New Pacific Metals is a Canadian junior mining company focused on exploring and developing silver and polymetallic mineral projects in Bolivia. The company has no revenue or production — it is purely exploration and development stage, funding operations through equity issuances. New Pacific's two core assets are the Silver Sand Project and the Carangas Project, both in Bolivia. Silver Sand, located in the Potosí Department, is the company's most advanced asset — a 100%-owned open pit silver deposit with 175 Moz of Proven and Probable silver reserves at 105 g/t Ag. A Prefeasibility Study envisions a 13-year mine producing silver doré at roughly 4 Mtpa throughput, with a post-tax NPV of $740M and IRR of 37% at a $24/oz silver price assumption. The next step is a full Feasibility Study, estimated to cost $5.5M. Carangas, in the Oruro Department, is a larger but earlier-stage polymetallic silver-lead-zinc deposit held through a Mining Association Contract with a Bolivian partner, giving New Pacific a 98% economic interest. Its PEA outlines a 16-year mine producing silver/lead and zinc/silver concentrates, with a post-tax NPV of $501M. New Pacific's path to monetization runs through technical de-risking, then securing the hundreds of millions in project financing needed to build either mine, then selling doré or concentrates into commodity markets at prevailing silver, zinc, and lead prices. Key risks include Bolivia's political environment, legislative ratification requirements, permitting uncertainty, and competition for capital.