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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
SPROTT PHYSICAL GOLD TR UNIT 85207H104   2,035,665 131,673 SH   SOLE   131,673 0 0
SILVERCREST METALS INC COM 828363101   309,952 43,597 SH   SOLE   43,597 0 0
PAN AMERN SILVER CORP COM 697900108   6,524,154 358,470 SH   SOLE   358,470 0 0
OSISKO DEVELOPMENT CORP COM NEW 68828E809   745,431 152,900 SH   SOLE   152,900 0 0
MAG SILVER CORP COM 55903Q104   197,847 15,676 SH   SOLE   15,676 0 0
KOSMOS ENERGY LTD COM 500688106   12,111,479 1,627,887 SH   SOLE   1,627,887 0 0
INTEGRA RES CORP COM NEW 45826T301   86,397 162,200 SH   SOLE   162,200 0 0
I-80 GOLD CORP COM 44955L106   284,542 116,906 SH   SOLE   116,906 0 0
GALIANO GOLD INC COM 36352H100   3,693,427 6,240,583 SH   SOLE   6,240,583 0 0
ERO COPPER CORP COM 296006109   1,218,746 68,900 SH   SOLE   68,900 0 0
ELDORADO GOLD CORP NEW COM 284902509   9,281,079 895,857 SH   SOLE   895,857 0 0
EMX RTY CORP COM 26873J107   3,123,780 1,605,500 SH   SOLE   1,605,500 0 0
AGNICO EAGLE MINES LTD COM 008474108   1,785,173 35,024 SH   SOLE   35,024 0 0