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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
AMBEV SA-ADR SPONSORED ADR 02319V103   7,620 3,156,817 SH   SOLE   1,450,656 0 1,706,161
AGNICO EAGLE MINES LTD COM 008474108   56,239 473,109 SH   SOLE   309,940 0 163,169
FIRST MAJESTIC SILVER CORP COM 32076V103   341 41,247 SH   SOLE   0 0 41,247
ALAMOS GOLD INC-CLASS A COM CL A 011532108   295 11,089 SH   SOLE   0 0 11,089
ALGONQUIN POWER & UTILITIES COM 015857105   2,029 354,648 SH   SOLE   350,000 0 4,648
GRUPO AEROPORTUARIO SUR-ADR SPON ADR 40051E202   432 1,343 SH   SOLE   0 0 1,343
BARRICK MINING CORP COM 06849F108   45,212 2,171,791 SH   SOLE   1,400,392 0 771,399
BCE INC COM NEW 05534B760   2,741 123,651 SH   SOLE   70,000 0 53,651
BHP GROUP LTD-SPON ADR SPONSERED ADS 088606108   2,675 55,552 SH   SOLE   0 0 55,552
BANK OF NOVA SCOTIA COM 064149107   9,803 177,224 SH   SOLE   62,000 0 115,224
BP PLC-SPONS ADR SPONSORED ADR 055622104   10,936 365,237 SH   SOLE   160,000 0 205,237
BRITISH AMERICAN TOB-SP ADR SPONSORED ADR 110448107   31,460 664,408 SH   SOLE   350,000 0 314,408
B2GOLD CORP COM 11777Q209   25,105 6,953,735 SH   SOLE   5,690,229 0 1,263,506
SPROTT PHYSICAL GOLD AND SIL TR UNIT 85208R101   9,415 312,796 SH   SOLE   0 0 312,796
DAKOTA GOLD CORP COM 46655E100   8,585 2,318,912 SH   SOLE   1,924,658 0 394,254
DIAGEO PLC-SPONSORED ADR SPON ADR NEW 25243Q205   837 8,286 SH   SOLE   0 0 8,286
ENDEAVOUR SILVER CORP COM 29258Y103   136 27,520 SH   SOLE   0 0 27,520
ENBRIDGE INC COM 29250N105   461 10,165 SH   SOLE   0 0 10,165
EQUINOR ASA-SPON ADR SPONSORED ADR 29446M102   6,762 268,922 SH   SOLE   55,000 0 213,922
EQUINOX GOLD CORP COM 29446Y502   7,906 1,372,906 SH   SOLE   1,232,452 0 140,454
ENERGY TRANSFER LP COM UT LTD PTN 29273V100   239 13,210 SH   SOLE   0 0 13,210
FRANCO-NEVADA CORP COM 351858105   37,455 228,628 SH   SOLE   135,366 0 93,262
BLACKROCK FLTNG RT INC STRAT COM 09255X100   371 28,200 SH   SOLE   0 0 28,200
FORTUNA MINING CORP COM NEW 349942102   28,883 4,417,962 SH   SOLE   3,584,980 0 832,982
VANECK GOLD MINERS ETF GOLD MINERS ETF 92189F106   646 12,403 SH   SOLE   0 0 12,403
GSK PLC-SPON ADR SPONSORED ADR 37733W204   8,196 213,261 SH   SOLE   110,760 0 102,501
HALEON PLC-ADR SPON ADS 405552100   957 92,169 SH   SOLE   0 0 92,169
WISDOMTREE PRIVATE CREDIT AN ALTRNTVE INCM FD 97717Y626   369 21,450 SH   SOLE   0 0 21,450
IAMGOLD CORP COM 450913108   9,154 1,245,480 SH   SOLE   1,200,000 0 45,480
I-80 GOLD CORP COM 44955L106   4,378 7,157,725 SH   SOLE   6,409,729 0 747,996
INTL BUSINESS MACHINES CORP COM 459200101   262 891 SH   SOLE   0 0 891
IVANHOE ELECTRIC INC / US COM 46578C108   4,385 481,681 SH   SOLE   319,503 0 162,178
INDIA FUND INC COM 454089103   233 14,100 SH   SOLE   0 0 14,100
INFOSYS LTD-SP ADR SPONSORED ADR 456788108   1,217 65,545 SH   SOLE   55,000 0 10,545
JANUS HENDERSON AAA CLO ETF HENDRSON AAA CL 47103U845   557 10,985 SH   SOLE   0 0 10,985
KINROSS GOLD CORP COM 496902404   14,576 932,379 SH   SOLE   430,000 0 502,379
METALLA ROYALTY & STREAMING COM NEW 59124U605   21,720 5,657,905 SH   SOLE   4,499,531 0 1,158,374
NEWMONT CORP COM 651639106   26,785 459,651 SH   SOLE   232,749 0 226,902
NUTRIEN LTD COM 67077M108   6,139 105,383 SH   SOLE   45,000 0 60,383
NOVO-NORDISK A/S-SPONS ADR ADR 670100205   7,967 115,430 SH   SOLE   40,000 0 75,430
NOVARTIS AG-SPONSORED ADR SPONSORED ADR 66987V109   11,261 93,058 SH   SOLE   40,000 0 53,058
OMEGA HEALTHCARE INVESTORS COM 681936100   213 5,800 SH   SOLE   0 0 5,800
OR ROYALTIES INC COM SHS 68390D106   27,712 1,079,090 SH   SOLE   863,385 0 215,705
PAN AMERICAN SILVER CORP COM 697900108   37,800 1,331,383 SH   SOLE   942,455 0 388,928
SPROTT PHYSICAL GOLD TRUST UNIT 85207H104   1,177 49,064 SH   SOLE   0 0 49,064
PHILIP MORRIS INTERNATIONAL COM 718172109   8,793 48,293 SH   SOLE   16,500 0 31,793
SPDR ICE PREFERRED SECURITIE ICE PFD SEC ETF 78464A292   507 15,965 SH   SOLE   0 0 15,965
SPROTT PHYSICAL SILVER TRUST TR UNIT 85207K107   3,781 311,622 SH   SOLE   0 0 311,622
ROYAL GOLD INC COM 780287108   20,637 116,135 SH   SOLE   89,800 0 26,335
RIO TINTO PLC-SPON ADR SPONSORED ADR 767204100   2,700 46,225 SH   SOLE   0 0 46,225
SHELL PLC-ADR SPON ADS 780259305   11,752 166,870 SH   SOLE   35,000 0 131,870
SK TELECOM CO LTD-SPON ADR SPONSORED ADR 78440P306   2,841 121,537 SH   SOLE   100,000 0 21,537
TELKOM INDONESIA PERSERO-ADR SPONSORED ADR 715684106   6,240 367,958 SH   SOLE   100,000 0 267,958
TAIWAN SEMICONDUCTOR-SP ADR SPONSORED ADS 874039100   649 2,845 SH   SOLE   0 0 2,845
TOTALENERGIES SE -SPON ADR SPONSORED ADS 89151E109   10,037 163,513 SH   SOLE   40,000 0 123,513
UNILEVER PLC-SPONSORED ADR SPON ADR NEW 904767704   10,088 164,863 SH   SOLE   85,000 0 79,863
GLOBAL X URANIUM ETF GLOBAL X URANIUM 37954Y871   245 6,310 SH   SOLE   0 0 6,310
ISHARES BROAD USD HIGH YIELD BROAD USD HIGH 46435U853   558 14,875 SH   SOLE   0 0 14,875
VALE SA-SP ADR SPONSORED ADS 91912E105   636 65,185 SH   SOLE   40,000 0 25,185
VANGUARD EMERG MKTS GOV BND EM MK GOV BD ETF 921946885   574 8,785 SH   SOLE   0 0 8,785
WHEATON PRECIOUS METALS CORP COM 962879102   26,349 293,660 SH   SOLE   220,200 0 73,460
WESTERN COPPER AND GOLD CORP COM 95805V108   371 292,637 SH   SOLE   0 0 292,637
WIPRO LTD-ADR SPON ADR 1 SH 97651M109   77 24,025 SH   SOLE   0 0 24,025
SAP SE-SPONSORED ADR SPON ADR 803054204   259 848 SH   SOLE   0 0 848
CEMEX SAB-SPONS ADR PART CER SPON ADR NEW 151290889   74 10,372 SH   SOLE   0 0 10,372
ITAU UNIBANCO H-SPON PRF ADR SPON ADR REP PFD 465562106   1,216 178,721 SH   SOLE   165,000 0 13,721
BANCO BRADESCO-ADR SP ADR PFD NEW 059460303   1,805 582,848 SH   SOLE   550,000 0 32,848
VODAFONE GROUP PLC-SP ADR SPONSORED ADR 92857W308   150 13,891 SH   SOLE   0 0 13,891
EMX ROYALTY CORP COM 26873J107   953 378,366 SH   SOLE   373,171 0 5,195
EXXON MOBIL CORP COM 30231G102   224 2,080 SH   SOLE   0 0 2,080
ISHARES INTERNATIONAL TREASU INTL TREA BD ETF 464288117   2,038 46,543 SH   SOLE   0 0 46,543
KT CORP-SP ADR SPONSORED ADR 48268K101   201 9,339 SH   SOLE   0 0 9,339
GOLD FIELDS LTD-SPONS ADR SPONSORED ADR 38059T106   353 14,651 SH   SOLE   0 0 14,651
SPDR PORTFOLIO S&P 500 ETF PORTFOLIO S&P500 78464A854   367 5,051 SH   SOLE   0 0 5,051
ISHARES GOLD TRUST ISHARES NEW 464285204   565 9,061 SH   SOLE   0 0 9,061
SPDR BLOOMBERG INT TREASURY BLOOMBERG INTL T 78464A516   1,290 54,023 SH   SOLE   0 0 54,023
ISHARES MSCI ACWI EX US ETF MSCI ACWI EX US 464288240   648 10,633 SH   SOLE   0 0 10,633
VANECK MERK GOLD ETF GOLD TRUST 921078101   14,577 455,611 SH   SOLE   0 0 455,611
ISHARES MSCI USA QUALITY FAC MSCI USA QLT FCT 46432F339   652 3,569 SH   SOLE   0 0 3,569
WISDOMTREE FLOATING RATE TRE FLOATING RAT TREA 97717Y527   338 6,720 SH   SOLE   0 0 6,720
FIRST TRUST EMERGING MARKETS EME MRK BD ETF 33739P202   3,272 111,487 SH   SOLE   0 0 111,487
ANGLOGOLD ASHANTI PLC COM SHS G0378L100   1,625 34,820 SH   SOLE   26,734 0 8,086
AMTD DIGITAL INC-ADR SPONSORED ADS 00180N101   27 208,891 SH   SOLE   208,891 0 0
MERCADOLIBRE INC COM 58733R102   760 289 SH   SOLE   250 0 39