Personally I'm okay with the hedging because I've lived through a few nadir in the gold price. It does not go up forever. In any case there are other gold miners out there with minimal to no hedging like:
- EVN at 5.6% hedged (10,000oz hedged at an averageprice of $3,074/oz. March Quarter Production. 178,251oz @ $3,171/oz )
- GMD no hedging.
These two are just from the top of my head but the world is your oyster folks. If you don't like one aspect of one you can find another. All you have to do is get off your arse and look. Or like me own them all!
Personally I'm okay with the hedging because I've lived through...
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