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        <nameOfIssuer>ABERCROMBIE &amp; FITCH CO</nameOfIssuer>
        <titleOfClass>CL A</titleOfClass>
        <cusip>002896207</cusip>
        <value>85920</value>
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            <Sole>3000</Sole>
            <Shared>0</Shared>
            <None>0</None>
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    <infoTable>
        <nameOfIssuer>ACUITY BRANDS INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>00508Y102</cusip>
        <value>112055</value>
        <shrsOrPrnAmt>
            <sshPrnamt>800</sshPrnamt>
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        <votingAuthority>
            <Sole>800</Sole>
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            <None>0</None>
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    <infoTable>
        <nameOfIssuer>AGNICO EAGLE MINES LTD</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>008474108</cusip>
        <value>487033</value>
        <shrsOrPrnAmt>
            <sshPrnamt>19522</sshPrnamt>
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            <Sole>19522</Sole>
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            <None>0</None>
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    <infoTable>
        <nameOfIssuer>ALTERA CORP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>021441100</cusip>
        <value>3923434</value>
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            <sshPrnamt>106211</sshPrnamt>
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            <Sole>106211</Sole>
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            <None>0</None>
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        <nameOfIssuer>ANGLOGOLD ASHANTI LIMITED</nameOfIssuer>
        <titleOfClass>SPONSORED ADR</titleOfClass>
        <cusip>035128206</cusip>
        <value>718272</value>
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            <sshPrnamt>82560</sshPrnamt>
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            <Sole>82560</Sole>
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            <None>0</None>
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        <nameOfIssuer>APPLE INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>037833100</cusip>
        <value>39736</value>
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            <Sole>360</Sole>
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            <None>0</None>
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    <infoTable>
        <nameOfIssuer>APPLIED MICRO CIRCUITS CORP</nameOfIssuer>
        <titleOfClass>COM NEW</titleOfClass>
        <cusip>03822W406</cusip>
        <value>8703547</value>
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            <sshPrnamt>1334900</sshPrnamt>
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            <Sole>1334900</Sole>
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            <None>0</None>
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    <infoTable>
        <nameOfIssuer>B2GOLD CORP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>11777Q209</cusip>
        <value>356545</value>
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            <sshPrnamt>217533</sshPrnamt>
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            <Sole>217533</Sole>
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            <None>0</None>
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        <nameOfIssuer>BARRICK GOLD CORP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>067901108</cusip>
        <value>1924131</value>
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            <sshPrnamt>178989</sshPrnamt>
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        <votingAuthority>
            <Sole>178989</Sole>
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            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>CHICAGO BRIDGE &amp; IRON CO N V</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>167250109</cusip>
        <value>81861</value>
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            <sshPrnamt>1950</sshPrnamt>
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        <votingAuthority>
            <Sole>1950</Sole>
            <Shared>0</Shared>
            <None>0</None>
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        <nameOfIssuer>CISCO SYS INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>17275R102</cusip>
        <value>739879</value>
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            <sshPrnamt>26600</sshPrnamt>
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            <Sole>26600</Sole>
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            <None>0</None>
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        <nameOfIssuer>COMPANIA DE MINAS BUENAVENTU</nameOfIssuer>
        <titleOfClass>SPONSORED ADR</titleOfClass>
        <cusip>204448104</cusip>
        <value>161793</value>
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            <sshPrnamt>16924</sshPrnamt>
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            <Sole>16924</Sole>
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        <nameOfIssuer>DISNEY WALT CO</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>254687106</cusip>
        <value>3039322</value>
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            <sshPrnamt>32268</sshPrnamt>
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        <votingAuthority>
            <Sole>32268</Sole>
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            <None>0</None>
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        <nameOfIssuer>ELDORADO GOLD CORP NEW</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>284902103</cusip>
        <value>443166</value>
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            <sshPrnamt>72560</sshPrnamt>
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        <votingAuthority>
            <Sole>72560</Sole>
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            <None>0</None>
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        <nameOfIssuer>FLIR SYS INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>302445101</cusip>
        <value>9343858</value>
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            <sshPrnamt>289194</sshPrnamt>
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        <votingAuthority>
            <Sole>289194</Sole>
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            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>FORTUNA SILVER MINES INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>349915108</cusip>
        <value>564796</value>
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            <sshPrnamt>124000</sshPrnamt>
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            <Sole>124000</Sole>
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            <None>0</None>
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        <nameOfIssuer>FRANCO NEV CORP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>351858105</cusip>
        <value>457250</value>
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            <sshPrnamt>9265</sshPrnamt>
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            <Sole>9265</Sole>
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        <nameOfIssuer>GOLD FIELDS LTD</nameOfIssuer>
        <titleOfClass>SPONSORED ADR</titleOfClass>
        <cusip>38059T106</cusip>
        <value>188049</value>
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            <sshPrnamt>41512</sshPrnamt>
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            <Sole>41512</Sole>
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            <None>0</None>
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        <nameOfIssuer>GOLDCORP INC NEW</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>380956409</cusip>
        <value>799212</value>
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            <Sole>43071</Sole>
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        <nameOfIssuer>GUESS INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>401617105</cusip>
        <value>57421</value>
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        <votingAuthority>
            <Sole>2724</Sole>
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            <None>0</None>
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        <nameOfIssuer>HARMAN INTL INDS INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>413086109</cusip>
        <value>4938005</value>
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            <sshPrnamt>46275</sshPrnamt>
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            <Sole>46275</Sole>
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        <nameOfIssuer>ISHARES</nameOfIssuer>
        <titleOfClass>MSCI ACWI ETF</titleOfClass>
        <cusip>464288257</cusip>
        <value>5012865</value>
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            <sshPrnamt>85690</sshPrnamt>
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            <Sole>0</Sole>
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        <nameOfIssuer>ISHARES TR</nameOfIssuer>
        <titleOfClass>MSCI EMG MKT ETF</titleOfClass>
        <cusip>464287234</cusip>
        <value>2559075</value>
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            <Sole>0</Sole>
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            <None>65133</None>
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        <nameOfIssuer>ISHARES TR</nameOfIssuer>
        <titleOfClass>RUSSELL 2000 ETF</titleOfClass>
        <cusip>464287655</cusip>
        <value>1818984</value>
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            <sshPrnamt>15200</sshPrnamt>
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        <nameOfIssuer>ISHARES TR</nameOfIssuer>
        <titleOfClass>CHINA LG-CAP ETF</titleOfClass>
        <cusip>464287184</cusip>
        <value>1150293</value>
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            <Sole>0</Sole>
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            <None>27638</None>
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        <nameOfIssuer>KINROSS GOLD CORP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>496902404</cusip>
        <value>248901</value>
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            <sshPrnamt>88506</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>88506</Sole>
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            <None>0</None>
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        <nameOfIssuer>MACYS INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>55616P104</cusip>
        <value>644350</value>
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            <sshPrnamt>9800</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>9800</Sole>
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        <nameOfIssuer>MARVELL TECHNOLOGY GROUP LTD</nameOfIssuer>
        <titleOfClass>ORD</titleOfClass>
        <cusip>G5876H105</cusip>
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        <investmentDiscretion>SOLE</investmentDiscretion>
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            <Sole>3700</Sole>
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            <None>0</None>
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        <nameOfIssuer>MICRON TECHNOLOGY INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>595112103</cusip>
        <value>10622734</value>
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            <sshPrnamt>303420</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
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            <Sole>303420</Sole>
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            <None>0</None>
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        <nameOfIssuer>MICROSOFT CORP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>594918104</cusip>
        <value>1780196</value>
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            <sshPrnamt>38325</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
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            <Sole>38325</Sole>
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        <nameOfIssuer>NEW GOLD INC CDA</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>644535106</cusip>
        <value>117539</value>
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            <sshPrnamt>27360</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>27360</Sole>
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            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>NEWMONT CORP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>651639106</cusip>
        <value>852579</value>
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            <sshPrnamt>45110</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>45110</Sole>
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            <None>0</None>
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        <nameOfIssuer>NVIDIA CORPORATION</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>67066G104</cusip>
        <value>22334657</value>
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            <sshPrnamt>1113948</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
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            <Sole>1113948</Sole>
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        <nameOfIssuer>ORACLE CORP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>68389X105</cusip>
        <value>795969</value>
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            <sshPrnamt>17700</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>17700</Sole>
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            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>PAN AMERN SILVER CORP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>697900108</cusip>
        <value>46542</value>
        <shrsOrPrnAmt>
            <sshPrnamt>5059</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>5059</Sole>
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            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>PVH CORPORATION</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>693656100</cusip>
        <value>487045</value>
        <shrsOrPrnAmt>
            <sshPrnamt>3800</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>3800</Sole>
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            <None>0</None>
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        <nameOfIssuer>RALPH LAUREN CORP</nameOfIssuer>
        <titleOfClass>CL A</titleOfClass>
        <cusip>751212101</cusip>
        <value>804890</value>
        <shrsOrPrnAmt>
            <sshPrnamt>4347</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>4347</Sole>
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            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>RANDGOLD RES LTD</nameOfIssuer>
        <titleOfClass>ADR</titleOfClass>
        <cusip>752344309</cusip>
        <value>161784</value>
        <shrsOrPrnAmt>
            <sshPrnamt>2400</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>2400</Sole>
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            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>RF MICRODEVICES INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>749941100</cusip>
        <value>995400</value>
        <shrsOrPrnAmt>
            <sshPrnamt>60000</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>60000</Sole>
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            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>ROYAL GOLD INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>780287108</cusip>
        <value>397831</value>
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            <sshPrnamt>6345</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
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