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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
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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   2,378,014 131,673 SH   SOLE   131,673 0 0
KOSMOS ENERGY LTD COM 500688106   35,121,024 6,339,535 SH   SOLE   6,339,535 0 0
GRAN TIERRA ENERGY INC COM 38500T200   7,735,478 799,946 SH   SOLE   799,946 0 0
B2GOLD CORP COM 11777Q209   16,184,987 6,032,986 SH   SOLE   6,032,986 0 0
GALIANO GOLD INC COM 36352H100   62,230,417 36,225,936 SH   SOLE   36,225,936 0 0
INTEGRA RES CORP COM 45826T509   8,054,793 8,815,130 SH   SOLE   8,815,130 0 0
OSISKO DEVELOPMENT CORP COM NEW 68828E809   2,994,267 1,606,335 SH   SOLE   1,606,335 0 0
ELDORADO GOLD CORP NEW COM 284902509   11,086,229 749,576 SH   SOLE   749,576 0 0
VIZSLA SILVER CORP COM NEW 92859G608   9,503,106 5,372,000 SH   SOLE   5,372,000 0 0