Time will tell I guess. Either way, its a great time for PGI to...

Time will tell I guess. Either way, its a great time for PGI to be seeing higher grades with the US gold price above USD $1200.

As Paul100 mentioned, PGI had 8443 ounces hedged at US $1083 for the March Quarter.
So PGI should have got an approx average price for its unhedged gold of US $1180 per ounce.
The quarters production for gold was 11400. So just shy of 3k ounces at US $1180.
Total average price for the quarter of approx - $12,683,769.
The silver will have likely added - $809,670.
Grand total revenue for the quarter of approx - $13,493,439.

Going from last quarter, costs were $8.3m. Leaves $5,193,439 in profit (before other costs other than production of course). A great outcome all things considered. While the hedge looks like a big negative, it needs to be remembered that PGI is saving a heap of money by not owing as much as it did before the multiple hedge close outs.

If I have made any huge mistakes, please let me know.