It was another rainy day in Vancouver, our umbrella had been lost into the harbour and we’d missed the morning coffee when we stopped by the New Pacific Metals Corp (TSX-V: NUAG) booth at the VRIC18. The team were enthusiastic and positive and presented well, and almost made up for the lack of caffeine available at the conference!
We’d met a few of the team the day before at the MIF where Carolina Ordoñez talked us through their silver projects in Bolivia.
Acquired in July 2017. The Alcira silver sand licences are roughly 25km northeast of the world famous Cerro Rico and have all had historic drilling programs and some small scale production as far back as the 1500’s. The cretaceous psammites that host the main body of silver extend in <125m wide stratabound folds along some 1500m NW-SE. The deposit is being subject to 50,000m of drilling since the company received suitable licences in October 2017.
See our interview with company president Gordon Neal from the VRIC18 here:
There’s a lot of variable reasons you might want to back a company, you can work solely on numbers and stats, on the quality of the ore geology and the jurisdiction’s projected/historical productivity, you can work on their commodity’s importance, or their potential to gain value. You can also just like them and get a good feeling about the team. You can enjoy the way a project is presented, and credit here (with a pinch of salt) either goes to NPM’s IR/marketing team or, to the genuinely friendly and confident team we met (its always hard to tell!), because I’ve personally fallen for NPM.
Having moved from 1.32>1.40 ($CAD, 11am, CET, 16/2/18) since the VRIC wrapped up and with early results from grab sample projects showing up to 843g/t (90.73% recoverable), we’ll be watching the upcoming drill results closely and expect big things. as an academic, the surface geology is intriguing and should yield a good extension, as an investor, the regional mining history and the strength of the board offer some confidence. Stay tuned for more updates.