New Pacific Metals (NUAG) Q1 2025 earnings summary

Executive summary

• Reported a net loss of $1.26 million for the quarter ended September 30, 2024, compared to a net loss of $1.75 million in the same quarter last year.

• Released highlights of the Carangas Preliminary Economic Assessment (PEA), projecting a post-tax NPV (5%) of $501 million and IRR of 26% at base case metal prices.

• Carangas project expected to have a 16-year life of mine, producing 106 Moz silver, 620 Mlbs zinc, and 382 Mlbs lead.

Financial highlights

• Operating expenses for the quarter were $1.61 million, down from $1.87 million year-over-year.

• Income from investments rose to $0.25 million from $0.02 million year-over-year.

• Foreign exchange gain of $0.10 million, up from $0.05 million in the prior year.

• Working capital as of September 30, 2024, was $20.36 million.

Outlook and guidance

• Carangas PEA indicates a 3.2-year post-tax payback period and average LOM all-in sustaining cost of $7.60/oz silver, net of by-products.

• Approximately 500 direct permanent jobs projected to be created at Carangas.