NEW PACIFIC REPORTS FINANCIAL RESULTS FOR THE THREE MONTHS AND YEAR ENDED JUNE 30, 2026
Original announcement by orestocks on
- Company
- New Pacific Metals Corp.
- Ticker
- NUAG.TO
- Exchange
- Unavailable
- Region
- Bolivia
- Primary commodity
- Silver
- Secondary commodities
- Gold, Zinc, Lead, Copper
- Document categories
- Resource update, Agreement transaction, Capital raise
- Extracted
- 2026-09-03 21:49:48 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
New Pacific Metals Corp. reported its financial results for the year ended June 30, 2026, highlighting significant progress on its Carangas Silver-Gold Project in Bolivia. Key achievements include an updated Preliminary Economic Assessment (PEA) showing a post-tax NPV of $2.65 billion and an IRR of 35.9%, the signing of Administrative Mining Contracts for a 30-year term, and a successful CAD $40.4 million bought deal financing. The company also established a Framework Agreement with the local Carangas community, further de-risking the project, though the PEA notes some permitting and resource classification risks.
Reasoning: New Pacific Metals Corp. reported strong updated Preliminary Economic Assessment (PEA) results for its Carangas Silver-Gold Project, signed key administrative mining contracts, and completed a capital raise, all of which significantly de-risk and advance the project. However, the PEA's preliminary nature and reliance on un-owned concessions introduce some risk.
Positive factors
- Strong PEA economics (NPV, IRR, LOM, payable metals)
- Securing Administrative Mining Contracts (AMCs) for 30 years
- Framework Agreement with local community
- Successful capital raise completed
- NI 43-101 compliant PEA with QP/CP sign-off
Negative factors
- PEA is preliminary and includes Inferred Mineral Resources
- Pit design requires mining on concessions not yet owned by the company
- Potential socio-political instability in Bolivia
- Metal equivalent assumptions for PEA production not explicitly disclosed
Facts used in scoring: 29
Classification and evidence
Capital Raise Completedpositive · Story-specific tag
No canonical definition is currently available.
Why it applies: The company successfully closed a bought deal financing, raising CAD $40.4 million.
Evidence · text
“On October 21, 2025, the Company closed a bought deal financing.”
Permitting Milestonepositive · Story-specific tag
No canonical definition is currently available.
Why it applies: The company signed Administrative Mining Contracts (AMCs) for its Carangas Project, which is a key step in securing mining rights.
Evidence · text
“On August 21, 2026, the Company signed the Administrative Mining Contracts ("AMCs") for its Carangas Silver-Gold Project”
Community Agreementpositive · Story-specific tag
No canonical definition is currently available.
Why it applies: The company signed a Framework Agreement for Cooperation and Coordination with the Carangas community.
Evidence · text
“On February 23, 2026, the Company signed a Framework Agreement for Cooperation and Coordination (the "Agreement") with the Carangas community ("TIOC Carangas")”
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: The document reports an 'Updated independent preliminary economic assessment technical report' for the Carangas Project.
Evidence · text
“On August 14, 2026, the Company filed an updated independent preliminary economic assessment technical report for its Carangas Project”
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The Updated Carangas PEA Technical Report was prepared 'in accordance with National Instrument 43‐101'.
Evidence · text
“independently prepared by Ausenco Engineering Canada ULC. ("Ausenco") in accordance with National Instrument 43‐101 ‐ Standards of Disclosure for Mineral Projects ("NI 43‐101").”
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: The document lists multiple qualified persons (FAusIMM, P.Eng., P.Geo., PE, SME) who reviewed and verified the disclosure of the Updated Carangas PEA Technical Report.
Evidence · text
“The qualified persons for the Updated Carangas PEA Technical Report are Mr. Anderson Candido, FAusIMM, Principal Geologist with SLR Mr. Jinxing Ji, P.Eng., Metallurgist with JJ Metallurgical Services, Mr. Kevin Murray, P.Eng., Principle Process Engineer with Ausenco, Mr. Scott Elfen, PE, SME, and Global Technical Lead (Geotechnical) with Ausenco, Mr. James Millard, P. Geo., Director, Strategic Projects with Ausenco, and Mr. Marc Schulte, P.Eng., Mining Engineer with Moose Mountain Technical Services.”
Metal Equivalent Opaquenegative · Story-specific tag
Metal equivalent grade reported without disclosing the price, recovery, or payability assumptions used.
Why it applies: The PEA reports 339.0 Moz silver equivalent without disclosing the underlying price, recovery, or payability assumptions for this specific equivalent production figure.
Evidence · text
“339.0 Moz silver equivalent ("AgEq")”
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: The cut-off grade of 30 g/t AgEq used for the mineral resource estimate is explicitly stated.
Evidence · text
“Cut-off grade of 30 g/t AgEq.”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The PEA is based on both Indicated and Inferred Mineral Resources, with Inferred resources considered too speculative for economic studies.
Evidence · text
“The Updated Carangas PEA Technical Report mine schedule and economic assessment includes numerous assumptions and is based on both Indicated and Inferred Mineral Resources.”
Permitting Risknegative · Story-specific tag
No canonical definition is currently available.
Why it applies: The pit design requires mining on concessions that do not belong to the company and are not currently available for tenure, introducing uncertainty.
Evidence · text
“The pit design for the deeper gold zone requires mining of waste (waste stripping) on Mining Concessions in the southern portion of the planned open pit that do not belong to the Company. These Concessions are held by the state of Bolivia and are not currently available for tenure.”
Socio-Political Risknegative · Story-specific tag
No canonical definition is currently available.
Why it applies: The document explicitly mentions recent significant social unrest in Bolivia, which could adversely affect project assumptions.
Evidence · text
“Bolivia has recently experienced significant social unrest, including protests and blockades that led to a government-declared state of emergency.”
Extracted facts
Stored fact records: 29. Some facts used in scoring do not have a stored record.
Resource Estimates (29)
Fact 1View all detailsHide details
Identity
- Ticker
- NUAG.TO
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-03T00:00:00.000Z
Reasoning: The company successfully completed a significant bought deal financing, raising CAD $40.4 million, which provides capital for ongoing project development.
Positive factors
- Successful completion of a significant capital raise
- Provides funding for project development
Evidence · text
“On October 21, 2025, the Company closed a bought deal financing. A total of 11,385,000 common shares of the Company were sold under the bought deal financing at a price of CAD $3.55 (approximately $2.53) per common share for total gross proceeds of approximately CAD $40.4 million (approximately $28.8 million).”
Fact 2Carangas ProjectView all detailsHide details
Identity
- Project
- Carangas Project
- Ticker
- NUAG.TO
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-03T00:00:00.000Z
Reasoning: The signing of 30-year Administrative Mining Contracts for the Carangas Project is a critical permitting milestone, significantly de-risking the project's future development.
Positive factors
- Secures long-term mining rights for the project
- Significant de-risking milestone for project development
Evidence · text
“On August 21, 2026, the Company signed the Administrative Mining Contracts ("AMCs") for its Carangas Silver-Gold Project (the "Carangas Project") with the Autoridad Jurisdiccional Administrativa Minera (Administrative Mining Jurisdictional Authority, or "AJAM"). The AMCs, which cover the approximately 39 km2 of the Carangas Project, have a 30-year fixed term.”
Fact 3Carangas ProjectView all detailsHide details
Identity
- Project
- Carangas Project
- Ticker
- NUAG.TO
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-03T00:00:00.000Z
Reasoning: The Framework Agreement with the Carangas community is a positive step towards securing social license and ensuring long-term cooperation for the project.
Positive factors
- Establishes a framework for cooperation with the local community
- Mitigates social license to operate risks
Evidence · text
“On 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 Project.”
Fact 4Carangas ProjectView all detailsHide details
Identity
- Project
- Carangas Project
- Ticker
- NUAG.TO
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-03T00:00:00.000Z
Reasoning: The updated PEA reports a substantial post-tax NPV of $2.65 billion, demonstrating strong economic potential for the Carangas Project.
Positive factors
- Very strong post-tax NPV indicating robust project economics
- Significant value creation potential
Evidence · text
“Post-tax net present value ("NPV") (5%) of $2.65 billion”
Fact 5Carangas ProjectView all detailsHide details
Identity
- Project
- Carangas Project
- Ticker
- NUAG.TO
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-03T00:00:00.000Z
Reasoning: A post-tax IRR of 35.9% highlights the project's strong profitability and attractiveness for investment.
Positive factors
- High internal rate of return indicating attractive project profitability
- Suggests efficient capital deployment
Evidence · text
“internal rate of return ("IRR") of 35.9%”
Fact 6Carangas ProjectView all detailsHide details
Identity
- Project
- Carangas Project
- Ticker
- NUAG.TO
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-03T00:00:00.000Z
Reasoning: A 19-year life of mine suggests a substantial and long-lasting operation, contributing to project stability and value.
Positive factors
- Long life of mine provides sustained production and cash flow
- Indicates a significant resource base
Evidence · text
“19-year life of mine ("LOM"), excluding two-years of pre-production”
Fact 7Carangas Project · silverView all detailsHide details
Identity
- Project
- Carangas Project
- Commodity
- silver
- Ticker
- NUAG.TO
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-03T00:00:00.000Z
Reasoning: The PEA projects substantial payable silver production of 195 Moz, underscoring silver as a primary value driver for the project.
Positive factors
- Large projected payable silver production over LOM
- Significant contribution to project revenue
Evidence · text
“producing approximately 195 million oz ("Moz") of payable Ag”
Fact 8Carangas Project · goldView all detailsHide details
Identity
- Project
- Carangas Project
- Commodity
- gold
- Ticker
- NUAG.TO
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-03T00:00:00.000Z
Reasoning: The inclusion of 1.1 Moz of payable gold production enhances the project's overall economics and commodity diversification.
Positive factors
- Significant payable gold production adds to project value
- Diversifies revenue streams alongside silver
Evidence · text
“1.1 Moz of payable Au”
Fact 9Carangas Project · zincView all detailsHide details
Identity
- Project
- Carangas Project
- Commodity
- zinc
- Ticker
- NUAG.TO
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-03T00:00:00.000Z
Reasoning: The PEA outlines significant payable zinc production of 1,453 Mlbs, contributing to the project's polymetallic value.
Positive factors
- Substantial payable zinc production contributes to project revenue
- Adds to the polymetallic nature of the deposit
Evidence · text
“1,453 million pounds ("Mlbs") of payable Zn”
Fact 10Carangas Project · leadView all detailsHide details
Identity
- Project
- Carangas Project
- Commodity
- lead
- Ticker
- NUAG.TO
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-03T00:00:00.000Z
Reasoning: Projected payable lead production of 941 Mlbs adds further value and diversity to the Carangas Project's output.
Positive factors
- Significant payable lead production further enhances project economics
- Reinforces the polymetallic nature of the deposit
Evidence · text
“941 Mlbs of payable Pb”
Fact 11Carangas Project · silverView all detailsHide details
Identity
- Project
- Carangas Project
- Commodity
- silver
- Ticker
- NUAG.TO
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-03T00:00:00.000Z
Reasoning: The total payable metal expressed as 339.0 Moz AgEq highlights the project's significant scale, but the lack of disclosed assumptions for this specific equivalent grade reduces transparency.
Positive factors
- High silver equivalent production indicates overall project scale
Negative factors
- Assumptions for metal equivalent calculation are not disclosed in this section
Evidence · text
“339.0 Moz silver equivalent ("AgEq")”
Fact 12Carangas ProjectView all detailsHide details
Identity
- Project
- Carangas Project
- Ticker
- NUAG.TO
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-03T00:00:00.000Z
Reasoning: The initial capital costs of $644.5 million are a key economic parameter for the project, providing a baseline for development expenditure.
Positive factors
- Initial capital costs are within expected range for a project of this scale
Evidence · text
“Initial capital costs of $644.5 million”
Fact 13Carangas ProjectView all detailsHide details
Identity
- Project
- Carangas Project
- Ticker
- NUAG.TO
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-03T00:00:00.000Z
Reasoning: A short post-tax payback period of 2.4 years demonstrates the project's ability to quickly generate returns and recover initial investment.
Positive factors
- Very rapid post-tax payback period indicates strong cash flow generation
- Reduces investment risk
Evidence · text
“post-tax payback of 2.4 years”
Fact 14Carangas Project · silverView all detailsHide details
Identity
- Project
- Carangas Project
- Commodity
- silver
- Ticker
- NUAG.TO
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-03T00:00:00.000Z
Reasoning: The base case metal price for silver is a key assumption in the PEA's economic model.
Evidence · text
“$45.00/ounce ("oz") silver ("Ag")”
Fact 15Carangas Project · goldView all detailsHide details
Identity
- Project
- Carangas Project
- Commodity
- gold
- Ticker
- NUAG.TO
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-03T00:00:00.000Z
Reasoning: The base case metal price for gold is a key assumption in the PEA's economic model.
Evidence · text
“$3,400/oz gold ("Au")”
Fact 16Carangas Project · zincView all detailsHide details
Identity
- Project
- Carangas Project
- Commodity
- zinc
- Ticker
- NUAG.TO
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-03T00:00:00.000Z
Reasoning: The base case metal price for zinc is a key assumption in the PEA's economic model.
Evidence · text
“$1.20/pound ("lb") zinc ("Zn")”
Fact 17Carangas Project · leadView all detailsHide details
Identity
- Project
- Carangas Project
- Commodity
- lead
- Ticker
- NUAG.TO
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-03T00:00:00.000Z
Reasoning: The base case metal price for lead is a key assumption in the PEA's economic model.
Evidence · text
“$0.90/lb lead ("Pb")”
Fact 18Carangas Project · silverView all detailsHide details
Identity
- Project
- Carangas Project
- Commodity
- silver
- Ticker
- NUAG.TO
Resource Data
- Cutoff Grade
- 30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-03T00:00:00.000Z
Reasoning: The cut-off grade of 30 g/t AgEq for the mineral resource estimate is disclosed, providing transparency for resource reporting.
Positive factors
- Cut-off grade is clearly stated for the MRE
Evidence · text
“Cut-off grade of 30 g/t AgEq”
Fact 19Carangas ProjectHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Carangas Project
- Ticker
- NUAG.TO
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2023-08-25T00:00:00.000Z
Dates
- Event date
- 2026-09-03T00:00:00.000Z
Reasoning: The PEA is based on a mineral resource estimate with an effective date of August 25, 2023, which is historical data, though it was re-stated in March 2026.
Negative factors
- The MRE effective date is from 2023, indicating it is not new data
Evidence · text
“effective date of August 25, 2023, with a re-statement on March 31, 2026”
Fact 20Carangas Project · silverView all detailsHide details
Identity
- Project
- Carangas Project
- Commodity
- silver
- Ticker
- NUAG.TO
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-03T00:00:00.000Z
Reasoning: The metal price assumption for silver used in the MRE calculation is disclosed.
Evidence · text
“$41.00/oz Ag”
Fact 21Carangas Project · goldView all detailsHide details
Identity
- Project
- Carangas Project
- Commodity
- gold
- Ticker
- NUAG.TO
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-03T00:00:00.000Z
Reasoning: The metal price assumption for gold used in the MRE calculation is disclosed.
Evidence · text
“$3,300.00/oz Au”
Fact 22Carangas Project · leadView all detailsHide details
Identity
- Project
- Carangas Project
- Commodity
- lead
- Ticker
- NUAG.TO
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-03T00:00:00.000Z
Reasoning: The metal price assumption for lead used in the MRE calculation is disclosed.
Evidence · text
“$1.00/lb Pb”
Fact 23Carangas Project · zincView all detailsHide details
Identity
- Project
- Carangas Project
- Commodity
- zinc
- Ticker
- NUAG.TO
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-03T00:00:00.000Z
Reasoning: The metal price assumption for zinc used in the MRE calculation is disclosed.
Evidence · text
“$1.30/lb Zn”
Fact 24Carangas Project · copperView all detailsHide details
Identity
- Project
- Carangas Project
- Commodity
- copper
- Ticker
- NUAG.TO
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-03T00:00:00.000Z
Reasoning: The metal price assumption for copper used in the MRE calculation is disclosed.
Evidence · text
“$4.00/lb Cu”
Fact 25Carangas Project · silverView all detailsHide details
Identity
- Project
- Carangas Project
- Commodity
- silver
- Ticker
- NUAG.TO
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-03T00:00:00.000Z
Reasoning: The silver recovery assumption of 81.6% is used in the MRE calculation, but the basis for this recovery is not specified.
Negative factors
- Recovery basis (e.g., to concentrate, to payable metal) is not specified
Evidence · text
“recovery of 81.6% Ag”
Fact 26Carangas Project · goldView all detailsHide details
Identity
- Project
- Carangas Project
- Commodity
- gold
- Ticker
- NUAG.TO
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-03T00:00:00.000Z
Reasoning: The gold recovery assumption of 93.4% is used in the MRE calculation, but the basis for this recovery is not specified.
Negative factors
- Recovery basis (e.g., to concentrate, to payable metal) is not specified
Evidence · text
“93.4% Au”
Fact 27Carangas Project · leadView all detailsHide details
Identity
- Project
- Carangas Project
- Commodity
- lead
- Ticker
- NUAG.TO
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-03T00:00:00.000Z
Reasoning: The lead recovery assumption of 73.4% is used in the MRE calculation, but the basis for this recovery is not specified.
Negative factors
- Recovery basis (e.g., to concentrate, to payable metal) is not specified
Evidence · text
“73.4% Pb”
Fact 28Carangas Project · zincView all detailsHide details
Identity
- Project
- Carangas Project
- Commodity
- zinc
- Ticker
- NUAG.TO
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-03T00:00:00.000Z
Reasoning: The zinc recovery assumption of 66.9% is used in the MRE calculation, but the basis for this recovery is not specified.
Negative factors
- Recovery basis (e.g., to concentrate, to payable metal) is not specified
Evidence · text
“66.9% Zn”
Fact 29Carangas Project · copperView all detailsHide details
Identity
- Project
- Carangas Project
- Commodity
- copper
- Ticker
- NUAG.TO
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-03T00:00:00.000Z
Reasoning: The copper recovery assumption of 38.7% is used in the MRE calculation, but the basis for this recovery is not specified.
Negative factors
- Recovery basis (e.g., to concentrate, to payable metal) is not specified
Evidence · text
“38.7% Cu”
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.