Canada's New Pacific Metals Q1 net loss widens on higher costs
NEWP•New Pacific Metals' fiscal first-quarter net loss widened year over year as operating expenses and foreign exchange losses increased. The company reported a loss per share of $0.01.
1. Loss widens
New Pacific Metals' fiscal first-quarter net loss widened year over year, with higher operating expenses and a foreign exchange loss contributing. The company recorded a foreign exchange gain in the prior-year period and reported a loss per share of $0.01.
2. Carangas project
The company advanced its Carangas project with signed mining contracts and an updated economic assessment, and reported increased capitalized project expenditures during the quarter. It did not provide specific financial or operational guidance for upcoming periods.
