In comparison, according to a statement, the Vancouver-based company had lost more than $1.5 million in investment income in fiscal year 2018.
For the fiscal year that ended on June 30, New Pacific said most of the profits made on investments were due to the fair value change on bonds and interest earned.
The company also reported a narrowing net loss of $2.4 million, or $0.02 a share, compared to a net loss of $4.1 million, or $0.03 a share, at the end of June 30, 2018.
Higher operating expenses and foreign exchange losses impacted New Pacific’s bottomline as well.
New Pacific is exploring and developing precious and base metals properties in South America, Canada and China. Its flagship property is the Silver Sand project in the Potosí Department of Bolivia.
Other fiscal 2019 highlights:
- Successfully completed the 2018 drill program on the Silver Sand Property. A total of 55,010 metres in 195 HQ size diamond core drill holes had been completed.
- Expanded the Silver Sand Property by acquiring 100% interest of certain mineral concessions in the adjacent area.
- Entered into a mining production contract with La Corporación Minera de Bolivia to explore and mine the area adjoining the Silver Sand Property.
The company's stock closed up 0.35% to C$2.90 in Canada and ticked up slightly by 0.07% to US$2.21 on the OTC Markets.
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