New Pacific Metals Corp. Announces
Results For The Third Quarter Ended March 31, 2012
New Pacific Metals Corp. (the �Company�) announces its unaudited consolidated financial results
for the third quarter ended March 31, 2012. All figures are expressed in
Canadian Dollars (CAD$) unless otherwise stated.
THIRD QUARTER FINANCIAL HIGHLIGHTS
For the quarter ended March 31, 2012 (�Q3 2012�), the
Company recorded loss of $922,170 or $0.014 per share compared to net income of
$15,437,565 or $0.235 per share for the quarter ended March 31, 2011 (�Q3
2011�).
Significant highlights of the quarter are as follows:
- Excluding foreign exchange
loss, the Company incurred total operating expenses of $584,293, a
decrease of $81,201 or 12% compared to $665,494 in Q3 2011.
- Incurred capitalized
exploration and development expenditures of $441,435 at the Tagish Lake Gold Property as the project was on care
and maintenance in the winter.
As of March 31, 2012, the Company has a working
capital position of $30,290,259 (June 30, 2011 - $37,232,868). Cash and
cash equivalents amounted to $21,738,175 (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 Yukon, Canada. The Company's current
project is the Tagish Lake Gold Property in Yukon.
With experienced management and sufficient technical and financial resources,
the Company is well positioned to build shareholder value through discovery,
exploration and resource development.