable connections to the electrical grid, and roads are getting upgrades for all-season access and efficient logistics.New Pacific Metals is capitalizing on the rich deposits of its Silver Sand and Carangas projects. Silver Sand, in Bolivia’s growing Potosi region, has the potential to become one of the world’s largest silver mines, yielding around 12 million ounces of silver a year.The Carangas silver-gold project in Oruro strengthens New Pacific’s portfolio through scale, robust economics, and regional exploration potential. Carangas offers output potential of about 6.5 million ounces annually, plus significant possibilities for growth amid a large ore body.Combined, the potential annual silver output from Silver Sand and Carangas could equal, or exceed, that of many established global producers.“Nineteen million ounces of silver coming to the market would be great, with respect to meeting this burgeoning demand,” said DiRenzo.In 2026, New Pacific Metals is aligned to meet major objectives toward the goals of full permitting by early 2028. Both projects combine government engagement with strong local community partnerships to advance the environmental license.“One of the most important things that mining companies take really seriously is sustainability in the development and maintenance of that community,” DiRenzo noted.New Pacific’s major shareholders include two major players in global metals – Silvercorp, a 28 percent owner with additional assets in China, Ecuador, and Kyrgyzstan, and Pan American Silver, a longtime Bolivian producer with 12 percent ownership. Their skin in the game demonstrates confidence and reinforces the projects with additional strategic and technical backing.Once New Pacific achieves permitting, an array of financing options are expected to deliver strong value to shareholders. As DiRenzo noted, many mining companies have joined the Silver Institute as juniors, “and they’re thriving now.”“I anticipate the same case will be with New Pacific,” he said.New Pacific Metals is headquartered in Vancouver, British Columbia. Its shares trade on the Toronto Stock Exchange under the symbol “NUAG” and on the NYSE American under “NEWP”.For more on the demand driving up the value of silver-mining investments, listen to the Silver Institute “Talking Silver” podcast episode, “Meeting Silver’s Demand.”
Original: Early Entry, Outsized Upside: Why it’s Time to Leverage Silver’s Breakout Investment
US Market News
3月前
New Pacific Metals Announces Framework Agreement for Cooperation and Coordination with the Carangas CommunityFebruary 23, 2026 7:30 AM
PR Newswire (US)
VANCOUVER, BC, Feb. 23, 2026 /PRNewswire/ - New Pacific Metals Corp. (TSX: NUAG) (NYSE American: NEWP) ("New Pacific" or the "Company") is pleased to announce the signing of a Framework Agreement for Cooperation and Coordination (the "Agreement") with the Carangas community ("TIOC Carangas") in respect to its Carangas silver-gold project, located in Oruro Department, Bolivia (the "Carangas Project").The Agreement establishes a general framework of understanding and commitment between the Company and TIOC Carangas that reflects the shared intention to develop the Carangas Project based on transparency, fairness, mutual benefits, mutual respect, and long-term cooperation. The Agreement includes the terms, conditions, and commitments of both the Company and TIOC Carangas and represents a critical step in moving the Carangas Project forward towards production. The Carangas Project will provide economic and social benefits to Bolivia, Oruro Department, TIOC Carangas, and the Company's shareholders.Commitment to Responsible DevelopmentAs part of the Agreement, the Company has committed to:Fully acknowledge and respect the property, possession, and ancestral rights of TIOC Carangas over its lands and territory, in accordance with Bolivian laws and the United Nations Declaration on the Rights of Indigenous Peoples;Conduct its operations in compliance within the framework of Bolivian environmental regulations;Promote mutually beneficial social and economic opportunities;Support community members directly including support for the elderly community, individuals with disabilities, educational supplies, training initiatives and community health and development initiatives;A collaborative approach to sustainable development and identifying and advancing community priorities;Making a fixed annual contribution to a community development fund in amounts tied to the different stages of the Carangas Project;Support local businesses, where possible, by sourcing services and supplies related to the mine development and operation locally; andImplement a community resettlement plan to relocate the Carangas village to another location with improved infrastructure and living standards.TIOC Carangas has committed to:Actively participate in all stages of the public consultation to be carried out by the Administrative Jurisdictional Mining Authority (the "AJAM") and other Government bodies of Bolivia including the Ministry of Environment and Water;Collaborate with the Company in identifying and resolving conflicts and problems that may arise during the implementation of the Carangas Project; andSupport exploration, permitting, construction, and production of the Carangas Project, including, permitting unrestricted access to the area of the Carangas Project, and allowing full and unrestricted access to all mining rights granted to the Company by law.This Agreement is an important milestone in strengthening trust and ensuring that project advancement is carried out in a manner aligned with community values and regional development objectives. As set out in the Company's December 4, 2025 news release, with the Framework Agreement in place, the Company and AJAM Oruro will be able to successfully complete the formal prior consultation process. This will be followed by submitting an application to the National Assembly to convert the exploration licenses to mining permits. The Company is also planning to commence work on a feasibility study for the Carangas Project once the mining permits are granted, with infill drilling to upgrade the known resources. Additionally, the Company plans to conduct exploration drilling – targeting deeper zones within the known wide intercepts of gold mineralization as well as new targets represented by the Induced Polarization (IP) anomalies. The 2026 drilling campaign is expected to comprise over 30,000 metres of drilling.About New Pacific Metals New Pacific is a Canadian exploration and development company advancing two permitting stage precious metals projects in Bolivia. Its Silver Sand project in Potosí has the potential to become one of the world's largest silver mines. The Carangas Silver–Gold Project in Oruro strengthens the Company's portfolio through scale, robust economics, and regional exploration potential. With near a decade of operating experience in Bolivia, New Pacific has earned the confidence of its stakeholders and shareholders.For further information, please contact:Peter Lekich, Director Investor Relations and Corporate Development
New Pacific Metals Corp.
Phone: (604) 633-1368 Ext. 223
1750-1066 Hastings Street, Vancouver, BC V6E 3X1, Canada
E-mail: plekich@newpacificmetals.comFor additional information and to receive company news by e-mail, please register using New Pacific's website at www.newpacificmetals.com.CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATIONExcept for statements of historical facts relating to the Company, certain information contained herein constitutes "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian provincial securities laws (collectively, "forward-looking statements"). Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "is expected", "anticipates", "believes", "plans", "projects", "estimates", "assumes", "intends", "strategies", "targets", "goals", "forecasts", "objectives", "budgets", "schedules", "potential" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements or information. Such statements include, but are not limited to: statements regarding moving the Carangas Project forward towards production; that the Carangas Project will provide economic and social benefits Bolivia, Oruro Department, TIOC Carangas, and the Company's shareholders; and the commitments of both the Company and TIOC Carangas; the conversion of exploration licenses to mining permits; and the plans for the Company's feasibility study and drilling campaigns.Forward-looking statements are based on a number of estimates, assumptions, beliefs, expectations and opinions of management on the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include fluctuating equity prices, bond prices and commodity prices; calculation of resources, reserves and mineralization; general economic conditions; foreign exchange risks; interest rate risk; foreign investment risk; loss of key personnel; conflicts of interest; dependence on management; uncertainties relating to the availability and costs of financing needed in the future; environmental risks; operations and political conditions; the regulatory environment in Bolivia and Canada; risks associated with community relations and corporate social responsibility; and other factors under the heading "Risk Factors" in the Company's annual information form for the year ended June 30, 2025 (the "AIF") and its other public filings. The foregoing is not an exhaustive list of the factors that may affect any of the Company's forward-looking statements or information.The forward-looking statements are necessarily based on a number of estimates, assumptions, beliefs, expectations and opinions of management as of the date of this news release that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates, assumptions, beliefs, expectations and options include, but are not limited to, those related to the Company's ability to carry on current and future operations, including: public health crisis on our operations and workforce; development and exploration activities; the timing, extent, duration and economic viability of such operations; the accuracy and reliability of estimates, projections, forecasts, studies and assessments; the Company's ability to meet or achieve estimates, projections and forecasts; the stabilization of the political climate in Bolivia; the Company's ability to obtain and maintain social license at its mineral properties; the availability and cost of inputs; the price and market for outputs; foreign exchange rates; taxation levels; the timely receipt of necessary approvals or permits, including the ratification and approval of the Mining Production Contract with Corporación Minera de Bolivia, the Bolivian state mining corporation, by the Plurinational Legislative Assembly of Bolivia; the ability of the Company's Bolivian partner to convert the exploration licenses at the Company's Carangas project to Administrative Mining Contract; the ability to meet current and future obligations; the ability to obtain timely financing on reasonable terms when required; the current and future social, economic and political conditions; and other assumptions and factors generally associated with the mining industry.Although the forward-looking statements contained in this news release are based upon what management believes are reasonable assumptions, there can be no assurance that actual results will be consistent with these forward-looking statements. All forward-looking statements in this news release are qualified by these cautionary statements. Accordingly, readers should not place undue reliance on such statements. Other than specifically required by applicable laws, the Company is under no obligation and expressly disclaims any such obligation to update or alter the forward-looking statements whether as a result of new information, future events or otherwise except as may be required by law. These forward-looking statements are made as of the date of this news release.CAUTIONARY NOTE TO US INVESTORSThis news release has been prepared in accordance with the requirements of the securities laws in effect in Canada which differ from the requirements of United States securities laws. All mining terms used herein but not otherwise defined have the meanings set forth in National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101"). Unless otherwise indicated, the technical and scientific disclosure herein has been prepared in accordance with NI 43-101, which differs significantly from the requirements adopted by the United States Securities and Exchange Commission.Accordingly, information contained in this news release containing descriptions of the Company's mineral deposits may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements of United States federal securities laws and the rules and regulations thereunder.Additional information relating to the Company, including the Company's annual information form, can be obtained under the Company's profile on SEDAR+ at www.sedarplus.ca, on EDGAR at www.sec.gov, and on the Company's website at www.newpacificmetals.com.
View original content to download multimedia:https://www.prnewswire.com/news-releases/new-pacific-metals-announces-framework-agreement-for-cooperation-and-coordination-with-the-carangas-community-302694262.htmlSOURCE New Pacific Metals Corp.
Original: New Pacific Metals Announces Framework Agreement for Cooperation and Coordination with the Carangas Community
US Market News
4月前
NEW PACIFIC REPORTS FINANCIAL RESULTS FOR THE THREE AND SIX MONTHS ENDED DECEMBER 31, 2025February 11, 2026 6:32 PM
PR Newswire (Canada)
VANCOUVER, BC, Feb. 11, 2026 /CNW/ - New Pacific Metals Corp. ("New Pacific" or the "Company") reports its financial results for the three and six months ended December 31, 2025. All figures are expressed in US dollars unless otherwise stated.FISCAL 2026 Q2 HIGHLIGHTIn November 2025, Bolivia initiated a shift to a market-oriented economic model following a change in government. The new administration has pledged to modernize existing mining laws, aiming to reduce bureaucracy, strengthen legal certainty, combat illegal mining, and attract foreign investment. The Company is actively socializing its projects with the new government at all levels.FINANCIAL RESULTSNet loss attributable to equity holders of the Company for the three and six months ended December 31, 2025 was $1.58 million or $0.01 per share and $2.33 million or $0.01 per share, respectively (the three and six months ended December 31, 2024 – net loss of $0.74 million or $0.00 per share and $2 million or $0.01 per share, respectively). The Company's financial results were mainly impacted by the following items: Working Capital: As of December 31, 2025, the Company had working capital of $41 million.Operating expenses for the three and six months ended December 31, 2025 were $1.47 million and $2.79 million, respectively (the three and six months ended December 31, 2024 - $1.59 million and $3.20 million, respectively).Income from investments for the three and six months ended December 31, 2025 were $0.31 million and $0.42 million, respectively (the three and six months ended December 31, 2024 – $0.19 million and $0.44 million). Foreign exchange (loss) gain for the three and six months ended December 31, 2025 was $(0.42) million and $0.04 million, respectively (the three and six months ended December 31, 2024 – $0.64 million and $0.74 million, respectively).PROJECT EXPENDITUREThe following schedule summarized the expenditure incurred by category for each of the Company's projects for relevant periods:Cost
Silver Sand
Carangas
Silverstrike
TotalBalance, June 30, 2024$88,977,334$19,854,042$4,934,555$113,765,931Capitalized exploration expenditures
Reporting and assessment
94,894
190,352
-
285,246Drilling and assaying
342
6,763
5,125
12,230Project management and support
1,155,235
889,034
37,828
2,082,097Camp service
179,873
295,804
17,033
492,710Permit and license
12,606
47,818
-
60,424Value added tax not claimed
109,086
44,020
2,046
155,152Foreign currency impact
51,499
26,018
3,058
80,575Balance, June 30, 2025$90,580,869$21,353,851$4,999,645$116,934,365Capitalized exploration expenditures
Reporting and assessment
765
-
-
765Drilling and assaying
-
-
589
589Project management and support
720,428
301,217
31,370
1,053,015Camp service
377,024
62,953
11,332
451,309Permit and license
3,412
24,252
-
27,664Value added tax receivable
79,457
7,939
798
88,194Foreign currency impact
(56,687)
(16,820)
(4,145)
(77,652)Balance, December 31, 2025$91,705,268$21,733,392$5,039,589$118,478,249SILVER SAND PROJECTFor the three and six months ended December 31, 2025, total expenditures of $0.67 million and $1.18 million, respectively (three and six months ended December 31, 2024 - $0.42 million and $0.94 million, respectively) were capitalized under the project.CARANGAS PROJECTFor the three and six months ended December 31, 2025, total expenditures of $0.22 million and $0.40 million, respectively (the three and six months ended December 31, 2024 - $0.39 million and $0.75 million, respectively) were capitalized under the project.SILVERSTRIKE PROJECTFor the three and six months ended December 31, 2025, total expenditures of $0.03 million and $0.04 million, respectively (the three and six months ended December 31, 2024 - $0.01 million and $0.03 million, respectively) were capitalized under the project.MANAGEMENT DISCUSSION AND ANALYSISThis news release should be read in conjunction with the Company's management discussion and analysis (the "MD&A") and the audited consolidated financial statements and notes thereto for the corresponding period, which have been filed with the Canadian Securities Administrators and are available under the Company's profile on SEDAR+ at www.sedarplus.ca, on EDGAR at www.sec.gov and on the Company's website at www.newpacificmetals.com.ABOUT NEW PACIFIC New Pacific is a Canadian exploration and development company advancing two permitting stage precious metals projects in Bolivia. Its Silver Sand project in Potosí has the potential to become one of the world's largest silver mines. The Carangas Silver–Gold Project in Oruro strengthens the Company's portfolio through scale, robust economics, and regional exploration potential. With over a decade of operating experience in Bolivia, New Pacific has earned the confidence of its stakeholders and shareholders. The Company is headquartered in Vancouver, British Columbia, and its shares trade on the Canadian Securities Exchange under the symbol "NUAG" and on the New York Stock Exchange under the symbol "NEWP".For further information, please contact:Peter Lekich, VP Investor Relations
New Pacific Metals Corp. Phone: (604) 633-1368 Ext. 223
1750 – 1066 Hastings Street, Vancouver, BC V6E 3X1, Canada
U.S. & Canada toll-free: 1 (877) 631-0593
E-mail: invest@newpacificmetals.com
For additional information and to receive the Company news by e-mail, please register using New Pacific's website at www.newpacificmetals.com.CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATIONExcept for statements of historical facts relating to the Company, certain information contained herein constitutes "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian provincial securities laws (collectively, "forward-looking statements"). Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "goals", "forecast", "budget", "potential" or variations thereof and other similar words, or statements that certain events or conditions "may", "could", "would", "might", "will" or "can" occur. Forward-looking statements include, but are not limited to: statements regarding the Company's financial results. Forward-looking statements are based on a number of estimates, assumptions, beliefs, expectations and opinions of management on the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include fluctuating equity prices, bond prices and commodity prices; calculation of resources, reserves and mineralization; general economic conditions; foreign exchange risks; interest rate risk; foreign investment risk; loss of key personnel; conflicts of interest; dependence on management; uncertainties relating to the availability and costs of financing needed in the future; environmental risks; operations and political conditions; the regulatory environment in Bolivia and Canada; risks associated with community relations and corporate social responsibility; and other factors described in the MD&A, under the heading "Risk Factors", in the Company's most recent annual information form and its other public filings. The foregoing is not an exhaustive list of the factors that may affect any of the Company's forward-looking statements or information.The forward-looking statements are necessarily based on a number of estimates, assumptions, beliefs, expectations and opinions of management as of the date of this news release that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates, assumptions, beliefs, expectations and opinions include, but are not limited to, those related to the Company's ability to carry on current and future operations, including: development and exploration activities; the timing, extent, duration and economic viability of such operations; the accuracy and reliability of estimates, projections, forecasts, studies and assessments; the Company's ability to meet or achieve estimates, projections and forecasts; the stabilization of the political climate in Bolivia; the availability and cost of inputs; the price and market for outputs; foreign exchange rates; taxation levels; the timely receipt of necessary approvals or permits, including the ratification and approval of the Mining Production Contract with Corporación Minera de Bolivia by the Plurinational Legislative Assembly of Bolivia; the ability of the Company's Bolivian partner to convert the exploration licenses at the Company's Carangas project to Administrative Mining Contract; the ability of the Company to obtain national recognition of its Carangas project's proposed "State of Necessity" designation; the ability to meet current and future obligations; the ability to obtain timely financing on reasonable terms when required; the current and future social, economic and political conditions; and other assumptions and factors generally associated with the mining industry.Although the forward-looking statements contained in this news release are based upon what management believes are reasonable assumptions, there can be no assurance that actual results will be consistent with these forward-looking statements. All forward-looking statements in this news release are qualified by these cautionary statements. Accordingly, readers should not place undue reliance on such statements. Other than specifically required by applicable laws, the Company is under no obligation and expressly disclaims any such obligation to update or alter the forward-looking statements whether as a result of new information, future events or otherwise except as may be required by law. These forward-looking statements are made as of the date of this news release.CAUTIONARY NOTE TO UNITED STATES INVESTORSThis news release has been prepared in accordance with the requirements of the securities laws in effect in Canada which differ from the requirements of United States securities laws. All mining terms used herein but not otherwise defined have the meanings set forth in National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101"). Unless otherwise indicated, the technical and scientific disclosure herein has been prepared in accordance with NI 43-101, which differs significantly from the requirements adopted by the United States Securities and Exchange Commission.Accordingly, information contained in this news release containing descriptions of the Company's mineral deposits may not be comparable to similar information made public by United States companies subject to the reporting and disclosure requirements of United States federal securities laws and the rules and regulations thereunder.Additional information relating to the Company, including the Company's annual information form, can be obtained under the Company's profile on SEDAR+ at www.sedarplus.ca, on EDGAR at www.sec.gov, and on the Company's website at www.newpacificmetals.com.
View original content to download multimedia:https://www.prnewswire.com/news-releases/new-pacific-reports-financial-results-for-the-three-and-six-months-ended-december-31-2025-302685761.htmlSOURCE New Pacific Metals Corp.
Original: NEW PACIFIC REPORTS FINANCIAL RESULTS FOR THE THREE AND SIX MONTHS ENDED DECEMBER 31, 2025
iHub News
4月前
Silver Miners and Investors Find Promise in Mining-Friendly, Underdeveloped BoliviaFebruary 10, 2026 12:00 AM
IH Market News
As the world’s need for electronic devices and renewable energy accelerates, silver is hitting record highs in demand and pricing, and the surge shows no signs of easing.This article is disseminated on behalf of New Pacific Metals Corp. It is intended to inform investors and should not be taken as a recommendation or financial advice.The nonstop need for silver continues increasing its value for investors, but high demand also puts pressure on limited supplies. A few producers are stepping up their output, ready to accommodate global needs.“Silver is indispensable to everyday life and the global economy,” said Jalen Yuan, CEO of New Pacific Metals Corp. (AMEX:NEWP) (TSX:NUAG) “Dedicated silver exploration and development is taking on increasing urgency for its power to deliver consistent returns in a fluctuating market while also promising better lives for people the world over.”
Silver on the upswing
At the end of 2025, silver prices reached all-time highs above $60 an ounce, and in and after peaking at over $120 per ounce in January 2026, it remained over $75 per ounce.What’s driving industrial demand? In essence, anything with an on/off switch probably needs silver – and silver only. Industry requires silver for its unparalleled conductive qualities, and unlike copper and other metals, alternatives are scarce.Silver is essential for the growing electronics and sustainability sectors. Industry is now consuming 59 percent of the world’s silver output, applying it to:
Solar energy panels. Silver converts sunlight to electrons and carries the electricity generated. Despite a slowdown in U.S. incentives, global solar installations rose by 33 percent in 2024 and are expected to continue rising in the low double digits through 2029, according to Solar Power Europe.
Electronic devices. One-third of the world’s silver goes toward electronics, creating electrical pathways and facilitating light-touch on/off switches in cellphones, tablets, toys, and more.
AI and data centers. The data centers powering AI have become the fastest-growing electronics category. They need silver for cloud infrastructures, high-speed networking, and cooling systems.
Automotives. Electric vehicles consume twice the silver of gas-powered vehicles for their additional electrical systems and power management components. Half all vehicles sold by 2035 are expected to be EVs, predicts the International Energy Association.
Wearables. Increasingly, smart rings, watches, pendants, and even clothing are monitoring biometrics, sleep, activity, and personal air quality.
“As we become more connected in society, we become more reliant on electronic devices, and demand for silver is going to stay very strong,” said Trevor Keel, technical director, the Silver Institute.
A geopolitical player
While industrial demand rises, silver is also gaining popularity as a safe haven for investors seeking certainty amid the global political strife. Since the U.S. Geological Survey listed silver as a “critical mineral” essential to national security, some analysts expect stockpiling by the U.S. and other nations.Precious metals analyst David Morgan suggested the possibility of a 3x rise in silver prices from their mid-2025 levels. Metals markets, he said, are moving “at a sprint,” as institutions and the public seek them out to hedge against currency disruption.The confluence of surging demand for silver and political uncertainty “is enough to more than move the needle on continued safe-haven demand for gold and silver,” said Kitco News analyst Jim Wyckoff.Global mine production reached a seven-year high of 844 million ounces in 2025, according to the Silver Institute, but like a bathtub that drains faster than it fills, it isn’t enough. The World Silver Survey projects a shortfall of 118 million ounces in 2026.“In short, silver supply is sticky, but demand is anything but,” said Amit Pabari, managing director, CR Forex Advisors.
Bolivia to the forefront
A look at Mining.com’s top 20 silver-producing regions, including Poland, Mexico, and Russia, shows an array of barriers in silver production. Mining companies encounter strikes, land use disputes with communities, and logistical challenges. One leading company changed its domicile and sold its Russian assets to evade U.S. sanctions in 2023.In this atmosphere, Bolivia is emerging as a safe and stable supplier of the silver the world needs. Bolivia is the world’s fourth-largest silver producing country, rich with minerals and, unlike Mexico and other silver regions, underexplored geographically, with limited modern exploration. Mining exports doubled year-over-year in 2020, and a new, mining-friendly government is inviting foreign investment.New Pacific Metals, a Canadian exploration and development company advancing precious metal projects in Bolivia, owns two of the world’s largest undeveloped open pitable silver projects, positioning the company as a major future supplier to meet global demand.New Pacific’s permitting-stage Silver Sand project in Bolivia’s Potosi region could become one of the world’s largest pure silver mines, with the potential to produce about 12 million ounces of silver annually at all-in sustaining costs of below $11 an ounce.New Pacific’s Carangas Silver–Gold Project in Oruro strengthens the company’s portfolio through scale, robust economics, and regional exploration potential. Major steps expected at Carangas in 2026 include a 30,000-meter drilling program to upgrade and expand gold and silver resources, finalization of a community agreement, advancing the environmental license through strong government engagement and community partnerships, complete conversion from an exploration license to an exploitation license, and an updated preliminary economic assessment to include a gold zone.When underway, Carangas’ development could add about 6.6 million ounces to annual supply.Combined, the Silver Sand and Carangas Silver-Gold projects could produce as much or more silver output than many established global producers. The strong economic fundamentals of the projects are evident in high internal rates of return and low all-in sustaining costs per ounce of silver.With more than a decade of operating experience in Bolivia, New Pacific has earned the confidence of stakeholders and shareholders, including major ownership shares by industry leaders Silvercorp Metals, at 28 percent, and Pan American Silver, at 12 percent. The commitment of highly reputable industry players demonstrates their confidence in the projects while assuring strategic and technical backing. Headquartered in Vancouver, British Columbia, the company’s shares trade on the Canadian Securities Exchange under NUAG and on the New York Stock Exchange under NEWP.“The New Pacific Metals strategy for strong ROI in Bolivia is built on careful project identification and acquisition, thorough geological study, well-planned drilling, and long-term shareholder value creation,” said Yuan. “Our corporate social responsibility team is constantly on the ground, building respectful ties with local and national stakeholders. With its extensive commitments and strategic approach to bringing the Silver Sand and Carangas projects to fruition, New Pacific offers investors a rare opportunity to capitalize on an underdeveloped region now poised for significant contributions to meeting the world’s demand for silver.”For more information, please visit newpacificmetals.com/welcome.
Original: Silver Miners and Investors Find Promise in Mining-Friendly, Underdeveloped Bolivia
kiwisteve
16年前
New Pacific Metals Announces Intention to Make Take-Over Bid for Tagish Lake Gold Corp.
VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 5, 2010) - New Pacific Metals Corp. ("New Pacific") (TSX VENTURE:NUX) announces today that it intends to make an offer to purchase all of the common shares (the "Offer") of Tagish Lake Gold Corp. ("Tagish Lake", TSXV: TLG.V). New Pacific's offer is $0.06 per share payable in cash or in 0.0822 New Pacific shares, or a combination of 50% in cash and 50% in New Pacific shares at the election of the Tagish Lake shareholders. New Pacific is concurrently offering to purchase for cash the approximately $7.4 million in secured and unsecured debt on the books of Tagish Lake. Secured creditors of Tagish Lake (the "Secured Creditors") are being offered 100% of their proven claim amounts with no conditions, and unsecured creditors (the "Unsecured Creditors") will be offered 100% of their debt on the books of the Company subject to the fulfillment of certain conditions under the take-over bid.
The Offer for the Tagish Lake common shares represents a premium of 50% over Tagish Lake's closing share price on July 2, 2010, and a 50% premium to Tagish Lake's 20-day, and year to date volume-weighted average closing price ("VWAP") on the TSX Venture Exchange ("TSXV"). New Pacific is offering Tagish Lake shareholders certainty, and a solution to remove Tagish Lake from Companies Creditors Arrangement Act ("CCAA") protection, with a compelling premium to the longstanding share price, in a bid that enables them to choose to cash out or participate in the development of Tagish Lake's Skukum Creek Gold District.
New Pacific has $10 million in cash, a further $10 million available under a line of credit, a transparent ownership structure and a track record of raising capital in North American financial markets. Its management and directors have a history of operational success in bringing high grade, narrow vein mines into production effectively.
The Offer
The Offer permits Tagish Lake shareholders to choose between:
1. $0.06 per share in cash (the "Cash Election"); or
2. 0.0822 of a New Pacific share (the "Share Election"), at an implied price of $0.73 per New Pacific share, being the 20 day VWAP of New Pacific shares on the TSXV up to July 2, 2010; or
3. a combination of 50% in cash and 50% in New Pacific shares (the "Combined Election").
Consideration receivable by Tagish Lake shareholders under the Offer represents a compelling 50% premium over both Tagish Lake's closing share price of $0.04 on the TSXV on July 2, 2010 and Tagish Lake's 20-day and year to date VWAPs on the TSXV.
Further:
* the Offer represents a premium of approximately 860% over the offered value that had been approved by the Tagish Lake Board of Directors under the proposed amalgamation in 2009 with YS Mining Company Inc. ("YSM" or "YS Mining"), which valued the Tagish Lake shares at $0.00625 per share. That proposed amalgamation did not receive approval from TSXV and was subsequently terminated by YSM (see Tagish Lake press releases of April 2, May 19, June 12, July 2, August 11 & 19, 2009)
* the Offer also represents a superior alternative to Tagish Lake management's submission to the Supreme Court of British Columbia in the CCAA action that the asset value of the Company is less than its $7.4 million debt.
Offer to Secured Creditors
New Pacific is offering to pay Secured Creditors 100% of their proven claim amounts in cash. Secured Creditors who accept the offer will be paid regardless of the outcome of the takeover bid.
Offer to Unsecured Creditors
New Pacific is offering to pay Unsecured Creditors 100% of the value of their debt on the books of the Company, subject to the minimum tender condition under the takeover bid being satisfied and New Pacific taking up and paying for Tagish Lake shares tendered to the Offer.
Additional Details of the Offer
Full details of the Offer and the offer to the Secured Creditors and Unsecured Creditors will be contained in a formal offer and take-over bid circular to be filed with securities regulatory authorities and mailed to Tagish Lake shareholders and creditors. New Pacific has formally requested a list of Tagish Lake shareholders and expects to formally launch its Offer as soon as practicable following receipt of the Tagish Lake shareholder list. The Offer will remain open for at least 35 days following the commencement of the Offer. Copies of the Offer, offering circular and related documents will also be made available under New Pacific's filings on the SEDAR system: www.sedar.com.
The Offer, and the offer to Unsecured Creditors will be subject to certain customary conditions including: a minimum tender threshold of 66 2/3% of the Tagish Lake Shares, receipt of all required regulatory approvals and third-party consents, the absence of any material adverse change in Tagish Lake; the absence of certain prohibited activities on the part of Tagish Lake (including share issuances, material debt issuances, acquisitions and dispositions) between the date hereof and the expiry of the Offer; and no untrue statements or omissions in Tagish Lake's public disclosure.
New Pacific holds, through a wholly owned subsidiary, 14,300,000 shares of Tagish Lake acquired at prevailing prices through the facilities of the TSXV, representing 9.9% of the current issued and outstanding capital of Tagish Lake.
This press release does not constitute an offer to buy or an invitation to sell, or the solicitation of an offer to buy or invitation to sell, any of the securities of New Pacific or Tagish Lake. Such an offer may only be made pursuant to an offer and take-over bid circular filed with the securities regulatory authorities in Canada.
Background to the Offer
Due to threats from secured creditors to seize the Company's assets, Tagish Lake sought, and is currently under Court protection from creditors pursuant to, an Order of the Supreme Court of British Columbia, under the CCAA granted April 9, 2010, as extended and amended by a Claims Process Order on May 7, 2010. See Tagish Lake press releases of April 12, May 6, and May 17, 2010.
Prior to announcing this Offer, New Pacific made a written proposal to the Board of Tagish Lake offering to immediately pay off and take an assignment of any outstanding secured loans and to agree not to enforce any security for at least one year, in conjunction with a friendly acquisition of Tagish Lake at $0.06 per common share, pursuant to a statutory Plan of Arrangement. On July 4, 2010, New Pacific received a response from the CEO of Tagish Lake advising that the board was prepared to discuss the proposal, but was unable to convene a board meeting to consider the matter until Tuesday July 6, 2010. New Pacific looks forward to hearing from the Tagish Lake board.
While New Pacific would much prefer to negotiate a friendly transaction with Tagish Lake, New Pacific is of the view that its proposal to Tagish Lake is material information that must be disclosed to the market. There is no certainty that a negotiated transaction on acceptable terms can be reached.
Should New Pacific be successful in its proposed offer, a priority will be to call an annual general meeting to elect directors, as the last shareholder meeting was held in March 2007.
New Pacific has secured a letter of credit in the amount of up to $10,000,000 with a shareholder of New Pacific. The letter of credit will bear interest at the Bank of Montreal prime rate plus 7% per annum, and New Pacific must pay an establishment fee of up to $350,000.
About New Pacific Metals
New Pacific is engaged in the exploration and development of mineral resources, gold-poly-metallic projects in China and other jurisdictions. New Pacific has extensive experience in implementing high grade resource development projects. For more information about New Pacific, visit the company's website at www.newpacificmetals.com.
Forward Looking Information
This news release may contain forward looking statements, being statements which are not historical facts, including, without limitation, statements regarding the proposed acquisition of Tagish Lake common shares by New Pacific, the offer to pay out the secured and unsecured creditors, and discussion of future plans and objectives. There can be no assurance that such statements will prove accurate. Such statements are necessarily based on a number of estimates and assumptions that are subject to numerous risks and uncertainties that could cause actual results and future events to differ materially from those anticipated or projected. New Pacific Metals disclaims any intention or obligations to revise or update such statements. The following factors, among others, could cause actual results or developments to differ materially from the results or developments expressed or implied by forward looking statements: New Pacific cannot determine the number of Tagish Lake shareholders who may accept New Pacific's Offer; New Pacific may not succeed in acquiring 66 2/3% of the outstanding Tagish Lake shares (on a fully-diluted basis); If the Offer is successful, New Pacific may not be successful in assisting Tagish Lake to obtain, and Tagish Lake may not obtain, the regulatory and other approvals and financing required to develop the Skukum Mineral District; Tagish Lake may not be successful in developing the Skukum Mineral District.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the release.
For more information, please contact
New Pacific Metals Corp.
Investor Relations
(604) 633-1368
info@newpacificmetals.com
www.newpacificmetals.com