Analysts from three capital markets firms returned from site visits to New Pacific Metals Corp.’s two Bolivian projects with bullish assessments, and BMO Capital Markets raised its price target on the Vancouver-based miner to $12 from $8.82. The visits, reported via NEWMEDIAWIRE, focused on the Silver Sands and Carangas projects, which the company is advancing simultaneously.
The significance lies in timing. Silver demand from electric vehicles, AI data centers and green energy continues to outstrip supply, and 2025 marked the fifth consecutive year of a supply/demand imbalance. New Pacific Metals is positioning itself to help fill that gap. Silver Sands is in the Pre-Feasibility Study phase with potential annual output of 12 million to 15 million ounces of silver, while Carangas, backed by an updated Preliminary Economic Assessment, could produce up to 15.5 million ounces annually during its initial high-grade phase and is currently hosting a 30,000-metre drill campaign.
BMO analyst Kevin O’Halloran cited a framework agreement signed earlier this year with the local community at Carangas, along with Administrative Mining Contracts the government is expected to sign by year-end. At Silver Sands, he noted continued progress with the community. “New Pacific’s two flagship projects have made meaningful progress over the past two years, coinciding with a political shift in the country that appears significantly more receptive to private investment in natural resources projects,” O’Halloran wrote, adding that together the projects represent more than 27 million ounces per year of silver production potential.
Roth Capital Partners analyst Joe Reagor, whose team visited both mines in October, pointed to exploration upside outside the existing Carangas resource, where three drills were operating during the visit. Roth maintained a buy rating, saying community agreements still needed at Silver Sands fall “within the normal scope of South American mine development.” ATB Cormark Capital Markets, which has an outperform rating, called the assets among the “best undeveloped silver deposits globally” and said combined production could approach 20 million ounces per year, enough to move the needle for any large primary-silver producer and making the company a clear takeout target if the projects advance through permitting.
The analysts also flagged a more favorable political backdrop in Bolivia, including the removal of roadblocks tied to protests earlier this year, a restructuring of the Ministry of Mining and Metallurgy, and new mining regulations aimed at attracting foreign capital. ATB Cormark said the government has shown interest in prioritizing tier-1 silver projects. Details of the Carangas project are available click here. The original release can be viewed at www.newmediawire.com.
