{
  "docId": "019dd923-622c-750b-8b95-b8dc4dc4ba49",
  "docSlug": "9da925e2a5ff",
  "documentTitle": "New Pacific Metals (NUAG)",
  "authorId": "50_Hindenburg_Research",
  "authorName": "Nathan Anderson",
  "documentKindSlug": "conference-presentation",
  "documentKindLabel": "Conference presentation",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2020-04-20 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.7777778,
  "pageNumber": 44,
  "pageCount": 65,
  "prevPage": 43,
  "nextPage": 45,
  "slideType": "villain_critique",
  "function": "name_villain",
  "density": "overcrowded",
  "nDataPoints": 5,
  "notes": "The slide uses a critical tone to expose a pattern of failed investments linked to Silvercorp.",
  "elementsJson": [
    "headline_text",
    "bullet_list"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b95-b8dc4dc4ba49/44",
  "deckHref": "/decks/019dd923-622c-750b-8b95-b8dc4dc4ba49",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b95-b8dc4dc4ba49.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b95-b8dc4dc4ba49#slide-44",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "New Pacific has purchased 3 Chinese mining projects through Silvercorp. All were hyped considerably around the time of purchase, but have since been suspended, sold at a loss, or surrendered back to the local government.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-203f-7169-9f87-c611c9309465",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.85,
        "x": 0.1,
        "y": 0.73
      },
      "kind": "list",
      "text": "RZY Silver-Lead-Zinc Project. New Pacific paid U.S. $3.5 million for a stake in this China mining projected from Silvercorp in 2013, but later disclosed that it would surrender the project back to the local government for a one-time cash payment of C$3.8 million. [Pg. 4]",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "1e9bb95e-5511-4502-a654-6919ed5c8b99",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.9,
        "x": 0.05,
        "y": 0.28
      },
      "kind": "list",
      "text": "New Pacific has purchased 3 Chinese mining projects through Silvercorp. All were hyped considerably around the time of purchase, but have since been suspended, sold at a loss, or surrendered back to the local government.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "5d72843f-299f-4e79-a63d-8dba6f545498",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.85,
        "x": 0.1,
        "y": 0.43
      },
      "kind": "list",
      "text": "Kang Dian Project. New Pacific came public via reverse merger in October 2004 with options to acquire a majority stake in the Kang Dian Project in China from Silvercorp. (The project was owned by a Silvercorp subsidiary at the time.) New Pacific ultimately exercised the options, paying 6.5 million shares at a deemed price of ~$2.4 million. [Pg. 5]",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7918c3be-8370-4c2f-a307-fd93b224afa2",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.85,
        "x": 0.1,
        "y": 0.58
      },
      "kind": "list",
      "text": "The Huaiji “HNK” Project. New Pacific purchased these mining projects from a Silvercorp subsidiary for C$37.7 million. [Pg. 2] After much hype and about C$4.3 million in exploration expenditures, New Pacific quietly reported that it sold the project for C$30.5 million, representing a loss. [Pg. 2]",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "8107aeb1-d72b-42d2-8207-4d1c7027856c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.9,
        "x": 0.05,
        "y": 0.1
      },
      "kind": "title",
      "text": "Multiple Chinese Mining Projects Bought From Silvercorp Were Hyped For Years Before Ultimately Failing",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "4184de7e-1ed6-467d-9dda-87ceb2424a7c",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "fraud-exposure",
      "slug": null,
      "matchId": "760bf63c-ac55-4d20-b066-5623541681eb",
      "evidence": "The slide systematically lists failed projects to build a case against the subject's business practices.",
      "confidence": 0.85
    }
  ],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}