New Pacific Reports $3.2M YTD Loss, Signs Carangas Cooperation Deal
NEWP•On Feb. 23, New Pacific signed a Framework Agreement with the Carangas community to develop the $22.22M Carangas Silver–Gold project under transparency and mutual cooperation. For Q3 and nine months ended March 31, 2026, the company posted net losses of $0.87M and $3.20M and held $39.28M in working capital.
1. Framework Agreement with Carangas
On February 23, 2026, New Pacific signed a Framework Agreement for Cooperation and Coordination with TIOC Carangas to guide development of the Carangas Silver–Gold project under principles of transparency, mutual benefit and long-term cooperation.
2. Q3 and Nine-Month Financial Results
New Pacific reported a net loss attributable to equity holders of $0.87 million in Q3 and $3.20 million year-to-date, driven by operating expenses of $1.58 million for the quarter (up from $1.40 million last year) and offset by $0.29 million in investment income.
3. Strong Working Capital Position
As of March 31, 2026, the company held $39.28 million in working capital, supporting ongoing exploration and project expenditures across its Silver Sand, Carangas and Silverstrike assets.
4. Project Expenditure Highlights
Capitalized exploration expenditures reached $119.48 million total, with Q3 spending of $0.73 million on Silver Sand, $0.56 million on Carangas and $0.01 million on Silverstrike, reflecting increased drilling and site support activities.
