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<ns1:informationTable xmlns:ns1="http://www.sec.gov/edgar/document/thirteenf/informationtable"><ns1:infoTable><ns1:nameOfIssuer>ALAMOS GOLD INC NEW</ns1:nameOfIssuer><ns1:titleOfClass>COM CL A</ns1:titleOfClass><ns1:cusip>011532108</ns1:cusip><ns1:value>7839340</ns1:value><ns1:shrsOrPrnAmt><ns1:sshPrnamt>258383</ns1:sshPrnamt><ns1:sshPrnamtType>SH</ns1:sshPrnamtType></ns1:shrsOrPrnAmt><ns1:investmentDiscretion>SOLE</ns1:investmentDiscretion><ns1:votingAuthority><ns1:Sole>258383</ns1:Sole><ns1:Shared>0</ns1:Shared><ns1:None>0</ns1:None></ns1:votingAuthority></ns1:infoTable><ns1:infoTable><ns1:nameOfIssuer>BECTON DICKINSON &amp; CO</ns1:nameOfIssuer><ns1:titleOfClass>COM</ns1:titleOfClass><ns1:cusip>075887109</ns1:cusip><ns1:value>7033970</ns1:value><ns1:shrsOrPrnAmt><ns1:sshPrnamt>46481</ns1:sshPrnamt><ns1:sshPrnamtType>SH</ns1:sshPrnamtType></ns1:shrsOrPrnAmt><ns1:investmentDiscretion>SOLE</ns1:investmentDiscretion><ns1:votingAuthority><ns1:Sole>46481</ns1:Sole><ns1:Shared>0</ns1:Shared><ns1:None>0</ns1:None></ns1:votingAuthority></ns1:infoTable><ns1:infoTable><ns1:nameOfIssuer>CRH PLC</ns1:nameOfIssuer><ns1:titleOfClass>ORD</ns1:titleOfClass><ns1:cusip>G25508105</ns1:cusip><ns1:value>26811739</ns1:value><ns1:shrsOrPrnAmt><ns1:sshPrnamt>250577</ns1:sshPrnamt><ns1:sshPrnamtType>SH</ns1:sshPrnamtType></ns1:shrsOrPrnAmt><ns1:investmentDiscretion>SOLE</ns1:investmentDiscretion><ns1:votingAuthority><ns1:Sole>250577</ns1:Sole><ns1:Shared>0</ns1:Shared><ns1:None>0</ns1:None></ns1:votingAuthority></ns1:infoTable><ns1:infoTable><ns1:nameOfIssuer>DEVON ENERGY CORP NEW</ns1:nameOfIssuer><ns1:titleOfClass>COM</ns1:titleOfClass><ns1:cusip>25179M103</ns1:cusip><ns1:value>8940037</ns1:value><ns1:shrsOrPrnAmt><ns1:sshPrnamt>216361</ns1:sshPrnamt><ns1:sshPrnamtType>SH</ns1:sshPrnamtType></ns1:shrsOrPrnAmt><ns1:investmentDiscretion>SOLE</ns1:investmentDiscretion><ns1:votingAuthority><ns1:Sole>216361</ns1:Sole><ns1:Shared>0</ns1:Shared><ns1:None>0</ns1:None></ns1:votingAuthority></ns1:infoTable><ns1:infoTable><ns1:nameOfIssuer>EOG RES INC</ns1:nameOfIssuer><ns1:titleOfClass>COM</ns1:titleOfClass><ns1:cusip>26875P101</ns1:cusip><ns1:value>5058562</ns1:value><ns1:shrsOrPrnAmt><ns1:sshPrnamt>38993</ns1:sshPrnamt><ns1:sshPrnamtType>SH</ns1:sshPrnamtType></ns1:shrsOrPrnAmt><ns1:investmentDiscretion>SOLE</ns1:investmentDiscretion><ns1:votingAuthority><ns1:Sole>38993</ns1:Sole><ns1:Shared>0</ns1:Shared><ns1:None>0</ns1:None></ns1:votingAuthority></ns1:infoTable><ns1:infoTable><ns1:nameOfIssuer>ENDEAVOUR SILVER CORP</ns1:nameOfIssuer><ns1:titleOfClass>COM</ns1:titleOfClass><ns1:cusip>29258Y103</ns1:cusip><ns1:value>901783</ns1:value><ns1:shrsOrPrnAmt><ns1:sshPrnamt>108911</ns1:sshPrnamt><ns1:sshPrnamtType>SH</ns1:sshPrnamtType></ns1:shrsOrPrnAmt><ns1:investmentDiscretion>SOLE</ns1:investmentDiscretion><ns1:votingAuthority><ns1:Sole>108911</ns1:Sole><ns1:Shared>0</ns1:Shared><ns1:None>0</ns1:None></ns1:votingAuthority></ns1:infoTable><ns1:infoTable><ns1:nameOfIssuer>FIRST CTZNS BANCSHARES INC N</ns1:nameOfIssuer><ns1:titleOfClass>CL A</ns1:titleOfClass><ns1:cusip>31946M103</ns1:cusip><ns1:value>5222783</ns1:value><ns1:shrsOrPrnAmt><ns1:sshPrnamt>2510</ns1:sshPrnamt><ns1:sshPrnamtType>SH</ns1:sshPrnamtType></ns1:shrsOrPrnAmt><ns1:investmentDiscretion>SOLE</ns1:investmentDiscretion><ns1:votingAuthority><ns1:Sole>2510</ns1:Sole><ns1:Shared>0</ns1:Shared><ns1:None>0</ns1:None></ns1:votingAuthority></ns1:infoTable><ns1:infoTable><ns1:nameOfIssuer>FERGUSON ENTERPRISES INC</ns1:nameOfIssuer><ns1:titleOfClass>COM</ns1:titleOfClass><ns1:cusip>31488V107</ns1:cusip><ns1:value>3531945</ns1:value><ns1:shrsOrPrnAmt><ns1:sshPrnamt>14882</ns1:sshPrnamt><ns1:sshPrnamtType>SH</ns1:sshPrnamtType></ns1:shrsOrPrnAmt><ns1:investmentDiscretion>SOLE</ns1:investmentDiscretion><ns1:votingAuthority><ns1:Sole>14882</ns1:Sole><ns1:Shared>0</ns1:Shared><ns1:None>0</ns1:None></ns1:votingAuthority></ns1:infoTable><ns1:infoTable><ns1:nameOfIssuer>KASPI KZ JSC</ns1:nameOfIssuer><ns1:titleOfClass>SPONSORED ADS</ns1:titleOfClass><ns1:cusip>48581R205</ns1:cusip><ns1:value>11884495</ns1:value><ns1:shrsOrPrnAmt><ns1:sshPrnamt>137171</ns1:sshPrnamt><ns1:sshPrnamtType>SH</ns1:sshPrnamtType></ns1:shrsOrPrnAmt><ns1:investmentDiscretion>SOLE</ns1:investmentDiscretion><ns1:votingAuthority><ns1:Sole>137171</ns1:Sole><ns1:Shared>0</ns1:Shared><ns1:None>0</ns1:None></ns1:votingAuthority></ns1:infoTable><ns1:infoTable><ns1:nameOfIssuer>NAVIOS MARITIME PARTNERS L P</ns1:nameOfIssuer><ns1:titleOfClass>COM UNIT LPI</ns1:titleOfClass><ns1:cusip>Y62267409</ns1:cusip><ns1:value>13747103</ns1:value><ns1:shrsOrPrnAmt><ns1:sshPrnamt>196191</ns1:sshPrnamt><ns1:sshPrnamtType>SH</ns1:sshPrnamtType></ns1:shrsOrPrnAmt><ns1:investmentDiscretion>SOLE</ns1:investmentDiscretion><ns1:votingAuthority><ns1:Sole>196191</ns1:Sole><ns1:Shared>0</ns1:Shared><ns1:None>0</ns1:None></ns1:votingAuthority></ns1:infoTable><ns1:infoTable><ns1:nameOfIssuer>OSISKO DEVELOPMENT CORP</ns1:nameOfIssuer><ns1:titleOfClass>COM NEW</ns1:titleOfClass><ns1:cusip>68828E809</ns1:cusip><ns1:value>1284543</ns1:value><ns1:shrsOrPrnAmt><ns1:sshPrnamt>522172</ns1:sshPrnamt><ns1:sshPrnamtType>SH</ns1:sshPrnamtType></ns1:shrsOrPrnAmt><ns1:investmentDiscretion>SOLE</ns1:investmentDiscretion><ns1:votingAuthority><ns1:Sole>522172</ns1:Sole><ns1:Shared>0</ns1:Shared><ns1:None>0</ns1:None></ns1:votingAuthority></ns1:infoTable><ns1:infoTable><ns1:nameOfIssuer>SEABRIDGE GOLD INC</ns1:nameOfIssuer><ns1:titleOfClass>COM</ns1:titleOfClass><ns1:cusip>811916105</ns1:cusip><ns1:value>1279690</ns1:value><ns1:shrsOrPrnAmt><ns1:sshPrnamt>49716</ns1:sshPrnamt><ns1:sshPrnamtType>SH</ns1:sshPrnamtType></ns1:shrsOrPrnAmt><ns1:investmentDiscretion>SOLE</ns1:investmentDiscretion><ns1:votingAuthority><ns1:Sole>49716</ns1:Sole><ns1:Shared>0</ns1:Shared><ns1:None>0</ns1:None></ns1:votingAuthority></ns1:infoTable><ns1:infoTable><ns1:nameOfIssuer>SKEENA RES LTD NEW</ns1:nameOfIssuer><ns1:titleOfClass>COM</ns1:titleOfClass><ns1:cusip>83056P715</ns1:cusip><ns1:value>3832535</ns1:value><ns1:shrsOrPrnAmt><ns1:sshPrnamt>143756</ns1:sshPrnamt><ns1:sshPrnamtType>SH</ns1:sshPrnamtType></ns1:shrsOrPrnAmt><ns1:investmentDiscretion>SOLE</ns1:investmentDiscretion><ns1:votingAuthority><ns1:Sole>143756</ns1:Sole><ns1:Shared>0</ns1:Shared><ns1:None>0</ns1:None></ns1:votingAuthority></ns1:infoTable><ns1:infoTable><ns1:nameOfIssuer>ZIMMER BIOMET HOLDINGS INC</ns1:nameOfIssuer><ns1:titleOfClass>COM</ns1:titleOfClass><ns1:cusip>98956P102</ns1:cusip><ns1:value>13022318</ns1:value><ns1:shrsOrPrnAmt><ns1:sshPrnamt>151264</ns1:sshPrnamt><ns1:sshPrnamtType>SH</ns1:sshPrnamtType></ns1:shrsOrPrnAmt><ns1:investmentDiscretion>SOLE</ns1:investmentDiscretion><ns1:votingAuthority><ns1:Sole>151264</ns1:Sole><ns1:Shared>0</ns1:Shared><ns1:None>0</ns1:None></ns1:votingAuthority></ns1:infoTable><ns1:infoTable><ns1:nameOfIssuer>ZOETIS INC</ns1:nameOfIssuer><ns1:titleOfClass>CL A</ns1:titleOfClass><ns1:cusip>98978V103</ns1:cusip><ns1:value>12014776</ns1:value><ns1:shrsOrPrnAmt><ns1:sshPrnamt>167197</ns1:sshPrnamt><ns1:sshPrnamtType>SH</ns1:sshPrnamtType></ns1:shrsOrPrnAmt><ns1:investmentDiscretion>SOLE</ns1:investmentDiscretion><ns1:votingAuthority><ns1:Sole>167197</ns1:Sole><ns1:Shared>0</ns1:Shared><ns1:None>0</ns1:None></ns1:votingAuthority></ns1:infoTable><ns1:infoTable><ns1:nameOfIssuer>SPDR GOLD TR</ns1:nameOfIssuer><ns1:titleOfClass>GOLD SHS</ns1:titleOfClass><ns1:cusip>78463V107</ns1:cusip><ns1:value>17682240</ns1:value><ns1:shrsOrPrnAmt><ns1:sshPrnamt>48000</ns1:sshPrnamt><ns1:sshPrnamtType>SH</ns1:sshPrnamtType></ns1:shrsOrPrnAmt><ns1:putCall>Call</ns1:putCall><ns1:investmentDiscretion>SOLE</ns1:investmentDiscretion><ns1:votingAuthority><ns1:Sole>48000</ns1:Sole><ns1:Shared>0</ns1:Shared><ns1:None>0</ns1:None></ns1:votingAuthority></ns1:infoTable></ns1:informationTable>
