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I agree with your time frame.

Sandstorm just purchased some "Streams" and the price paid was close to the current share Market price. No or little premium.:

Sandstorm Gold Announces the Acquisition of Common Shares and Warrants of Premier Royalty
Vancouver, British Columbia | January 29, 2013

9:04AM Sandstorm Gold announces the acquisition of common shares and warrants of Premier Royalty (SAND) 11.53 : Co announced that it has entered into a share purchase agreement with Premier Gold Mines to acquire common shares and warrants of Premier Royalty. Sandstorm has purchased 33,655,821 Common Shares, representing approximately 43.2% of the currently issued and outstanding shares of Premier Royalty, and ~6.965 mln warrants, each exercisable to acquire one common share of Premier Royalty at a price of CAD$2.00. Of the Warrants, 5,508,176 expire on December 4, 2016.

But, spin offs can add additional value compared to the share price before, the spin off.

I also, like that they are a key shareholder in Silver Predator.:

Pg. 6 Golden Predatory is key shareholder

Because, I feel there is more "up side" in silver than gold. In addition to being a "store of value", silver also has industrial uses.

But, that's just me......

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