My concern with WAF is it's unhedged, not that isn't bad but I...

My concern with WAF is it's unhedged, not that isn't bad but I think it's being overvalued on NAV basis because there are no hedges, other companies have hedges but those hedges will bleed off over time as their debt decreases increasing their profits going forward and more share price growth for them compared to WAF. The presentation says they will average 217kozpa over 5 years, I just don't see it as a value play unless gold goes up a lot in the short term, if gold slowly goes up the companies with hedges are better plays, I'm not considering here if gold goes down because regardless of hedges everyone involved in gold will be stuffed, waf, rsg etc the whole lot. WAF is an ok place for your hard earned, I just don't think it's the best place and people here over promote it, rms is in Australia and going to produce 70koz more than waf, their market cap is much higher by maybe 50% but it's less risk for the production but not valued much above waf for the production amount. I just don't see WAF as a screaming buy like everyone else here.