Hedge is even more in the money this week (although I am sure PGI is happily selling all it can into the hedge to bolster its cash balance, so could be 5-10% less than this)
36000 ounces hedged at US $1157, current POG US $1072.
1157 - 1072 = $85 * 36000 = 3,060,000 USD.
Plus the 16000 hedged at US $1090, is now in the money.
1090 - 1072 = $18 * 16000 = $288,000 USD.
Total now US $3,348,000 USD.
Dream.... scenario=
The best possible outcome for PGI in the near term, IMHO, would be to close out the hedge, re-finance the Mac Bank loan, buy a small amount of put options to satisfy the new creditors and then let PGI produce and sell on the floating gold price. As I believe the current dip in the U.S gold price is just that, a dip, the U.S economy will show its true colours soon enough, FED story telling and rate hikes included,
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