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 20,345 450,000 SH   SOLE   450,000 0 0
ALAMOS GOLD INC COM CL A 011532108 5,914 875,000 SH   SOLE   875,000 0 0
ASANKO GOLD INC COM 04341Y105 629 665,000 SH   SOLE   665,000 0 0
B2GOLD CORP COM 11777Q209 4,398 1,594,338 SH   SOLE   1,594,338 0 0
BARRICK GOLD CORP COM 067901108 18,101 1,125,000 SH   SOLE   1,125,000 0 0
COMPANIA DE MINAS BUENAVENTURA SPONSORED ADR 204448104 8,940 699,000 SH   SOLE   699,000 0 0
ELDORADO GOLD CORP COM 284902103 3,402 1,546,570 SH   SOLE   1,546,570 0 0
FRANCO NEVADA CORP COM 351858105 12,401 160,000 SH   SOLE   160,000 0 0
GOLDCORP INC COM 380956409 12,084 932,400 SH   SOLE   932,400 0 0
KINROSS GOLD CORP COM NO PAR 496902404 3,392 800,000 SH   SOLE   800,000 0 0
MAG SILVER CORP COM 55903Q104 3,080 275,000 SH   SOLE   275,000 0 0
NEW GOLD INC COM 644535106 1,855 500,000 SH   SOLE   500,000 0 0
NEWMONT MINING CORP COM 651639106 21,395 570,368 SH   SOLE   570,368 0 0
PRETIUM RESOURCES INC COM 74139C102 6,714 725,000 SH   SOLE   725,000 0 0
RANDGOLD RESOURCES LTD ADR 752344309 24,815 254,100 SH   SOLE   254,100 0 0
ROYAL GOLD INC COM 780287108 16,348 190,000 SH   SOLE   190,000 0 0
TAHOE RESOURCES INC COM 873868103 3,725 708,200 SH   SOLE   708,200 0 0