The averadge of the spot gold is 200 $ higher this Q2 Vs Q1 . It means eps should hit 55 cts ( non ifrs basis ), or cad 2.2 annual , or a 4.3 PER as of today.
The xau businesses have no limits in time , so almost better than the royalties companies.
The per of theses companies run always above 40 for those with revenue .( fnv 85 wpm 54 rgld 40 tfpm 40 ssl 62 ..)
...What a lag -)