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 COM 008474108 4,078 134,822 SH   SOLE 0 134,822 0 0
ALAMOS GOLD INC COM 011527108 2,637 291,680 SH   SOLE 0 291,680 0 0
ARGONAUT GOLD INC COM 04016A101 2,531 580,151 SH   SOLE 0 580,151 0 0
B2GOLD COM 11777Q209 3,258 1,200,000 SH   SOLE 0 1,200,000 0 0
DETOUR GOLD CORP COM 250669108 4,302 496,754 SH   SOLE 0 496,754 0 0
DUNDEE PREC MTLS INC COM 265269209 4,241 1,174,542 SH   SOLE 0 1,174,542 0 0
ELDORADO GOLD CORP COM 284902103 3,226 578,120 SH   SOLE 0 578,120 0 0
MKT VECTORS JR MINER ETF 57061R544 4,379 120,900 SH   SOLE 0 120,900 0 0
NEW GOLD INC COM 644535106 2,928 600,000 SH   SOLE 0 600,000 0 0
OSISKO EXPLORATION COM 688278100 3,424 550,000 SH   SOLE 0 550,000 0 0
PAN AMERICAN SILVER COM 697900108 4,203 326,544 SH   SOLE 0 326,544 0 0
PRETIUM RESOURCES COM 74139C102 4,783 823,186 SH   SOLE 0 823,186 0 0
PRIMERO MINING CORP COM 74164W106 2,943 405,960 SH   SOLE 0 406,960 0 0
RANDGOLD RESOURCES ADRS 752344309 5,625 75,000 SH   SOLE 0 75,000 0 0
SPDR GOLD TRUST ETF 78463V107 13,932 112,713 SH   SOLE 0 112,713 0 0
TAHOE RESOURCES INC COM 873868103 529 25,000 SH   SOLE 0 25,000 0 0
TOREX GOLD RESOURCES COM 891054108 1,962 2,026,626 SH   SOLE 0 2,026,626 0 0
YAMANA GOLD INC COM 98462Y100 3,318 377,900 SH   SOLE 0 377,900 0 0