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

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

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
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COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AUTOZONE INC PUT 053332102   42,300 600 SH Put SOLE N/A 600 0 0
CHIPOTLE MEXICAN GRILL INC PUT 169656105   90 900 SH Put SOLE N/A 900 0 0
ISHARES SILVER TR CALL 46428Q109   399,538 186,700 SH Call SOLE N/A 186,700 0 0
LULULEMON ATHLETICA INC PUT 550021109   344,230 2,900 SH Put SOLE N/A 2,900 0 0
NIKE INC PUT 654106103   121,175 3,700 SH Put SOLE N/A 3,700 0 0
PAYCHEX INC PUT 704326107   82,770 8,900 SH Put SOLE N/A 8,900 0 0
ULTA BEAUTY INC PUT 90384S303   12,420 600 SH Put SOLE N/A 600 0 0
ZOETIS INC PUT 98978V103   299,040 4,200 SH Put SOLE N/A 4,200 0 0
AIR LEASE CORP CL A 00912X302   15,061,601 392,025 SH   SOLE 1 382,541 0 9,484
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102   6,695,280 76,005 SH   SOLE 1 76,005 0 0
CAMECO CORP COM 13321L108   88,347,597 3,897,115 SH   SOLE 1 3,815,947 0 81,168
CREDIT SUISSE GROUP SPONSORED ADR 225401108   29,597,969 9,736,174 SH   SOLE 1 9,485,593 0 250,581
HARMONY GOLD MINING CO LTD SPONSORED ADR 413216300   58,634,224 17,245,360 SH   SOLE 1 16,866,153 0 379,207
HYSTER YALE MATLS HANDLING I CL A 449172105   8,431,191 333,117 SH   SOLE 1 325,086 0 8,031
IAMGOLD CORP COM 450913108   62,029,467 24,042,429 SH   SOLE 1 23,406,506 0 635,923
INTERNATIONAL TOWER HILL MIN COM 46050R102   5,972,879 14,047,222 SH   SOLE 1 13,671,048 0 376,174
IVANHOE ELECTRIC INC COM 46578C108   13,536,522 1,114,117 SH   SOLE 1 1,095,912 0 18,205
KT CORP SPONSORED ADR 48268K101   106,248,267 7,870,242 SH   SOLE 1 7,578,307 0 291,935
KOREA ELEC PWR CORP SPONSORED ADR 500631106   14,349,243 1,660,792 SH   SOLE 1 1,554,687 0 106,105
NEW GOLD INC CDA COM 644535106   2,004,063 2,044,962 SH   SOLE 1 1,990,693 0 54,269
NORTHERN DYNASTY MINERALS LT COM NEW 66510M204   7,066,778 32,005,333 SH   SOLE 1 31,666,423 0 338,909
NOVAGOLD RES INC COM NEW 66987E206   52,349,955 8,754,173 SH   SOLE 1 8,589,970 0 164,203
PERPETUA RESOURCES CORP COM 714266103   15,331,726 5,250,591 SH   SOLE 1 5,121,810 0 128,781
RANGE RES CORP COM 75281A109   82,032,474 3,278,676 SH   SOLE 1 3,191,596 0 87,080
ROYAL GOLD INC COM 780287108   70,408,857 624,635 SH   SOLE 1 610,909 0 13,726
SABRE CORP COM 78573M104   26,710,770 4,322,131 SH   SOLE 1 4,255,254 0 66,877
SABRE CORP 6.50% CONV PFD A 78573M203   10,984,185 130,500 PRN   SOLE 1 127,200 0 3,300
SANDSTORM GOLD LTD COM NEW 80013R206   1,312,596 249,543 SH   SOLE 1 241,855 0 7,688
SEABRIDGE GOLD INC COM 811916105   33,660,231 2,675,694 SH   SOLE 1 2,630,658 0 45,036
SKYWEST INC COM 830879102   41,791,895 2,531,308 SH   SOLE 1 2,465,905 0 65,403
SOUTHWESTERN ENERGY CO COM 845467109   92,062,409 15,737,164 SH   SOLE 1 15,314,146 0 423,018
SPROTT INC COM NEW 852066208   20,706,491 622,482 SH   SOLE 1 607,250 0 15,232
VEON LTD SPONSORED ADR 91822M106   7,848,938 16,018,241 SH   SOLE 1 16,018,241 0 0
VANECK ETF TRUST GOLD MINERS ETF 92189F106   9,216,827 321,592 SH   SOLE 1 321,592 0 0
VISTA GOLD CORP COM NEW 927926303   1,443,890 2,916,361 SH   SOLE 1 2,916,361 0 0
WHEATON PRECIOUS METALS CORP COM 962879102   102,644,597 2,626,525 SH   SOLE 1 2,570,291 0 56,234
AERCAP HOLDINGS NV SHS N00985106   3,048,211 52,267 SH   SOLE 1 52,267 0 0