Ann: Quarterly Report to 30 September 2015, page-60

Hmm.. Interesting fall in US POG to end the week. I think I have been watching the gold price long enough now that moves like this don't even cause my eyes to blink. The USD index just hit over 100, so... chances are its going to go a bit higher, at least up until the rates 'decision' that will likely cause other Solar Systems to spin backwards.

Just for fun, here are the hedge numbers (and yes, foyt, it will be difficult to refinance, but... the hedge is still protecting PGI and actually strengthens its bargaining power, IMHO). Also, 1/3 of the debt is with BanReservas which should see their interests very much aligned with the company's future.

36000 ounces hedged at US $1157, current POG US $1057.
1157 - 1057 = $100 * 36000 = 3,600,000 USD.
Plus the 16000 hedged at US $1090, is now in the money.
1090 - 1057 = $33 * 16000 = $528,000 USD.

Total now US $4,128,000 USD.

I look forward to Dec 2015 being finished, as we will have a clear idea of what the all mighty and powerful FED.. (god?) will do, which will provide a clear path for what the gold price will do.