The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
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
ALAMOS GOLD INC NEW COM CL A 011532108 346 45,300 SH   SOLE   45,300 0 0
ELDORADO GOLD CORP NEW COM 284902509 273 27,400 SH   SOLE   27,400 0 0
EMX RTY CORP COM 26873J107 4,740 1,605,500 SH   SOLE   1,605,500 0 0
Galiano Gold Inc COM 36352H100 522 479,300 SH   SOLE   479,300 0 0
GOLD FIELDS LTD SPONSORED ADR 38059T106 378 42,500 SH   SOLE   42,500 0 0
INTEGRA RES CORP COM NEW 45826T301 152 52,200 SH   SOLE   52,200 0 0
KINROSS GOLD CORP COM 496902404 674 106,239 SH   SOLE   106,239 0 0
MAG SILVER CORP COM 55903Q104 27,939 1,336,375 SH   SOLE   1,336,375 0 0
PAN AMERN SILVER CORP COM 697900108 7,720 270,200 SH   SOLE   270,200 0 0
Sandstorm Gold LTD COM NEW 80013R206 728 92,141 SH   SOLE   92,141 0 0
SPROTT PHYSICAL GOLD TR UNIT 85207H104 1,847 131,673 SH   SOLE   131,673 0 0