08:27 AM EST, 02/10/2025 (MT Newswires) -- New Pacific Metals ( NEWP ) edged up on Monday in pre-market New York trading after saying it will look to advance permitting for its two Bolivian silver projects in 2025.

The company said it will ease back on new exploration and engineering spending for the two projects - Silver Sands and Carangas - this year despite ending 2024 with $18 million of cash on hand as it secures permission to build the two open-pit projects.

"At both assets, our primary objective is to advance permitting," chief executive Andrew Williams said in a release.

New Pacific said it will look to secure surface rights with agreement from local communities near the Silver Sands project in 2025 and displace artisanal and small-scale miners from the site. At Carangas, it will look to convert its exploration license into an administrative mining contract by securing permission from local communities, deferring high-cost exploration until that is in hand.

The company's shares were last seen up US$0.02 to US$1.19 premarket. They closed down $0.07 to $1.70 Friday on the Toronto Stock Exchange.