6.0X FCF multiple on major 5 Gold miners. Never seen before at least back to 2015. This could actually be a regime change. The Majors are generating solid FCF driving earnings/share, enabling solid dividends and significant buybacks. The market is pricing on history, and a positive re-rate surprise could be in order

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Lurked from :

https://x.com/GarrettGoggin/status/1891899335073276042/photo/1

Another great chart in the link worth your time.

https://x.com/GarrettGoggin/status/1891911670135500815/photo/1