running the numbers, page-17

I think Miningnuts numbers are pretty close to the mark, although the 1Q09 had ~ 26k ounces hedged @ 773 and ~32k ounces hedged @ 1530, so the unhedged portion is only ~17k ounces. (See annual report and 4Q for confirmation of 1Q hedging). The spot price over the quarter was very high, so I'd expect a good revenue number.
Cash costs are still trending down which is a great sign for the key 2010 year where 2/3rds of production are hedged at low prices compared to the current NZD gold price of 1590 as we sit today.
As Miningnut said, I'd also expect cashflow in the 1Q to be very strong which takes pressure off the balance sheet a little.
There is also no doubt Didipio could be a great asset when in production, I just hope shareholders aren't diluted to kingdom come to get funding for this.
All shall we revealed tomorrow when 1Q results are out.