Most major gold mining stocks are down 50% or more in the past 10 years. But one company is up more than 30% over that time — Franco-Nevada. And it’s because of the way it operates. It doesn’t own, operate, develop, or explore for gold mines. Instead, it owns a large portfolio of royalties and streams on some of the best gold mining projects in the world. For example, Franco-Nevada bought a 2%-4% net smelter return (NSR) royalty and a 2.6%-6% net profit interest (NPI) royalty on Goldstrike — the largest gold mine in North America, owned and operated by Barrick. From those alone Franco-Nevada generates around $20 ... (full story)