Both Silvercorp Metals and Pan American Silver, current shareholders of the company, have expressed their desire to participate in the offering.
Bolivia-focused silver explorer New Pacific Metals has arranged a bought deal financing worth a total of C$35 million to fund exploration at its flagship Silver Sand project as well as the Carangas project.
Upon completion of the offering, Silvercorp and Pan American would each hold 27.4% and 11.6% of New Pacific’s outstanding share capital, assuming the overallotment option is not exercised. Earlier this year, New Pacific released a preliminary economic assessment for the project, detailing a conventional open pit and tank leach operation capable of producing on average 12 million oz. of silver per annum over a 14-year mine life.
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