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  "documentTitle": "New Pacific Metals (NUAG)",
  "authorId": "50_Hindenburg_Research",
  "authorName": "Nathan Anderson",
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  "presentationDate": "2020-04-20 00:00:00",
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  "notes": "The slide uses a strong contrast between the financial valuation and the historical human cost of mining in the region to frame the risk profile.",
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      "text": "Given this history and social/political backdrop, deposits in Potosi arguably need to be \"world-class\" to make it worthwhile for foreign mining companies and their investors to try to develop such deposits.",
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      "text": "Geographic map of the Potosi region showing the Silver Sand project location relative to Cerro Rico and local infrastructure.",
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      "text": "The Potosi region is well known for its world-class silver deposits, especially the Cerro Rico mine. Upwards of 2 billion ounces of silver have been mined from Cerro Rico since 1545. This jaw-dropping quantity and grade of silver resulted in decades of exploitation and abuse by the Spanish Empire and other foreign entities since the discovery, resulting in the death of an estimated 8 million people. Cerro Rico is known locally as \"the mountain that eats men\" and \"the mouth to hell\". Despite the abundance of riches that sat within Cerro Rico, the silver has brought mostly death and misery to local people (Potosinos), which has instilled hostility towards foreign miners in the region. Given this history and social/political backdrop, deposits in Potosi arguably need to be \"world-class\" to make it worthwhile for foreign mining companies and their investors to try to develop such deposits.",
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      "text": "valuation per share: C$0.29",
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      "text": "Technical Analysis Shows New Pacific's Silver Sand Project Is Worth Est. C$0.29/Share",
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