New Pacific Reports Financial Results for the Three and Nine Months Ended March 31, 2015
VANCOUVER, BRITISH COLUMBIA – May 14, 2015: New Pacific Metals Corp. (“New Pacific” or the “Company”) today announced its unaudited condensed consolidated interim financial results for the three and nine months ended March 31, 2015.
This earnings release should be read in conjunction with the Company’s Management Discussion & Analysis, Financial Statements and Notes to Financial Statements for the corresponding period, which have been posted on SEDAR at www.sedar.com and are also available on the Company’s website at www.newpacificmetals.com. All figures are expressed in Canadian Dollars (CAD) unless otherwise stated.
FIRST QUARTER FINANCIAL HIGHLIGHTS
For the three months ended March 31, 2015, the Company reported net income attributable to equity holders of $1,588,543 or $0.02 per share compared to net income of $418,310 or $0.01 per share in the same prior year period.
For the nine months ended March 31, 2015, the Company reported net income attributable to equity holders of $2,548,549 or $0.04 per share compared to the net loss attributable to equity holders of $460,896 or $0.01 per share in the same prior year period.
Excluding effects from foreign exchange and other non-cash expenses, the Company recorded cash expenses of $279,710 and $804,168 in the three and nine months, respectively, ended March 31, 2015 compared to $394,397 and $1,253,831 in the same prior year period.
As at March 31, 2015, the Company had $24.1 million in cash and cash equivalents and short term investments.
ABOUT NEW PACIFIC
New Pacific is a Canadian gold and silver exploration and development company which owns the Tagish Lake gold project in Yukon, Canada and the RZY Project in Qinghai Province, China.
For further information, contact:
New Pacific Metals Corp.,
Phone: (604) 633-1368
Fax: (604) 669-9387