SMP WILL BE SWITCHED OFF SOON, THANK YOU FOR YOUR SUPPORT

United Paragon Mining Corp.
di ako naka bili nung up nito. wait ko mag pullback, mukhang nasa pullback zone na, just give me some volume to confirm pullback.
Follow the Trend like a SHADOW
Until Price will fly to the MOON
Reply
any update dito....thanks
Reply
Up ko lang. Natabunan na.
“If a speculator is correct half of the time, he is hitting a good average. Even being right 3 or 4 times out of 10 should yield a person a fortune if he has the sense to cut his losses quickly on the ventures where he is wrong.”
Reply
8-29

...tagal na tulog nito, ginising lang a couple of days ago....mag ala-VUL kaya? sister company lang naman sila Tongue

Ramos-led United Paragon secures exploration permit

MANILA, Philippines — United Paragon Mining Corp. has secured its permit to explore gold reserves in Camarines Norte after the government lifted the moratorium on exploration permits for metallic and non-metallic minerals.

In a disclosure to the local bourse, UPMC said it recently received its exploration permit from the Mines and Geosciences Bureau Regional Office in Legazpi City, more than a month after the Department of Environment and Natural Resources (DENR) lifted the moratorium on the acceptance, processing and approval of applications for exploration permits.

UPMC has an operating agreement with Camarines Minerals Inc. (CMI) for exclusive rights to operate CMI’s mineral properties in Longos in Camarines Norte, covered by mining lease contracts.

Prior to the expiry of mining lease contracts, the company submitted applications for conversion of its mineral production sharing agreement which covers 56 mining claims owned by CMI with an area 395 hectares.

This was converted into an exploration permit application upon submission of pertinent documents and payment of the required conversion fee.

In 2016, UPMC expanded the applied area from 395 hectares to 580 hectares to conform to DENR-MGB’s policy on meridional blocking.

However, in the same year, former environment secretary Gina Lopez issued a memorandum order that covered the extensive audit of all mines as well as the moratorium on new mining projects.

The MGB said the lifting of the ban is in line with President Duterte’s  economic agenda, particularly on increasing competitiveness and the ease of doing business to attract more local and foreign investors.

UPMC is primarily engaged in the exploration, development, exploitation, recovery and sale of gold.


source: https://www.philstar.com/business/2018/0...ion-permit


Reply
10-31

...earnings report

UPM’s net loss widens to P49.5M in Jan-Sept

UNITED Paragon Mining Corp.’s (UPM) net loss expanded in the first three quarters of 2018 to P49.5 million from P39.6 million in the same period last year because of rising costs and expenses.


“The higher net loss for the period was due to interest expense accrual and foreign exchange loss offset by decrease in administrative expense due to termination of employment of onsite personnel,” UPM told the Philippine Stock Exchange on Tuesday.

For the third quarter, the listed mining company’s net loss also grew by 12.8 percent to P15.88 million from P14.74 million a year ago.

As of September 30, UPM’s general and administrative expenses hit P6 million, a 14.3-percent decrease from P7 million in 2017.


UPM said the price of gold fell by 9 percent—its lowest level—as of end-September. Gold traded on the London Metal Exchange was at $1,183.50 per ounce, lower than the $1,296.50 per ounce in the previous quarter.

On January 25, gold price reached an all-time high of $1,360.25 per ounce, it added.

Total assets reached P1.113 billion, slightly down from P1.114 billion a year ago because of the increase “in the cash and cash equivalent in the current asset section.”


 
Total current liabilities hit P1.10 billion, a 4.76-percent rise from P1.05 billion in 2017.

“Due to the suspension of mining and milling operations and limited source of funds, the company failed to meet payments within the stated terms to majority of its suppliers, contractors and creditors,” UPMC said.

“However, the company has been continuously paying the accounts that relates to its current working capital requirement, and the old accounts due to its suppliers, contractors and creditors remain unchanged,” UPM added.

In order to improve and sustain the company’s operations in 2018, UPM said earlier it would examine various project-financing options to fund its exploration work program and continue with its exploration and drilling activities once it receives a permit for them from the government.

UPM is into the exploration, development, exploitation, recovery, and sale of gold. It operates the Longos Mine in Paracale town, Camarines Norte province.


source: https://www.manilatimes.net/upms-net-los...pt/459911/


Reply
A country stable economy and its currency rates play a vital role in the market. A highly stable rate of the currency rate of one's country will surely build confidence in the investor of that country. More stability means more money in the market and more money means the great performance overall.
Reply


Forum Jump:


Users browsing this thread: 1 Guest(s)