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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
Estimated average burden
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 (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
EMX RTY CORP COM 26873j107 5,438 1,605,500 SH   SOLE   1,605,500 0 0
GALIANO GOLD INC COM 36352H100 261 232,000 SH   SOLE   232,000 0 0
GREAT PANTHER MNG LTD COM 39115v101 322 375,767 SH   SOLE   375,767 0 0
MAG SILVER CORP COM 55903Q104 27,141 1,325,282 SH   SOLE   1,325,282 0 0
PAN AMERN SILVER CORP COM 697900108 9,112 264,041 SH   SOLE   264,041 0 0