The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AGNICO EAGLE MINES LTD COM 008474108 2,458 34,879 SH   SOLE   33,729 0 1,150
ARES CAPITAL CORP COM 04010L103 2,898 171,600 SH   SOLE   161,093 0 10,507
B2GOLD CORP COM 11777Q209 1,231 219,900 SH   SOLE   219,900 0 0
BARRICK GOLD CORPORATION COM 067901108 1,214 53,300 SH Call SOLE   53,300 0 0
BARRICK GOLD CORPORATION COM 067901108 3,087 135,562 SH   SOLE   132,762 0 2,800
CHEVRON CORP NEW COM 166764100 317 3,760 SH   SOLE   3,450 0 310
EMX RTY CORP COM 26873J107 6,751 2,045,908 SH   SOLE   1,986,008 0 59,900
EOG RES INC COM 26875P101 274 5,490 SH   SOLE   5,490 0 0
EQUINOX GOLD CORP COM 29446Y502 1,153 111,500 SH   SOLE   103,600 0 7,900
FORTUNA SILVER MINES INC COM 349915108 17 2,100 SH Call SOLE   2,100 0 0
FORTUNA SILVER MINES INC COM 349915108 7,211 876,129 SH   SOLE   847,729 0 28,400
FRANCO NEVADA CORP COM 351858105 14,270 113,910 SH   SOLE   109,768 0 4,142
GLADSTONE CAPITAL CORP COM 376535100 776 87,678 SH   SOLE   83,118 0 4,560
GLADSTONE INVT CORP COM 376546107 1,519 150,881 SH   SOLE   142,996 0 7,885
GLADSTONE LD CORP COM 376549101 670 45,764 SH   SOLE   43,964 0 1,800
GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 500 13,590 SH   SOLE   12,790 0 800
GOLD FIELDS LTD SPONSORED ADR 38059T106 232 25,100 SH   SOLE   25,100 0 0
GOLD FIELDS LTD SPONSORED ADR 38059T106 765 33,600 SH Call SOLE   33,600 0 0
GOLUB CAP BDC INC COM 38173M102 581 41,059 SH   SOLE   37,389 0 3,670
BARCLAYS BANK PLC IPTH SR B S&P 06746P621 1,248 75,000 SH   SOLE   73,500 0 1,500
KINROSS GOLD CORP COM 496902404 104 14,200 SH   SOLE   14,200 0 0
LOEWS CORP COM 540424108 785 17,435 SH   SOLE   16,225 0 1,210
MAVERIX METALS INC COM NEW 57776F405 191 34,800 SH   SOLE   34,800 0 0
METALLA RTY & STREAMING LTD COM NEW 59124U605 10,177 810,326 SH   SOLE   783,236 0 27,090
MITSUBISHI UFJ FINL GROUP IN SPONSORED ADS 606822104 599 135,500 SH   SOLE   119,800 0 15,700
OSISKO GOLD ROYALTIES LTD COM 68827L101 7,428 585,769 SH   SOLE   566,677 0 19,092
PAN AMERN SILVER CORP COM 697900108 317 9,200 SH Call SOLE   9,200 0 0
PAN AMERN SILVER CORP COM 697900108 3,849 111,554 SH   SOLE   107,354 0 4,200
PRETIUM RES INC COM 74139C102 1,508 131,435 SH   SOLE   128,435 0 3,000
ROYAL GOLD INC COM 780287108 4,891 45,994 SH   SOLE   44,564 0 1,430
SANDSTORM GOLD LTD COM NEW 80013R206 607 84,800 SH   SOLE   84,800 0 0
SPDR GOLD TR GOLD SHS 78463V107 217 1,219 SH   SOLE   1,179 0 40
SPROTT PHYSICAL GOLD TRUST UNIT 85207H104 575 61,700 SH   SOLE   61,700 0 0
SPROTT PHYSICAL SILVER TR TR UNIT 85207k107 1,137 75,471 SH   SOLE   74,722 0 749
VISTA GOLD CORP COM NEW 927926303 2,816 2,632,066 SH   SOLE   2,551,466 0 80,600
WHEATON PRECIOUS METALS CORP COM 962879102 2,563 61,305 SH   SOLE   59,180 0 2,125