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New Pacific Metals Reports Financial Results for the Three and Nine Months Ended March 31, 2019
VANCOUVER, British Columbia, May 27, 2019 (GLOBE NEWSWIRE) -- New Pacific Metals Corp. (“New Pacific” or the “Company”) (TSX-V:NUAG) (OTCQX:NUPMF) today announc
About this update from New Pacific Metals Corp
[{"type":"text","content":" VANCOUVER, British Columbia, May 27, 2019 (GLOBE NEWSWIRE) -- New Pacific Metals Corp. (“New Pacific” or the “Company”) (TSX-V:NUAG) (OTCQX:NUPMF) today announced its unaudited condensed consolidated interim financial results for the three and nine months ended March 31, 2019. This news 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 under the Company’s profile 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 unless otherwise stated. FINANCIALS Net loss attributable to equity holders of the Company for the three months ended March 31, 2019 was $359 or $0.00 per share (three months ended March 31, 2018 - net loss of $258,719 or $0.00 per share). The Company’s financial results were mainly impacted by the following: (i) income from investments of $1,552,446 compared to loss of $35,551 in the prior year quarter, (ii) operating expenses of $1,128,183 compared to $748,893 in the prior year quarter, and (iii) foreign exchange loss of $431,492 compared to gain of $474,432 in the prior year quarter. For the nine months ended March 31, 2019, net loss attributable to equity holders of the Company was $279,104 or $0.00 per share compared to net loss of $2,906,517 or $0.02 per share for the nine months ended March 31, 2018. Income from investments for the three months ended March 31, 2019 was $1,552,446 (three months ended March 31, 2018 – loss of $35,551). Within the income from investments, $464,481 was gain on the Company’s equity investments and $1,064,994 was gain from fair value change and interest earned on bonds. For the nine months ended March 31, 2019, income from investments was $1,735,569 compared to loss of $543,962 for the nine months ended March 31, 2018. Operating expenses for the three and nine months ended March 31, 2019 were $1,128,183 and $2,318,178, respectively (three and nine months ended March 31, 2018 – $748,893 and $2,487,090, respectively). Foreign exchange loss for the three months ended March 31, 2019 was $431,492 (three months ended March 31, 2018 – gain of $474,432). The Company holds a large portion of cash and cash ...