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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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hours per response: 23.8
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
ALAMOS GOLD INC NEW COM CL A 011532108   8,162,823 934,100 SH   SOLE   934,100 0 0
ELDORADO GOLD CORP NEW COM 284902509   17,758,087 1,338,213 SH   SOLE   1,338,213 0 0
EMX RTY CORP COM 26873J107   5,437,882 1,605,500 SH   SOLE   1,605,500 0 0
GALIANO GOLD INC COM 36352H100   12,026,897 10,702,256 SH   SOLE   10,702,256 0 0
GOLD FIELDS LTD SPONSORED ADR 38059T106   15,902,592 1,715,490 SH   SOLE   1,715,490 0 0
GREAT PANTHER MNG LTD COM 39115V101   321,875 375,767 SH   SOLE   375,767 0 0
INTEGRA RES CORP COM NEW 45826T301   9,088,409 2,313,000 SH   SOLE   2,313,000 0 0
KIRKLAND LAKE GOLD LTD COM 49741E100   821,438 19,904 SH   SOLE   19,904 0 0
MAG SILVER CORP COM 55903Q104   67,883,668 3,314,734 SH   SOLE   3,314,734 0 0
NORTHERN STAR ACQUISITION CO COM CL A 665742102   233,352 23,900 SH   SOLE   23,900 0 0
PAN AMERN SILVER CORP COM 697900108   38,159,294 1,105,746 SH   SOLE   1,105,746 0 0
PRETIUM RES INC COM 74139C102   553,910 48,250 SH   SOLE   48,250 0 0
SANDSTORM GOLD LTD COM NEW 80013R206   19,332,755 2,697,469 SH   SOLE   2,697,469 0 0
SILVERCREST METALS INC COM 828363101   10,550,223 946,100 SH   SOLE   946,100 0 0
SPROTT PHYSICAL GOLD TR UNIT 85207H104   1,986,946 131,673 SH   SOLE   131,673 0 0