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
AGNICO EAGLE MINES LTD COM 008474108 3,990 137,450 SH   SOLE   137,450 0 0
ALAMOS GOLD INC COM 011527108 959 120,500 SH   SOLE   120,500 0 0
ANGLOGOLD ASHANTI LTD SPONSORED ADR 035128206 2,176 181,322 SH   SOLE   181,322 0 0
AURICO GOLD INC COM 05155C105 701 200,757 SH   SOLE   200,757 0 0
B2GOLD COM 11777Q951 1,360 668,400 SH   SOLE   668,400 0 0
BARRICK GOLD CORP COM 067901108 122 8,300 SH   SOLE   8,300 0 0
BRISTOL MYERS SQUIBB CO COM 110122108 51 1,000 SH   SOLE   1,000 0 0
CENTRAL FD CDA LTD CL A 153501101 452 36,700 SH   SOLE   36,700 0 0
CENTRAL GOLDTRUST TR UNIT 153546106 211 4,900 SH   SOLE   4,900 0 0
DIREXION SHS ETF TR DLYFINBEAR3X NEW 25459Y447 33 2,000 SH   SOLE   2,000 0 0
ELDORADO GOLD CORP NEW COM 284902103 2,666 395,433 SH   SOLE   395,433 0 0
ETFS GOLD TR SHS 26922Y105 344 2,900 SH   SOLE   2,900 0 0
FORTUNA SILVER MINES COM 349915959 807 200,000 SH   SOLE   200,000 0 0
FRANCO NEVADA CORP COM 351858105 1,896 38,736 SH   SOLE   38,736 0 0
GENERAL MTRS CO COM 37045V100 31 1,000 SH   SOLE   1,000 0 0
GOLD FIELDS LTD NEW SPONSORED ADR 38059T106 1,814 465,000 SH   SOLE   465,000 0 0
GOLDCORP INC NEW COM 380956409 10,788 468,450 SH   SOLE   468,450 0 0
IAMGOLD CORP COM 450913108 1,598 579,100 SH   SOLE   579,100 0 0
KINROSS GOLD CORP COM NO PAR 496902404 1,020 308,800 SH   SOLE   308,800 0 0
MAG SILVER CORP COM 55903Q104 1,116 150,000 SH   SOLE   150,000 0 0
NEVSUN RES LTD CALL 64156L101 90 25,000 SH   SOLE   25,000 0 0
NEW GOLD INC CDA COM 644535106 252 49,900 SH   SOLE   49,900 0 0
NEWMONT MINING CORP COM 651639106 2,737 118,761 SH   SOLE   118,761 0 0
PAN AMERICAN SILVER CORP COM 697900108 275 25,000 SH   SOLE   25,000 0 0
PFIZER INC COM 717081103 29 1,000 SH   SOLE   1,000 0 0
PG&E CORP COM 69331C108 90 2,000 SH   SOLE   2,000 0 0
RANDGOLD RES LTD ADR 752344309 8,618 127,500 SH   SOLE   127,600 0 0
ROYAL GOLD INC COM 780287108 4,487 69,100 SH   SOLE   69,100 0 0
SIBANYE GOLD LTD SPONSORED ADR 825724206 2,718 320,500 SH   SOLE   320,500 0 0
SILVER WHEATON CORP COM 828336107 4,607 231,000 SH   SOLE   231,000 0 0
SPDR GOLD TRUST COM 863307104 4,834 41,600 SH   SOLE   41,600 0 0
SPROTT PHYSICAL GOLD TRUST UNIT 85207H104 482 48,400 SH   SOLE   48,400 0 0
TAHOE RES INC COM 873868103 2,382 117,100 SH   SOLE   117,100 0 0
VERIZON COMMUNICATIONS INC COM 92343v104 50 1,000 SH   SOLE   1,000 0 0
YAMANA GOLD INC COM 98462Y100 2,231 371,750 SH   SOLE   371,750 0 0