Stock Information

UPM | UNITED PARAGON MINING CORPORATION

Sector: MINING & OIL | Sub-Sector: MINING

United Paragon Mining Corporation (UPM) is a Philippine corporation whose main business is the exploration, development, exploitation, recovery and sale of gold. UPM was the result of a merger in 1989 between United Asia Resources and Geothermal Corporation (UAR) and Abcar Paragon Mining Corporation, in which UAR became the surviving entity. UAR was then renamed in 1990 as United Paragon Mining Corporation.

UPM's principal mining operation is the Longos Mine at Paracale, Camarines Norte. The Company operated an open pit area in the mine from August 1988 to June 1994, and by April 1994, UPM began the commercial operations of the underground mine at the same site. However, the mine was placed under care and maintenance in December 1998 because of serious depletion of economic reserves, high operating costs and low metal prices. In November 2003, the Company decided to suspend further drilling in the mine. The Company's principal activities since the suspension of the mining and milling operations until 2004 had been exploration and confirmation drilling.

There were no gold and silver recovered in the years 2024, 2023, and 2022 since UPM's mining and milling operations are still suspended.

Source: SEC Form 17-A (2024)