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		<ns4:nameOfIssuer>ALGONQUIN POWER &amp; UTILITIES CORP. CMN</ns4:nameOfIssuer>
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		<ns4:nameOfIssuer>AMEREN CORPORATION CMN</ns4:nameOfIssuer>
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		<ns4:nameOfIssuer>AMERICAN TOWER CORPORATION CMN</ns4:nameOfIssuer>
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		<ns4:nameOfIssuer>AMERICAN WATER WORKS CO, INC. CMN</ns4:nameOfIssuer>
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		<ns4:nameOfIssuer>AMKOR TECHNOLOGIES INC CMN</ns4:nameOfIssuer>
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		<ns4:nameOfIssuer>ANAPLAN, INC. CMN</ns4:nameOfIssuer>
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		<ns4:nameOfIssuer>ANTERO RESOURCES CORPORATION CMN</ns4:nameOfIssuer>
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		<ns4:nameOfIssuer>ARCHROCK, INC. CMN</ns4:nameOfIssuer>
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		<ns4:nameOfIssuer>AUDENTES THERAPEUTICS, INC. CMN</ns4:nameOfIssuer>
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		<ns4:nameOfIssuer>BANK OF HAWAII CORPORATION CMN</ns4:nameOfIssuer>
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		<ns4:nameOfIssuer>BAYTEX ENERGY CORP. CMN</ns4:nameOfIssuer>
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		<ns4:titleOfClass>COM</ns4:titleOfClass>
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		<ns4:nameOfIssuer>CANADIAN IMPERIAL BANK OF COMMERCE CMN</ns4:nameOfIssuer>
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		<ns4:nameOfIssuer>CANADIAN NATIONAL RAILWAY CO. CMN</ns4:nameOfIssuer>
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		<ns4:nameOfIssuer>FS KKR CAPITAL CORP MUTUAL FUND</ns4:nameOfIssuer>
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		<ns4:cusip>302635107</ns4:cusip>
		<ns4:value>78000</ns4:value>
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			<ns4:sshPrnamt>12790</ns4:sshPrnamt>
			<ns4:sshPrnamtType>SH</ns4:sshPrnamtType>
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		<ns4:investmentDiscretion>SOLE</ns4:investmentDiscretion>
		<ns4:votingAuthority>
			<ns4:Sole>12790</ns4:Sole>
			<ns4:Shared>0</ns4:Shared>
			<ns4:None>0</ns4:None>
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	</ns4:infoTable>
	<ns4:infoTable>
		<ns4:nameOfIssuer>FIRST MAJESTIC SILVER CORP CMN</ns4:nameOfIssuer>
		<ns4:titleOfClass>COM</ns4:titleOfClass>
		<ns4:cusip>32076V103</ns4:cusip>
		<ns4:value>125000</ns4:value>
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			<ns4:sshPrnamt>10200</ns4:sshPrnamt>
			<ns4:sshPrnamtType>SH</ns4:sshPrnamtType>
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		<ns4:investmentDiscretion>SOLE</ns4:investmentDiscretion>
		<ns4:votingAuthority>
			<ns4:Sole>10200</ns4:Sole>
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			<ns4:None>0</ns4:None>
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	<ns4:infoTable>
		<ns4:nameOfIssuer>FRANCO-NEVADA CORPORATION CMN</ns4:nameOfIssuer>
		<ns4:titleOfClass>COM</ns4:titleOfClass>
		<ns4:cusip>351858105</ns4:cusip>
		<ns4:value>465000</ns4:value>
		<ns4:shrsOrPrnAmt>
			<ns4:sshPrnamt>4500</ns4:sshPrnamt>
			<ns4:sshPrnamtType>SH</ns4:sshPrnamtType>
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		<ns4:investmentDiscretion>SOLE</ns4:investmentDiscretion>
		<ns4:votingAuthority>
			<ns4:Sole>4500</ns4:Sole>
			<ns4:Shared>0</ns4:Shared>
			<ns4:None>0</ns4:None>
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	</ns4:infoTable>
	<ns4:infoTable>
		<ns4:nameOfIssuer>GENWORTH FINANCIAL INC CMN CLASS A</ns4:nameOfIssuer>
		<ns4:titleOfClass>COM</ns4:titleOfClass>
		<ns4:cusip>37247D106</ns4:cusip>
		<ns4:value>59000</ns4:value>
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			<ns4:sshPrnamt>13382</ns4:sshPrnamt>
			<ns4:sshPrnamtType>SH</ns4:sshPrnamtType>
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		<ns4:investmentDiscretion>SOLE</ns4:investmentDiscretion>
		<ns4:votingAuthority>
			<ns4:Sole>13382</ns4:Sole>
			<ns4:Shared>0</ns4:Shared>
			<ns4:None>0</ns4:None>
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	</ns4:infoTable>
	<ns4:infoTable>
		<ns4:nameOfIssuer>GROUPON INC CMN</ns4:nameOfIssuer>
		<ns4:titleOfClass>COM</ns4:titleOfClass>
		<ns4:cusip>399473107</ns4:cusip>
		<ns4:value>105000</ns4:value>
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			<ns4:sshPrnamt>44126</ns4:sshPrnamt>
			<ns4:sshPrnamtType>SH</ns4:sshPrnamtType>
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		<ns4:investmentDiscretion>SOLE</ns4:investmentDiscretion>
		<ns4:votingAuthority>
			<ns4:Sole>44126</ns4:Sole>
			<ns4:Shared>0</ns4:Shared>
			<ns4:None>0</ns4:None>
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	</ns4:infoTable>
	<ns4:infoTable>
		<ns4:nameOfIssuer>HAWAIIAN ELEC INDS INC CMN</ns4:nameOfIssuer>
		<ns4:titleOfClass>COM</ns4:titleOfClass>
		<ns4:cusip>419870100</ns4:cusip>
		<ns4:value>257000</ns4:value>
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			<ns4:sshPrnamt>5491</ns4:sshPrnamt>
			<ns4:sshPrnamtType>SH</ns4:sshPrnamtType>
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		<ns4:investmentDiscretion>SOLE</ns4:investmentDiscretion>
		<ns4:votingAuthority>
			<ns4:Sole>5491</ns4:Sole>
			<ns4:Shared>0</ns4:Shared>
			<ns4:None>0</ns4:None>
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	</ns4:infoTable>
	<ns4:infoTable>
		<ns4:nameOfIssuer>HOME BANCSHARES, INC. CMN</ns4:nameOfIssuer>
		<ns4:titleOfClass>COM</ns4:titleOfClass>
		<ns4:cusip>436893200</ns4:cusip>
		<ns4:value>197000</ns4:value>
		<ns4:shrsOrPrnAmt>
			<ns4:sshPrnamt>10024</ns4:sshPrnamt>
			<ns4:sshPrnamtType>SH</ns4:sshPrnamtType>
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		<ns4:investmentDiscretion>SOLE</ns4:investmentDiscretion>
		<ns4:votingAuthority>
			<ns4:Sole>10024</ns4:Sole>
			<ns4:Shared>0</ns4:Shared>
			<ns4:None>0</ns4:None>
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	</ns4:infoTable>
	<ns4:infoTable>
		<ns4:nameOfIssuer>KIRKLAND LAKE GOLD LTD. CMN</ns4:nameOfIssuer>
		<ns4:titleOfClass>COM</ns4:titleOfClass>
		<ns4:cusip>49741E100</ns4:cusip>
		<ns4:value>215000</ns4:value>
		<ns4:shrsOrPrnAmt>
			<ns4:sshPrnamt>4878</ns4:sshPrnamt>
			<ns4:sshPrnamtType>SH</ns4:sshPrnamtType>
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		<ns4:investmentDiscretion>SOLE</ns4:investmentDiscretion>
		<ns4:votingAuthority>
			<ns4:Sole>4878</ns4:Sole>
			<ns4:Shared>0</ns4:Shared>
			<ns4:None>0</ns4:None>
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	</ns4:infoTable>
	<ns4:infoTable>
		<ns4:nameOfIssuer>KOSMOS ENERGY LTD. CMN</ns4:nameOfIssuer>
		<ns4:titleOfClass>COM</ns4:titleOfClass>
		<ns4:cusip>500688106</ns4:cusip>
		<ns4:value>115000</ns4:value>
		<ns4:shrsOrPrnAmt>
			<ns4:sshPrnamt>20223</ns4:sshPrnamt>
			<ns4:sshPrnamtType>SH</ns4:sshPrnamtType>
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		<ns4:investmentDiscretion>SOLE</ns4:investmentDiscretion>
		<ns4:votingAuthority>
			<ns4:Sole>20223</ns4:Sole>
			<ns4:Shared>0</ns4:Shared>
			<ns4:None>0</ns4:None>
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	<ns4:infoTable>
		<ns4:nameOfIssuer>L BRANDS, INC. CMN</ns4:nameOfIssuer>
		<ns4:titleOfClass>COM</ns4:titleOfClass>
		<ns4:cusip>501797104</ns4:cusip>
		<ns4:value>266000</ns4:value>
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			<ns4:sshPrnamt>14686</ns4:sshPrnamt>
			<ns4:sshPrnamtType>SH</ns4:sshPrnamtType>
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		<ns4:investmentDiscretion>SOLE</ns4:investmentDiscretion>
		<ns4:votingAuthority>
			<ns4:Sole>14686</ns4:Sole>
			<ns4:Shared>0</ns4:Shared>
			<ns4:None>0</ns4:None>
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	<ns4:infoTable>
		<ns4:nameOfIssuer>LENNAR CORPORATION CMN CLASS A</ns4:nameOfIssuer>
		<ns4:titleOfClass>COM</ns4:titleOfClass>
		<ns4:cusip>526057104</ns4:cusip>
		<ns4:value>236000</ns4:value>
		<ns4:shrsOrPrnAmt>
			<ns4:sshPrnamt>4227</ns4:sshPrnamt>
			<ns4:sshPrnamtType>SH</ns4:sshPrnamtType>
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		<ns4:investmentDiscretion>SOLE</ns4:investmentDiscretion>
		<ns4:votingAuthority>
			<ns4:Sole>4227</ns4:Sole>
			<ns4:Shared>0</ns4:Shared>
			<ns4:None>0</ns4:None>
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	<ns4:infoTable>
		<ns4:nameOfIssuer>LOCKHEED MARTIN CORPORATION CMN</ns4:nameOfIssuer>
		<ns4:titleOfClass>COM</ns4:titleOfClass>
		<ns4:cusip>539830109</ns4:cusip>
		<ns4:value>355000</ns4:value>
		<ns4:shrsOrPrnAmt>
			<ns4:sshPrnamt>912</ns4:sshPrnamt>
			<ns4:sshPrnamtType>SH</ns4:sshPrnamtType>
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		<ns4:investmentDiscretion>SOLE</ns4:investmentDiscretion>
		<ns4:votingAuthority>
			<ns4:Sole>912</ns4:Sole>
			<ns4:Shared>0</ns4:Shared>
			<ns4:None>0</ns4:None>
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	</ns4:infoTable>
	<ns4:infoTable>
		<ns4:nameOfIssuer>LOEWS CORPORATION CMN</ns4:nameOfIssuer>
		<ns4:titleOfClass>COM</ns4:titleOfClass>
		<ns4:cusip>540424108</ns4:cusip>
		<ns4:value>222000</ns4:value>
		<ns4:shrsOrPrnAmt>
			<ns4:sshPrnamt>4227</ns4:sshPrnamt>
			<ns4:sshPrnamtType>SH</ns4:sshPrnamtType>
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		<ns4:investmentDiscretion>SOLE</ns4:investmentDiscretion>
		<ns4:votingAuthority>
			<ns4:Sole>4227</ns4:Sole>
			<ns4:Shared>0</ns4:Shared>
			<ns4:None>0</ns4:None>
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	</ns4:infoTable>
	<ns4:infoTable>
		<ns4:nameOfIssuer>MARSH &amp; MCLENNAN CO INC CMN</ns4:nameOfIssuer>
		<ns4:titleOfClass>COM</ns4:titleOfClass>
		<ns4:cusip>571748102</ns4:cusip>
		<ns4:value>219000</ns4:value>
		<ns4:shrsOrPrnAmt>
			<ns4:sshPrnamt>1970</ns4:sshPrnamt>
			<ns4:sshPrnamtType>SH</ns4:sshPrnamtType>
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		<ns4:investmentDiscretion>SOLE</ns4:investmentDiscretion>
		<ns4:votingAuthority>
			<ns4:Sole>1970</ns4:Sole>
			<ns4:Shared>0</ns4:Shared>
			<ns4:None>0</ns4:None>
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	<ns4:infoTable>
		<ns4:nameOfIssuer>MASTERCARD INCORPORATED CMN CLASS A</ns4:nameOfIssuer>
		<ns4:titleOfClass>COM</ns4:titleOfClass>
		<ns4:cusip>57636Q104</ns4:cusip>
		<ns4:value>273000</ns4:value>
		<ns4:shrsOrPrnAmt>
			<ns4:sshPrnamt>915</ns4:sshPrnamt>
			<ns4:sshPrnamtType>SH</ns4:sshPrnamtType>
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		<ns4:investmentDiscretion>SOLE</ns4:investmentDiscretion>
		<ns4:votingAuthority>
			<ns4:Sole>915</ns4:Sole>
			<ns4:Shared>0</ns4:Shared>
			<ns4:None>0</ns4:None>
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		<ns4:nameOfIssuer>NATERA, INC. CMN</ns4:nameOfIssuer>
		<ns4:titleOfClass>COM</ns4:titleOfClass>
		<ns4:cusip>632307104</ns4:cusip>
		<ns4:value>215000</ns4:value>
		<ns4:shrsOrPrnAmt>
			<ns4:sshPrnamt>6375</ns4:sshPrnamt>
			<ns4:sshPrnamtType>SH</ns4:sshPrnamtType>
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		<ns4:investmentDiscretion>SOLE</ns4:investmentDiscretion>
		<ns4:votingAuthority>
			<ns4:Sole>6375</ns4:Sole>
			<ns4:Shared>0</ns4:Shared>
			<ns4:None>0</ns4:None>
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		<ns4:nameOfIssuer>NEW GOLD INC. CMN</ns4:nameOfIssuer>
		<ns4:titleOfClass>COM</ns4:titleOfClass>
		<ns4:cusip>644535106</ns4:cusip>
		<ns4:value>42000</ns4:value>
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			<ns4:sshPrnamt>48100</ns4:sshPrnamt>
			<ns4:sshPrnamtType>SH</ns4:sshPrnamtType>
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		<ns4:investmentDiscretion>SOLE</ns4:investmentDiscretion>
		<ns4:votingAuthority>
			<ns4:Sole>48100</ns4:Sole>
			<ns4:Shared>0</ns4:Shared>
			<ns4:None>0</ns4:None>
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		<ns4:nameOfIssuer>NEXTERA ENERGY, INC. CMN</ns4:nameOfIssuer>
		<ns4:titleOfClass>COM</ns4:titleOfClass>
		<ns4:cusip>65339F101</ns4:cusip>
		<ns4:value>446000</ns4:value>
		<ns4:shrsOrPrnAmt>
			<ns4:sshPrnamt>1842</ns4:sshPrnamt>
			<ns4:sshPrnamtType>SH</ns4:sshPrnamtType>
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		<ns4:investmentDiscretion>SOLE</ns4:investmentDiscretion>
		<ns4:votingAuthority>
			<ns4:Sole>1842</ns4:Sole>
			<ns4:Shared>0</ns4:Shared>
			<ns4:None>0</ns4:None>
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		<ns4:nameOfIssuer>PATTERSON-UTI ENERGY, INC. ORD CMN REG OFFER 23054738</ns4:nameOfIssuer>
		<ns4:titleOfClass>COM</ns4:titleOfClass>
		<ns4:cusip>703481101</ns4:cusip>
		<ns4:value>128000</ns4:value>
		<ns4:shrsOrPrnAmt>
			<ns4:sshPrnamt>12153</ns4:sshPrnamt>
			<ns4:sshPrnamtType>SH</ns4:sshPrnamtType>
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		<ns4:investmentDiscretion>SOLE</ns4:investmentDiscretion>
		<ns4:votingAuthority>
			<ns4:Sole>12153</ns4:Sole>
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			<ns4:None>0</ns4:None>
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		<ns4:nameOfIssuer>PEMBINA PIPELINE CORPORATION CMN</ns4:nameOfIssuer>
		<ns4:titleOfClass>COM</ns4:titleOfClass>
		<ns4:cusip>706327103</ns4:cusip>
		<ns4:value>452000</ns4:value>
		<ns4:shrsOrPrnAmt>
			<ns4:sshPrnamt>12200</ns4:sshPrnamt>
			<ns4:sshPrnamtType>SH</ns4:sshPrnamtType>
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		<ns4:investmentDiscretion>SOLE</ns4:investmentDiscretion>
		<ns4:votingAuthority>
			<ns4:Sole>12200</ns4:Sole>
			<ns4:Shared>0</ns4:Shared>
			<ns4:None>0</ns4:None>
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		<ns4:nameOfIssuer>PRETIUM RESOURCES INC. CMN</ns4:nameOfIssuer>
		<ns4:titleOfClass>COM</ns4:titleOfClass>
		<ns4:cusip>74139C102</ns4:cusip>
		<ns4:value>226000</ns4:value>
		<ns4:shrsOrPrnAmt>
			<ns4:sshPrnamt>20300</ns4:sshPrnamt>
			<ns4:sshPrnamtType>SH</ns4:sshPrnamtType>
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		<ns4:investmentDiscretion>SOLE</ns4:investmentDiscretion>
		<ns4:votingAuthority>
			<ns4:Sole>20300</ns4:Sole>
			<ns4:Shared>0</ns4:Shared>
			<ns4:None>0</ns4:None>
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		<ns4:nameOfIssuer>RESTAURANT BRANDS INTERNATIONAL INC. CMN</ns4:nameOfIssuer>
		<ns4:titleOfClass>COM</ns4:titleOfClass>
		<ns4:cusip>76131D103</ns4:cusip>
		<ns4:value>497000</ns4:value>
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			<ns4:sshPrnamt>7800</ns4:sshPrnamt>
			<ns4:sshPrnamtType>SH</ns4:sshPrnamtType>
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		<ns4:investmentDiscretion>SOLE</ns4:investmentDiscretion>
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			<ns4:Sole>7800</ns4:Sole>
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		<ns4:nameOfIssuer>SANDSTORM GOLD LTD. CMN</ns4:nameOfIssuer>
		<ns4:titleOfClass>COM</ns4:titleOfClass>
		<ns4:cusip>80013R206</ns4:cusip>
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			<ns4:sshPrnamt>21200</ns4:sshPrnamt>
			<ns4:sshPrnamtType>SH</ns4:sshPrnamtType>
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		<ns4:investmentDiscretion>SOLE</ns4:investmentDiscretion>
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			<ns4:Sole>21200</ns4:Sole>
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		<ns4:nameOfIssuer>SHAW COMMUNICATIONS INC. NON-VOTING CL-B</ns4:nameOfIssuer>
		<ns4:titleOfClass>COM</ns4:titleOfClass>
		<ns4:cusip>82028K200</ns4:cusip>
		<ns4:value>264000</ns4:value>
		<ns4:shrsOrPrnAmt>
			<ns4:sshPrnamt>13000</ns4:sshPrnamt>
			<ns4:sshPrnamtType>SH</ns4:sshPrnamtType>
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		<ns4:investmentDiscretion>SOLE</ns4:investmentDiscretion>
		<ns4:votingAuthority>
			<ns4:Sole>13000</ns4:Sole>
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			<ns4:None>0</ns4:None>
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		<ns4:nameOfIssuer>SIMPLY GOOD FOODS COMPANY(THE) CMN</ns4:nameOfIssuer>
		<ns4:titleOfClass>COM</ns4:titleOfClass>
		<ns4:cusip>82900L102</ns4:cusip>
		<ns4:value>223000</ns4:value>
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			<ns4:sshPrnamt>7803</ns4:sshPrnamt>
			<ns4:sshPrnamtType>SH</ns4:sshPrnamtType>
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		<ns4:investmentDiscretion>SOLE</ns4:investmentDiscretion>
		<ns4:votingAuthority>
			<ns4:Sole>7803</ns4:Sole>
			<ns4:Shared>0</ns4:Shared>
			<ns4:None>0</ns4:None>
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		<ns4:nameOfIssuer>SPIRIT AEROSYSTEMS  HOLDINGS INC CMN</ns4:nameOfIssuer>
		<ns4:titleOfClass>COM</ns4:titleOfClass>
		<ns4:cusip>848574109</ns4:cusip>
		<ns4:value>229000</ns4:value>
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			<ns4:sshPrnamt>3143</ns4:sshPrnamt>
			<ns4:sshPrnamtType>SH</ns4:sshPrnamtType>
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		<ns4:investmentDiscretion>SOLE</ns4:investmentDiscretion>
		<ns4:votingAuthority>
			<ns4:Sole>3143</ns4:Sole>
			<ns4:Shared>0</ns4:Shared>
			<ns4:None>0</ns4:None>
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		<ns4:nameOfIssuer>SUNCOR ENERGY INC. CMN</ns4:nameOfIssuer>
		<ns4:titleOfClass>COM</ns4:titleOfClass>
		<ns4:cusip>867224107</ns4:cusip>
		<ns4:value>210000</ns4:value>
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			<ns4:sshPrnamt>6400</ns4:sshPrnamt>
			<ns4:sshPrnamtType>SH</ns4:sshPrnamtType>
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		<ns4:investmentDiscretion>SOLE</ns4:investmentDiscretion>
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			<ns4:Sole>6400</ns4:Sole>
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		<ns4:nameOfIssuer>T-MOBILE US, INC. CMN</ns4:nameOfIssuer>
		<ns4:titleOfClass>COM</ns4:titleOfClass>
		<ns4:cusip>872590104</ns4:cusip>
		<ns4:value>223000</ns4:value>
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			<ns4:sshPrnamt>2850</ns4:sshPrnamt>
			<ns4:sshPrnamtType>SH</ns4:sshPrnamtType>
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		<ns4:investmentDiscretion>SOLE</ns4:investmentDiscretion>
		<ns4:votingAuthority>
			<ns4:Sole>2850</ns4:Sole>
			<ns4:Shared>0</ns4:Shared>
			<ns4:None>0</ns4:None>
		</ns4:votingAuthority>
	</ns4:infoTable>
	<ns4:infoTable>
		<ns4:nameOfIssuer>TC ENERGY CORP CMN</ns4:nameOfIssuer>
		<ns4:titleOfClass>COM</ns4:titleOfClass>
		<ns4:cusip>87807B107</ns4:cusip>
		<ns4:value>363000</ns4:value>
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			<ns4:sshPrnamt>6800</ns4:sshPrnamt>
			<ns4:sshPrnamtType>SH</ns4:sshPrnamtType>
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		<ns4:investmentDiscretion>SOLE</ns4:investmentDiscretion>
		<ns4:votingAuthority>
			<ns4:Sole>6800</ns4:Sole>
			<ns4:Shared>0</ns4:Shared>
			<ns4:None>0</ns4:None>
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	</ns4:infoTable>
	<ns4:infoTable>
		<ns4:nameOfIssuer>TELUS CORPORATION CMN</ns4:nameOfIssuer>
		<ns4:titleOfClass>COM</ns4:titleOfClass>
		<ns4:cusip>87971M103</ns4:cusip>
		<ns4:value>337000</ns4:value>
		<ns4:shrsOrPrnAmt>
			<ns4:sshPrnamt>8700</ns4:sshPrnamt>
			<ns4:sshPrnamtType>SH</ns4:sshPrnamtType>
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		<ns4:investmentDiscretion>SOLE</ns4:investmentDiscretion>
		<ns4:votingAuthority>
			<ns4:Sole>8700</ns4:Sole>
			<ns4:Shared>0</ns4:Shared>
			<ns4:None>0</ns4:None>
		</ns4:votingAuthority>
	</ns4:infoTable>
	<ns4:infoTable>
		<ns4:nameOfIssuer>TRANSALTA CORPORATION CMN</ns4:nameOfIssuer>
		<ns4:titleOfClass>COM</ns4:titleOfClass>
		<ns4:cusip>89346D107</ns4:cusip>
		<ns4:value>88000</ns4:value>
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			<ns4:sshPrnamt>12300</ns4:sshPrnamt>
			<ns4:sshPrnamtType>SH</ns4:sshPrnamtType>
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		<ns4:investmentDiscretion>SOLE</ns4:investmentDiscretion>
		<ns4:votingAuthority>
			<ns4:Sole>12300</ns4:Sole>
			<ns4:Shared>0</ns4:Shared>
			<ns4:None>0</ns4:None>
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	</ns4:infoTable>
	<ns4:infoTable>
		<ns4:nameOfIssuer>TRUIST FINANCIAL CORPORATION CMN</ns4:nameOfIssuer>
		<ns4:titleOfClass>COM</ns4:titleOfClass>
		<ns4:cusip>89832Q109</ns4:cusip>
		<ns4:value>362000</ns4:value>
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			<ns4:sshPrnamt>6435</ns4:sshPrnamt>
			<ns4:sshPrnamtType>SH</ns4:sshPrnamtType>
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		<ns4:investmentDiscretion>SOLE</ns4:investmentDiscretion>
		<ns4:votingAuthority>
			<ns4:Sole>6435</ns4:Sole>
			<ns4:Shared>0</ns4:Shared>
			<ns4:None>0</ns4:None>
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	</ns4:infoTable>
	<ns4:infoTable>
		<ns4:nameOfIssuer>TURQUOISE HILL RESOURCES LTD CMN</ns4:nameOfIssuer>
		<ns4:titleOfClass>COM</ns4:titleOfClass>
		<ns4:cusip>900435108</ns4:cusip>
		<ns4:value>150000</ns4:value>
		<ns4:shrsOrPrnAmt>
			<ns4:sshPrnamt>203400</ns4:sshPrnamt>
			<ns4:sshPrnamtType>SH</ns4:sshPrnamtType>
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		<ns4:investmentDiscretion>SOLE</ns4:investmentDiscretion>
		<ns4:votingAuthority>
			<ns4:Sole>203400</ns4:Sole>
			<ns4:Shared>0</ns4:Shared>
			<ns4:None>0</ns4:None>
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	<ns4:infoTable>
		<ns4:nameOfIssuer>UNITED BANKSHARES INC W V CMN</ns4:nameOfIssuer>
		<ns4:titleOfClass>COM</ns4:titleOfClass>
		<ns4:cusip>909907107</ns4:cusip>
		<ns4:value>230000</ns4:value>
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			<ns4:sshPrnamt>5962</ns4:sshPrnamt>
			<ns4:sshPrnamtType>SH</ns4:sshPrnamtType>
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		<ns4:investmentDiscretion>SOLE</ns4:investmentDiscretion>
		<ns4:votingAuthority>
			<ns4:Sole>5962</ns4:Sole>
			<ns4:Shared>0</ns4:Shared>
			<ns4:None>0</ns4:None>
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	<ns4:infoTable>
		<ns4:nameOfIssuer>UPWORK, INC. CMN</ns4:nameOfIssuer>
		<ns4:titleOfClass>COM</ns4:titleOfClass>
		<ns4:cusip>91688F104</ns4:cusip>
		<ns4:value>149000</ns4:value>
		<ns4:shrsOrPrnAmt>
			<ns4:sshPrnamt>13948</ns4:sshPrnamt>
			<ns4:sshPrnamtType>SH</ns4:sshPrnamtType>
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		<ns4:investmentDiscretion>SOLE</ns4:investmentDiscretion>
		<ns4:votingAuthority>
			<ns4:Sole>13948</ns4:Sole>
			<ns4:Shared>0</ns4:Shared>
			<ns4:None>0</ns4:None>
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	<ns4:infoTable>
		<ns4:nameOfIssuer>VALLEY NATIONAL BANCORP CMN</ns4:nameOfIssuer>
		<ns4:titleOfClass>COM</ns4:titleOfClass>
		<ns4:cusip>919794107</ns4:cusip>
		<ns4:value>118000</ns4:value>
		<ns4:shrsOrPrnAmt>
			<ns4:sshPrnamt>10291</ns4:sshPrnamt>
			<ns4:sshPrnamtType>SH</ns4:sshPrnamtType>
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		<ns4:investmentDiscretion>SOLE</ns4:investmentDiscretion>
		<ns4:votingAuthority>
			<ns4:Sole>10291</ns4:Sole>
			<ns4:Shared>0</ns4:Shared>
			<ns4:None>0</ns4:None>
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	<ns4:infoTable>
		<ns4:nameOfIssuer>VERMILION ENERGY INC. CMN</ns4:nameOfIssuer>
		<ns4:titleOfClass>COM</ns4:titleOfClass>
		<ns4:cusip>923725105</ns4:cusip>
		<ns4:value>312000</ns4:value>
		<ns4:shrsOrPrnAmt>
			<ns4:sshPrnamt>19088</ns4:sshPrnamt>
			<ns4:sshPrnamtType>SH</ns4:sshPrnamtType>
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		<ns4:investmentDiscretion>SOLE</ns4:investmentDiscretion>
		<ns4:votingAuthority>
			<ns4:Sole>19088</ns4:Sole>
			<ns4:Shared>0</ns4:Shared>
			<ns4:None>0</ns4:None>
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	</ns4:infoTable>
	<ns4:infoTable>
		<ns4:nameOfIssuer>VISA INC. CMN CLASS A</ns4:nameOfIssuer>
		<ns4:titleOfClass>COM</ns4:titleOfClass>
		<ns4:cusip>92826C839</ns4:cusip>
		<ns4:value>935000</ns4:value>
		<ns4:shrsOrPrnAmt>
			<ns4:sshPrnamt>4974</ns4:sshPrnamt>
			<ns4:sshPrnamtType>SH</ns4:sshPrnamtType>
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		<ns4:investmentDiscretion>SOLE</ns4:investmentDiscretion>
		<ns4:votingAuthority>
			<ns4:Sole>4974</ns4:Sole>
			<ns4:Shared>0</ns4:Shared>
			<ns4:None>0</ns4:None>
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	</ns4:infoTable>
	<ns4:infoTable>
		<ns4:nameOfIssuer>WEC ENERGY GROUP, INC. CMN</ns4:nameOfIssuer>
		<ns4:titleOfClass>COM</ns4:titleOfClass>
		<ns4:cusip>92939U106</ns4:cusip>
		<ns4:value>611000</ns4:value>
		<ns4:shrsOrPrnAmt>
			<ns4:sshPrnamt>6621</ns4:sshPrnamt>
			<ns4:sshPrnamtType>SH</ns4:sshPrnamtType>
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		<ns4:investmentDiscretion>SOLE</ns4:investmentDiscretion>
		<ns4:votingAuthority>
			<ns4:Sole>6621</ns4:Sole>
			<ns4:Shared>0</ns4:Shared>
			<ns4:None>0</ns4:None>
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	</ns4:infoTable>
	<ns4:infoTable>
		<ns4:nameOfIssuer>YAMANA GOLD INC. CMN</ns4:nameOfIssuer>
		<ns4:titleOfClass>COM</ns4:titleOfClass>
		<ns4:cusip>98462Y100</ns4:cusip>
		<ns4:value>146000</ns4:value>
		<ns4:shrsOrPrnAmt>
			<ns4:sshPrnamt>37000</ns4:sshPrnamt>
			<ns4:sshPrnamtType>SH</ns4:sshPrnamtType>
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		<ns4:investmentDiscretion>SOLE</ns4:investmentDiscretion>
		<ns4:votingAuthority>
			<ns4:Sole>37000</ns4:Sole>
			<ns4:Shared>0</ns4:Shared>
			<ns4:None>0</ns4:None>
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	</ns4:infoTable>
	<ns4:infoTable>
		<ns4:nameOfIssuer>ZIONS BANCORP CMN</ns4:nameOfIssuer>
		<ns4:titleOfClass>COM</ns4:titleOfClass>
		<ns4:cusip>989701107</ns4:cusip>
		<ns4:value>203000</ns4:value>
		<ns4:shrsOrPrnAmt>
			<ns4:sshPrnamt>3916</ns4:sshPrnamt>
			<ns4:sshPrnamtType>SH</ns4:sshPrnamtType>
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		<ns4:investmentDiscretion>SOLE</ns4:investmentDiscretion>
		<ns4:votingAuthority>
			<ns4:Sole>3916</ns4:Sole>
			<ns4:Shared>0</ns4:Shared>
			<ns4:None>0</ns4:None>
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		<ns4:nameOfIssuer>BROOKFIELD RENEWABLE PARTNERS L.P</ns4:nameOfIssuer>
		<ns4:titleOfClass>COM</ns4:titleOfClass>
		<ns4:cusip>G16258108</ns4:cusip>
		<ns4:value>410000</ns4:value>
		<ns4:shrsOrPrnAmt>
			<ns4:sshPrnamt>8800</ns4:sshPrnamt>
			<ns4:sshPrnamtType>SH</ns4:sshPrnamtType>
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		<ns4:investmentDiscretion>SOLE</ns4:investmentDiscretion>
		<ns4:votingAuthority>
			<ns4:Sole>8800</ns4:Sole>
			<ns4:Shared>0</ns4:Shared>
			<ns4:None>0</ns4:None>
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		<ns4:nameOfIssuer>CISION LTD. CMN</ns4:nameOfIssuer>
		<ns4:titleOfClass>COM</ns4:titleOfClass>
		<ns4:cusip>G1992S109</ns4:cusip>
		<ns4:value>107000</ns4:value>
		<ns4:shrsOrPrnAmt>
			<ns4:sshPrnamt>10717</ns4:sshPrnamt>
			<ns4:sshPrnamtType>SH</ns4:sshPrnamtType>
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		<ns4:investmentDiscretion>SOLE</ns4:investmentDiscretion>
		<ns4:votingAuthority>
			<ns4:Sole>10717</ns4:Sole>
			<ns4:Shared>0</ns4:Shared>
			<ns4:None>0</ns4:None>
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		<ns4:nameOfIssuer>WHITE MTNS INS GROUP LTD CMN</ns4:nameOfIssuer>
		<ns4:titleOfClass>COM</ns4:titleOfClass>
		<ns4:cusip>G9618E107</ns4:cusip>
		<ns4:value>223000</ns4:value>
		<ns4:shrsOrPrnAmt>
			<ns4:sshPrnamt>200</ns4:sshPrnamt>
			<ns4:sshPrnamtType>SH</ns4:sshPrnamtType>
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		<ns4:investmentDiscretion>SOLE</ns4:investmentDiscretion>
		<ns4:votingAuthority>
			<ns4:Sole>200</ns4:Sole>
			<ns4:Shared>0</ns4:Shared>
			<ns4:None>0</ns4:None>
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		<ns4:nameOfIssuer>INTELSAT S.A. CMN</ns4:nameOfIssuer>
		<ns4:titleOfClass>COM</ns4:titleOfClass>
		<ns4:cusip>L5140P101</ns4:cusip>
		<ns4:value>107000</ns4:value>
		<ns4:shrsOrPrnAmt>
			<ns4:sshPrnamt>15163</ns4:sshPrnamt>
			<ns4:sshPrnamtType>SH</ns4:sshPrnamtType>
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		<ns4:investmentDiscretion>SOLE</ns4:investmentDiscretion>
		<ns4:votingAuthority>
			<ns4:Sole>15163</ns4:Sole>
			<ns4:Shared>0</ns4:Shared>
			<ns4:None>0</ns4:None>
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