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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Southern Cross Gold Consolidated Ltd</name>
        <lei>2549004SP30Z0UWKH476</lei>
        <title>SOUTHERN CROSS GOLD CONS-CDI DEPOSITARY RECEIPT</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU0000367443"/>
        </identifiers>
        <balance>1279.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.42379000"/>
        <valUSD>8668.66000000</valUSD>
        <pctVal>0.169022819347</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Catalyst Metals Ltd</name>
        <lei>9845002GB72C3J4A3E64</lei>
        <title>CATALYST METALS LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000CYL6"/>
        </identifiers>
        <balance>1616.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.42379000"/>
        <valUSD>6128.99000000</valUSD>
        <pctVal>0.119503956730</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DEUTSCHE BANK SECURITIES, INC.</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: CAD/USD SETTLE 2026-08-03</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTCAD__00004389"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40285000"/>
        <valUSD>-0.02000000</valUSD>
        <pctVal>-0.00000038996</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wheaton Precious Metals Corp.</name>
        <lei>549300XSFG5ZCGVYD886</lei>
        <title>WHEATON PRECIOUS METALS CORP COMMON STOCK</title>
        <cusip>962879102</cusip>
        <identifiers>
          <isin value="CA9628791027"/>
        </identifiers>
        <balance>2874.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>313352.22000000</valUSD>
        <pctVal>6.109788095663</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF NEW YORK</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: ZAR/USD SETTLE 2026-08-04</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTZAR__00004279"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="ZAR" exchangeRt="16.55125000"/>
        <valUSD>-0.23000000</valUSD>
        <pctVal>-0.00000448457</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>ZA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SEABRIDGE GOLD INC.</name>
        <lei>9845003FEO1A66376A92</lei>
        <title>SEABRIDGE GOLD INC COMMON STOCK</title>
        <cusip>811927102</cusip>
        <identifiers>
          <isin value="CA8119271028"/>
        </identifiers>
        <balance>627.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16182.87000000</valUSD>
        <pctVal>0.315536001243</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DEUTSCHE BANK SECURITIES, INC.</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: CAD/USD SETTLE 2026-08-03</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTCAD__00004375"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40285000"/>
        <valUSD>-0.01000000</valUSD>
        <pctVal>-0.00000019498</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>I-80 GOLD CORP.</name>
        <lei>549300LFFIWIGUEXPK11</lei>
        <title>I-80 GOLD CORP COMMON STOCK</title>
        <cusip>44955L106</cusip>
        <identifiers>
          <isin value="CA44955L1067"/>
        </identifiers>
        <balance>5088.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6563.52000000</valUSD>
        <pctVal>0.127976487167</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DEUTSCHE BANK SECURITIES, INC.</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: CAD/USD SETTLE 2026-08-03</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTCAD__00004387"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40285000"/>
        <valUSD>0.00000000</valUSD>
        <pctVal>0.000000</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NOVAGOLD RESOURCES INC.</name>
        <lei>529900587LVZTJ2BHS60</lei>
        <title>NOVAGOLD RESOURCES INC COMMON STOCK</title>
        <cusip>66987E206</cusip>
        <identifiers>
          <isin value="CA66987E2069"/>
        </identifiers>
        <balance>2196.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12802.68000000</valUSD>
        <pctVal>0.249628554910</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>REGIS RESOURCES LIMITED</name>
        <lei>213800XH9YUXBLYBD749</lei>
        <title>REGIS RESOURCES LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000RRL8"/>
        </identifiers>
        <balance>4896.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.42379000"/>
        <valUSD>20941.74000000</valUSD>
        <pctVal>0.408325154851</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bellevue Gold Ltd</name>
        <lei>N/A</lei>
        <title>BELLEVUE GOLD LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU0000019374"/>
        </identifiers>
        <balance>9587.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.42379000"/>
        <valUSD>8484.13000000</valUSD>
        <pctVal>0.165424826018</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DEUTSCHE BANK SECURITIES, INC.</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: CAD/USD SETTLE 2026-08-03</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTCAD__00004401"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40285000"/>
        <valUSD>-0.15000000</valUSD>
        <pctVal>-0.00000292472</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KINROSS GOLD CORPORATION</name>
        <lei>254900O9KHF2A1ZXPT47</lei>
        <title>KINROSS GOLD CORP COMMON STOCK</title>
        <cusip>496902404</cusip>
        <identifiers>
          <isin value="CA4969024047"/>
        </identifiers>
        <balance>7892.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>182305.20000000</valUSD>
        <pctVal>3.554613848714</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Dakota Gold Corp</name>
        <lei>549300XIS1CNFUXUAU81</lei>
        <title>DAKOTA GOLD CORP COMMON STOCK</title>
        <cusip>46655E100</cusip>
        <identifiers>
          <isin value="US46655E1001"/>
        </identifiers>
        <balance>757.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3436.78000000</valUSD>
        <pctVal>0.067010846552</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Franco-Nevada Corporation</name>
        <lei>98450064C1B5D3E94864</lei>
        <title>FRANCO-NEVADA CORP COMMON STOCK</title>
        <cusip>351858105</cusip>
        <identifiers>
          <isin value="CA3518581051"/>
        </identifiers>
        <balance>1214.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>258484.88000000</valUSD>
        <pctVal>5.039976556518</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>KINGSGATE CONSOLIDATED LIMITED</name>
        <lei>529900B1W7D8DLEC7178</lei>
        <title>KINGSGATE CONSOLIDATED LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000KCN1"/>
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        <balance>1598.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.42379000"/>
        <valUSD>4534.32000000</valUSD>
        <pctVal>0.088410844378</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>B2GOLD CORP.</name>
        <lei>549300F7OK456M5NLM05</lei>
        <title>B2GOLD CORP COMMON STOCK</title>
        <cusip>11777Q209</cusip>
        <identifiers>
          <isin value="CA11777Q2099"/>
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        <balance>8312.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>31170.00000000</valUSD>
        <pctVal>0.607757286486</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Gold Fields Limited</name>
        <lei>5299003KXIBJQYCBBD72</lei>
        <title>GOLD FIELDS LTD-SPONS ADR DEPOSITARY RECEIPT</title>
        <cusip>38059T106</cusip>
        <identifiers>
          <isin value="US38059T1060"/>
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        <balance>5945.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>192736.90000000</valUSD>
        <pctVal>3.758012683666</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Triple Flag Precious Metals Corp.</name>
        <lei>254900R7NJ1TEYIM4E61</lei>
        <title>TRIPLE FLAG PRECIOUS MET COMMON STOCK</title>
        <cusip>89679M104</cusip>
        <identifiers>
          <isin value="CA89679M1041"/>
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        <balance>1348.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>38781.96000000</valUSD>
        <pctVal>0.756176412391</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ELEMENTAL ROYALTY CORPORATION</name>
        <lei>549300BQ0SXPY5XYOH89</lei>
        <title>ELEMENTAL ROYALTY CORP COMMON STOCK</title>
        <cusip>28620K106</cusip>
        <identifiers>
          <isin value="CA28620K1066"/>
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        <balance>231.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3619.77000000</valUSD>
        <pctVal>0.070578812733</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HOCHSCHILD MINING PLC</name>
        <lei>549300JK10TVQ3CCJQ89</lei>
        <title>HOCHSCHILD MINING PLC COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00B1FW5029"/>
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        <balance>2103.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.74308000"/>
        <valUSD>12209.10000000</valUSD>
        <pctVal>0.238054843966</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INTERNATIONAL TOWER HILL MINES LTD.</name>
        <lei>529900QWPB33AJTGMU33</lei>
        <title>INTL TOWER HILL MINES LTD COMMON STOCK</title>
        <cusip>46050R102</cusip>
        <identifiers>
          <isin value="CA46050R1029"/>
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        <balance>1731.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3029.25000000</valUSD>
        <pctVal>0.059064766124</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>K92 Mining Inc</name>
        <lei>254900EA8H0X9FEVZU11</lei>
        <title>K92 MINING COMMON STOCK</title>
        <cusip>499113108</cusip>
        <identifiers>
          <isin value="CA4991131083"/>
        </identifiers>
        <balance>1582.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40285000"/>
        <valUSD>25407.18000000</valUSD>
        <pctVal>0.495392966765</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FORTUNA MINING CORP.</name>
        <lei>5493003Q88RVK7CW4735</lei>
        <title>FORTUNA MINING CORP COMMON STOCK</title>
        <cusip>349942102</cusip>
        <identifiers>
          <isin value="CA3499421020"/>
        </identifiers>
        <balance>1990.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16775.70000000</valUSD>
        <pctVal>0.327095088576</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Rio2 Ltd</name>
        <lei>2549009N9W290I0XSE73</lei>
        <title>RIO2 LTD/NEW COMMON STOCK</title>
        <cusip>767217102</cusip>
        <identifiers>
          <isin value="CA7672171021"/>
        </identifiers>
        <balance>2658.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40285000"/>
        <valUSD>4926.26000000</valUSD>
        <pctVal>0.096052948672</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DEUTSCHE BANK SECURITIES, INC.</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: CAD/USD SETTLE 2026-08-03</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTCAD__00004397"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40285000"/>
        <valUSD>-0.03000000</valUSD>
        <pctVal>-0.00000058494</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DRDGOLD LIMITED</name>
        <lei>529900Z0P3GRRN23MG34</lei>
        <title>DRDGOLD LTD-SPONSORED ADR DEPOSITARY RECEIPT</title>
        <cusip>26152H301</cusip>
        <identifiers>
          <isin value="US26152H3012"/>
        </identifiers>
        <balance>287.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5860.54000000</valUSD>
        <pctVal>0.114269678785</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Zijin Mining Group Company Limited</name>
        <lei>836800JRNL2393Z2I561</lei>
        <title>ZIJIN MINING GROUP CO LTD-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000502"/>
        </identifiers>
        <balance>39500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>167437.77000000</valUSD>
        <pctVal>3.264726491838</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VAULT MINERALS LIMITED</name>
        <lei>5299008TF8KHQ8CIQG34</lei>
        <title>VAULT MINERALS LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU0000355588"/>
        </identifiers>
        <balance>6736.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.42379000"/>
        <valUSD>22567.04000000</valUSD>
        <pctVal>0.440015495490</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Lundin Gold Inc.</name>
        <lei>549300ZOV16K515FC525</lei>
        <title>LUNDIN GOLD INC COMMON STOCK</title>
        <cusip>550371108</cusip>
        <identifiers>
          <isin value="CA5503711080"/>
        </identifiers>
        <balance>659.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40285000"/>
        <valUSD>36871.30000000</valUSD>
        <pctVal>0.718922080116</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OR Royalties Inc.</name>
        <lei>549300TJZTXZMPQ6K004</lei>
        <title>OR ROYALTIES INC COMMON STOCK</title>
        <cusip>68390D106</cusip>
        <identifiers>
          <isin value="CA68390D1069"/>
        </identifiers>
        <balance>1242.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>36961.92000000</valUSD>
        <pctVal>0.720689002327</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ALLIED GOLD CORPORATION</name>
        <lei>894500S5G4JFSRGK8L37</lei>
        <title>ALLIED GOLD CORP COMMON STOCK</title>
        <cusip>01921D204</cusip>
        <identifiers>
          <isin value="CA01921D2041"/>
        </identifiers>
        <balance>652.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11885.96000000</valUSD>
        <pctVal>0.231754212283</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EVOLUTION MINING LIMITED</name>
        <lei>254900BCFW5QO5LW8F27</lei>
        <title>EVOLUTION MINING LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000EVN4"/>
        </identifiers>
        <balance>13380.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.42379000"/>
        <valUSD>105909.30000000</valUSD>
        <pctVal>2.065035251258</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Galiano Gold Inc</name>
        <lei>529900V13XJFM0VPGC86</lei>
        <title>GALIANO GOLD INC COMMON STOCK</title>
        <cusip>36352H100</cusip>
        <identifiers>
          <isin value="CA36352H1001"/>
        </identifiers>
        <balance>1699.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2956.26000000</valUSD>
        <pctVal>0.057641596270</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DEUTSCHE BANK SECURITIES, INC.</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: CAD/USD SETTLE 2026-08-03</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTCAD__00004403"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40285000"/>
        <valUSD>-0.02000000</valUSD>
        <pctVal>-0.00000038996</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RAMELIUS RESOURCES LIMITED</name>
        <lei>254900E44AIGW7KKNR98</lei>
        <title>RAMELIUS RESOURCES LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000RMS4"/>
        </identifiers>
        <balance>12295.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.42379000"/>
        <valUSD>26337.98000000</valUSD>
        <pctVal>0.513541843321</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ALKANE RESOURCES LTD</name>
        <lei>529900R65IIVLPW4ZS42</lei>
        <title>ALKANE RESOURCES LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000ALK9"/>
        </identifiers>
        <balance>6224.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.42379000"/>
        <valUSD>5814.00000000</valUSD>
        <pctVal>0.113362234957</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Predictive Discovery Ltd</name>
        <lei>529900NL3JLEV0OIIW58</lei>
        <title>PREDICTIVE DISCOVERY LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000PDI8"/>
        </identifiers>
        <balance>25827.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.42379000"/>
        <valUSD>12062.85000000</valUSD>
        <pctVal>0.235203239759</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vizsla Silver Corp.</name>
        <lei>549300ADJF7HWIEDL366</lei>
        <title>VIZSLA SILVER CORP COMMON STOCK</title>
        <cusip>92859G608</cusip>
        <identifiers>
          <isin value="CA92859G6085"/>
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        <balance>2220.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6970.80000000</valUSD>
        <pctVal>0.135917693058</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Shandong Gold Mining Co., Ltd.</name>
        <lei>300300KC2K8BC07OSV77</lei>
        <title>SHANDONG GOLD MINING CO LT-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000036N7"/>
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        <balance>6300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>16196.69000000</valUSD>
        <pctVal>0.315805465655</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>OceanaGold Corporation</name>
        <lei>549300CBMSE8I9N3E232</lei>
        <title>OCEANAGOLD CORP COMMON STOCK</title>
        <cusip>675222400</cusip>
        <identifiers>
          <isin value="CA6752224007"/>
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        <balance>1479.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40285000"/>
        <valUSD>35634.74000000</valUSD>
        <pctVal>0.694811449697</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Eldorado Gold Corporation</name>
        <lei>5493004PWQ01YDD1IH62</lei>
        <title>ELDORADO GOLD CORP COMMON STOCK</title>
        <cusip>284902509</cusip>
        <identifiers>
          <isin value="CA2849025093"/>
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        <balance>1714.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>51745.66000000</valUSD>
        <pctVal>1.008944559161</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NEWMONT CORPORATION</name>
        <lei>549300VSP3RIX7FGDZ51</lei>
        <title>NEWMONT CORP COMMON STOCK</title>
        <cusip>651639106</cusip>
        <identifiers>
          <isin value="US6516391066"/>
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        <balance>6759.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>633385.89000000</valUSD>
        <pctVal>12.34985209513</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AGNICO EAGLE MINES LIMITED</name>
        <lei>254900BFJ2DOHPMEXN45</lei>
        <title>AGNICO EAGLE MINES LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CA0084741085"/>
        </identifiers>
        <balance>3172.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>460796.44000000</valUSD>
        <pctVal>8.984677382008</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DEUTSCHE BANK SECURITIES, INC.</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: CAD/USD SETTLE 2026-08-03</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTCAD__00004373"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40285000"/>
        <valUSD>-0.10000000</valUSD>
        <pctVal>-0.00000194981</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Aris Mining Corporation</name>
        <lei>5493001GJ5TILX6L1F82</lei>
        <title>ARIS MINING CORP COMMON STOCK</title>
        <cusip>04040Y109</cusip>
        <identifiers>
          <isin value="CA04040Y1097"/>
        </identifiers>
        <balance>1341.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17915.76000000</valUSD>
        <pctVal>0.349324147672</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>IAMGOLD CORPORATION</name>
        <lei>254900E7II30XAB9LA72</lei>
        <title>IAMGOLD CORP COMMON STOCK</title>
        <cusip>450913108</cusip>
        <identifiers>
          <isin value="CA4509131088"/>
        </identifiers>
        <balance>3828.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>54319.32000000</valUSD>
        <pctVal>1.059126163843</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Lingbao Gold Group Company Ltd.</name>
        <lei>5299006AEAGY8D467B59</lei>
        <title>LINGBAO GOLD GROUP CO LTD-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000001H3"/>
        </identifiers>
        <balance>4700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>11567.79000000</valUSD>
        <pctVal>0.225550486398</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DPM Metals Inc.</name>
        <lei>549300LATVTU0EIUMD45</lei>
        <title>DPM METALS INC COMMON STOCK</title>
        <cusip>26139R109</cusip>
        <identifiers>
          <isin value="CA26139R1091"/>
        </identifiers>
        <balance>1419.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40285000"/>
        <valUSD>49847.33000000</valUSD>
        <pctVal>0.971930639057</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MCEWEN INC.</name>
        <lei>5493000FX50GEWAF3U70</lei>
        <title>MCEWEN INC COMMON STOCK</title>
        <cusip>58039P305</cusip>
        <identifiers>
          <isin value="US58039P3055"/>
        </identifiers>
        <balance>340.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5878.60000000</valUSD>
        <pctVal>0.114621815346</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DEUTSCHE BANK SECURITIES, INC.</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: CAD/USD SETTLE 2026-08-03</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTCAD__00004369"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40285000"/>
        <valUSD>-0.03000000</valUSD>
        <pctVal>-0.00000058494</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DEUTSCHE BANK SECURITIES, INC.</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: CAD/USD SETTLE 2026-08-03</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTCAD__00004399"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40285000"/>
        <valUSD>-0.08000000</valUSD>
        <pctVal>-0.00000155985</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Centerra Gold Inc.</name>
        <lei>549300K0HXTMP5JJ0E62</lei>
        <title>CENTERRA GOLD INC COMMON STOCK</title>
        <cusip>152006102</cusip>
        <identifiers>
          <isin value="CA1520061021"/>
        </identifiers>
        <balance>1316.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>22622.04000000</valUSD>
        <pctVal>0.441087893654</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SILVERCORP METALS INC.</name>
        <lei>52990092RT3UCQ7G3177</lei>
        <title>SILVERCORP METALS INC COMMON STOCK</title>
        <cusip>82835P103</cusip>
        <identifiers>
          <isin value="CA82835P1036"/>
        </identifiers>
        <balance>1401.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13113.36000000</valUSD>
        <pctVal>0.255686239663</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SSR MINING INC.</name>
        <lei>549300JD2KR7AB9DYJ38</lei>
        <title>SSR MINING INC COMMON STOCK</title>
        <cusip>784730103</cusip>
        <identifiers>
          <isin value="CA7847301032"/>
        </identifiers>
        <balance>1360.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>34843.20000000</valUSD>
        <pctVal>0.679377885290</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DEUTSCHE BANK SECURITIES, INC.</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: CAD/USD SETTLE 2026-08-03</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTCAD__00004367"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40285000"/>
        <valUSD>-0.02000000</valUSD>
        <pctVal>-0.00000038996</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DEUTSCHE BANK SECURITIES, INC.</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: CAD/USD SETTLE 2026-08-03</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTCAD__00004385"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40285000"/>
        <valUSD>-0.14000000</valUSD>
        <pctVal>-0.00000272974</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DEUTSCHE BANK SECURITIES, INC.</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: CAD/USD SETTLE 2026-08-03</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTCAD__00004393"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40285000"/>
        <valUSD>-0.03000000</valUSD>
        <pctVal>-0.00000058494</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EMERALD RESOURCES NL</name>
        <lei>529900V79JFYUE9ZQB09</lei>
        <title>EMERALD RESOURCES NL COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000EMR4"/>
        </identifiers>
        <balance>3445.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.42379000"/>
        <valUSD>13041.64000000</valUSD>
        <pctVal>0.254287832458</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEW FOUND GOLD CORP.</name>
        <lei>98450056568BF2A90783</lei>
        <title>NEW FOUND GOLD CORP COMMON STOCK</title>
        <cusip>64440N103</cusip>
        <identifiers>
          <isin value="CA64440N1033"/>
        </identifiers>
        <balance>1626.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2211.36000000</valUSD>
        <pctVal>0.043117425506</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WESTGOLD RESOURCES LIMITED</name>
        <lei>2549003AMX9BL7CKBQ74</lei>
        <title>WESTGOLD RESOURCES LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000WGX6"/>
        </identifiers>
        <balance>6236.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.42379000"/>
        <valUSD>20716.73000000</valUSD>
        <pctVal>0.403937876473</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DEUTSCHE BANK SECURITIES, INC.</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: CAD/USD SETTLE 2026-08-03</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTCAD__00004383"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40285000"/>
        <valUSD>-0.08000000</valUSD>
        <pctVal>-0.00000155985</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FIRST MAJESTIC SILVER CORP.</name>
        <lei>529900PWCU5DUH1DYR51</lei>
        <title>FIRST MAJESTIC SILVER CORP COMMON STOCK</title>
        <cusip>32076V103</cusip>
        <identifiers>
          <isin value="CA32076V1031"/>
        </identifiers>
        <balance>3241.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>48712.23000000</valUSD>
        <pctVal>0.949798290777</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Compania de Minas Buenaventura S.A.A.</name>
        <lei>529900WQB1ZU9KB6EL71</lei>
        <title>CIA DE MINAS BUENAVENTUR-ADR DEPOSITARY RECEIPT</title>
        <cusip>204448104</cusip>
        <identifiers>
          <isin value="US2044481040"/>
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        <balance>1130.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>34216.40000000</valUSD>
        <pctVal>0.667156445856</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Skeena Resources Limited</name>
        <lei>549300DCWSQFVVZ21289</lei>
        <title>SKEENA RESOURCES LTD COMMON STOCK</title>
        <cusip>83056P715</cusip>
        <identifiers>
          <isin value="CA83056P7157"/>
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        <balance>658.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17489.64000000</valUSD>
        <pctVal>0.341015596664</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DEUTSCHE BANK SECURITIES, INC.</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: CAD/USD SETTLE 2026-08-03</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTCAD__00004405"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40285000"/>
        <valUSD>-0.07000000</valUSD>
        <pctVal>-0.00000136487</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DISCOVERY MINING LTD.</name>
        <lei>N/A</lei>
        <title>DISCOVERY MINING LTD COMMON STOCK</title>
        <cusip>254677107</cusip>
        <identifiers>
          <isin value="CA25466C1077"/>
        </identifiers>
        <balance>3474.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40285000"/>
        <valUSD>21668.39000000</valUSD>
        <pctVal>0.422493484406</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COEUR MINING, INC.</name>
        <lei>5493003AVK173D48DR70</lei>
        <title>COEUR MINING INC COMMON STOCK</title>
        <cusip>192108504</cusip>
        <identifiers>
          <isin value="US1921085049"/>
        </identifiers>
        <balance>6832.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>101865.12000000</valUSD>
        <pctVal>1.986181229350</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GREATLAND RESOURCES LIMITED</name>
        <lei>213800KQI75ZGE53GX44</lei>
        <title>GREATLAND RESOURCES LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU0000397705"/>
        </identifiers>
        <balance>3406.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.42379000"/>
        <valUSD>23802.46000000</valUSD>
        <pctVal>0.464103898020</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Osisko Gold Group Inc.</name>
        <lei>984500A8CC57F67DJ124</lei>
        <title>OSISKO GOLD GROUP INC COMMON STOCK</title>
        <cusip>68827X105</cusip>
        <identifiers>
          <isin value="CA68827X1050"/>
        </identifiers>
        <balance>1464.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3498.96000000</valUSD>
        <pctVal>0.068223241422</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WESDOME GOLD MINES LTD.</name>
        <lei>N/A</lei>
        <title>WESDOME GOLD MINES LTD COMMON STOCK</title>
        <cusip>95083R100</cusip>
        <identifiers>
          <isin value="CA95083R1001"/>
        </identifiers>
        <balance>983.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40285000"/>
        <valUSD>18225.63000000</valUSD>
        <pctVal>0.355366038925</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Perpetua Resources Corp</name>
        <lei>529900BQBMS383SEPY05</lei>
        <title>PERPETUA RESOURCES CORP COMMON STOCK</title>
        <cusip>714266103</cusip>
        <identifiers>
          <isin value="CA7142661031"/>
        </identifiers>
        <balance>772.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14212.52000000</valUSD>
        <pctVal>0.277117824489</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Aura Minerals Inc.</name>
        <lei>549300YIRI8PSDM2FV20</lei>
        <title>AURA MINERALS INC COMMON STOCK</title>
        <cusip>G06973112</cusip>
        <identifiers>
          <isin value="VGG069731120"/>
        </identifiers>
        <balance>233.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12714.81000000</valUSD>
        <pctVal>0.247915252608</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Highlander Silver Corp</name>
        <lei>875500NW47V6ALTUO315</lei>
        <title>HIGHLANDER SILVER CORP COMMON STOCK</title>
        <cusip>43087N204</cusip>
        <identifiers>
          <isin value="CA43087N2041"/>
        </identifiers>
        <balance>833.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40285000"/>
        <valUSD>3544.93000000</valUSD>
        <pctVal>0.069119571305</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DEUTSCHE BANK SECURITIES, INC.</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: CAD/USD SETTLE 2026-08-03</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTCAD__00004371"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40285000"/>
        <valUSD>-0.17000000</valUSD>
        <pctVal>-0.00000331468</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BARRICK MINING CORPORATION</name>
        <lei>0O4KBQCJZX82UKGCBV73</lei>
        <title>BARRICK MINING CORP COMMON STOCK</title>
        <cusip>06849F108</cusip>
        <identifiers>
          <isin value="CA06849F1080"/>
        </identifiers>
        <balance>10559.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>387832.07000000</valUSD>
        <pctVal>7.562007265825</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Gold Royalty Corp.</name>
        <lei>984500064E98R00C9724</lei>
        <title>GOLD ROYALTY CORP COMMON STOCK</title>
        <cusip>38071H106</cusip>
        <identifiers>
          <isin value="CA38071H1064"/>
        </identifiers>
        <balance>1270.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3302.00000000</valUSD>
        <pctVal>0.064382886107</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WEST AFRICAN RESOURCES LTD</name>
        <lei>529900XLO8GMJNTUL013</lei>
        <title>WEST AFRICAN RESOURCES LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000WAF6"/>
        </identifiers>
        <balance>6314.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.42379000"/>
        <valUSD>12594.39000000</valUSD>
        <pctVal>0.245567285574</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Zhaojin Mining Industry Company Limited</name>
        <lei>3003007KU2DRDX06PN04</lei>
        <title>ZHAOJIN MINING INDUSTRY CO-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000004R6"/>
        </identifiers>
        <balance>11100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>30009.18000000</valUSD>
        <pctVal>0.585123445829</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DEUTSCHE BANK SECURITIES, INC.</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: CAD/USD SETTLE 2026-08-03</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTCAD__00004395"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40285000"/>
        <valUSD>-0.06000000</valUSD>
        <pctVal>-0.00000116988</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HARMONY GOLD MINING COMPANY LIMITED</name>
        <lei>378900986D05F0C29811</lei>
        <title>HARMONY GOLD MNG-SPON ADR DEPOSITARY RECEIPT</title>
        <cusip>413216300</cusip>
        <identifiers>
          <isin value="US4132163001"/>
        </identifiers>
        <balance>3686.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>58054.50000000</valUSD>
        <pctVal>1.131955257887</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sunshine Silver Mining &amp; Refining Co</name>
        <lei>529900DM8B1YHVGUTA53</lei>
        <title>SUNSHINE SILVER MINING &amp; REF COMMON STOCK</title>
        <cusip>867866105</cusip>
        <identifiers>
          <isin value="US8678661054"/>
        </identifiers>
        <balance>333.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4785.21000000</valUSD>
        <pctVal>0.093302734837</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PERSEUS MINING LIMITED</name>
        <lei>54930054ZDGKBCW3SM26</lei>
        <title>PERSEUS MINING LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000PRU3"/>
        </identifiers>
        <balance>8865.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.42379000"/>
        <valUSD>30197.75000000</valUSD>
        <pctVal>0.588800211678</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HECLA MINING COMPANY</name>
        <lei>5493009Y6HOBZD1QD537</lei>
        <title>HECLA MINING CO COMMON STOCK</title>
        <cusip>422704106</cusip>
        <identifiers>
          <isin value="US4227041062"/>
        </identifiers>
        <balance>4421.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>62424.52000000</valUSD>
        <pctVal>1.217162556478</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RESOLUTE MINING LIMITED</name>
        <lei>254900MP8JONT590XY28</lei>
        <title>RESOLUTE MINING LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000RSG6"/>
        </identifiers>
        <balance>12271.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.42379000"/>
        <valUSD>8015.25000000</valUSD>
        <pctVal>0.156282534183</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DEUTSCHE BANK SECURITIES, INC.</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: CAD/USD SETTLE 2026-08-03</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTCAD__00004381"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40285000"/>
        <valUSD>-0.03000000</valUSD>
        <pctVal>-0.00000058494</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PAN AFRICAN RESOURCES PLC</name>
        <lei>213800EAXURCXMX6RL85</lei>
        <title>PAN AFRICAN RESOURCES PLC COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB0004300496"/>
        </identifiers>
        <balance>13311.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="16.55125000"/>
        <valUSD>16559.08000000</valUSD>
        <pctVal>0.322871399663</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>ZA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ANGLOGOLD ASHANTI PLC</name>
        <lei>2138005YDSA7A82RNU96</lei>
        <title>ANGLOGOLD ASHANTI PLC COMMON STOCK</title>
        <cusip>G0378L100</cusip>
        <identifiers>
          <isin value="GB00BRXH2664"/>
        </identifiers>
        <balance>3194.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>253348.08000000</valUSD>
        <pctVal>4.939818467675</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>G MINING VENTURES CORP CONTINGENT VALUE RIGHT</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="2676249D CN"/>
        </identifiers>
        <balance>1133.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40285000"/>
        <valUSD>347.29000000</valUSD>
        <pctVal>0.006771511967</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Santacruz Silver Mining Ltd</name>
        <lei>549300KR50UPLTF0XY61</lei>
        <title>SANTACRUZ SILVER MINING LTD COMMON STOCK</title>
        <cusip>80280U205</cusip>
        <identifiers>
          <isin value="CA80280U2056"/>
        </identifiers>
        <balance>568.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3669.28000000</valUSD>
        <pctVal>0.071544166062</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Chifeng Jilong Gold Mining Group Limited</name>
        <lei>300300PUFBCIZ7STN538</lei>
        <title>CHIFENG JILONG GOLD MINING-H COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100006T51"/>
        </identifiers>
        <balance>1000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>4256.78000000</valUSD>
        <pctVal>0.082999328263</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF NEW YORK (THE)</name>
        <lei>HPFHU0OQ28E4N0NFVK49</lei>
        <title>Spot FX Contract: USD/HKD SETTLE 2026-08-03</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTUSD__00004302"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-0.04000000</valUSD>
        <pctVal>-0.00000077992</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF NEW YORK</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: GBP/USD SETTLE 2026-08-03</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTGBP__00004269"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="GBP" exchangeRt="0.74308000"/>
        <valUSD>-0.15000000</valUSD>
        <pctVal>-0.00000292472</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wanguo Gold Group Limited</name>
        <lei>984500A4815DA9DE4623</lei>
        <title>WANGUO GOLD GROUP LTD COMMON STOCK</title>
        <cusip>G9430L115</cusip>
        <identifiers>
          <isin value="KYG9430L1150"/>
        </identifiers>
        <balance>9600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>12891.25000000</valUSD>
        <pctVal>0.251355505916</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>New Pacific Metals Corp</name>
        <lei>549300TC0CSHP59S8103</lei>
        <title>NEW PACIFIC METALS CORP COMMON STOCK</title>
        <cusip>64782A107</cusip>
        <identifiers>
          <isin value="CA64782A1075"/>
        </identifiers>
        <balance>652.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3025.28000000</valUSD>
        <pctVal>0.058987358474</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Americas Gold and Silver Corporation</name>
        <lei>5493005AKGOT669Z4P51</lei>
        <title>AMERICAS GOLD AND SILVER COR COMMON STOCK</title>
        <cusip>03062D803</cusip>
        <identifiers>
          <isin value="CA03062D8035"/>
        </identifiers>
        <balance>1804.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6891.28000000</valUSD>
        <pctVal>0.134367200295</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GENESIS MINERALS LIMITED</name>
        <lei>894500AK5BVRCNP0FP48</lei>
        <title>GENESIS MINERALS LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000GMD9"/>
        </identifiers>
        <balance>7074.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.42379000"/>
        <valUSD>28369.73000000</valUSD>
        <pctVal>0.553157206389</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DEUTSCHE BANK SECURITIES, INC.</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: CAD/USD SETTLE 2026-08-03</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTCAD__00004391"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40285000"/>
        <valUSD>-0.14000000</valUSD>
        <pctVal>-0.00000272974</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Andean Precious Metals Corp</name>
        <lei>25490076LWWYRKS2CX91</lei>
        <title>ANDEAN PRECIOUS METALS CORP SPECIAL PURPOSE ACQUISITION COMPANIES</title>
        <cusip>03349X101</cusip>
        <identifiers>
          <isin value="CA03349X1015"/>
        </identifiers>
        <balance>369.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40285000"/>
        <valUSD>1465.11000000</valUSD>
        <pctVal>0.028566932242</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ENDEAVOUR MINING PLC</name>
        <lei>529900NI5MXQ91GHXR07</lei>
        <title>ENDEAVOUR MINING PLC COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00BL6K5J42"/>
        </identifiers>
        <balance>1442.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.74308000"/>
        <valUSD>68346.93000000</valUSD>
        <pctVal>1.332638585707</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FRESNILLO PLC</name>
        <lei>549300JXWH1UV5J0XV81</lei>
        <title>FRESNILLO PLC COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00B2QPKJ12"/>
        </identifiers>
        <balance>1222.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.74308000"/>
        <valUSD>40701.54000000</valUSD>
        <pctVal>0.793604668149</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DEUTSCHE BANK SECURITIES, INC.</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: CAD/USD SETTLE 2026-08-03</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTCAD__00004379"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40285000"/>
        <valUSD>-0.09000000</valUSD>
        <pctVal>-0.00000175483</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NORTHERN STAR RESOURCES LTD</name>
        <lei>254900XFXCRYYZAX6M78</lei>
        <title>NORTHERN STAR RESOURCES LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000NST8"/>
        </identifiers>
        <balance>9132.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.42379000"/>
        <valUSD>127635.96000000</valUSD>
        <pctVal>2.488664892773</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ORA BANDA MINING LTD</name>
        <lei>984500DAD3BDFDHBD844</lei>
        <title>ORA BANDA MINING LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU0000050130"/>
        </identifiers>
        <balance>8860.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.42379000"/>
        <valUSD>7062.91000000</valUSD>
        <pctVal>0.137713667510</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HYCROFT MINING HOLDING CORPORATION</name>
        <lei>254900T7FYMGS29WIF55</lei>
        <title>HYCROFT MINING HOLDING CO-A COMMON STOCK</title>
        <cusip>44862P208</cusip>
        <identifiers>
          <isin value="US44862P2083"/>
        </identifiers>
        <balance>327.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6386.31000000</valUSD>
        <pctVal>0.124521220284</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tongguan Gold Group Limited</name>
        <lei>9845000815X6E7NE0854</lei>
        <title>TONGGUAN GOLD GROUP LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BMG8919D1074"/>
        </identifiers>
        <balance>16800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>4391.96000000</valUSD>
        <pctVal>0.085635087967</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Zijin Gold International Co Ltd</name>
        <lei>254900FINUJR4MZ8A417</lei>
        <title>ZIJIN GOLD INTERNATIONAL CO COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="HK0001200002"/>
        </identifiers>
        <balance>2685.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84160000"/>
        <valUSD>40472.23000000</valUSD>
        <pctVal>0.789133547734</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Pan American Silver Corp.</name>
        <lei>549300MKTF5851TYIB83</lei>
        <title>PAN AMERICAN SILVER CORP COMMON STOCK</title>
        <cusip>697900108</cusip>
        <identifiers>
          <isin value="CA6979001089"/>
        </identifiers>
        <balance>2795.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>120492.45000000</valUSD>
        <pctVal>2.349379674499</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Aya Gold &amp; Silver Inc.</name>
        <lei>549300BWX8KJOTUL4M51</lei>
        <title>AYA GOLD &amp; SILVER INC COMMON STOCK</title>
        <cusip>05466C109</cusip>
        <identifiers>
          <isin value="CA05466C1095"/>
        </identifiers>
        <balance>916.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40285000"/>
        <valUSD>17982.42000000</valUSD>
        <pctVal>0.350623894246</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Orezone Gold Corporation</name>
        <lei>529900ZRY6WGGRC9Z698</lei>
        <title>OREZONE GOLD CORP COMMON STOCK</title>
        <cusip>68616T109</cusip>
        <identifiers>
          <isin value="CA68616T1093"/>
        </identifiers>
        <balance>2884.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40285000"/>
        <valUSD>4399.44000000</valUSD>
        <pctVal>0.085780934118</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Montage Gold Corp</name>
        <lei>9845004C6BCE77ACA795</lei>
        <title>MONTAGE GOLD CORP COMMON STOCK</title>
        <cusip>61178L101</cusip>
        <identifiers>
          <isin value="CA61178L1013"/>
        </identifiers>
        <balance>1860.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40285000"/>
        <valUSD>21028.34000000</valUSD>
        <pctVal>0.410013694505</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF NEW YORK</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: GBP/USD SETTLE 2026-08-03</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTGBP__00004282"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="GBP" exchangeRt="0.74308000"/>
        <valUSD>-0.06000000</valUSD>
        <pctVal>-0.00000116988</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Equinox Gold Corp.</name>
        <lei>5493005IN4V1SNP9PN75</lei>
        <title>EQUINOX GOLD CORP COMMON STOCK</title>
        <cusip>29446Y502</cusip>
        <identifiers>
          <isin value="CA29446Y5020"/>
        </identifiers>
        <balance>5003.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>44776.85000000</valUSD>
        <pctVal>0.873065667418</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>G Mining Ventures Corp</name>
        <lei>894500N5AZEQU0BLOT06</lei>
        <title>G MINING VENTURE CORP COMMON STOCK</title>
        <cusip>36270K102</cusip>
        <identifiers>
          <isin value="CA36270K1021"/>
        </identifiers>
        <balance>1387.19600000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40285000"/>
        <valUSD>42253.19000000</valUSD>
        <pctVal>0.823858970157</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF NEW YORK</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: GBP/USD SETTLE 2026-08-03</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTGBP__00004273"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="GBP" exchangeRt="0.74308000"/>
        <valUSD>-0.34000000</valUSD>
        <pctVal>-0.00000662937</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>G3 GOLDFIELDS INC COMMON STOCK</title>
        <cusip>362421109</cusip>
        <identifiers>
          <isin value="CA3624211098"/>
        </identifiers>
        <balance>566.50000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40285000"/>
        <valUSD>88.84000000</valUSD>
        <pctVal>0.001732215506</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Collective Mining Ltd</name>
        <lei>98450055FE5CF6E9J694</lei>
        <title>COLLECTIVE MINING LTD COMMON STOCK</title>
        <cusip>19425C100</cusip>
        <identifiers>
          <isin value="CA19425C1005"/>
        </identifiers>
        <balance>326.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40285000"/>
        <valUSD>4020.24000000</valUSD>
        <pctVal>0.078387236234</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ROYAL GOLD, INC.</name>
        <lei>5493001NGRU6SFL04184</lei>
        <title>ROYAL GOLD INC COMMON STOCK</title>
        <cusip>780287108</cusip>
        <identifiers>
          <isin value="US7802871084"/>
        </identifiers>
        <balance>562.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>111472.70000000</valUSD>
        <pctVal>2.173511250220</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DEUTSCHE BANK SECURITIES, INC.</name>
        <lei>N/A</lei>
        <title>Spot FX Contract: CAD/USD SETTLE 2026-08-03</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Spot FX" value="CCTCAD__00004377"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40285000"/>
        <valUSD>-0.03000000</valUSD>
        <pctVal>-0.00000058494</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ENDEAVOUR SILVER CORP.</name>
        <lei>549300IF2E29780PPV02</lei>
        <title>ENDEAVOUR SILVER CORP COMMON STOCK</title>
        <cusip>29258Y103</cusip>
        <identifiers>
          <isin value="CA29258Y1034"/>
        </identifiers>
        <balance>1963.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14761.76000000</valUSD>
        <pctVal>0.287826987531</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TOREX GOLD RESOURCES INC.</name>
        <lei>549300QL07027186GQ85</lei>
        <title>TOREX GOLD RESOURCES INC COMMON STOCK</title>
        <cusip>891054603</cusip>
        <identifiers>
          <isin value="CA8910546032"/>
        </identifiers>
        <balance>619.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40285000"/>
        <valUSD>23805.15000000</valUSD>
        <pctVal>0.464156348040</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Metalla Royalty &amp; Streaming Ltd</name>
        <lei>549300RPR0O774QEKV20</lei>
        <title>METALLA ROYALTY &amp; STREAMING COMMON STOCK</title>
        <cusip>59124U605</cusip>
        <identifiers>
          <isin value="CA59124U6051"/>
        </identifiers>
        <balance>456.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3356.16000000</valUSD>
        <pctVal>0.065438905826</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GoGold Resources Inc</name>
        <lei>549300PNCGJ26Y676N19</lei>
        <title>GOGOLD RESOURCES INC COMMON STOCK</title>
        <cusip>38045Y102</cusip>
        <identifiers>
          <isin value="CA38045Y1025"/>
        </identifiers>
        <balance>2733.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40285000"/>
        <valUSD>5649.71000000</valUSD>
        <pctVal>0.110158884152</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-07-31</ncom:dateSigned>
      <ncom:nameOfApplicant>GLOBAL X FUNDS</ncom:nameOfApplicant>
      <ncom:signature>Joe Costello</ncom:signature>
      <ncom:signerName>Joe Costello</ncom:signerName>
      <ncom:title>CCO</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
