New Pacific Metals Corp. Announces
Results For The Second Quarter Ended December 31, 2011
New Pacific Metals Corp. (the �Company�) announces its unaudited consolidated financial results
for the second quarter ended December 31, 2011. All figures are expressed in
Canadian Dollars (CAD$) unless otherwise stated.
SECOND QUARTER FINANCIAL HIGHLIGHTS
For the quarter ended December 31, 2011 (�Q2 2012�),
the Company recorded loss of $1,036,123 or $0.015 per share compared to loss of
$1,508,843 or $0.027 per share for the quarter ended December 31, 2010 (�Q2
2011�).
Significant highlights of the quarter are as follows:
- Excluding foreign exchange loss
of $451,330, the Company incurred total operating expenses of $649,802, a
decrease of $626,825 or 49% compared to $1,276,627 in Q2 2011.
- Incurred capitalized
exploration and development expenditures of $1,141,210 at the Tagish Lake Gold Property.
As of December 31, 2011, the Company has a working
capital position of $31,506,742 (June 30, 2011 - $37,232,868). Cash and cash
equivalents amounted to $22,937,538 (June 30, 2011 - $20,625,672). With a
strong working capital, the Company is well positioned financially to continue
development of the Tagish Lake Gold Property.
The Company�s unaudited Condensed Consolidated Interim
Financial Statements and Management�s Discussion and Analysis are available for
review on our website at www.newpacificmetals.com and through SEDAR at
www.sedar.com.
About New Pacific
Metals Corp.
New Pacific Metals Corp. is a Canadian near-term gold and silver production mining company
engaged in the exploration and development of gold poly-metallic properties in
the Yukon, Canada. The Company's current project is the Tagish
Lake Gold Property in Yukon Territory. With experienced management and
sufficient technical and financial resources, the Company is well positioned to
build shareholder value through discovery, exploration and resource
development.