<informationTable xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns="http://www.sec.gov/edgar/document/thirteenf/informationtable">
  <infoTable>
    <nameOfIssuer>8x8 Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>282914100</cusip>
    <value>2744306</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1653197</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1503397</Sole>
      <Shared>0</Shared>
      <None>149800</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>A. O. Smith Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>831865209</cusip>
    <value>4317092</value>
    <shrsOrPrnAmt>
      <sshPrnamt>65470</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>65470</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>A10 Networks Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>002121101</cusip>
    <value>2951522</value>
    <shrsOrPrnAmt>
      <sshPrnamt>127661</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>127661</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Abbott Laboratories</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>002824100</cusip>
    <value>1075982</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10480</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>9110</Sole>
      <Shared>0</Shared>
      <None>1370</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AbbVie Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00287Y109</cusip>
    <value>4806095</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22098</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>22098</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Abercrombie &amp; Fitch Co.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>002896207</cusip>
    <value>6487270</value>
    <shrsOrPrnAmt>
      <sshPrnamt>71000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>71000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Accel Entertainment Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00436Q106</cusip>
    <value>5245528</value>
    <shrsOrPrnAmt>
      <sshPrnamt>480800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>480800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Accenture PLC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>G1151C101</cusip>
    <value>687075</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3465</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3465</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ACI Worldwide Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>004498101</cusip>
    <value>5997713</value>
    <shrsOrPrnAmt>
      <sshPrnamt>146250</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>146250</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Adamas Trust Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>649604840</cusip>
    <value>59763</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8120</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>8120</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Adaptive Biotechnologies Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00650F109</cusip>
    <value>8678012</value>
    <shrsOrPrnAmt>
      <sshPrnamt>625217</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>606940</Sole>
      <Shared>0</Shared>
      <None>18277</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Adobe Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00724F101</cusip>
    <value>883596</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3635</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3635</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ADT Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00090Q103</cusip>
    <value>938853</value>
    <shrsOrPrnAmt>
      <sshPrnamt>142900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>142900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ADTRAN Holdings Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00486H105</cusip>
    <value>288082</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>600</Sole>
      <Shared>0</Shared>
      <None>22300</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Advanced Energy Industries Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>007973100</cusip>
    <value>398547</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1235</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>35</Sole>
      <Shared>0</Shared>
      <None>1200</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Advanced Micro Devices Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>007903107</cusip>
    <value>4902663</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>24100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Affiliated Managers Group Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>008252108</cusip>
    <value>24903</value>
    <shrsOrPrnAmt>
      <sshPrnamt>90</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>90</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Agios Pharmaceuticals Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00847X104</cusip>
    <value>6766</value>
    <shrsOrPrnAmt>
      <sshPrnamt>200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Agnico Eagle Mines Ltd</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>008474108</cusip>
    <value>77766006</value>
    <shrsOrPrnAmt>
      <sshPrnamt>383209</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>73987</Sole>
      <Shared>0</Shared>
      <None>309222</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alignment Healthcare Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>01625V104</cusip>
    <value>3063589</value>
    <shrsOrPrnAmt>
      <sshPrnamt>173870</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>156270</Sole>
      <Shared>0</Shared>
      <None>17600</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Allient Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>019330109</cusip>
    <value>7947015</value>
    <shrsOrPrnAmt>
      <sshPrnamt>134490</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>134490</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alphabet Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>02079K107</cusip>
    <value>84623</value>
    <shrsOrPrnAmt>
      <sshPrnamt>295</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>295</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alphabet Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>02079K305</cusip>
    <value>37630676</value>
    <shrsOrPrnAmt>
      <sshPrnamt>130862</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>129854</Sole>
      <Shared>0</Shared>
      <None>1008</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alpine Income Property Trust Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>02083X103</cusip>
    <value>336600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>18700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alto Ingredients Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>021513106</cusip>
    <value>4843403</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1000703</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>921303</Sole>
      <Shared>0</Shared>
      <None>79400</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Altria Group Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>02209S103</cusip>
    <value>104264</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1580</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1580</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amalgamated Financial Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>022671101</cusip>
    <value>311349</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8010</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>210</Sole>
      <Shared>0</Shared>
      <None>7800</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amazon.com Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>023135106</cusip>
    <value>20953836</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100609</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>99841</Sole>
      <Shared>0</Shared>
      <None>768</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ambarella Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>G037AX101</cusip>
    <value>5507826</value>
    <shrsOrPrnAmt>
      <sshPrnamt>107000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>102900</Sole>
      <Shared>0</Shared>
      <None>4100</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AMC Global Media Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00164V103</cusip>
    <value>219317</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>32300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amdocs Ltd</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>G02602103</cusip>
    <value>860127</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13180</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>13180</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>American Eagle Outfitters Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>02553E106</cusip>
    <value>5489624</value>
    <shrsOrPrnAmt>
      <sshPrnamt>328720</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>328720</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>American Express Co</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>025816109</cusip>
    <value>2199029</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7270</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>7270</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>American Healthcare REIT Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>398182303</cusip>
    <value>334364</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7090</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>190</Sole>
      <Shared>0</Shared>
      <None>6900</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ameriprise Financial Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>03076C106</cusip>
    <value>1084336</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2440</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2440</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ameris Bancorp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>03076K108</cusip>
    <value>328338</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4210</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>110</Sole>
      <Shared>0</Shared>
      <None>4100</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amneal Pharmaceuticals Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>03168L105</cusip>
    <value>9243929</value>
    <shrsOrPrnAmt>
      <sshPrnamt>743679</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>715979</Sole>
      <Shared>0</Shared>
      <None>27700</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amphenol Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>032095101</cusip>
    <value>1124515</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>8900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amplify Blockchain Technology </nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>032108607</cusip>
    <value>10958</value>
    <shrsOrPrnAmt>
      <sshPrnamt>220</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>220</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amtech Systems Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>032332504</cusip>
    <value>295504</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>25300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AnaptysBio Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>032724106</cusip>
    <value>256225</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4620</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>120</Sole>
      <Shared>0</Shared>
      <None>4500</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Andersons Inc (The)</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>034164103</cusip>
    <value>353875</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4930</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>130</Sole>
      <Shared>0</Shared>
      <None>4800</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AngloGold Ashanti plc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>G0378L100</cusip>
    <value>1012544</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>10400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Anika Therapeutics Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>035255108</cusip>
    <value>368300</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>25400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aon plc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>G0403H108</cusip>
    <value>1194286</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>APi Group Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00187Y100</cusip>
    <value>4276886</value>
    <shrsOrPrnAmt>
      <sshPrnamt>105550</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>105550</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Appian Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>03782L101</cusip>
    <value>306920</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12730</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>330</Sole>
      <Shared>0</Shared>
      <None>12400</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>APPLE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>037833100</cusip>
    <value>41290110</value>
    <shrsOrPrnAmt>
      <sshPrnamt>162694</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>162519</Sole>
      <Shared>0</Shared>
      <None>175</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Applied Industrial Technologies Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>03820C105</cusip>
    <value>4722696</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>17800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Applied Materials Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>038222105</cusip>
    <value>5126850</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>15000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Apyx Medical Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>03837C106</cusip>
    <value>643167</value>
    <shrsOrPrnAmt>
      <sshPrnamt>174300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>94400</Sole>
      <Shared>0</Shared>
      <None>79900</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Arcosa Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>039653100</cusip>
    <value>283394</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2670</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>70</Sole>
      <Shared>0</Shared>
      <None>2600</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Arcutis Biotherapeutics Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>03969K108</cusip>
    <value>4434463</value>
    <shrsOrPrnAmt>
      <sshPrnamt>188220</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>176420</Sole>
      <Shared>0</Shared>
      <None>11800</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ardagh Metal Packaging SA</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>L02235106</cusip>
    <value>3519705</value>
    <shrsOrPrnAmt>
      <sshPrnamt>869063</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>869063</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aris Mining Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>04040Y109</cusip>
    <value>19301886</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1039776</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>539583</Sole>
      <Shared>0</Shared>
      <None>500193</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Arista Networks Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>040413205</cusip>
    <value>987151</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8040</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>8040</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Arlo Technologies Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>04206A101</cusip>
    <value>4775332</value>
    <shrsOrPrnAmt>
      <sshPrnamt>335582</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>335582</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Armstrong World Industries Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>04247X102</cusip>
    <value>3544848</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21510</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>21510</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Arrow Financial Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>042744102</cusip>
    <value>334357</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9960</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>260</Sole>
      <Shared>0</Shared>
      <None>9700</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ASGN Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00191U102</cusip>
    <value>3638740</value>
    <shrsOrPrnAmt>
      <sshPrnamt>94000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>94000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Assurant Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>04621X108</cusip>
    <value>4809245</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22080</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>22080</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Assured Guaranty Ltd</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>G0585R106</cusip>
    <value>3079944</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>37800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Astec Industries Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>046224101</cusip>
    <value>312272</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>400</Sole>
      <Shared>0</Shared>
      <None>5400</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AT&amp;T Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00206R102</cusip>
    <value>1066832</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>36800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Atmus Filtration Technologies Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>04956D107</cusip>
    <value>349703</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6160</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>160</Sole>
      <Shared>0</Shared>
      <None>6000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ATN International Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00215F107</cusip>
    <value>517180</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>19000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ATS Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00217Y104</cusip>
    <value>16908</value>
    <shrsOrPrnAmt>
      <sshPrnamt>600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aurinia Pharmaceuticals Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>05156V102</cusip>
    <value>3110718</value>
    <shrsOrPrnAmt>
      <sshPrnamt>209900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>209900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Autodesk Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>052769106</cusip>
    <value>1043784</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4360</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4360</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Automatic Data Processing Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>053015103</cusip>
    <value>85336</value>
    <shrsOrPrnAmt>
      <sshPrnamt>420</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>420</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aveanna Healthcare Holdings Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>05356F105</cusip>
    <value>5970073</value>
    <shrsOrPrnAmt>
      <sshPrnamt>927030</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>888430</Sole>
      <Shared>0</Shared>
      <None>38600</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Avery Dennison Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>053611109</cusip>
    <value>1070616</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>6200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AXIS Capital Holdings Ltd</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>G0692U109</cusip>
    <value>4705424</value>
    <shrsOrPrnAmt>
      <sshPrnamt>46400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>46400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Axsome Therapeutics Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>05464T104</cusip>
    <value>9019414</value>
    <shrsOrPrnAmt>
      <sshPrnamt>53363</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>51500</Sole>
      <Shared>0</Shared>
      <None>1863</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Balchem Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>057665200</cusip>
    <value>8321468</value>
    <shrsOrPrnAmt>
      <sshPrnamt>49100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>47400</Sole>
      <Shared>0</Shared>
      <None>1700</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ball Corporation</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>058498106</cusip>
    <value>1052158</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>17800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Banco Latinoamericano de Comercio Exterior SA</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>P16994132</cusip>
    <value>4906949</value>
    <shrsOrPrnAmt>
      <sshPrnamt>96064</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>96064</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bank of America Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>060505104</cusip>
    <value>4664400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>95680</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>95680</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bank of Montreal</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>063671101</cusip>
    <value>73639177</value>
    <shrsOrPrnAmt>
      <sshPrnamt>543809</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>141854</Sole>
      <Shared>0</Shared>
      <None>401955</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bank of New York Mellon Corp (The)</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>064058100</cusip>
    <value>1328656</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>11200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bankwell Financial Group Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>06654A103</cusip>
    <value>5138268</value>
    <shrsOrPrnAmt>
      <sshPrnamt>105900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>105900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Barrick Mining Corporation</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>06849F108</cusip>
    <value>54222982</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1327142</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>132311</Sole>
      <Shared>0</Shared>
      <None>1194831</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bath &amp; Body Works Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>070830104</cusip>
    <value>896160</value>
    <shrsOrPrnAmt>
      <sshPrnamt>48000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>48000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BCE Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>05534B760</cusip>
    <value>40866769</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1620047</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>83852</Sole>
      <Shared>0</Shared>
      <None>1536195</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Beachbody Co Inc (The)</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>073463309</cusip>
    <value>9774</value>
    <shrsOrPrnAmt>
      <sshPrnamt>900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bel Fuse Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>077347300</cusip>
    <value>366263</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1850</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>50</Sole>
      <Shared>0</Shared>
      <None>1800</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Belden Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>077454106</cusip>
    <value>4604683</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>40100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BellRing Brands Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>07831C103</cusip>
    <value>12068</value>
    <shrsOrPrnAmt>
      <sshPrnamt>750</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>750</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Benchmark Electronics Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>08160H101</cusip>
    <value>4739873</value>
    <shrsOrPrnAmt>
      <sshPrnamt>84550</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>78950</Sole>
      <Shared>0</Shared>
      <None>5600</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Berkshire Hathaway Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>084670702</cusip>
    <value>2401751</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5012</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4974</Sole>
      <Shared>0</Shared>
      <None>38</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Best Buy Co Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>086516101</cusip>
    <value>46866</value>
    <shrsOrPrnAmt>
      <sshPrnamt>730</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>730</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BGC Group Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>088929104</cusip>
    <value>353547</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36150</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>950</Sole>
      <Shared>0</Shared>
      <None>35200</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BioCryst Pharmaceuticals Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>09058V103</cusip>
    <value>6084232</value>
    <shrsOrPrnAmt>
      <sshPrnamt>639100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>609100</Sole>
      <Shared>0</Shared>
      <None>30000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bioventus Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>09075A108</cusip>
    <value>6127500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>671139</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>671139</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BK Technologies Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>05587G203</cusip>
    <value>216427</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Blackbaud Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>09227Q100</cusip>
    <value>5332041</value>
    <shrsOrPrnAmt>
      <sshPrnamt>138100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>138100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bloom Energy Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>093712107</cusip>
    <value>292658</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2160</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>60</Sole>
      <Shared>0</Shared>
      <None>2100</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Blue Bird Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>095306106</cusip>
    <value>7178256</value>
    <shrsOrPrnAmt>
      <sshPrnamt>126400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>126400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Booking Holdings Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>09857L108</cusip>
    <value>1027318</value>
    <shrsOrPrnAmt>
      <sshPrnamt>244</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>244</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BorgWarner Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>099724106</cusip>
    <value>5724430</value>
    <shrsOrPrnAmt>
      <sshPrnamt>105500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>105500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Boston Scientific Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>101137107</cusip>
    <value>636913</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10150</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>10150</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Box Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>10316T104</cusip>
    <value>5277630</value>
    <shrsOrPrnAmt>
      <sshPrnamt>223250</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>223250</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bragg Gaming Group Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>104833306</cusip>
    <value>18288</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10472</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>10472</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bread Financial Holdings Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>018581108</cusip>
    <value>9638343</value>
    <shrsOrPrnAmt>
      <sshPrnamt>128700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>128700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BridgeBio Pharma Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>10806X102</cusip>
    <value>12456521</value>
    <shrsOrPrnAmt>
      <sshPrnamt>167742</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>162540</Sole>
      <Shared>0</Shared>
      <None>5202</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bridgewater Bancshares Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>108621103</cusip>
    <value>3751691</value>
    <shrsOrPrnAmt>
      <sshPrnamt>211960</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>211960</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bright Horizons Family Solutions Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>109194100</cusip>
    <value>3268774</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>39800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Brinker International Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>109641100</cusip>
    <value>5746493</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40250</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>40250</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Brink's Co (The)</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>109696104</cusip>
    <value>7461360</value>
    <shrsOrPrnAmt>
      <sshPrnamt>72000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>72000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bristol-Myers Squibb Co</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>110122108</cusip>
    <value>101286</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1670</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1670</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Broadcom Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>11135F101</cusip>
    <value>13093512</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42304</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>42304</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Broadwind Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>11161T207</cusip>
    <value>14306</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6878</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>6878</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Brookfield Asset Management Ltd</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>113004105</cusip>
    <value>3372448</value>
    <shrsOrPrnAmt>
      <sshPrnamt>75870</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>660</Sole>
      <Shared>0</Shared>
      <None>75210</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Brookfield Business Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>113006100</cusip>
    <value>315</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>10</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Brookfield Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>11271J107</cusip>
    <value>17493401</value>
    <shrsOrPrnAmt>
      <sshPrnamt>431808</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>37237</Sole>
      <Shared>0</Shared>
      <None>394571</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Brookfield Infrastructure Partners LP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>G16252101</cusip>
    <value>277508</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7695</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>7055</Sole>
      <Shared>0</Shared>
      <None>640</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Brunswick Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>117043109</cusip>
    <value>19645</value>
    <shrsOrPrnAmt>
      <sshPrnamt>270</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>270</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAE Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>124765108</cusip>
    <value>33840</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>1300</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Caledonia Mining Corp Plc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>G1757E113</cusip>
    <value>295929</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>13100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Calix Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>13100M509</cusip>
    <value>4229797</value>
    <shrsOrPrnAmt>
      <sshPrnamt>86340</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>81040</Sole>
      <Shared>0</Shared>
      <None>5300</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Callaway Golf Co</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>131193104</cusip>
    <value>317852</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>600</Sole>
      <Shared>0</Shared>
      <None>22300</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cameco Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>13321L108</cusip>
    <value>15834584</value>
    <shrsOrPrnAmt>
      <sshPrnamt>145643</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>10763</Sole>
      <Shared>0</Shared>
      <None>134880</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Canadian Imperial Bank of Commerce</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>136069101</cusip>
    <value>117667846</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1241867</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>259299</Sole>
      <Shared>0</Shared>
      <None>982568</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Canadian National Railway Co</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>136375102</cusip>
    <value>9935361</value>
    <shrsOrPrnAmt>
      <sshPrnamt>96553</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>6684</Sole>
      <Shared>0</Shared>
      <None>89869</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Canadian Natural Resources Ltd</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>136385101</cusip>
    <value>37825183</value>
    <shrsOrPrnAmt>
      <sshPrnamt>775589</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>164854</Sole>
      <Shared>0</Shared>
      <None>610735</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Canadian Pacific Kansas City Ltd</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>13646K108</cusip>
    <value>10868013</value>
    <shrsOrPrnAmt>
      <sshPrnamt>138140</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>12947</Sole>
      <Shared>0</Shared>
      <None>125193</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Canopy Growth Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>138035704</cusip>
    <value>38</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>40</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Capitol Federal Financial Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>14057J101</cusip>
    <value>82280</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11540</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>11540</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cardinal Health Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>14149Y108</cusip>
    <value>1439021</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6810</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>6810</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CareCloud Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>14167R100</cusip>
    <value>2936454</value>
    <shrsOrPrnAmt>
      <sshPrnamt>804508</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>804508</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CareTrust REIT Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>14174T107</cusip>
    <value>338646</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9240</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>240</Sole>
      <Shared>0</Shared>
      <None>9000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CarGurus Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>141788109</cusip>
    <value>7103852</value>
    <shrsOrPrnAmt>
      <sshPrnamt>208630</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>208630</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Carriage Services Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>143905107</cusip>
    <value>260262</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Caterpillar Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>149123101</cusip>
    <value>4673710</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6597</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>6597</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CBL &amp; Associates Properties Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>124830878</cusip>
    <value>131815</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3430</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3430</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CBRE Group Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>12504L109</cusip>
    <value>135460</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>1000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CDW Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>12514G108</cusip>
    <value>974211</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8050</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>8050</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Celestica Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>15101Q207</cusip>
    <value>37390513</value>
    <shrsOrPrnAmt>
      <sshPrnamt>132579</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>26447</Sole>
      <Shared>0</Shared>
      <None>106132</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cenovus Energy Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>15135U109</cusip>
    <value>33005699</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1243918</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>425129</Sole>
      <Shared>0</Shared>
      <None>818789</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Centerra Gold Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>152006102</cusip>
    <value>57393141</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3227935</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1378544</Sole>
      <Shared>0</Shared>
      <None>1849391</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Central Garden &amp; Pet Co</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>153527205</cusip>
    <value>7407970</value>
    <shrsOrPrnAmt>
      <sshPrnamt>228500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>228500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CGI Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>12532H104</cusip>
    <value>88439</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1210</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>1210</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Check Point Software Technologies Ltd</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>M22465104</cusip>
    <value>133565</value>
    <shrsOrPrnAmt>
      <sshPrnamt>935</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>935</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Chevron Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>166764100</cusip>
    <value>324833</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1570</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1070</Sole>
      <Shared>0</Shared>
      <None>500</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cirrus Logic Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>172755100</cusip>
    <value>5361063</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37070</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>37070</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cisco Systems Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>17275R102</cusip>
    <value>3943667</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50827</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>50827</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Citi Trends Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>17306X102</cusip>
    <value>687922</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15880</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>9180</Sole>
      <Shared>0</Shared>
      <None>6700</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Citigroup Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>172967424</cusip>
    <value>74851</value>
    <shrsOrPrnAmt>
      <sshPrnamt>660</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>660</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Civista Bancshares Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>178867107</cusip>
    <value>2962950</value>
    <shrsOrPrnAmt>
      <sshPrnamt>130011</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>130011</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Coda Octopus Group Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>19188U206</cusip>
    <value>266341</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23570</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>23570</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Coeur Mining Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>192108504</cusip>
    <value>5862246</value>
    <shrsOrPrnAmt>
      <sshPrnamt>312320</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>296620</Sole>
      <Shared>0</Shared>
      <None>15700</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cognex Corporation</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>192422103</cusip>
    <value>3194148</value>
    <shrsOrPrnAmt>
      <sshPrnamt>65200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>65200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cognizant Technology Solutions Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>192446102</cusip>
    <value>885281</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14430</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>14430</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Colgate-Palmolive Co</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>194162103</cusip>
    <value>108668</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1275</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>1275</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Collegium Pharmaceutical Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>19459J104</cusip>
    <value>6104722</value>
    <shrsOrPrnAmt>
      <sshPrnamt>184600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>184600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Colliers International Group I</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>194693107</cusip>
    <value>32067</value>
    <shrsOrPrnAmt>
      <sshPrnamt>300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>300</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Colony Bankcorp Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>19623P101</cusip>
    <value>4996035</value>
    <shrsOrPrnAmt>
      <sshPrnamt>250177</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>234677</Sole>
      <Shared>0</Shared>
      <None>15500</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Columbus McKinnon Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>199333105</cusip>
    <value>5386677</value>
    <shrsOrPrnAmt>
      <sshPrnamt>370728</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>370728</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Comcast Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>20030N101</cusip>
    <value>1135481</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39550</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>39550</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Commercial Metals Co</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>201723103</cusip>
    <value>301499</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4908</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>130</Sole>
      <Shared>0</Shared>
      <None>4778</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Compass Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>20464U100</cusip>
    <value>6418911</value>
    <shrsOrPrnAmt>
      <sshPrnamt>878100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>878100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Compugen Ltd</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>M25722105</cusip>
    <value>67585</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31730</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>31730</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Comtech Telecommunications Corp.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>205826209</cusip>
    <value>236384</value>
    <shrsOrPrnAmt>
      <sshPrnamt>71200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>71200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Concrete Pumping Holdings Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>206704108</cusip>
    <value>344862</value>
    <shrsOrPrnAmt>
      <sshPrnamt>48300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>48300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Consensus Cloud Solutions Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>20848V105</cusip>
    <value>4726681</value>
    <shrsOrPrnAmt>
      <sshPrnamt>199102</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>199102</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Constellation Brands Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>21036P108</cusip>
    <value>81900</value>
    <shrsOrPrnAmt>
      <sshPrnamt>546</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>546</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Constellium SE</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>F21107101</cusip>
    <value>7784486</value>
    <shrsOrPrnAmt>
      <sshPrnamt>316700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>316700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Construction Partners inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>21044C107</cusip>
    <value>296690</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2670</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>70</Sole>
      <Shared>0</Shared>
      <None>2600</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Core Molding Technologies Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>218683100</cusip>
    <value>358400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>16000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Corteva Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>22052L104</cusip>
    <value>1434789</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17140</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>17140</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Costco Wholesale Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>22160K105</cusip>
    <value>4232834</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4248</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4233</Sole>
      <Shared>0</Shared>
      <None>15</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Covista Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00737L103</cusip>
    <value>6753650</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>58600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Credo Technology Group Holding Ltd</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>G25457105</cusip>
    <value>4038288</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43020</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>40520</Sole>
      <Shared>0</Shared>
      <None>2500</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Crexendo Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>226552107</cusip>
    <value>276416</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>44800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Crocs Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>227046109</cusip>
    <value>12453</value>
    <shrsOrPrnAmt>
      <sshPrnamt>150</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>150</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CTS Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>126501105</cusip>
    <value>8409103</value>
    <shrsOrPrnAmt>
      <sshPrnamt>176070</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>169870</Sole>
      <Shared>0</Shared>
      <None>6200</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Customers Bancorp Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>23204G100</cusip>
    <value>313733</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4520</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>120</Sole>
      <Shared>0</Shared>
      <None>4400</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Daktronics Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>234264109</cusip>
    <value>7665341</value>
    <shrsOrPrnAmt>
      <sshPrnamt>392089</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>376889</Sole>
      <Shared>0</Shared>
      <None>15200</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dana Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>235825205</cusip>
    <value>414568</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12320</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>320</Sole>
      <Shared>0</Shared>
      <None>12000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dawson Geophysical Co</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>239360100</cusip>
    <value>119038</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34404</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>34404</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Definitive Healthcare Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>24477E103</cusip>
    <value>92619</value>
    <shrsOrPrnAmt>
      <sshPrnamt>75300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>75300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Delek US Holdings Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>24665A103</cusip>
    <value>9707627</value>
    <shrsOrPrnAmt>
      <sshPrnamt>215390</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>208390</Sole>
      <Shared>0</Shared>
      <None>7000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Deluxe Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>248019101</cusip>
    <value>19003</value>
    <shrsOrPrnAmt>
      <sshPrnamt>690</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>690</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Diebold Nixdorf Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>253651202</cusip>
    <value>9632179</value>
    <shrsOrPrnAmt>
      <sshPrnamt>127680</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>123480</Sole>
      <Shared>0</Shared>
      <None>4200</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Digi International Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>253798102</cusip>
    <value>9622407</value>
    <shrsOrPrnAmt>
      <sshPrnamt>199635</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>193135</Sole>
      <Shared>0</Shared>
      <None>6500</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Diodes Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>254543101</cusip>
    <value>336522</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4930</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>130</Sole>
      <Shared>0</Shared>
      <None>4800</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Direxion Daily FTSE China Bull</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>25460G195</cusip>
    <value>4265</value>
    <shrsOrPrnAmt>
      <sshPrnamt>130</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>130</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Direxion Daily MSCI India Bull</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>25490K331</cusip>
    <value>7062</value>
    <shrsOrPrnAmt>
      <sshPrnamt>170</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>170</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Diversified Healthcare Trust</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>25525P107</cusip>
    <value>362544</value>
    <shrsOrPrnAmt>
      <sshPrnamt>54600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1400</Sole>
      <Shared>0</Shared>
      <None>53200</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DocuSign Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>256163106</cusip>
    <value>733907</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15480</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>15480</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dolby Laboratories Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>25659T107</cusip>
    <value>828828</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>13800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Donaldson Co Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>257651109</cusip>
    <value>1161022</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13680</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>13680</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Douglas Dynamics Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>25960R105</cusip>
    <value>8215547</value>
    <shrsOrPrnAmt>
      <sshPrnamt>195190</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>188190</Sole>
      <Shared>0</Shared>
      <None>7000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dow Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>260557103</cusip>
    <value>18326</value>
    <shrsOrPrnAmt>
      <sshPrnamt>440</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>440</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Drilling Tools International Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>26205E107</cusip>
    <value>390999</value>
    <shrsOrPrnAmt>
      <sshPrnamt>90300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>90300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dropbox Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>26210C104</cusip>
    <value>1038304</value>
    <shrsOrPrnAmt>
      <sshPrnamt>45700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>45700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DXC Technology Co</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>23355L106</cusip>
    <value>5304540</value>
    <shrsOrPrnAmt>
      <sshPrnamt>422000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>422000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dycom Industries Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>267475101</cusip>
    <value>8800850</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25975</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>25075</Sole>
      <Shared>0</Shared>
      <None>900</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Eastern Bankshares Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>27627N105</cusip>
    <value>317459</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16230</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>430</Sole>
      <Shared>0</Shared>
      <None>15800</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>eGain Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>28225C806</cusip>
    <value>2053017</value>
    <shrsOrPrnAmt>
      <sshPrnamt>260205</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>260205</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>El Pollo Loco Holdings Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>268603107</cusip>
    <value>8091413</value>
    <shrsOrPrnAmt>
      <sshPrnamt>583796</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>583796</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Electromed Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>285409108</cusip>
    <value>187280</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>8000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Eli Lilly and Co</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>532457108</cusip>
    <value>7829083</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8512</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>8512</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Emera Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>290876101</cusip>
    <value>33181877</value>
    <shrsOrPrnAmt>
      <sshPrnamt>640280</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>136760</Sole>
      <Shared>0</Shared>
      <None>503520</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Enanta Pharmaceuticals Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>29251M106</cusip>
    <value>5500491</value>
    <shrsOrPrnAmt>
      <sshPrnamt>435510</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>412910</Sole>
      <Shared>0</Shared>
      <None>22600</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Enbridge Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>29250N105</cusip>
    <value>47925922</value>
    <shrsOrPrnAmt>
      <sshPrnamt>884313</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>58565</Sole>
      <Shared>0</Shared>
      <None>825748</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Encore Capital Group Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>292554102</cusip>
    <value>10015801</value>
    <shrsOrPrnAmt>
      <sshPrnamt>142838</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>137238</Sole>
      <Shared>0</Shared>
      <None>5600</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Enerflex Ltd</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>29269R105</cusip>
    <value>80133733</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3831659</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2124562</Sole>
      <Shared>0</Shared>
      <None>1707097</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Energy Services of America Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>29271Q103</cusip>
    <value>361075</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>27500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Enerpac Tool Group Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>292765104</cusip>
    <value>6557306</value>
    <shrsOrPrnAmt>
      <sshPrnamt>179800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>179800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EnerSys</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>29275Y102</cusip>
    <value>11278076</value>
    <shrsOrPrnAmt>
      <sshPrnamt>64921</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>62710</Sole>
      <Shared>0</Shared>
      <None>2211</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Enova International Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>29357K103</cusip>
    <value>8450120</value>
    <shrsOrPrnAmt>
      <sshPrnamt>62211</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>59960</Sole>
      <Shared>0</Shared>
      <None>2251</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ensign Group Inc (The)</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>29358P101</cusip>
    <value>372775</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1850</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>50</Sole>
      <Shared>0</Shared>
      <None>1800</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Envela Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>29402E102</cusip>
    <value>323204</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>19400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Envista Holdings Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>29415F104</cusip>
    <value>22833</value>
    <shrsOrPrnAmt>
      <sshPrnamt>900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EPAM Systems Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>29414B104</cusip>
    <value>4079602</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30130</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>30130</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Equinor ASA</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>29446M102</cusip>
    <value>573498</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13590</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>13590</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ero Copper Corp.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>296006109</cusip>
    <value>18491309</value>
    <shrsOrPrnAmt>
      <sshPrnamt>694080</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>340030</Sole>
      <Shared>0</Shared>
      <None>354050</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Escalade Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>296056104</cusip>
    <value>310777</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>18100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ESCO Technologies Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>296315104</cusip>
    <value>6921702</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>24600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Etsy Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>29786A106</cusip>
    <value>4045881</value>
    <shrsOrPrnAmt>
      <sshPrnamt>80950</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>80950</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>European Wax Center Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>29882P106</cusip>
    <value>10404</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Everest Group Ltd</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>G3223R108</cusip>
    <value>1127633</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3450</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3450</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EverQuote Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>30041R108</cusip>
    <value>3521928</value>
    <shrsOrPrnAmt>
      <sshPrnamt>228400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>228400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Exelixis Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>30161Q104</cusip>
    <value>4280422</value>
    <shrsOrPrnAmt>
      <sshPrnamt>99800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>99800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ExlService Holdings Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>302081104</cusip>
    <value>6114969</value>
    <shrsOrPrnAmt>
      <sshPrnamt>200820</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>200820</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Expedia Group Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>30212P303</cusip>
    <value>1216790</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5270</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5270</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Extreme Networks Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>30226D106</cusip>
    <value>4654592</value>
    <shrsOrPrnAmt>
      <sshPrnamt>308660</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>292760</Sole>
      <Shared>0</Shared>
      <None>15900</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Exxon Mobil Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>30231G102</cusip>
    <value>2136019</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12590</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>12590</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>F.N.B. Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>302520101</cusip>
    <value>3380784</value>
    <shrsOrPrnAmt>
      <sshPrnamt>202200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>202200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FB Financial Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>30257X104</cusip>
    <value>298655</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5750</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>150</Sole>
      <Shared>0</Shared>
      <None>5600</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Federal Signal Corp.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>313855108</cusip>
    <value>311443</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2880</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>80</Sole>
      <Shared>0</Shared>
      <None>2800</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fidelis Insurance Holdings Limited</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>G3398L118</cusip>
    <value>7366905</value>
    <shrsOrPrnAmt>
      <sshPrnamt>385500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>385500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIGS Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>30260D103</cusip>
    <value>7028452</value>
    <shrsOrPrnAmt>
      <sshPrnamt>475860</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>455060</Sole>
      <Shared>0</Shared>
      <None>20800</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Financial Institutions Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>317585404</cusip>
    <value>7390967</value>
    <shrsOrPrnAmt>
      <sshPrnamt>233080</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>233080</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>First BanCorp (Puerto Rico)</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>318672706</cusip>
    <value>75828</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3550</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3550</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>First Business Financial Services Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>319390100</cusip>
    <value>4480020</value>
    <shrsOrPrnAmt>
      <sshPrnamt>83071</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>83071</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>First Financial Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>320218100</cusip>
    <value>266072</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4210</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>110</Sole>
      <Shared>0</Shared>
      <None>4100</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>First Majestic Silver Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>32076V103</cusip>
    <value>36086115</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1683825</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>841085</Sole>
      <Shared>0</Shared>
      <None>842740</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FirstCash Holdings Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>33768G107</cusip>
    <value>366600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1950</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>50</Sole>
      <Shared>0</Shared>
      <None>1900</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fiserv Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>337738108</cusip>
    <value>54963</value>
    <shrsOrPrnAmt>
      <sshPrnamt>985</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>985</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Flexsteel Industries Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>339382103</cusip>
    <value>341544</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>7600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Flowserve Corp.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>34354P105</cusip>
    <value>5538979</value>
    <shrsOrPrnAmt>
      <sshPrnamt>75350</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>75350</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ford Motor Co</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>345370860</cusip>
    <value>73856</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>6400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FormFactor Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>346375108</cusip>
    <value>5985253</value>
    <shrsOrPrnAmt>
      <sshPrnamt>61710</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>57710</Sole>
      <Shared>0</Shared>
      <None>4000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fortinet Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>34959E109</cusip>
    <value>1098317</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13440</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>13440</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FORTIS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>349553107</cusip>
    <value>60720135</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1088628</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>21978</Sole>
      <Shared>0</Shared>
      <None>1066650</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fortrea Holdings Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>34965K107</cusip>
    <value>2989908</value>
    <shrsOrPrnAmt>
      <sshPrnamt>317400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>317400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fortuna Mining Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>349942102</cusip>
    <value>12966421</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1304555</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>629170</Sole>
      <Shared>0</Shared>
      <None>675385</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Forum Energy Technologies Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>34984V209</cusip>
    <value>7681527</value>
    <shrsOrPrnAmt>
      <sshPrnamt>130950</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>125450</Sole>
      <Shared>0</Shared>
      <None>5500</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Franco-Nevada Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>351858105</cusip>
    <value>11212995</value>
    <shrsOrPrnAmt>
      <sshPrnamt>45296</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3646</Sole>
      <Shared>0</Shared>
      <None>41650</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Franklin Electric Co Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>353514102</cusip>
    <value>6986486</value>
    <shrsOrPrnAmt>
      <sshPrnamt>75800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>75800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FreightCar America Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>357023100</cusip>
    <value>2292084</value>
    <shrsOrPrnAmt>
      <sshPrnamt>287589</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>287589</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Freshworks Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>358054104</cusip>
    <value>1056748</value>
    <shrsOrPrnAmt>
      <sshPrnamt>131600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>131600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Friedman Industries Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>358435105</cusip>
    <value>99604</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5621</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5621</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Frontdoor Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>35905A109</cusip>
    <value>8475572</value>
    <shrsOrPrnAmt>
      <sshPrnamt>160340</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>154740</Sole>
      <Shared>0</Shared>
      <None>5600</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gap Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>364760108</cusip>
    <value>2020700</value>
    <shrsOrPrnAmt>
      <sshPrnamt>83500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>83500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Garmin Ltd</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>H2906T109</cusip>
    <value>1136849</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Garrett Motion Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>366505105</cusip>
    <value>10855794</value>
    <shrsOrPrnAmt>
      <sshPrnamt>597457</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>577050</Sole>
      <Shared>0</Shared>
      <None>20407</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GE Aerospace</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>369604301</cusip>
    <value>3405240</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>12000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GE Vernova Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>36828A101</cusip>
    <value>2225895</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2550</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2550</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gen Digital Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>668771108</cusip>
    <value>557368</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>29600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>General Motors Co</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>37045V100</cusip>
    <value>1022885</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13730</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>13730</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Genie Energy Ltd</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>372284208</cusip>
    <value>364812</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>25800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Genpact Ltd</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>G3922B107</cusip>
    <value>4396245</value>
    <shrsOrPrnAmt>
      <sshPrnamt>118020</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>118020</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gentex Corporation</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>371901109</cusip>
    <value>4117633</value>
    <shrsOrPrnAmt>
      <sshPrnamt>188450</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>188450</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gentherm Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>37253A103</cusip>
    <value>5735070</value>
    <shrsOrPrnAmt>
      <sshPrnamt>206446</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>206446</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gilead Sciences Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>375558103</cusip>
    <value>1170708</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>8400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Global Industrial Co</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>37892E102</cusip>
    <value>6275348</value>
    <shrsOrPrnAmt>
      <sshPrnamt>199091</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>199091</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Global X Defense Tech ETF</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>37960A529</cusip>
    <value>7084</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>100</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Globe Life Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>37959E102</cusip>
    <value>1468244</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10550</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>10550</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Globus Medical Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>379577208</cusip>
    <value>3747960</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>43500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GoDaddy Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>380237107</cusip>
    <value>964759</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11670</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>11670</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Goldman Sachs ActiveBeta World</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>38149W739</cusip>
    <value>2308</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>41</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Goldman Sachs Group Inc (The)</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>38141G104</cusip>
    <value>5893166</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6966</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>6966</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Graco Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>384109104</cusip>
    <value>1083520</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>12800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Green Plains Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>393222104</cusip>
    <value>4595720</value>
    <shrsOrPrnAmt>
      <sshPrnamt>279375</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>255775</Sole>
      <Shared>0</Shared>
      <None>23600</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Greenlight Capital Re Ltd</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>G4095J109</cusip>
    <value>1116899</value>
    <shrsOrPrnAmt>
      <sshPrnamt>64598</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>64598</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Griffon Corp.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>398433102</cusip>
    <value>253653</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3490</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>90</Sole>
      <Shared>0</Shared>
      <None>3400</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Guardant Health Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>40131M109</cusip>
    <value>11489350</value>
    <shrsOrPrnAmt>
      <sshPrnamt>124384</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>121380</Sole>
      <Shared>0</Shared>
      <None>3004</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gulfport Energy Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>402635502</cusip>
    <value>5424655</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25640</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>24140</Sole>
      <Shared>0</Shared>
      <None>1500</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hackett Group Inc (The)</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>404609109</cusip>
    <value>286975</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22058</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>22058</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Halozyme Therapeutics Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>40637H109</cusip>
    <value>7112532</value>
    <shrsOrPrnAmt>
      <sshPrnamt>110050</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>110050</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hanmi Financial Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>410495204</cusip>
    <value>5421330</value>
    <shrsOrPrnAmt>
      <sshPrnamt>205665</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>205665</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hanover Insurance Group Inc (The)</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>410867105</cusip>
    <value>2825605</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>16300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Harmonic Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>413160102</cusip>
    <value>6018396</value>
    <shrsOrPrnAmt>
      <sshPrnamt>670200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>670200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Harmony Biosciences Holdings Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>413197104</cusip>
    <value>3848574</value>
    <shrsOrPrnAmt>
      <sshPrnamt>137400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>137400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hartford Insurance Group Inc (The)</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>416515104</cusip>
    <value>1129171</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8350</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>8350</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hasbro Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>418056107</cusip>
    <value>1107288</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11830</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>11830</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HCA Healthcare Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>40412C101</cusip>
    <value>1154706</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2440</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2440</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Healthcare Services Group Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>421906108</cusip>
    <value>8561011</value>
    <shrsOrPrnAmt>
      <sshPrnamt>461510</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>442610</Sole>
      <Shared>0</Shared>
      <None>18900</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Helios Technologies Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>42328H109</cusip>
    <value>7313524</value>
    <shrsOrPrnAmt>
      <sshPrnamt>113020</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>108620</Sole>
      <Shared>0</Shared>
      <None>4400</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Henry Schein Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>806407102</cusip>
    <value>1078231</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14630</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>14630</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hercules Capital Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>427096508</cusip>
    <value>127317</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8620</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>8620</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HF Sinclair Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>403949100</cusip>
    <value>1353863</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>21700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HIVE Digital Technologies Ltd</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>433921103</cusip>
    <value>75</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>40</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Holley Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>43538H103</cusip>
    <value>5923445</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1929461</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1839561</Sole>
      <Shared>0</Shared>
      <None>89900</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Home Bancorp Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>43689E107</cusip>
    <value>2969087</value>
    <shrsOrPrnAmt>
      <sshPrnamt>49011</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>49011</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Home Depot Inc. (The)</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>437076102</cusip>
    <value>6578</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>20</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Horace Mann Educators Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>440327104</cusip>
    <value>2458368</value>
    <shrsOrPrnAmt>
      <sshPrnamt>57600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>57600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Host Hotels &amp; Resorts Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>44107P104</cusip>
    <value>5161704</value>
    <shrsOrPrnAmt>
      <sshPrnamt>269400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>269400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HP Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>40434L105</cusip>
    <value>737664</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>38400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hudbay Minerals Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>443628102</cusip>
    <value>12355924</value>
    <shrsOrPrnAmt>
      <sshPrnamt>590200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>293700</Sole>
      <Shared>0</Shared>
      <None>296500</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Huron Consulting Group Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>447462102</cusip>
    <value>6100397</value>
    <shrsOrPrnAmt>
      <sshPrnamt>47850</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>47850</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IAMGold Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>450913108</cusip>
    <value>37470673</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1993050</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1149235</Sole>
      <Shared>0</Shared>
      <None>843815</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ibex Ltd</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>G4690M101</cusip>
    <value>7085844</value>
    <shrsOrPrnAmt>
      <sshPrnamt>264200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>264200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>iBio Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>451033708</cusip>
    <value>61</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>32</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IDEX Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>45167R104</cusip>
    <value>17060</value>
    <shrsOrPrnAmt>
      <sshPrnamt>90</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>90</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Illinois Tool Works Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>452308109</cusip>
    <value>131446</value>
    <shrsOrPrnAmt>
      <sshPrnamt>505</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>505</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Industrial Logistics Properties Trust</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>456237106</cusip>
    <value>376584</value>
    <shrsOrPrnAmt>
      <sshPrnamt>66300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>66300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Information Services Group Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>45675Y104</cusip>
    <value>3245579</value>
    <shrsOrPrnAmt>
      <sshPrnamt>845203</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>845203</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>InfuSystem Holdings Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>45685K102</cusip>
    <value>4175402</value>
    <shrsOrPrnAmt>
      <sshPrnamt>452373</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>452373</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>InnovAge Holding Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>45784A104</cusip>
    <value>4250471</value>
    <shrsOrPrnAmt>
      <sshPrnamt>529984</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>493984</Sole>
      <Shared>0</Shared>
      <None>36000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Innovative Solutions and Support Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>45769N105</cusip>
    <value>4373</value>
    <shrsOrPrnAmt>
      <sshPrnamt>213</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>213</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Intellicheck Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>45817G201</cusip>
    <value>377460</value>
    <shrsOrPrnAmt>
      <sshPrnamt>54000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>54000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Interface Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>458665304</cusip>
    <value>7700604</value>
    <shrsOrPrnAmt>
      <sshPrnamt>309013</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>309013</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>inTEST Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>461147100</cusip>
    <value>295796</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21670</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>570</Sole>
      <Shared>0</Shared>
      <None>21100</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Intrepid Potash Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>46121Y201</cusip>
    <value>461916</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>10800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Intuit Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>461202103</cusip>
    <value>1410424</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3262</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3262</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Intuitive Surgical Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>46120E602</cusip>
    <value>1456728</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3160</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3160</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Invesco QQQ Trust Series 1</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>46090E103</cusip>
    <value>2886</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Invesco Senior Loan ETF</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>46138G508</cusip>
    <value>1149287</value>
    <shrsOrPrnAmt>
      <sshPrnamt>56310</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>56310</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ionis Pharmaceuticals Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>462222100</cusip>
    <value>5323881</value>
    <shrsOrPrnAmt>
      <sshPrnamt>70900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>70900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IQVIA Holdings Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>46266C105</cusip>
    <value>849289</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4980</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4980</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>iRhythm Holdings Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>450056106</cusip>
    <value>4124799</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34950</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>33050</Sole>
      <Shared>0</Shared>
      <None>1900</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ironwood Pharmaceuticals Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>46333X108</cusip>
    <value>4340565</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1236628</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1156228</Sole>
      <Shared>0</Shared>
      <None>80400</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>iShares Broad USD High Yield Corporate Bond ETF</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>46435U853</cusip>
    <value>536759</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14570</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>14570</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>iShares China Large-Cap ETF</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>464287184</cusip>
    <value>9334</value>
    <shrsOrPrnAmt>
      <sshPrnamt>260</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>260</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>iShares Core MSCI EAFE ETF</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>46432F842</cusip>
    <value>1901</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>21</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>iShares iBoxx Investment Grade Corporate Bond ETF</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>464287242</cusip>
    <value>517703</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4750</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4750</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>iShares MBS ETF</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>464288588</cusip>
    <value>325679</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3430</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3430</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>iShares MSCI Emerging Markets </nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>464286533</cusip>
    <value>1877</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>29</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>iShares MSCI India Small-Cap ETF</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>46429B614</cusip>
    <value>30826515</value>
    <shrsOrPrnAmt>
      <sshPrnamt>514118</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>514118</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>iShares Preferred and Income Securities ETF</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>464288687</cusip>
    <value>906265</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29890</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>29890</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>iShares Trust - iShares Russell 2000 ETF</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>464287655</cusip>
    <value>1240</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ITT Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>45073V108</cusip>
    <value>4439349</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>23300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jabil Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>466313103</cusip>
    <value>1301587</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jackson Financial Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>46817M107</cusip>
    <value>8191186</value>
    <shrsOrPrnAmt>
      <sshPrnamt>77480</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>74480</Sole>
      <Shared>0</Shared>
      <None>3000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jacobs Solutions Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>46982L108</cusip>
    <value>1099699</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8640</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>8640</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>James River Group Holdings Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>46990A102</cusip>
    <value>2827818</value>
    <shrsOrPrnAmt>
      <sshPrnamt>448860</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>448860</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Janus International Group Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>47103N106</cusip>
    <value>3319175</value>
    <shrsOrPrnAmt>
      <sshPrnamt>644500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>644500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>JBT Marel Corporation</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>477839104</cusip>
    <value>249347</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1950</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>50</Sole>
      <Shared>0</Shared>
      <None>1900</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>JFrog Ltd</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>M6191J100</cusip>
    <value>2942511</value>
    <shrsOrPrnAmt>
      <sshPrnamt>62700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>62700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>John Wiley &amp; Sons Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>968223206</cusip>
    <value>2901315</value>
    <shrsOrPrnAmt>
      <sshPrnamt>76150</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>76150</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>JOHNSON &amp; JOHNSON</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>478160104</cusip>
    <value>4162080</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17027</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>16212</Sole>
      <Shared>0</Shared>
      <None>815</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>JPMorgan Chase &amp; Co</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>46625H100</cusip>
    <value>9157789</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31132</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>30492</Sole>
      <Shared>0</Shared>
      <None>640</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kaltura Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>483467106</cusip>
    <value>138592</value>
    <shrsOrPrnAmt>
      <sshPrnamt>113600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>113600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>KBR Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>48242W106</cusip>
    <value>3133100</value>
    <shrsOrPrnAmt>
      <sshPrnamt>85000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>85000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kennametal Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>489170100</cusip>
    <value>371055</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10270</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>270</Sole>
      <Shared>0</Shared>
      <None>10000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Keysight Technologies Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>49338L103</cusip>
    <value>31061</value>
    <shrsOrPrnAmt>
      <sshPrnamt>110</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>110</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kinross Gold Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>496902404</cusip>
    <value>45902381</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1501773</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>553297</Sole>
      <Shared>0</Shared>
      <None>948476</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>KLA Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>482480100</cusip>
    <value>1353145</value>
    <shrsOrPrnAmt>
      <sshPrnamt>919</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>919</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kontoor Brands Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>50050N103</cusip>
    <value>7570233</value>
    <shrsOrPrnAmt>
      <sshPrnamt>107700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>107700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>KORU Medical Systems Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>759910102</cusip>
    <value>265680</value>
    <shrsOrPrnAmt>
      <sshPrnamt>61500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1600</Sole>
      <Shared>0</Shared>
      <None>59900</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kroger Co. (The)</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>501044101</cusip>
    <value>1063692</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>14700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kulicke and Soffa Industries Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>501242101</cusip>
    <value>7598546</value>
    <shrsOrPrnAmt>
      <sshPrnamt>115620</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>111120</Sole>
      <Shared>0</Shared>
      <None>4500</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>KVH Industries Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>482738101</cusip>
    <value>302364</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33746</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>33746</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>L.B. Foster Co</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>350060109</cusip>
    <value>354330</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>12700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lam Research Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>512807306</cusip>
    <value>6337156</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29660</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>29660</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lantronix Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>516548203</cusip>
    <value>295808</value>
    <shrsOrPrnAmt>
      <sshPrnamt>56452</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>56452</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Las Vegas Sands Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>517834107</cusip>
    <value>1025336</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19030</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>19030</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Laureate Education Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>518613203</cusip>
    <value>10839108</value>
    <shrsOrPrnAmt>
      <sshPrnamt>311111</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>304211</Sole>
      <Shared>0</Shared>
      <None>6900</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LCI Industries</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>50189K103</cusip>
    <value>7043065</value>
    <shrsOrPrnAmt>
      <sshPrnamt>57270</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>54670</Sole>
      <Shared>0</Shared>
      <None>2600</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LegalZoom.com Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>52466B103</cusip>
    <value>4413699</value>
    <shrsOrPrnAmt>
      <sshPrnamt>778430</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>778430</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Leidos Holdings Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>525327102</cusip>
    <value>1012435</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6510</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>6510</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lemonade Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>52567D107</cusip>
    <value>5064544</value>
    <shrsOrPrnAmt>
      <sshPrnamt>80800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>80800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LendingClub Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>52603A208</cusip>
    <value>242581</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16940</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>440</Sole>
      <Shared>0</Shared>
      <None>16500</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ligand Pharmaceuticals Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>53220K504</cusip>
    <value>307461</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1540</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>40</Sole>
      <Shared>0</Shared>
      <None>1500</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lightspeed Commerce Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>53229C107</cusip>
    <value>33973</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lincoln Electric Holdings Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>533900106</cusip>
    <value>4010188</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>16100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lincoln National Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>534187109</cusip>
    <value>14200</value>
    <shrsOrPrnAmt>
      <sshPrnamt>400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Littelfuse Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>537008104</cusip>
    <value>4411550</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>13000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Liveramp Holdings Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>53815P108</cusip>
    <value>7551570</value>
    <shrsOrPrnAmt>
      <sshPrnamt>284750</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>275650</Sole>
      <Shared>0</Shared>
      <None>9100</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lockheed Martin Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>539830109</cusip>
    <value>1293395</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2140</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2140</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LSB Industries Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>502160104</cusip>
    <value>4416062</value>
    <shrsOrPrnAmt>
      <sshPrnamt>296380</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>278280</Sole>
      <Shared>0</Shared>
      <None>18100</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lyft Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>55087P104</cusip>
    <value>2661330</value>
    <shrsOrPrnAmt>
      <sshPrnamt>200100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>200100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Macy's Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>55616P104</cusip>
    <value>14472</value>
    <shrsOrPrnAmt>
      <sshPrnamt>800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Madison Square Garden Entertainment Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>558256103</cusip>
    <value>284535</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4830</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>130</Sole>
      <Shared>0</Shared>
      <None>4700</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Magna International Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>559222401</cusip>
    <value>46486196</value>
    <shrsOrPrnAmt>
      <sshPrnamt>832575</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>253380</Sole>
      <Shared>0</Shared>
      <None>579195</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mako Mining Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>56089A400</cusip>
    <value>426930</value>
    <shrsOrPrnAmt>
      <sshPrnamt>66300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>66300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Manulife Financial Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>56501R106</cusip>
    <value>64284861</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1866622</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>352930</Sole>
      <Shared>0</Shared>
      <None>1513692</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Maplebear Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>565394103</cusip>
    <value>1165006</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>31100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Marathon Petroleum Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>56585A102</cusip>
    <value>1367408</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Masco Corporation</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>574599106</cusip>
    <value>12074</value>
    <shrsOrPrnAmt>
      <sshPrnamt>200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mastercard Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>57636Q104</cusip>
    <value>7602826</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15216</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>15176</Sole>
      <Shared>0</Shared>
      <None>40</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Match Group Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>57667L107</cusip>
    <value>4681740</value>
    <shrsOrPrnAmt>
      <sshPrnamt>152450</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>152450</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Materion Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>576690101</cusip>
    <value>371751</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2570</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>70</Sole>
      <Shared>0</Shared>
      <None>2500</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mattel Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>577081102</cusip>
    <value>779941</value>
    <shrsOrPrnAmt>
      <sshPrnamt>53678</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>53678</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>McDonald's Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>580135101</cusip>
    <value>2358896</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7590</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>7590</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>McKesson Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>58155Q103</cusip>
    <value>1319674</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1525</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1525</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Merck and Co Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>58933Y105</cusip>
    <value>223860</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1861</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1861</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Meridian Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>58958P104</cusip>
    <value>345072</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>18200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Meta Platforms Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>30303M102</cusip>
    <value>16268516</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28435</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>28330</Sole>
      <Shared>0</Shared>
      <None>105</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MetLife Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>59156R108</cusip>
    <value>14144</value>
    <shrsOrPrnAmt>
      <sshPrnamt>200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Micron Technology Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>595112103</cusip>
    <value>5226385</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15470</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>15470</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MICROSOFT CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>594918104</cusip>
    <value>30950656</value>
    <shrsOrPrnAmt>
      <sshPrnamt>83612</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>82772</Sole>
      <Shared>0</Shared>
      <None>840</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MiMedx Group Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>602496101</cusip>
    <value>5530</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mirum Pharmaceuticals Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>604749101</cusip>
    <value>5517858</value>
    <shrsOrPrnAmt>
      <sshPrnamt>59730</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>59730</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mistras Group Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>60649T107</cusip>
    <value>393148</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>26600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mitek Systems Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>606710200</cusip>
    <value>6924150</value>
    <shrsOrPrnAmt>
      <sshPrnamt>512900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>512900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Monarch Casino &amp; Resort Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>609027107</cusip>
    <value>7695800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>80500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>80500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Montrose Environmental Group Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>615111101</cusip>
    <value>251735</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>300</Sole>
      <Shared>0</Shared>
      <None>11200</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Moog Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>615394202</cusip>
    <value>359947</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1230</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>30</Sole>
      <Shared>0</Shared>
      <None>1200</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Morgan Stanley</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>617446448</cusip>
    <value>5549300</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33720</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>33720</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Morningstar Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>617700109</cusip>
    <value>1151231</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6810</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>6810</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Motorcar Parts of America Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>620071100</cusip>
    <value>305256</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>27600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MSCI Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>55354G100</cusip>
    <value>1051070</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1950</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1950</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mueller Water Products Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>624758108</cusip>
    <value>327406</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11910</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>310</Sole>
      <Shared>0</Shared>
      <None>11600</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Myers Industries Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>628464109</cusip>
    <value>3743777</value>
    <shrsOrPrnAmt>
      <sshPrnamt>176760</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>159560</Sole>
      <Shared>0</Shared>
      <None>17200</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MYR Group Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>55405W104</cusip>
    <value>9285505</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32890</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>31490</Sole>
      <Shared>0</Shared>
      <None>1400</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>National Vision Holdings Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>63845R107</cusip>
    <value>336726</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13001</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>340</Sole>
      <Shared>0</Shared>
      <None>12661</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nature's Sunshine Products Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>639027101</cusip>
    <value>7601639</value>
    <shrsOrPrnAmt>
      <sshPrnamt>316867</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>303367</Sole>
      <Shared>0</Shared>
      <None>13500</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Netflix Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>64110L106</cusip>
    <value>2625857</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27310</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>27310</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NETGEAR Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>64111Q104</cusip>
    <value>3226970</value>
    <shrsOrPrnAmt>
      <sshPrnamt>147755</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>147755</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NetScout Systems Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>64115T104</cusip>
    <value>8916936</value>
    <shrsOrPrnAmt>
      <sshPrnamt>280495</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>280495</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Newmark Group Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>65158N102</cusip>
    <value>7786406</value>
    <shrsOrPrnAmt>
      <sshPrnamt>519440</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>499540</Sole>
      <Shared>0</Shared>
      <None>19900</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Newmont Corporation</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>651639106</cusip>
    <value>1179925</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>10900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nextpower Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>65290E101</cusip>
    <value>371415</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3081</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>80</Sole>
      <Shared>0</Shared>
      <None>3001</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NICE Ltd</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>653656108</cusip>
    <value>107613</value>
    <shrsOrPrnAmt>
      <sshPrnamt>976</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>976</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>nLIGHT Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>65487K100</cusip>
    <value>6551142</value>
    <shrsOrPrnAmt>
      <sshPrnamt>114892</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>109392</Sole>
      <Shared>0</Shared>
      <None>5500</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NovoCure Limited</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>G6674U108</cusip>
    <value>1327620</value>
    <shrsOrPrnAmt>
      <sshPrnamt>121800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>121800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nutrien Ltd</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>67077M108</cusip>
    <value>13337185</value>
    <shrsOrPrnAmt>
      <sshPrnamt>176725</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4430</Sole>
      <Shared>0</Shared>
      <None>172295</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NVIDIA Corporation</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>67066G104</cusip>
    <value>47545973</value>
    <shrsOrPrnAmt>
      <sshPrnamt>272626</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>271643</Sole>
      <Shared>0</Shared>
      <None>983</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NWPX Infrastructure Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>667746101</cusip>
    <value>4609312</value>
    <shrsOrPrnAmt>
      <sshPrnamt>59200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>59200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Oil States International Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>678026105</cusip>
    <value>669300</value>
    <shrsOrPrnAmt>
      <sshPrnamt>57500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>27500</Sole>
      <Shared>0</Shared>
      <None>30000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>One Stop Systems Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>68247W109</cusip>
    <value>218349</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28844</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>28844</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>OneMain Holdings Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>68268W103</cusip>
    <value>63118</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1180</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1180</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>OneSpan Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>68287N100</cusip>
    <value>333801</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>31700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Onity Group Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>675746606</cusip>
    <value>357357</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>9100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ooma Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>683416101</cusip>
    <value>5847484</value>
    <shrsOrPrnAmt>
      <sshPrnamt>401889</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>401889</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>OPENLANE Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>48238T109</cusip>
    <value>7354545</value>
    <shrsOrPrnAmt>
      <sshPrnamt>252300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>252300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>OptimizeRX Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>68401U204</cusip>
    <value>127484</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>20300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Oracle Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>68389X105</cusip>
    <value>201541</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1370</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1370</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Oramed Pharmaceuticals Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>68403P203</cusip>
    <value>330820</value>
    <shrsOrPrnAmt>
      <sshPrnamt>97300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>97300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Orange County Bancorp Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>68417L107</cusip>
    <value>390156</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>12200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Orla Mining Ltd</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>68634K106</cusip>
    <value>6893442</value>
    <shrsOrPrnAmt>
      <sshPrnamt>428780</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>271180</Sole>
      <Shared>0</Shared>
      <None>157600</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Otis Worldwide Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>68902V107</cusip>
    <value>1143867</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14840</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>14000</Sole>
      <Shared>0</Shared>
      <None>840</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ouster Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>68989M202</cusip>
    <value>2180887</value>
    <shrsOrPrnAmt>
      <sshPrnamt>118720</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>108620</Sole>
      <Shared>0</Shared>
      <None>10100</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>OUTFRONT Media Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>69007J304</cusip>
    <value>299450</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>300</Sole>
      <Shared>0</Shared>
      <None>11000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ovintiv Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>69047Q102</cusip>
    <value>712269</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>12000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pacira BioSciences Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>695127100</cusip>
    <value>7487380</value>
    <shrsOrPrnAmt>
      <sshPrnamt>331300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>331300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Palantir Technologies Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>69608A108</cusip>
    <value>3126003</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21370</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>21370</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Palomar Holdings Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>69753M105</cusip>
    <value>293970</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2460</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>60</Sole>
      <Shared>0</Shared>
      <None>2400</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pan American Silver Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>697900108</cusip>
    <value>22711758</value>
    <shrsOrPrnAmt>
      <sshPrnamt>415270</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>118270</Sole>
      <Shared>0</Shared>
      <None>297000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Par Pacific Holdings Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>69888T207</cusip>
    <value>12466363</value>
    <shrsOrPrnAmt>
      <sshPrnamt>199016</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>193616</Sole>
      <Shared>0</Shared>
      <None>5400</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Parke Bancorp Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>700885106</cusip>
    <value>320920</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>11300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Paychex Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>704326107</cusip>
    <value>129889</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1410</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1410</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Paylocity Holding Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>70438V106</cusip>
    <value>3249843</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30080</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>30080</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PBF Energy Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>69318G106</cusip>
    <value>8527313</value>
    <shrsOrPrnAmt>
      <sshPrnamt>179070</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>172770</Sole>
      <Shared>0</Shared>
      <None>6300</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PCB Bancorp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>69320M109</cusip>
    <value>2226218</value>
    <shrsOrPrnAmt>
      <sshPrnamt>98987</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>98987</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pediatrix Medical Group Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>58502B106</cusip>
    <value>9910843</value>
    <shrsOrPrnAmt>
      <sshPrnamt>463340</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>450640</Sole>
      <Shared>0</Shared>
      <None>12700</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pegasystems Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>705573103</cusip>
    <value>1476832</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>34700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pembina Pipeline Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>706327103</cusip>
    <value>15021703</value>
    <shrsOrPrnAmt>
      <sshPrnamt>335664</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1875</Sole>
      <Shared>0</Shared>
      <None>333789</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PEPSICO INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>713448108</cusip>
    <value>4497974</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28965</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>28430</Sole>
      <Shared>0</Shared>
      <None>535</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Perma-Pipe International Holdings Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>714167103</cusip>
    <value>336853</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>11300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Petco Health and Wellness Co Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>71601V105</cusip>
    <value>3882890</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1396723</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1396723</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PFIZER INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>717081103</cusip>
    <value>82976</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2955</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>2955</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Phibro Animal Health Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>71742Q106</cusip>
    <value>414825</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>200</Sole>
      <Shared>0</Shared>
      <None>7300</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Philip Morris International Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>718172109</cusip>
    <value>605310</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3661</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3661</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PHINIA Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>71880K101</cusip>
    <value>9726008</value>
    <shrsOrPrnAmt>
      <sshPrnamt>142110</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>137910</Sole>
      <Shared>0</Shared>
      <None>4200</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pilgrim's Pride Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>72147K108</cusip>
    <value>415360</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>11000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PIMCO 0-5 Year High Yield Corporate Bond Index Exc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>72201R783</cusip>
    <value>645895</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6925</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>6925</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Planet Labs PBC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>72703X106</cusip>
    <value>318630</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>300</Sole>
      <Shared>0</Shared>
      <None>11100</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Playboy Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>72814P109</cusip>
    <value>227848</value>
    <shrsOrPrnAmt>
      <sshPrnamt>149900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>149900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Plexus Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>729132100</cusip>
    <value>8775046</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43325</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>41425</Sole>
      <Shared>0</Shared>
      <None>1900</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Precision Drilling Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>74022D407</cusip>
    <value>47957307</value>
    <shrsOrPrnAmt>
      <sshPrnamt>487434</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>243540</Sole>
      <Shared>0</Shared>
      <None>243894</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Primis Financial Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>74167B109</cusip>
    <value>333328</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>25100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Procore Technologies Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>74275K108</cusip>
    <value>3180600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>55800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>55800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Procter &amp; Gamble Co (The)</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>742718109</cusip>
    <value>3731029</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25831</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>25556</Sole>
      <Shared>0</Shared>
      <None>275</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Progress Software Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>743312100</cusip>
    <value>3656408</value>
    <shrsOrPrnAmt>
      <sshPrnamt>142550</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>142550</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ProShares UltraShort QQQ</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>74349Y829</cusip>
    <value>799671</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35290</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>35290</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ProShares UltraShort Russell2000</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>74347G168</cusip>
    <value>2455983</value>
    <shrsOrPrnAmt>
      <sshPrnamt>79302</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>79302</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Proto Labs Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>743713109</cusip>
    <value>9943376</value>
    <shrsOrPrnAmt>
      <sshPrnamt>174384</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>168384</Sole>
      <Shared>0</Shared>
      <None>6000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Provident Financial Services Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>74386T105</cusip>
    <value>65596</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Prudential Financial Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>744320102</cusip>
    <value>92806</value>
    <shrsOrPrnAmt>
      <sshPrnamt>950</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>950</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Q2 Holdings Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>74736L109</cusip>
    <value>3701037</value>
    <shrsOrPrnAmt>
      <sshPrnamt>78246</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>74846</Sole>
      <Shared>0</Shared>
      <None>3400</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>QCR Holdings Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>74727A104</cusip>
    <value>4160817</value>
    <shrsOrPrnAmt>
      <sshPrnamt>48693</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>48693</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Quad/Graphics Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>747301109</cusip>
    <value>1006683</value>
    <shrsOrPrnAmt>
      <sshPrnamt>152297</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>152297</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>QUALCOMM Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>747525103</cusip>
    <value>1421731</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11040</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>11040</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>QuinStreet Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>74874Q100</cusip>
    <value>1614144</value>
    <shrsOrPrnAmt>
      <sshPrnamt>134400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>134400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ralph Lauren Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>751212101</cusip>
    <value>3818289</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>11100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ranger Energy Services Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>75282U104</cusip>
    <value>5641597</value>
    <shrsOrPrnAmt>
      <sshPrnamt>329148</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>329148</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>RB Global Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>74935Q107</cusip>
    <value>12282111</value>
    <shrsOrPrnAmt>
      <sshPrnamt>128100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>128100</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>RBB Bancorp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>74930B105</cusip>
    <value>4731318</value>
    <shrsOrPrnAmt>
      <sshPrnamt>221400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>221400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>RE/MAX Holdings Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>75524W108</cusip>
    <value>3247372</value>
    <shrsOrPrnAmt>
      <sshPrnamt>563780</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>563780</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>RealReal Inc (The)</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>88339P101</cusip>
    <value>3955248</value>
    <shrsOrPrnAmt>
      <sshPrnamt>435600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>435600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Red River Bancshares Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>75686R202</cusip>
    <value>461244</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Red Violet Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>75704L104</cusip>
    <value>2214400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>64000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>64000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Regional Management Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>75902K106</cusip>
    <value>3144923</value>
    <shrsOrPrnAmt>
      <sshPrnamt>97517</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>97517</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Reinsurance Group of America Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>759351604</cusip>
    <value>4246528</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>20800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Relmada Therapeutics Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>75955J402</cusip>
    <value>373056</value>
    <shrsOrPrnAmt>
      <sshPrnamt>53600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1400</Sole>
      <Shared>0</Shared>
      <None>52200</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>RenaissanceRe Holdings Ltd</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>G7496G103</cusip>
    <value>5439309</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>18300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Research Solutions Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>761025105</cusip>
    <value>194360</value>
    <shrsOrPrnAmt>
      <sshPrnamt>86000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>86000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Resideo Technologies Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>76118Y104</cusip>
    <value>311480</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9240</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>240</Sole>
      <Shared>0</Shared>
      <None>9000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Restaurant Brands International Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>76131D103</cusip>
    <value>29117409</value>
    <shrsOrPrnAmt>
      <sshPrnamt>393580</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>12276</Sole>
      <Shared>0</Shared>
      <None>381304</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>RF Industries Ltd</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>749552105</cusip>
    <value>422772</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41006</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>41006</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rhythm Pharmaceuticals Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>76243J105</cusip>
    <value>3504891</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>40300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>RideNow Group Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>781386305</cusip>
    <value>456803</value>
    <shrsOrPrnAmt>
      <sshPrnamt>64703</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>64703</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>RingCentral Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>76680R206</cusip>
    <value>10935720</value>
    <shrsOrPrnAmt>
      <sshPrnamt>294050</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>294050</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rithm Capital Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>64828T201</cusip>
    <value>17064</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rockwell Automation Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>773903109</cusip>
    <value>17944</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>50</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rocky Brands Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>774515100</cusip>
    <value>6142735</value>
    <shrsOrPrnAmt>
      <sshPrnamt>158645</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>150445</Sole>
      <Shared>0</Shared>
      <None>8200</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rogers Communications Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>775109200</cusip>
    <value>38117366</value>
    <shrsOrPrnAmt>
      <sshPrnamt>991365</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>153965</Sole>
      <Shared>0</Shared>
      <None>837400</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rogers Corp.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>775133101</cusip>
    <value>374582</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3490</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>90</Sole>
      <Shared>0</Shared>
      <None>3400</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Roku Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>77543R102</cusip>
    <value>5249518</value>
    <shrsOrPrnAmt>
      <sshPrnamt>55480</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>55480</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Royal Bank of Canada</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>780087102</cusip>
    <value>172176796</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1065340</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>212004</Sole>
      <Shared>0</Shared>
      <None>853336</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Royalty Pharma plc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>G7709Q104</cusip>
    <value>1374341</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28650</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>28650</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rubrik Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>781154109</cusip>
    <value>2125298</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>43400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rush Street Interactive Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>782011100</cusip>
    <value>7871325</value>
    <shrsOrPrnAmt>
      <sshPrnamt>361900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>347000</Sole>
      <Shared>0</Shared>
      <None>14900</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SALESFORCE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>79466L302</cusip>
    <value>5542979</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29694</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>29694</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sally Beauty Holdings Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>79546E104</cusip>
    <value>6788938</value>
    <shrsOrPrnAmt>
      <sshPrnamt>490176</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>490176</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sandisk Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>80004C200</cusip>
    <value>9148896</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>14400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sanmina Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>801056102</cusip>
    <value>9648846</value>
    <shrsOrPrnAmt>
      <sshPrnamt>74428</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>72160</Sole>
      <Shared>0</Shared>
      <None>2268</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SAP SE</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>803054204</cusip>
    <value>100158</value>
    <shrsOrPrnAmt>
      <sshPrnamt>585</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>585</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Schwab (Charles) Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>808513105</cusip>
    <value>1078890</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11480</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>11480</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Scotts Miracle-Gro Co (The)</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>810186106</cusip>
    <value>63851</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1050</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1050</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sea Limited</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>81141R100</cusip>
    <value>52998</value>
    <shrsOrPrnAmt>
      <sshPrnamt>640</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>640</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Seacoast Banking Corp of Florida</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>811707801</cusip>
    <value>292299</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9650</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>250</Sole>
      <Shared>0</Shared>
      <None>9400</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SEI Investments Co</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>784117103</cusip>
    <value>1053852</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13430</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>13430</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Semtech Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>816850101</cusip>
    <value>229132</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2980</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>80</Sole>
      <Shared>0</Shared>
      <None>2900</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sensata Technologies Holding Plc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>G8060N102</cusip>
    <value>1186914</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>33700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ServisFirst Bancshares Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>81768T108</cusip>
    <value>284037</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>100</Sole>
      <Shared>0</Shared>
      <None>3800</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Shattuck Labs Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>82024L103</cusip>
    <value>420522</value>
    <shrsOrPrnAmt>
      <sshPrnamt>65400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1700</Sole>
      <Shared>0</Shared>
      <None>63700</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SHOPIFY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>82509L107</cusip>
    <value>46062328</value>
    <shrsOrPrnAmt>
      <sshPrnamt>388301</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>55449</Sole>
      <Shared>0</Shared>
      <None>332852</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sight Sciences Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>82657M105</cusip>
    <value>261261</value>
    <shrsOrPrnAmt>
      <sshPrnamt>69300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1800</Sole>
      <Shared>0</Shared>
      <None>67500</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Silicon Laboratories Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>826919102</cusip>
    <value>16652</value>
    <shrsOrPrnAmt>
      <sshPrnamt>80</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>80</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sirius XM Holdings Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>829933100</cusip>
    <value>907044</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>39300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SiTime Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>82982T106</cusip>
    <value>338098</value>
    <shrsOrPrnAmt>
      <sshPrnamt>979</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>25</Sole>
      <Shared>0</Shared>
      <None>954</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SkyWest Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>830879102</cusip>
    <value>6874394</value>
    <shrsOrPrnAmt>
      <sshPrnamt>74860</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>74860</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Skyworks Solutions Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>83088M102</cusip>
    <value>1908523</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35640</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>35640</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Smart Sand Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>83191H107</cusip>
    <value>454144</value>
    <shrsOrPrnAmt>
      <sshPrnamt>88700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>88700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SmartFinancial Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>83190L208</cusip>
    <value>345076</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8830</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>230</Sole>
      <Shared>0</Shared>
      <None>8600</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sonos Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>83570H108</cusip>
    <value>6648678</value>
    <shrsOrPrnAmt>
      <sshPrnamt>496170</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>474970</Sole>
      <Shared>0</Shared>
      <None>21200</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Southern First Bankshares Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>842873101</cusip>
    <value>358065</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6570</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>170</Sole>
      <Shared>0</Shared>
      <None>6400</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Southwest Gas Holdings Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>844895102</cusip>
    <value>267652</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3080</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>80</Sole>
      <Shared>0</Shared>
      <None>3000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPDR Gold Trust</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>78463V107</cusip>
    <value>2151</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>5</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Spectrum Brands Holdings Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>84790A105</cusip>
    <value>7414220</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>100600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sphere Entertainment Co</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>55826T102</cusip>
    <value>338112</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2880</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>80</Sole>
      <Shared>0</Shared>
      <None>2800</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Spotify Technology SA</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>L8681T102</cusip>
    <value>1124992</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2320</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2320</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sprinklr Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>85208T107</cusip>
    <value>5304000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>884000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>884000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sprott Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>852066208</cusip>
    <value>2132522</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14947</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>11583</Sole>
      <Shared>0</Shared>
      <None>3364</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPS Commerce Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>78463M107</cusip>
    <value>1452987</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>26100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPX Technologies Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>78473E103</cusip>
    <value>298511</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1493</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>40</Sole>
      <Shared>0</Shared>
      <None>1453</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SS&amp;C Technologies Holdings Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>78467J100</cusip>
    <value>988549</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14630</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>14630</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SSR Mining Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>784730103</cusip>
    <value>18775202</value>
    <shrsOrPrnAmt>
      <sshPrnamt>639352</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>312048</Sole>
      <Shared>0</Shared>
      <None>327304</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Stantec Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>85472N109</cusip>
    <value>5186</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>60</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Starbucks Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>855244109</cusip>
    <value>91830</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1025</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>1025</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Blackstone Senior Loan ETF</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>78467V608</cusip>
    <value>843743</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21020</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>21020</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street SPDR S and P 500 ETF Trust</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>78462F103</cusip>
    <value>3252</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Stifel Financial Corp.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>860630102</cusip>
    <value>1000877</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13540</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>13540</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Strattec Security Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>863111100</cusip>
    <value>368198</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Strawberry Fields REIT Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>863182101</cusip>
    <value>261800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>22000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sun Life Financial Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>866796105</cusip>
    <value>3141169</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50152</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>10197</Sole>
      <Shared>0</Shared>
      <None>39955</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Suncor Energy Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>867224107</cusip>
    <value>46740651</value>
    <shrsOrPrnAmt>
      <sshPrnamt>706845</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>303301</Sole>
      <Shared>0</Shared>
      <None>403544</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sunrun Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>86771W105</cusip>
    <value>4782816</value>
    <shrsOrPrnAmt>
      <sshPrnamt>352715</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>352715</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Super Group (SGHC) Ltd</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>G8588X103</cusip>
    <value>6965244</value>
    <shrsOrPrnAmt>
      <sshPrnamt>644930</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>617630</Sole>
      <Shared>0</Shared>
      <None>27300</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Suro Capital Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>86887Q109</cusip>
    <value>320229</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>29900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Synaptics Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>87157D109</cusip>
    <value>266152</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>100</Sole>
      <Shared>0</Shared>
      <None>3700</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tapestry Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>876030107</cusip>
    <value>1538099</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>10900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Taylor Devices Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>877163105</cusip>
    <value>250800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TC ENERGY CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>87807B107</cusip>
    <value>9577003</value>
    <shrsOrPrnAmt>
      <sshPrnamt>152977</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>19689</Sole>
      <Shared>0</Shared>
      <None>133288</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TD SYNNEX Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>87162W100</cusip>
    <value>5604546</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33220</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>33220</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TechnipFMC plc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>G87110105</cusip>
    <value>7652691</value>
    <shrsOrPrnAmt>
      <sshPrnamt>110700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>110700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Teck Resources Ltd</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>878742204</cusip>
    <value>36272</value>
    <shrsOrPrnAmt>
      <sshPrnamt>700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>700</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Telos Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>87969B101</cusip>
    <value>259361</value>
    <shrsOrPrnAmt>
      <sshPrnamt>61900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>61900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TELUS Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>87971M103</cusip>
    <value>256268</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19943</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>16563</Sole>
      <Shared>0</Shared>
      <None>3380</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tenet Healthcare Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>88033G407</cusip>
    <value>5357477</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28390</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>28390</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Teradata Corporation</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>88076W103</cusip>
    <value>8826972</value>
    <shrsOrPrnAmt>
      <sshPrnamt>344400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>344400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Terex Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>880779103</cusip>
    <value>5918274</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100140</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>94940</Sole>
      <Shared>0</Shared>
      <None>5200</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TESLA INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>88160R101</cusip>
    <value>6911204</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18591</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>18507</Sole>
      <Shared>0</Shared>
      <None>84</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tetra Tech Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>88162G103</cusip>
    <value>1004502</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33350</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>33350</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Texas Capital Bancshares Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>88224Q107</cusip>
    <value>4714587</value>
    <shrsOrPrnAmt>
      <sshPrnamt>49690</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>46290</Sole>
      <Shared>0</Shared>
      <None>3400</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>The Allstate Corporation</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>020002101</cusip>
    <value>1095792</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5285</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5285</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>The Bank of N T Butterfield &amp; Son Limited</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>G0772R208</cusip>
    <value>344794</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6570</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>170</Sole>
      <Shared>0</Shared>
      <None>6400</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>The Bank of Nova Scotia</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>064149107</cusip>
    <value>89661140</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1293232</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>215581</Sole>
      <Shared>0</Shared>
      <None>1077651</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>The Cigna Group</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>125523100</cusip>
    <value>1002980</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3760</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3760</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>The New York Times Company</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>650111107</cusip>
    <value>4856340</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>58000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Thermo Fisher Scientific Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>883556102</cusip>
    <value>275256</value>
    <shrsOrPrnAmt>
      <sshPrnamt>560</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>560</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Third Coast Bancshares Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>88422P109</cusip>
    <value>5621538</value>
    <shrsOrPrnAmt>
      <sshPrnamt>148600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>148600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Thomson Reuters Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>884903808</cusip>
    <value>81845</value>
    <shrsOrPrnAmt>
      <sshPrnamt>907</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>907</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tigo Energy Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>88675P103</cusip>
    <value>489176</value>
    <shrsOrPrnAmt>
      <sshPrnamt>130100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>130100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tilly's Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>886885102</cusip>
    <value>93790</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23158</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>23158</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TJX Companies Inc (The)</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>872540109</cusip>
    <value>1213720</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>7600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>T-Mobile US Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>872590104</cusip>
    <value>898928</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4280</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4280</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Toll Brothers Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>889478103</cusip>
    <value>1050819</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>7700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tompkins Financial Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>890110109</cusip>
    <value>7340004</value>
    <shrsOrPrnAmt>
      <sshPrnamt>93100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>93100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Toro Co (The)</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>891092108</cusip>
    <value>5403635</value>
    <shrsOrPrnAmt>
      <sshPrnamt>57830</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>57830</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Toronto-Dominion Bank (The)</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>891160509</cusip>
    <value>112185140</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1201500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>156573</Sole>
      <Shared>0</Shared>
      <None>1044927</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Travel Plus Leisure Co</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>894164102</cusip>
    <value>22141</value>
    <shrsOrPrnAmt>
      <sshPrnamt>320</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>320</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Travere Therapeutics Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>89422G107</cusip>
    <value>5416727</value>
    <shrsOrPrnAmt>
      <sshPrnamt>182320</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>174220</Sole>
      <Shared>0</Shared>
      <None>8100</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tredegar Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>894650100</cusip>
    <value>343440</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>43200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TriMas Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>896215209</cusip>
    <value>3292104</value>
    <shrsOrPrnAmt>
      <sshPrnamt>91600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>91600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Truist Financial Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>89832Q109</cusip>
    <value>114925</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>2500</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TRX Gold Corporation</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>87283P109</cusip>
    <value>2079285</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1397681</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1397681</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TTM Technologies Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>87305R109</cusip>
    <value>390654</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4010</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>110</Sole>
      <Shared>0</Shared>
      <None>3900</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tutor Perini Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>901109108</cusip>
    <value>7976043</value>
    <shrsOrPrnAmt>
      <sshPrnamt>103330</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>98530</Sole>
      <Shared>0</Shared>
      <None>4800</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>U.S. Bancorp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>902973304</cusip>
    <value>89977</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1730</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1730</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>UiPath Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>90364P105</cusip>
    <value>2525250</value>
    <shrsOrPrnAmt>
      <sshPrnamt>227500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>227500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ulta Beauty Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>90384S303</cusip>
    <value>92520</value>
    <shrsOrPrnAmt>
      <sshPrnamt>177</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>177</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>UMB Financial Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>902788108</cusip>
    <value>254905</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2260</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>60</Sole>
      <Shared>0</Shared>
      <None>2200</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>United Bankshares Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>909907107</cusip>
    <value>78698</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>United Fire Group Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>910340108</cusip>
    <value>7848122</value>
    <shrsOrPrnAmt>
      <sshPrnamt>211768</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>211768</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>United Natural Foods Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>911163103</cusip>
    <value>305507</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6780</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>180</Sole>
      <Shared>0</Shared>
      <None>6600</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Unity Bancorp Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>913290102</cusip>
    <value>326529</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>6300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Upwork Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>91688F104</cusip>
    <value>5507400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>502500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>502500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Urban Outfitters Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>917047102</cusip>
    <value>3281530</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>51800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>V.F. Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>918204108</cusip>
    <value>3209411</value>
    <shrsOrPrnAmt>
      <sshPrnamt>188900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>188900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Valley National Bancorp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>919794107</cusip>
    <value>344208</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28030</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>730</Sole>
      <Shared>0</Shared>
      <None>27300</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Valmont Industries Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>920253101</cusip>
    <value>4754883</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>11900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VanEck Emerging Markets High Yield Bond ETF</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>92189F353</cusip>
    <value>527975</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26760</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>26760</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANECK ETF TRUST VANECK RUSSIA</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>92189F403</cusip>
    <value>0</value>
    <shrsOrPrnAmt>
      <sshPrnamt>85</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>85</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VanEck High Yield Muni ETF</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>92189H409</cusip>
    <value>216103</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4310</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4310</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VanEck Mortgage REIT Income ETF</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>92189F452</cusip>
    <value>248189</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24190</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>24190</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vanguard Index Funds - Vanguar</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>922908769</cusip>
    <value>2887</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>9</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vanguard Municipal Bond Funds - Vanguard Tax-Exemp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>922907746</cusip>
    <value>286369</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5740</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5740</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Veralto Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>92338C103</cusip>
    <value>910726</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>10300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Verizon Communications Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>92343V104</cusip>
    <value>891050</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17750</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>17750</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vertiv Holdings Co</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>92537N108</cusip>
    <value>1152668</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Viant Technology Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>92557A101</cusip>
    <value>320320</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>28600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Viatris Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>92556V106</cusip>
    <value>1456378</value>
    <shrsOrPrnAmt>
      <sshPrnamt>107800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>107800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Viavi Solutions Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>925550105</cusip>
    <value>386048</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>300</Sole>
      <Shared>0</Shared>
      <None>11300</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vicor Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>925815102</cusip>
    <value>313950</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1950</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>50</Sole>
      <Shared>0</Shared>
      <None>1900</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Viemed Healthcare Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>92663R105</cusip>
    <value>1833794</value>
    <shrsOrPrnAmt>
      <sshPrnamt>199109</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>199109</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vir Biotechnology Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>92764N102</cusip>
    <value>1443420</value>
    <shrsOrPrnAmt>
      <sshPrnamt>161096</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>161096</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Virtu Financial Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>928254101</cusip>
    <value>1464534</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>33300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VISA INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>92826C839</cusip>
    <value>7367100</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24375</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>24045</Sole>
      <Shared>0</Shared>
      <None>330</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vontier Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>928881101</cusip>
    <value>2780848</value>
    <shrsOrPrnAmt>
      <sshPrnamt>78400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>78400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Walmart Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>931142103</cusip>
    <value>857159</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6897</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>6897</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Walt Disney Co (The)</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>254687106</cusip>
    <value>1973862</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20480</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>20480</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Warrior Met Coal Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>93627C101</cusip>
    <value>353970</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>100</Sole>
      <Shared>0</Shared>
      <None>3700</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Washington Trust Bancorp Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>940610108</cusip>
    <value>305824</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9140</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>240</Sole>
      <Shared>0</Shared>
      <None>8900</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Waste Connections Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>94106B101</cusip>
    <value>242029</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1490</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1090</Sole>
      <Shared>0</Shared>
      <None>400</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Watts Water Technologies Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>942749102</cusip>
    <value>8441634</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29080</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>27980</Sole>
      <Shared>0</Shared>
      <None>1100</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wayfair Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>94419L101</cusip>
    <value>2090838</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>27800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wells Fargo &amp; Co</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>949746101</cusip>
    <value>4230635</value>
    <shrsOrPrnAmt>
      <sshPrnamt>53142</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>53142</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Western Alliance Bancorporation</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>957638109</cusip>
    <value>3450395</value>
    <shrsOrPrnAmt>
      <sshPrnamt>48700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>48700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wheaton Precious Metals Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>962879102</cusip>
    <value>38066821</value>
    <shrsOrPrnAmt>
      <sshPrnamt>290075</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>64392</Sole>
      <Shared>0</Shared>
      <None>225683</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>White Mountains Insurance Group Ltd</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>G9618E107</cusip>
    <value>17576</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>8</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Winnebago Industries Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>974637100</cusip>
    <value>1887538</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60908</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>60908</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wolverine World Wide Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>978097103</cusip>
    <value>7275456</value>
    <shrsOrPrnAmt>
      <sshPrnamt>445800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>445800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>World Gold Trust - SPDR Gold M</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>98149E303</cusip>
    <value>3801</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>41</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Worthington Enterprises Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>981811102</cusip>
    <value>6336053</value>
    <shrsOrPrnAmt>
      <sshPrnamt>121520</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>115820</Sole>
      <Shared>0</Shared>
      <None>5700</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WSFS Financial Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>929328102</cusip>
    <value>302425</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4620</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>120</Sole>
      <Shared>0</Shared>
      <None>4500</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Xtant Medical Holdings Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>98420P308</cusip>
    <value>202108</value>
    <shrsOrPrnAmt>
      <sshPrnamt>362200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>362200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Yelp Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>985817105</cusip>
    <value>4639146</value>
    <shrsOrPrnAmt>
      <sshPrnamt>187516</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>187516</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>YETI Holdings Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>98585X104</cusip>
    <value>3485198</value>
    <shrsOrPrnAmt>
      <sshPrnamt>95250</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>95250</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Zebra Technologies Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>989207105</cusip>
    <value>847819</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4055</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4055</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Zedge Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>98923T104</cusip>
    <value>148413</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50653</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>50653</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Zeta Global Holdings Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>98956A105</cusip>
    <value>3141812</value>
    <shrsOrPrnAmt>
      <sshPrnamt>197350</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>197350</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Zoom Communications Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>98980L101</cusip>
    <value>1173694</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>14600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ZoomInfo Technologies Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>98980F104</cusip>
    <value>4436053</value>
    <shrsOrPrnAmt>
      <sshPrnamt>741815</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>741815</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Zscaler Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>98980G102</cusip>
    <value>589218</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Zumiez Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>989817101</cusip>
    <value>6570440</value>
    <shrsOrPrnAmt>
      <sshPrnamt>296500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>296500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Zurn Elkay Water Solutions Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>98983L108</cusip>
    <value>308499</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6880</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>180</Sole>
      <Shared>0</Shared>
      <None>6700</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Zymeworks Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>98985Y108</cusip>
    <value>8654375</value>
    <shrsOrPrnAmt>
      <sshPrnamt>345622</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>345622</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
</informationTable>
