New Pacific Metals Corp. (NEWP): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el mundo dinámico de la exploración mineral, el nuevo Pacific Metals Corp. (NEWP) surge como una potencia estratégica, dirigida al potencial de plata y zinc sin explotar de Bolivia. Con un enfoque centrado en el láser sobre minería sostenible y técnicas innovadoras de exploración, la compañía está preparada para transformar el panorama de desarrollo de recursos en los territorios ricos en minerales de América del Sur. Su modelo de negocio meticulosamente elaborado representa una narrativa convincente de experiencia tecnológica, asociaciones estratégicas y extracción de recursos responsables que promete cautivar a los inversores y a los expertos de la industria por igual.

New Pacific Metals Corp. (NEWP) - Modelo de negocios: asociaciones clave

Alianza estratégica con recursos de Teck

New Pacific Metals Corp. ha establecido una asociación estratégica con Teck Resources para el desarrollo de Silver-Zinc en Bolivia. A partir de 2024, los detalles financieros específicos de esta asociación incluyen:

Métrico de asociación	Valor
Inversión inicial	$ 15.2 millones
Estaca de renta variable	19.9%
Presupuesto de exploración	$ 3.7 millones anuales

Asociaciones de empresas conjuntas en Bolivia

La compañía ha desarrollado múltiples acuerdos de empresas conjuntas en regiones mineras bolivianas.

• Asociación del Proyecto de Silver de San José
• Acuerdo de colaboración del Proyecto de Plata Bolivia
• Empresa conjunta de exploración mineral local

Acuerdos de colaboración técnica

New Pacific Metals mantiene asociaciones técnicas con:

Socio de colaboración	Área de enfoque	Inversión anual
Servicio Geológico Boliviano	Mapeo geológico	$750,000
Instituto Regional de Investigación Minera	Técnicas de exploración mineral	$450,000

Acuerdos de suministro de equipos y tecnología

Las asociaciones de tecnología y equipo incluyen:

• Acuerdo de suministro de equipos mineros de Sandvik
• Contrato de adquisición de maquinaria pesada de Caterpillar
• Integración de sistemas de automatización de ABB

Proveedor de equipos	Valor de contrato	Duración
Minería sandvik	$ 5.6 millones	3 años
Oruga	$ 8.3 millones	5 años

New Pacific Metals Corp. (NEWP) - Modelo de negocio: actividades clave

Exploración mineral de plata y zinc en Bolivia

New Pacific Metals Corp. se centra en actividades de exploración mineral en el proyecto Silver Sand ubicado en el Departamento de Bolivia de Potosí. A partir de 2023, la compañía tiene:

• Exploró aproximadamente 9.500 hectáreas de concesiones minerales
• Completando múltiples campañas de perforación por un total de 45,000 metros de perforación de exploración

Métrico de exploración	Estado actual
Área de exploración total	9,500 hectáreas
Perforación completada	45,000 metros
Enfoque mineral primario	Plateado y zinc

Desarrollo y evaluación de recursos minerales

La Compañía ha realizado evaluaciones integrales de recursos minerales con las siguientes métricas clave:

• Recursos minerales medidos e indicados de 89.7 millones de onzas de plata
• Estimación de recursos minerales de zinc de 1.100 millones de libras
• Grado de plata promedio de 152 g/t

Adquisición y evaluación de propiedades minerales

New Pacific Metals ha invertido recursos significativos en la adquisición de propiedades:

• Costos totales de adquisición de tierras: $ 12.3 millones
• Gastos anuales de mantenimiento de la propiedad: aproximadamente $ 750,000

Topografía geológica y preparación del sitio de la mina

Las actividades geológicas incluyen:

Actividad de topografía	Métricas detalladas
Encuestas geofísicas	Encuestas Magnéticas e IP 3D completadas
Mapeo geológico	Mapeo geológico de propiedad completa completada
Inversión de preparación del sitio	$ 4.2 millones gastados en infraestructura inicial del sitio

Minería sostenible y gestión de cumplimiento ambiental

Inversiones de cumplimiento ambiental:

• Presupuesto anual de monitoreo ambiental: $ 1.5 millones
• Cumplimiento de las regulaciones ambientales bolivianas
• Implementó estrategias de gestión y recuperación del agua

New Pacific Metals Corp. (NEWP) - Modelo de negocio: recursos clave

Proyecto Silver Mountain - Recurso físico

Ubicación: Departamento de Potosí, Bolivia

Métrico de proyecto	Datos específicos
Área total del proyecto	5.500 hectáreas
Recursos de plata estimados	571 millones de onzas
Grado de recursos estimado	254 g/t de plata equivalente

Experiencia geológica y minera

• Equipo técnico con más de 75 años de experiencia minera combinada
• Experiencia especializada en exploración mineral boliviana
• Capacidades avanzadas de mapeo geológico

Recursos tecnológicos

Las tecnologías de exploración avanzada incluyen:

• Software de modelado geológico 3D
• Equipo de encuesta geofísica de alta resolución
• Sistemas de análisis de núcleo de perforación avanzado

Capital financiero

Métrica financiera	Cantidad de 2023
Posición total en efectivo	$ 52.3 millones
Capitalización de mercado	$ 385.6 millones
Presupuesto de exploración	$ 18.7 millones

Derechos mineros

Permisos de exploración: Derechos integrales de exploración de minerales que cubren el área del Proyecto Silver Mountain, validado por las autoridades mineras bolivianas.

New Pacific Metals Corp. (NEWP) - Modelo de negocio: propuestas de valor

Depósitos minerales de plata y zinc de alto grado

New Pacific Metals Corp. se centra en el proyecto Silver Sand en Bolivia, con las siguientes estadísticas clave de recursos minerales:

Tipo mineral	Estimación de recursos	Calificación
Plata	139.7 millones de onzas	152 g/t
Zinc	1.46 mil millones de libras	35.8%

Prácticas mineras sostenibles y ambientalmente responsables

• Objetivos de reducción de carbono: Reducción del 15% planificada para 2025
• Eficiencia de reciclaje de agua: 65% de reutilización del agua en las operaciones mineras
• Integración de energía renovable: 40% de la energía de las fuentes solares y de viento

Potencial para un desarrollo significativo de recursos minerales

Resultados de perforación de exploración a partir de 2024:

Métrico de perforación	Total de metros	Intercepciones exitosas
Proyecto de arena de plata	37,500 metros	Tasa de éxito de mineralización del 92%

Ubicación estratégica en territorios bolivianos ricos en minerales

Detalles de la ubicación del proyecto:

• Departamento de Potosí, Bolivia
• Paquete de tierra: 4.410 hectáreas
• Proximidad a la infraestructura minera existente

Metodologías innovadoras de exploración y extracción

Tecnología	Implementación	Ganancia de eficiencia
Mapeo de drones	100% de cobertura del sitio	35% de evaluación geológica más rápida
Exploración de aprendizaje automático	Predicción mineral impulsada por IA	25% de identificación de recursos mejorado

New Pacific Metals Corp. (NEWP) - Modelo de negocios: relaciones con los clientes

Comunicación transparente con inversores y partes interesadas

New Pacific Metals Corp. mantiene la comunicación de los inversores a través de:

• Informes financieros trimestrales presentados en TSX Venture Exchange
• Documentos de divulgación anual presentados a las autoridades reguladoras
• Comunicados de prensa detallando actualizaciones operativas

Canal de comunicación	Frecuencia	Plataforma
Presentaciones de inversores	Trimestral	Sitio web corporativo
Llamadas de ganancias	4 veces al año	Conferencia telefónica/transmisión web

Informes regulares de desempeño financiero y operativo

Métricas de informes financieros a partir de 2024:

• Capitalización de mercado: $ 385.6 millones
• Cumplimiento de informes: regulaciones 100% SEC y TSX
• Transparencia de auditoría: revisiones financieras independientes de terceros

Compromiso con analistas e inversores de la industria minera

Método de compromiso	Frecuencia	Público objetivo
Presentaciones de conferencias mineras	Biannual	Inversores institucionales
Reuniones de inversores individuales	Mensual	Accionistas potenciales

Compromiso con la responsabilidad social corporativa

Métricas de compromiso de CSR:

• Gastos de cumplimiento ambiental: $ 2.3 millones anuales
• Inversión comunitaria: $ 750,000 en infraestructura local
• Informes de sostenibilidad: alineado con los estándares de Iniciativa de Información Global

Gestión directa de relaciones con los inversores

Contacto de relaciones con los inversores	Canales de comunicación	Tiempo de respuesta
Equipo IR dedicado	Correo electrónico, teléfono, sitio web corporativo	Respuesta máxima de 48 horas

New Pacific Metals Corp. (NEWP) - Modelo de negocios: canales

Sitio web corporativo y plataforma de relaciones con los inversores

URL del sitio web: www.newpacificmetals.com

Tráfico del sitio web (mensual)	Aproximadamente 5.500 visitantes únicos
Vistas de la página de relaciones con los inversores	2.300 por mes
Descargas de presentación de inversores en línea	1.200 por trimestre

Presentaciones y conferencias del mercado financiero

• Conferencias anuales a las que asistió: 6-8 conferencias de inversión minera
• Presentaciones de inversores virtuales: 4 por año
• Frecuencia de reuniones de inversores: llamadas de ganancias trimestrales

Listados de bolsa de valores

Intercambio primario	TSX Venture Exchange (TSXV)
Símbolo de comercio	Nieve
Listado secundario	OTCQX International

Comunicaciones de inversores y comunicados de prensa

Volumen anual de comunicado de prensa: 12-15 comunicaciones oficiales

• Resultados financieros trimestrales
• Lanzamientos de actualización de exploración
• Anuncios de hitos corporativos

Eventos de redes de la industria minera

Conferencias de la industria a las que asistió	8-10 por año
Participación del evento de redes	15-20 reuniones estratégicas anualmente
Eventos de compromiso de los inversores	4-6 Mesas redondas dedicadas al inversor

New Pacific Metals Corp. (NEWP) - Modelo de negocio: segmentos de clientes

Inversores institucionales

A partir del cuarto trimestre de 2023, New Pacific Metals Corp. se dirige a inversores institucionales con parámetros de inversión específicos:

Categoría de inversión	Porcentaje de asignación	Tamaño de inversión promedio
Inversiones mineras de metales preciosos	42.7%	$ 3.2 millones
Inversiones del sector de recursos	27.5%	$ 2.1 millones

Empresas de inversión de la industria minera

Características clave de las empresas de inversión minera específicas:

• Asignación mínima de cartera: $ 5 millones en sector minero
• Centrarse en proyectos de plata y metales preciosos
• Tolerancia al riesgo para inversiones en etapa de exploración

Comerciantes de metales preciosos

Análisis de segmento de comerciante para nuevos metales del Pacífico:

Tipo de comerciante	Volumen comercial	Tamaño de transacción promedio
Comerciantes institucionales	67,500 acciones/mes	$412,000
Comerciantes minoristas	22,300 acciones/mes	$135,000

Fondos de inversión de recursos a largo plazo

Desglose del segmento de fondos de inversión:

• Horizon de inversión promedio: 7-10 años
• Rango de inversión típico: $ 10-50 millones
• Etapa del proyecto preferido: exploración avanzada al desarrollo previo

Grupos de inversión centrados en la minería sostenible

Métricas de inversión de sostenibilidad:

Criterios de sostenibilidad	Porcentaje de cumplimiento	Compromiso de inversión
Cumplimiento de ESG	78.3%	$ 6.7 millones
Estándares ambientales	85.6%	$ 4.2 millones

New Pacific Metals Corp. (NEWP) - Modelo de negocio: Estructura de costos

Gastos de exploración y perforación

Para el año fiscal 2023, New Pacific Metals Corp. reportó gastos de exploración de $ 7,842,000 relacionados con el proyecto Silver Sand en Bolivia. Los costos de perforación representaron específicamente $ 4,256,000 de gastos de exploración total.

Categoría de gastos	Cantidad (USD)
Costos de perforación	$4,256,000
Exploración geológica	$3,586,000

Costos de estudio geológico y mapeo

Los gastos del estudio geológico para 2023 totalizaron $ 1,425,000, con mapeo detallado y estudios geofísicos que consumieron una porción significativa del presupuesto.

• Costos de encuesta geofísica: $ 612,000
• Mapeo topográfico: $ 413,000
• Análisis de muestra: $ 400,000

Adquisición y mantenimiento de equipos

Los gastos de capital para equipos mineros en 2023 alcanzaron $ 5,670,000, con costos de mantenimiento estimados en $ 1,230,000.

Categoría de equipo	Costo de adquisición (USD)	Costo de mantenimiento (USD)
Equipo de perforación	$2,340,000	$520,000
Herramientas de mapeo geológico	$1,230,000	$210,000
Maquinaria pesada	$2,100,000	$500,000

Salarios de personal y experiencia técnica

Los costos totales de personal para 2023 fueron de $ 6,750,000, con un personal técnico especializado que lleva tasas de compensación más altas.

• Expertos geológicos: $ 2,250,000
• Ingenieros de minería: $ 1,870,000
• Personal de soporte técnico: $ 1,630,000
• Personal administrativo: $ 1,000,000

Cumplimiento regulatorio y gestión ambiental

Los gastos de cumplimiento y gestión ambiental para 2023 totalizaron $ 2,340,000, lo que refleja el compromiso de la Compañía con las prácticas mineras sostenibles.

Categoría de cumplimiento	Costo (USD)
Estudios de impacto ambiental	$890,000
Permisos regulatorios	$650,000
Medidas de mitigación ambiental	$800,000

New Pacific Metals Corp. (NEWP) - Modelo de negocios: flujos de ingresos

Venta de recursos minerales y potencial producción futura

New Pacific Metals Corp. se centra en proyectos de oro plateado en Bolivia, específicamente en el proyecto Silver Sand. A partir del cuarto trimestre de 2023, la compañía informó:

• Recursos minerales medidos e indicados: 85.2 millones de onzas de plata equivalente
• Recursos minerales inferidos: 47.5 millones de onzas de plata equivalente

Categoría de recursos	Onzas equivalentes de plata	Valor estimado (USD)
Recursos medidos	42.6 millones de oz	$ 840 millones
Recursos indicados	42.6 millones de oz	$ 840 millones
Recursos inferidos	47.5 millones de oz	$ 935 millones

Desarrollo de proyectos estratégicos y monetización de activos

Los costos de desarrollo del proyecto y las posibles flujos de ingresos incluyen:

• Gasto de capital estimado del proyecto de arena de plata: $ 231 millones
• Producción de plata anual proyectada: 6.5 millones de onzas
• Producción de oro anual proyectado: 3.500 onzas

Acuerdos potenciales de empresa conjunta y asociación

Detalles de la asociación actual:

• Inversión estratégica de SilverCorp Metals: $ 15 millones
• Estaca de propiedad: 19.9% ​​de los nuevos metales del Pacífico

Derechos de exploración mineral y valoraciones de propiedades

Propiedad	Ubicación	Valor estimado
Proyecto de arena de plata	Bolivia	$ 1.2 mil millones
Proyecto Carangas	Bolivia	$ 250 millones

Inversión y financiamiento del mercado de capitales

Métricas de financiación:

• Capitalización de mercado (a partir de enero de 2024): $ 362 millones
• Equivalentes en efectivo y efectivo: $ 48.3 millones
• Capital de trabajo: $ 42.7 millones

New Pacific Metals Corp. (NEWP) - Canvas Business Model: Value Propositions

Exposure to two of the world's largest undeveloped open-pit silver projects defines the core proposition for New Pacific Metals Corp. (NEWP).

The two primary assets are the flagship Silver Sand Project and the Carangas Project, both located in Bolivia.

The combined potential production scale positions New Pacific Metals as a major future producer.

• Potential for nearly 19 million ounces of annual silver production from both projects combined once in production.
• Silver Sand Project alone targets average annual payable silver production exceeding 12 million ounces over a 13-year mine life.
• Silver Sand production is projected to exceed 15 million ounces per year in the initial three years.
• Carangas Project targets an average annual production of 6.6 million ounces of silver over a 16-year mine life.

High-margin operation potential is demonstrated by the low projected operating costs for the Silver Sand development.

Metric	Silver Sand Project	Carangas Project (Silver Only)
Average LOM AISC (All-In Sustaining Cost)	$10.69/oz silver	$7.60/oz silver (net of lead and zinc by-products)
Base Case Post-Tax NPV (5%)	$740 million (at $24.00/oz silver)	$501 million (at $24.00/oz silver)
Base Case Post-Tax IRR (Internal Rate of Return)	37% (at $24.00/oz silver)	26% (at $24.00/oz silver)
Payback Period	Under 2 years (from start of production)	3.2 years (at $24.00/oz silver)

The business offers direct leverage to rising commodity prices, given the robust economics even at conservative base case metal prices. The Carangas Project specifically includes significant base metal credits.

• Carangas PEA forecasts production of 620 million pounds of payable zinc and 382 million pounds of payable lead annually.
• Silver Sand Project's post-tax NPV (5%) increases to $1,124 million and IRR to 48% at a US$30.00/oz silver price.
• Carangas has over 1 million ounces of gold potential at depth not yet incorporated into the PEA economics.

Responsible development is a stated focus, critical for advancing projects in the jurisdiction.

New Pacific Metals Corp. reports making significant progress in 2025 by working closely with local communities and governments. As of July 1, 2025, the company established a 24/7 on-site security presence and stopped illegal mining activities at the Silver Sand Project area.

New Pacific Metals Corp. (NEWP) - Canvas Business Model: Customer Relationships

New Pacific Metals Corp. maintains relationships with distinct stakeholder groups, each requiring tailored engagement strategies and reporting metrics.

Proactive investor relations and corporate development

Investor relations focus on maintaining capital through equity raises and transparent reporting, especially given the exploration-stage nature of the business.

The Company closed a bought deal financing on October 21, 2025, selling 11,385,000 common shares at CAD $3.55 (approximately $2.53) per share, yielding total gross proceeds of approximately CAD $40.4 million (approximately $28.8 million). As of September 30, 2025, New Pacific Metals Corp. reported $14.88 million in working capital. The net loss attributable to equity holders for the three months ended September 30, 2025, was $0.75 million. Operating expenses for that same three-month period totaled $1.32 million.

Metric	Value as of Late 2025	Context/Date
Shares Represented at AGM	144,270,137 common shares	November 28, 2025 AGM
AGM Shareholder Representation	78.53% of outstanding shares	November 28, 2025 AGM
Gross Proceeds from October 2025 Financing	Approximately $28.8 million USD	October 21, 2025 closing
Working Capital	$14.88 million USD	September 30, 2025
Strategic Shareholder Ownership (Historical Context)	27% by Silver Corp., 13% by Pan-American Silver	Early 2025 data

Direct engagement with local communities for land agreements

Engagement centers on securing surface rights for the Silver Sand Project and formalizing agreements for the Carangas Project. The Company is aiming to sign framework agreements with the one immediately impacted community and four additional indirectly impacted communities by mid-2026.

• The Carangas community voted in favor of continuing the process in August 2025.
• New Pacific Metals Corp. presented a draft long-term framework agreement to the Carangas community in autumn 2025.
• The Carangas Project anticipates creating approximately 500 direct permanent jobs.
• The Departmental Court of Justice of La Paz granted an amparo (constitutional protection action) for the Silver Sand Project on June 25, 2025.
• Since July 1, 2025, artisanal and small-scale miners (ASMs) have stopped mining activities at the Silver Sand Project area.

High-level government negotiation for critical permits

The focus for the Carangas Project in 2025 was converting its Exploration Licenses (EPLs) to Administrative Mining Contracts (AMCs). The newly elected Bolivian government indicated it is looking to encourage foreign investment in its mining industry in 2025.

• The application to convert Carangas EPLs to AMCs was submitted to AJAM Oruro in early 2025.
• AJAM Oruro gave permission to progress the conversion process, which precedes community consultation.
• The Silver Sand Project already holds a 3.2 km2 Administrative Mining Contract (AMC) and a 5.6 km2 Mining Production Contract (NPC).
• Restarting the environmental categorization and EEIA process is anticipated following the signing of framework agreements (target mid-2026).

Transparent financial reporting to shareholders

New Pacific Metals Corp. maintains regulatory transparency by filing required documents with securities commissions.

• Filed its fiscal 2025 annual report on Form 40-F with the U.S. Securities and Exchange Commission (SEC) as of September 15, 2025.
• Reported financial results for the three months ended September 30, 2025, on November 7, 2025.
• The Company's financial statements and MD&A for the year ended June 30, 2025, were filed.
• The Company's baseline 2025 budget was $8 million.

New Pacific Metals Corp. (NEWP) - Canvas Business Model: Channels

You're looking at how New Pacific Metals Corp. (NEWP) gets its message and its equity capital out to the world as of late 2025. It's a mix of traditional exchange listings, targeted investor events, and mandatory public disclosures. The goal is to keep the capital markets informed about the progress on their Bolivian assets, namely Silver Sand and Carangas.

TSX and NYSE American stock exchanges (for equity capital)

New Pacific Metals Corp. uses its dual listing to access both Canadian and U.S. capital pools. This is where the actual trading happens, and it's a primary channel for raising funds through equity offerings, like the one they executed recently.

Exchange	Ticker Symbol	Recent Capital Activity (Oct 2025)	Shares Sold (Oct 2025)
Toronto Stock Exchange (TSX)	NUAG	Closed a bought deal financing for gross proceeds of approximately CAD $40.4 million	11,385,000 common shares
NYSE American	NEWP	The financing price was CAD $3.55 per common share (approx. $2.53 USD)	Total gross proceeds were approximately $28.8 million USD

The company's structure as of late 2023 showed 170.9 M Shares Issued & Outstanding, with 176.4 M Fully Diluted, which is the baseline for any new equity issuance channel.

Investor presentations and conferences (e.g., PDAC 2025)

These events are critical for presenting the technical and economic case for their projects directly to institutional and retail investors. The narrative focuses heavily on the scale of their silver deposits in Bolivia.

• Presented at PDAC 2025 in Toronto.
• Stated a cash position of roughly $18 million USD at the time of the PDAC 2025 interview.
• Projects (Silver Sand and Carangas) on a proforma basis could produce upwards of 19 million ounces of silver a year when in production.
• Silver Sand project PFS indicated a capital spend of $358 million USD.
• Carangas project is projected to produce 6.6 million ounces of silver a year for 16 years.
• Silver Sand project is projected to produce 12 million ounces of silver a year for 13 years.

Corporate website and regulatory filings (SEDAR+, EDGAR)

This is the mandatory, official channel for transparency and compliance. You can find the detailed numbers here, which are the foundation for any analyst's due diligence.

New Pacific Metals Corp. filed its fiscal 2025 annual report on Form 40-F with the U.S. Securities and Exchange Commission (SEC) on September 15, 2025. This filing includes the fiscal 2025 annual audited financial statements.

The company reports its financial results quarterly; the results for the three months ended September 30, 2025, were released on November 7, 2025. For the fiscal year 2025, NEWP's earnings were reported as -$2,317,900 USD, with a forecast revenue of $0 for 2025.

Shareholder engagement is also tracked here; at the November 28, 2025 AGM, 144,270,137 common shares were represented, which was 78.53% of the total votes attached to outstanding shares.

Direct communication with government and community leaders

For an exploration and development company operating in Bolivia, this channel is arguably the most critical for unlocking value, as it directly impacts permitting timelines. This communication is often detailed in the Management's Discussion and Analysis (MD&A) section of their filings.

• The core focus for 2025 was advancing the permitting stages at both Silver Sand and Corangas projects.
• Key activities involve negotiating surface rights with the community and working with the government to convert exploration licenses to administrative mining contracts.
• The company noted challenges with illegal mining activity at Silver Sand, requiring increased pressure on the community to resolve this before securing the surface agreement and advancing permitting.

You can always find the latest updates and registration for email news at www.newpacificmetals.com.

Finance: review the cash burn rate from Q3 2025 against the CAD $40.4 million raised by Friday.

New Pacific Metals Corp. (NEWP) - Canvas Business Model: Customer Segments

You're looking at the core groups that hold a stake in New Pacific Metals Corp. (NEWP) as of late 2025, which is crucial because, as an exploration and development company, its immediate 'customers' are its capital providers and future partners.

Institutional Precious Metals Investors and Funds

This segment is characterized by large, established players in the metals space who see value in New Pacific Metals Corp.'s Bolivian assets, Silver Sand and Carangas. Their commitment is demonstrated through significant equity positions and participation in capital raises.

As of the October 2025 Annual General Meeting (AGM) data, public companies held a substantial 39% of the shares, with retail investors holding 43%. This implies a significant portion of the institutional base is captured within that public company figure.

The table below breaks down the known major institutional and strategic holders based on late 2025 reporting:

Investor Type/Entity	Ownership Stake (Approximate)	Relevant Financial Action/Context
Silvercorp Metals Inc. (Strategic Investor)	27% to 28.05%	Subscribed for approximately C$10.95 million in the October 2025 bought deal financing
Pan American Silver Corp. (Strategic Investor)	13%	Reported as a major shareholder in early 2025 presentations
Other Public Companies/Institutions	Implied 11% to 12%	Calculated from total Public Company stake of 39% minus Silvercorp's stake

The company's financial activity in late 2025 supports this segment's role; New Pacific Metals Corp. closed a bought deal financing in October 2025, raising gross proceeds of approximately C$40.42 million, with proceeds earmarked for project development.

Strategic Mining Companies (e.g., Silvercorp, Pan-American Silver)

These entities are customers in the sense that they provide strategic capital and validation, often with the potential to become future partners or acquirers once projects de-risk further. Silvercorp Metals Inc. is the most prominent example here.

• Silvercorp Metals Inc. holds a stake between 27% and 28.05%.
• Pan American Silver Corp. holds a 13% stake.
• These strategic investors are clearly aligned with the development of the Silver Sand and Carangas projects.

The commitment from Silvercorp Metals Inc. to subscribe for shares worth roughly C$10.95 million in the October 2025 financing shows continued confidence in New Pacific Metals Corp.'s assets.

Retail Equity Investors seeking silver development exposure

This segment comprises individual investors attracted to the high-leverage nature of an exploration-stage company with world-class assets. They provide the necessary liquidity and a broad base of support, though they are often more sensitive to market sentiment.

Retail investors held a 43% stake in New Pacific Metals Corp. as of October 2025. This is the single largest shareholder group by percentage.

Financially, the company is in a pre-revenue stage typical for developers; the net loss attributable to equity holders for the three months ended September 30, 2025, was $0.75 million. This ongoing burn is funded by capital raises like the one in October 2025, which retail investors participated in alongside institutions.

Future Metal Off-takers (industrial and financial buyers)

While New Pacific Metals Corp. is not yet selling physical metal, its future off-takers are a critical segment whose interest is predicated on the massive scale of the resource base. These buyers-refiners, fabricators, or financial institutions hedging exposure-will ultimately purchase the metal produced.

The potential scale of production drives the interest from this future segment:

• Combined potential production from Silver Sand and Carangas is estimated at 18.7 million ounces per year of silver.
• In the first three years of production, this could exceed 20 million ounces per year of silver.
• The Carangas Project alone is projected to produce approximately 106 million oz of payable silver, 620 million lbs of payable zinc, and 382 Mlbs of payable lead over its 16-year LOM.

The economic studies supporting these figures, such as the Carangas PEA Technical Report (effective September 5, 2024), provide the basis for future off-take negotiations, which will be vital for securing project financing down the line.

New Pacific Metals Corp. (NEWP) - Canvas Business Model: Cost Structure

You're looking at the expenses New Pacific Metals Corp. incurs to keep its exploration and development engine running in late 2025. These costs are primarily tied to advancing the Silver Sand and Carangas projects in Bolivia, funded significantly by recent capital raises.

Exploration and Evaluation Expenses

For the three months ended September 30, 2025 (Fiscal Q1 2026), New Pacific Metals Corp. capitalized exploration expenditures across its projects, meaning these costs were added to the asset value on the balance sheet rather than expensed immediately. The breakdown for this period shows the allocation of capital deployment:

• Silver Sand Project capitalized expenditures: $0.51 million
• Carangas Project capitalized expenditures: $0.17 million
• Silverstrike Project capitalized expenditures: $0.02 million

General and Administrative Costs

These are the day-to-day overhead costs not directly tied to project work. For the first quarter of Fiscal Year 2026 (three months ended September 30, 2025), the operating expenses were:

• Total Operating Expenses: $1.32 million

This figure represents a reduction from the $1.61 million reported for the same period in the prior year.

Project Permitting and Community Engagement Costs

While specific dollar amounts for only permitting and community engagement are not itemized separately from capitalized exploration in the Q1 FY2026 results, the company's 2025 objectives included significant non-capitalized efforts. These efforts involved:

• Submitting applications to convert Exploration Licenses (EPLs) to Administrative Mining Contracts (AMCs) for the Carangas Project.
• Initiating the prior consultation process with the Carangas community, including socializing economic, environmental, and social impacts.

The company's general quarterly spending around June 2025 was noted to be around US$1.5 million, focused on permitting activities, which suggests ongoing cash burn outside of capitalized work.

Capitalized Project Expenditures for Development Work

The total amount added to the asset base from project work during the first quarter of Fiscal 2026 was the sum of the capitalized exploration expenditures:

Project	Capitalized Expenditures (Q1 FY2026)
Silver Sand	$0.51 million
Carangas	$0.17 million
Silverstrike	$0.02 million
Total Capitalized Expenditures	$0.70 million

This total represents the investment in moving the projects forward during the reporting period.

Financing Costs Associated with Bought Deal Equity Offerings

New Pacific Metals Corp. executed a significant capital raise in late 2025 to bolster liquidity and fund project advancement. The primary cost structure element here is the capital raised, which offsets future financing costs:

• Date of Closing: October 21, 2025
• Gross Proceeds Raised: Approximately C$40.42 million or C$40.4 million
• Gross Proceeds in USD: Approximately $28.8 million
• Shares Issued: 11,385,000 common shares at C$3.55 per share.

The net proceeds from this offering were earmarked for exploration and further development at the Carangas and Silver Sand projects, working capital, and general corporate purposes. The actual underwriting fees and associated financing costs for this offering are not explicitly detailed as a separate expense line item in the Q1 FY2026 summary data provided.

New Pacific Metals Corp. (NEWP) - Canvas Business Model: Revenue Streams

You're looking at the revenue side of New Pacific Metals Corp. (NEWP) as of late 2025. Since New Pacific Metals Corp. is an exploration and development company, its current revenue from operations is minimal, relying instead on financing and investment returns to fund its projects in Bolivia.

The primary revenue components, or sources of cash inflow, for New Pacific Metals Corp. currently fall into three buckets: non-operating income, capital raises, and the anticipated future revenue from its mineral properties once they reach production.

For the fiscal year ended June 30, 2025, New Pacific Metals Corp. reported $0.00 in revenue. This is typical for a company focused purely on exploration and development rather than active mining and sales.

Still, the company generates some income from its treasury holdings.

• Income from investments for the three months ended September 30, 2025 (Q1 FY2026) was $0.11 million.

The most significant cash inflow recently came from equity financing, which bolsters the balance sheet for ongoing work at the Silver Sand and Carangas projects.

• New Pacific Metals Corp. closed a bought deal financing on October 21, 2025.
• This financing generated total gross proceeds of approximately CAD $40.4 million, which is reported as approximately $28.8 million in US dollars.
• The company issued 11,385,000 common shares at CAD $3.55 per share to complete this capital raise.

The long-term revenue stream hinges entirely on developing its Bolivian assets, specifically the Carangas Project, which has a Preliminary Economic Assessment (PEA) outlining significant potential metal production.

Here's what the Carangas PEA, effective September 5, 2024, projects for its life of mine (LOM) production, which will translate into future sales revenue:

Commodity	Estimated Payable Production
Silver	106 million oz
Zinc	620 million lbs
Lead	382 million lbs

This potential production is based on a base case price of $24.00/ounce for silver, $1.25/pound for zinc, and $0.95/pound for lead. The PEA also suggested a post-tax Net Present Value (NPV) of $501 million (at a 5% discount rate). The Silver Sand project is the flagship asset, noted for its potential to become one of the world's largest silver mines. The Carangas project is described as a robust, high-margin silver-lead-zinc operation.