New Pacific Metals Corp. has transitioned its interim leadership team to permanent roles while securing significant funding for its Bolivian mining projects. The company announced the permanent appointments of Jalen Yuan as Chief Executive Officer and Chester Xie as Chief Financial Officer, with Yuan also joining the board of directors. Both executives were initially appointed to interim positions in April 2025 and have since overseen progress in permitting efforts and strengthened the company's relationships with capital markets.
The leadership transition coincides with a major capital raise that positions New Pacific for its next development phase. In early October, the company 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. According to the company, net proceeds will be designated for exploration and further development of the Carangas and Silver Sand projects, as well as for working capital and general corporate purposes.
Board Chair Dickson Hall expressed confidence in the new leadership team, stating the company looks forward to working with Yuan and Xie as it advances its projects in Bolivia. The permanent appointments follow what the company describes as a period of robust performance under the interim leadership. New Pacific operates three precious metal projects in Bolivia, with the Silver Sand project having potential to become one of the world's largest silver mines.
The company is also advancing its Carangas project, described as a robust, high-margin silver-lead-zinc operation. Additional information about the company's projects and recent developments is available through its corporate communications. The latest news and updates relating to New Pacific Metals are accessible in the company's newsroom at https://ibn.fm/NEWP. The original announcement about the leadership appointments and funding can be viewed at https://ibn.fm/X5prf.
This leadership stabilization and capital infusion comes at a critical juncture for New Pacific as it seeks to advance its Bolivian assets toward production. The company's ability to secure substantial funding during the interim leadership period suggests investor confidence in both the management team and the underlying projects. With permanent leadership now in place and additional capital secured, New Pacific appears positioned to accelerate development of what could become significant silver production assets in South America. The funding provides essential resources for advancing permitting, exploration, and development activities that are crucial for bringing these projects to production. The combination of experienced leadership and substantial capital creates a foundation for executing the company's strategic plans in a region with significant mineral potential.
