United Paragon Mining Corporation (UPM) reported a smaller net loss for the first nine months of 2025 as expenses declined and no major one-time charges were recorded.
In its quarterly report to the Philippine Stock Exchange, UPM said it posted a PHP 15.0 million net loss for the period ending September 30, 2025, a significant improvement from the PHP80.9 million loss recorded during the same period last year.
The company, which has yet to resume mining operations, reported no gross revenue for the quarter. Operating expenses totaled PHP 11 million, up slightly from PHP 9.8 million in 2024, while non-operating expenses fell sharply to PHP 3.96 million from PHP 71.1 million a year earlier. Non-operating income reached PHP 1,566.
As of the end of the third quarter, UPM reported total assets of PHP 1.12 billion, almost unchanged from PHP 1.12 billion at the end of 2024. The company’s total liabilities stood at PHP1.56 billion, while its stockholders’ equity remained at a negative PHP 437.6 million.
UPM said no new exploration results were reported for the period, in line with the Philippine Mineral Reporting Code of 2020 and its implementing rules.
The company continues to focus on maintaining compliance and preparing for potential project reactivation once conditions in the mining sector become more favorable.
How do you think companies like UPM can balance operational challenges while preparing for future mining opportunities?
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