PSE Circular for Brokers No. 2480-98

October 30, 1998 PSE CIRCULAR FOR BROKERS NO. 2480-98 October 28, 1998 CURRENT REPORT UNDER SECTION 11 OF THE REVISED SECURITIES ACT (RSA) AND RSA RULE 11(a)-(b)(3) THEREUNDER 1. 28 October 1998 Date of Report (Date of earliest event reported) 2. SEC ID No. 40938 3. BIR Tax ID No. 041-000-169-117-V 4. UNITED PARAGON MINING CORPORATION Exact name of registrant as specified in its charter 5. Philippines Province, country or other jurisdiction of Incorporation 6. (SEC Use Only) Industry Classification Code 7. 8th Floor, Quad Alpha Centrum 125 Pioneer Street Mandaluyong City 1550 Address of principal office Postal Code 8. (632)636-5133 to 5136 Registrant's telephone number, including area code 9. n/a Former name or former address, if changed since last report 10. Securities registered pursuant to Sections 4 and 8 of the RSA Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding Common Stock 1,734,843,397 shares 11. Indicate the item numbers reported herein: Item 9 - Other Events On October 21 to 22, 1998 super-typhoon "Loleng" with maximum winds of 160 kph hit the Company's mine site in Longos, Paracale, Camarines Norte. Damages sustained were mostly on surface buildings and infrastructures while underground property and equipment were not affected. Typhoon signal no. 3 was raised over the Bicol region thus disrupting normal operations of the Company. Power from the national grid was cut on the eve of October 21, 1998 and has not been restored as of October 27, 1998. Production had been suspended since October 22, 1998 due to limited power generated by the emergency units of the mine allowing only the pumps, ventilation fans and hoisting facilities to run. Normal operations will resume as soon as the Camarines Norte Electric Cooperative power is restored. Immediately after the typhoon, mine site maintenance and service personnel surveyed and assessed the damages for rehabilitation purposes. LexLib Pursuant to the requirements of the Revised Securities Act, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. UNITED PARAGON MINING CORPORATION Registrant (SGD.) AUGUSTO B. SUNICO Corporate Secretary