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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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
GALIANO GOLD INC COM 36352H100   13,793,750 14,978,090 SH   SOLE   14,978,090 0 0
NOVAGOLD RES INC COM NEW 66987E206   2,570,592 687,324 SH   SOLE   687,324 0 0
PERPETUA RESOURCES CORP COM 714266103   14,759,516 4,666,508 SH   SOLE   4,666,508 0 0
VISTA GOLD CORP COM NEW 927926303   9,002,998 19,922,544 SH   SOLE   19,922,544 0 0