New Pacific Metals Secures C$40.4 Million in Financing to Advance Bolivian Projects

The latest update is out from New Pacific Metals ( (TSE:NUAG) ).

New Pacific Metals Corp. has successfully closed a C$40.4 million bought deal financing, selling over 11 million common shares at C$3.55 each. The proceeds will be used for exploration and development of its Carangas and Silver Sand projects, as well as for general corporate purposes. The financing saw significant participation from related parties Silvercorp Metals Inc. and Pan American Silver Corp., which now hold 27.99% and 11.47% of New Pacific’s outstanding shares, respectively. This transaction strengthens New Pacific’s financial position and supports its strategic focus on advancing its Bolivian projects.

The most recent analyst rating on (TSE:NUAG) stock is a Buy with a C$3.40 price target. To see the full list of analyst forecasts on New Pacific Metals stock, see the TSE:NUAG Stock Forecast page.

Spark’s Take on TSE:NUAG Stock

According to Spark, TipRanks’ AI Analyst, TSE:NUAG is a Underperform.

New Pacific Metals faces significant financial challenges with no revenue and ongoing losses typical of exploration-stage mining companies. While the absence of debt and a strong equity position are positives, the negative cash flow and lack of technical momentum weigh heavily on its score. The valuation is difficult due to negative earnings, making the stock a high-risk investment.

To see Spark’s full report on TSE:NUAG stock, click here.

More about New Pacific Metals

New Pacific Metals is a Canadian exploration and development company focusing on precious metal projects in Bolivia. Its flagship project is the Silver Sand Silver Project, along with the Carangas Silver-Gold Project and the Silverstrike Silver-Gold Project.

Average Trading Volume: 162,520

Technical Sentiment Signal: Strong Buy

Current Market Cap: C$614.6M

See more insights into NUAG stock on TipRanks’ Stock Analysis page.