My opinion on these is going to be much the same as all covered call funds outside of a select few. They're nice for income, but you will take on equal risk of the underlying assets with lower overall returns.
For example, AMAX has underperformed a simple gold index fund that contains many of the top Canadian gold producers by about 20%~ since AMAX's inception in early 2024.
Yes, you've gotten some income, but the covered call nature has capped your total upside potential and cost you returns over the long-term, and will likely continue to do so in the future.
On an asset like gold, whether it be producers or gold itself, the industry is so cyclical that if we are going to be investing in it, we need to be maximizing returns in my opinion. If we're exposing ourselves to a highly volatile industry that isn't necessarily known for producing the best long-term returns, we want to take advantage of every portion of the runup we can.