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  "docSlug": "9da925e2a5ff",
  "documentTitle": "New Pacific Metals (NUAG)",
  "authorId": "50_Hindenburg_Research",
  "authorName": "Nathan Anderson",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2020-04-20 00:00:00",
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  "notes": "This is a short-seller research slide questioning the logic of a corporate transaction.",
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      "text": "We fail to understand why a silver producer would purchase an interest in a privately-owned travel website from another silver mining company.",
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      "text": "In October 2015, with its historical mining projects not working out, New Pacific announced it was changing its business from a mining issuer to focusing on making investments in privately held and publicly traded corporations. One of these investments, made sometime around 2016 [Pg. 3], was a private placement for CozyStay holdings, a travel/accommodations website similar to AirBnB geared toward Chinese travelers. In 2019, (after New Pacific renewed its focus on mining) its shares of CozyStay were sold to Silvercorp. We fail to understand why a silver producer would purchase an interest in a privately-owned travel website from another silver mining company.",
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      "kind": "title",
      "text": "Odd Related Party Deal With Silvercorp And A Travel Website For Chinese Tourists",
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