New Pacific Metals Corp. (NYSE American: NEWP) (TSX: NUAG) has made permanent the appointments of Jalen Yuan as Chief Executive Officer and Chester Xie as Chief Financial Officer, following a period of interim leadership that saw the company secure substantial financing for its Bolivian operations. Yuan will also serve on the company's board of directors. The appointments come after both executives were initially named to interim roles in April 2025 and have since overseen key advancements, including progress on permitting and strengthened relationships with capital markets.
The company's recent financial activity underscores the timing of these permanent appointments. In early October, New Pacific entered into a bought deal agreement with a syndicate of underwriters for 9.9 million common shares, generating gross proceeds of approximately C$35.1 million. The net proceeds from this financing are designated for the exploration and further development of the company's Carangas and Silver Sand projects in Bolivia, as well as for working capital and general corporate purposes. This capital injection is critical for advancing what the company describes as its flagship Silver Sand project, which has the potential to be developed into one of the world's largest silver mines.
Board Chair Dickson Hall stated the company looks forward to working with Yuan and Xie as it advances its projects in Bolivia. The leadership stabilization signals a transition from a period of fundraising and corporate structuring to a focused execution phase on the ground. The company's other key asset, the Carangas project, is a robust, high-margin silver-lead-zinc operation also slated for development with the newly raised funds.
For investors and industry observers, this news matters as it consolidates leadership at a pivotal moment for resource development in Bolivia. The successful C$35.1 million capital raise, facilitated by the interim leadership team now made permanent, provides the financial runway necessary to advance large-scale mining projects. The development of the Silver Sand project, in particular, could significantly impact global silver supply. The company's news and updates are available in its newsroom at https://ibn.fm/NEWP. The broader implications include potential job creation, economic development in Bolivia, and increased mineral output from a region gaining attention from mining firms. The permanent appointments suggest investor confidence in the current strategy and provide continuity for executing the development plans funded by the recent financing.
