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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
AURICO GOLD INC COM 05155C105 364 83,300 SH   SOLE   83,300 0 0
COBALT INTL ENERGY INC COM 19075F106 1,398 52,600 SH   SOLE   52,600 0 0
ELDORADO GOLD CORP NEW COM 284902103 601 92,570 SH   SOLE   92,570 0 0
GENCORP INC COM 368682100 1,011 62,200 SH   SOLE   62,200 0 0
GOLDCORP INC NEW COM 380956409 295 11,930 SH   SOLE   11,930 0 0
HARMONY GOLD MNG LTD SPONSORED ADR 413216300 192 50,300 SH   SOLE   50,300 0 0
KINROSS GOLD CORP COM NO PAR 496902404 31 6,000 SH   SOLE   6,000 0 0
LORILLARD INC COM 544147101 2,184 50,000 SH Put SOLE   50,000 0 0
MAG SILVER CORP COM 55903Q104 105 17,000 SH   SOLE   17,000 0 0
NEW GOLD INC CDA COM 644535106 598 93,200 SH   SOLE   93,200 0 0
NEWMONT MINING CORP COM 651639106 347 11,600 SH   SOLE   11,600 0 0
RUBICON MINERALS CORP COM 780911103 90 66,600 SH   SOLE   66,600 0 0
ST JOE CO COM 790148100 1,242 59,000 SH   SOLE   59,000 0 0
YAMANA GOLD INC COM 98462Y100 927 92,435 SH   SOLE   92,435 0 0