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
ADAM NAT RES FD INC COM 00548F105 658 33,809 SH   SOLE   33,809 0 0
AEMETIS INC COM NEW 00770K202 73 11,900 SH   SOLE   11,900 0 0
AERSALE CORPORATION COM 00810F106 10,290 555,000 SH   SOLE   555,000 0 0
AGNICO EAGLE MINES LTD COM 008474108 55,172 1,307,114 SH   SOLE   1,307,114 0 0
ALAMOS GOLD INC NEW COM CL A 011532108 38,303 5,169,159 SH   SOLE   5,169,159 0 0
ALBEMARLE CORP COM 012653101 273 1,033 SH   SOLE   1,033 0 0
ALMADEN MINERALS LTD COM CL B 020283305 18 83,100 SH   SOLE   83,100 0 0
AMAZON COM INC COM 023135106 271 2,400 SH   SOLE   2,400 0 0
AMERICAS GOLD AND SILVER COR COM 03062D100 1,295 3,088,644 SH   SOLE   3,088,644 0 0
ANGLOGOLD ASHANTI LIMITED SPONSORED ADR 035128206 2,543 184,000 SH   SOLE   184,000 0 0
APPHARVEST INC COM 03783T103 139 70,674 SH   SOLE   70,674 0 0
APPLE INC COM 037833100 337 2,440 SH   SOLE   2,440 0 0
ARTISAN PARTNERS ASSET MGMT CL A 04316A108 8,214 305,000 SH   SOLE   305,000 0 0
ATLAS CORP SHARES Y0436Q109 605 43,498 SH   SOLE   43,498 0 0
B2GOLD CORP COM 11777Q209 7,109 2,207,714 SH   SOLE   2,207,714 0 0
BARRICK GOLD CORP COM 067901108 5,563 358,911 SH   SOLE   358,911 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 9,424 35,292 SH   SOLE   35,292 0 0
BERRY CORP COM 08579X101 2,653 353,708 SH   SOLE   353,708 0 0
BHP GROUP LTD SPONSORED ADS 088606108 1,188 23,733 SH   SOLE   23,733 0 0
BRIGHAM MINERALS INC CL A COM 10918L103 1,198 48,566 SH   SOLE   48,566 0 0
BUCKLE INC COM 118440106 8,865 280,000 SH   SOLE   280,000 0 0
CAL MAINE FOODS INC COM NEW 128030202 9,728 175,000 SH   SOLE   175,000 0 0
CAMECO CORP COM 13321L108 2,831 106,788 SH   SOLE   106,788 0 0
CF INDS HLDGS INC COM 125269100 892 9,265 SH   SOLE   9,265 0 0
CHEMOURS CO COM 163851108 544 22,080 SH   SOLE   22,080 0 0
CHENIERE ENERGY INC COM NEW 16411R208 945 5,694 SH   SOLE   5,694 0 0
CIRRUS LOGIC INC COM 172755100 206 3,000 SH   SOLE   3,000 0 0
CME GROUP INC COM 12572Q105 837 4,728 SH   SOLE   4,728 0 0
COEUR MNG INC COM NEW 192108504 1,590 464,876 SH   SOLE   464,876 0 0
CONTANGO ORE INC COM 21077F100 7,870 263,200 SH   SOLE   263,200 0 0
CORE LABORATORIES N V COM N22717107 185 13,696 SH   SOLE   13,696 0 0
CORTEVA INC COM 22052L104 1,527 26,715 SH   SOLE   26,715 0 0
DAKOTA GOLD CORP COM 46655E100 4,373 1,433,856 SH   SOLE   1,433,856 0 0
DARLING INGREDIENTS INC COM 237266101 441 6,674 SH   SOLE   6,674 0 0
DENISON MINES CORP COM 248356107 3,846 3,301,180 SH   SOLE   3,301,180 0 0
ELDORADO GOLD CORP NEW COM 284902509 223 37,018 SH   SOLE   37,018 0 0
ELECTRA BATTERY MATERIALS CO COM NEW 28474P201 196 70,659 SH   SOLE   70,659 0 0
EMX RTY CORP COM 26873J107 7,042 3,781,609 SH   SOLE   3,781,609 0 0
ENDEAVOUR SILVER CORP COM 29258Y103 36 11,781 SH   SOLE   11,781 0 0
ENERGY FUELS INC COM NEW 292671708 123 20,078 SH   SOLE   20,078 0 0
EQUINOX GOLD CORP COM 29446Y502 21,192 5,832,406 SH   SOLE   5,832,406 0 0
ERO COPPER CORP COM 296006109 8,017 728,772 SH   SOLE   728,772 0 0
EXXON MOBIL CORP COM 30231G102 6,237 71,433 SH   SOLE   71,433 0 0
FEDERATED HERMES INC CL B 314211103 10,764 325,000 SH   SOLE   325,000 0 0
FIRST MAJESTIC SILVER CORP COM 32076V103 5,987 784,312 SH   SOLE   784,312 0 0
FIRST TR EXCHANGE-TRADED FD NAT GAS ETF 33733E807 418 18,280 SH   SOLE   18,280 0 0
FORTUNA SILVER MINES INC COM 349915108 7,506 2,989,698 SH   SOLE   2,989,698 0 0
FRANCO NEV CORP COM 351858105 25,312 211,956 SH   SOLE   211,956 0 0
FREEPORT-MCMORAN INC CL B 35671D857 534 19,544 SH   SOLE   19,544 0 0
FRP HLDGS INC COM 30292L107 6,523 120,000 SH   SOLE   120,000 0 0
FURY GOLD MINES LIMITED COM 36117T100 10 26,067 SH   SOLE   26,067 0 0
GATOS SILVER INC COM 368036109 3,873 1,445,269 SH   SOLE   1,445,269 0 0
GOLD FIELDS LTD SPONSORED ADR 38059T106 28,578 3,532,532 SH   SOLE   3,532,532 0 0
GOLD ROYALTY CORP COMMON SHARES 38071H106 1,665 655,691 SH   SOLE   655,691 0 0
GOLD ROYALTY CORP *W EXP 99/99/999 38071H114 45 119,940 SH   SOLE   119,940 0 0
GOLDMINING INC COM 38149E101 35 42,500 SH   SOLE   42,500 0 0
GRAFTECH INTL LTD COM 384313508 186 43,105 SH   SOLE   43,105 0 0
HECLA MNG CO COM 422704106 10,177 2,582,925 SH   SOLE   2,582,925 0 0
HELMERICH & PAYNE INC COM 423452101 9,266 250,628 SH   SOLE   250,628 0 0
HUDBAY MINERALS INC COM 443628102 317 78,800 SH   SOLE   78,800 0 0
I-80 GOLD CORP COM 44955L106 38,055 21,604,774 SH   SOLE   21,604,774 0 0
ICAD INC COM NEW 44934S206 93 44,400 SH   SOLE   44,400 0 0
INDUSTRIAS BACHOCO SAB SPON ADR B 456463108 1,563 33,943 SH   SOLE   33,943 0 0
INTEGRA RES CORP COM NEW 45826T301 1,162 2,178,092 SH   SOLE   2,178,092 0 0
INTERNATIONAL TOWER HILL MIN COM 46050R102 13,783 26,789,591 SH   SOLE   26,789,591 0 0
ISHARES SILVER TR ISHARES 46428Q109 998 57,000 SH Call SOLE   57,000 0 0
ISHARES SILVER TR ISHARES 46428Q109 1,246 71,179 SH   SOLE   71,179 0 0
ISHARES TR 20 YR TR BD ETF 464287432 1,805 17,615 SH   SOLE   17,615 0 0
ISHARES TR 20 YR TR BD ETF 464287432 3,801 37,100 SH Put SOLE   37,100 0 0
ITERIS INC NEW COM 46564T107 30 10,000 SH   SOLE   10,000 0 0
KENNEDY-WILSON HOLDINGS INC COM 489398107 9,088 587,848 SH   SOLE   587,848 0 0
KINROSS GOLD CORP COM 496902404 1,090 290,000 SH Call SOLE   290,000 0 0
KINROSS GOLD CORP COM 496902404 15,980 4,377,078 SH   SOLE   4,377,078 0 0
MAG SILVER CORP COM 55903Q104 64,163 5,137,903 SH   SOLE   5,137,903 0 0
MARCUS & MILLICHAP INC COM 566324109 5,245 160,000 SH   SOLE   160,000 0 0
MAVERIX METALS INC COM NEW 57776F405 15,616 4,692,409 SH   SOLE   4,692,409 0 0
MCEWEN MNG INC COM NEW 58039P305 75 246,058 SH   SOLE   246,058 0 0
METALLA RTY & STREAMING LTD COM NEW 59124U605 123 31,741 SH   SOLE   31,741 0 0
MP MATERIALS CORP COM CL A 553368101 255 9,325 SH   SOLE   9,325 0 0
NEW GOLD INC CDA COM 644535106 12,011 13,648,591 SH   SOLE   13,648,591 0 0
NEW PAC METALS CORP COM 64782A107 46 21,739 SH   SOLE   21,739 0 0
NEWMONT CORP COM 651639106 27,557 655,657 SH   SOLE   655,657 0 0
NEXGEN ENERGY LTD COM 65340P106 2,965 815,306 SH   SOLE   815,306 0 0
NOUVEAU MONDE GRAPHITE INC COM NEW 66979W842 333 61,700 SH   SOLE   61,700 0 0
NOVAGOLD RES INC COM NEW 66987E206 12,614 2,689,653 SH   SOLE   2,689,653 0 0
NUCOR CORP COM 670346105 9,790 91,500 SH   SOLE   91,500 0 0
NUTRIEN LTD COM 67077M108 2,192 26,293 SH   SOLE   26,293 0 0
ORLA MNG LTD NEW COM 68634K106 945 289,900 SH   SOLE   289,900 0 0
OSISKO DEVELOPMENT CORP COM NEW 68828E809 4,778 1,349,485 SH   SOLE   1,349,485 0 0
OSISKO GOLD ROYALTIES LTD COM 68827L101 36,337 3,570,964 SH   SOLE   3,570,964 0 0
PAN AMERN SILVER CORP COM 697900108 41,858 2,635,880 SH   SOLE   2,635,880 0 0
PARAMOUNT GOLD NEV CORP COM 69924M109 28 92,024 SH   SOLE   92,024 0 0
PIMCO ETF TR 25YR+ ZERO U S 72201R882 217 2,330 SH   SOLE   2,330 0 0
PROSHARES TR PSHS ULTRA O&G 74347G705 389 12,720 SH   SOLE   12,720 0 0
QUANTA SVCS INC COM 74762E102 403 3,167 SH   SOLE   3,167 0 0
RELIANCE STEEL & ALUMINUM CO COM 759509102 11,092 63,600 SH   SOLE   63,600 0 0
ROYAL GOLD INC COM 780287108 9,083 96,811 SH   SOLE   96,811 0 0
SANDSTORM GOLD LTD COM NEW 80013R206 30,568 5,907,947 SH   SOLE   5,907,947 0 0
SCHLUMBERGER LTD COM STK 806857108 1,353 37,697 SH   SOLE   37,697 0 0
SCHNITZER STEEL INDS INC CL A 806882106 7,531 264,600 SH   SOLE   264,600 0 0
SCOTTS MIRACLE-GRO CO CL A 810186106 237 5,538 SH   SOLE   5,538 0 0
SEABRIDGE GOLD INC COM 811916105 17,194 1,448,465 SH   SOLE   1,448,465 0 0
SIBANYE STILLWATER LTD SPONSORED ADR 82575P107 24,711 2,651,386 SH   SOLE   2,651,386 0 0
SIGMA LITHIUM CORPORATION COM 826599102 495 18,325 SH   SOLE   18,325 0 0
SILVERCORP METALS INC COM 82835P103 2,155 922,762 SH   SOLE   922,762 0 0
SILVERCREST METALS INC COM 828363101 46,713 8,428,365 SH   SOLE   8,428,365 0 0
SKEENA RES LTD NEW COM 83056P715 5,484 1,172,182 SH   SOLE   1,172,182 0 0
SMART SAND INC COM 83191H107 1,170 750,000 SH   SOLE   750,000 0 0
SOCIEDAD QUIMICA Y MINERA DE SPON ADR SER B 833635105 1,492 16,436 SH   SOLE   16,436 0 0
SPDR GOLD TR GOLD SHS 78463V107 746 4,825 SH   SOLE   4,825 0 0
SPDR SER TR BLOOMBERG 1-3 MO 78468R663 8,037 87,740 SH   SOLE   87,740 0 0
SPROTT ESG GOLD ETF UNITS BEN INT 85210H109 9,369 282,201 SH   SOLE   282,201 0 0
SPROTT ETF TRUST GOLD MINERS ETF 85210B102 251 11,763 SH   SOLE   11,763 0 0
SPROTT FOCUS TR INC COM 85208J109 786 114,196 SH   SOLE   114,196 0 0
SPROTT INC COM NEW 852066208 2,188 65,298 SH   SOLE   65,298 0 0
SPROTT PHYSICAL GOLD & SILVE TR UNIT 85208R101 998 64,117 SH   SOLE   64,117 0 0
SPROTT PHYSICAL GOLD TR UNIT 85207H104 3,467 270,895 SH   SOLE   270,895 0 0
SPROTT PHYSICAL PLAT PALLAD UNIT 85207Q104 916 64,035 SH   SOLE   64,035 0 0
SPROTT PHYSICAL SILVER TR TR UNIT 85207K107 2,815 425,251 SH   SOLE   425,251 0 0
SPROTT FDS TR URANIUM MINERS E 85208P303 371 5,708 SH   SOLE   5,708 0 0
SSR MNG INC COM 784730103 40,197 2,735,787 SH   SOLE   2,735,787 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 14,144 39,600 SH Put SOLE   39,600 0 0
STEEL DYNAMICS INC COM 858119100 8,961 126,300 SH   SOLE   126,300 0 0
TESLA INC COM 88160R101 597 2,250 SH   SOLE   2,250 0 0
TEXAS PACIFIC LAND CORPORATI COM 88262P102 2,916 1,641 SH   SOLE   1,641 0 0
THOR INDS INC COM 885160101 9,447 135,000 SH   SOLE   135,000 0 0
TRILOGY METALS INC NEW COM 89621C105 700 1,153,190 SH   SOLE   1,153,190 0 0
TRIPLE FLAG PRECIOUS METAL COM 89679M104 1,490 117,969 SH   SOLE   117,969 0 0
URANIUM ENERGY CORP COM 916896103 1,673 477,982 SH   SOLE   477,982 0 0
URANIUM RTY CORP COM 91702V101 2,377 1,061,338 SH   SOLE   1,061,338 0 0
UR-ENERGY INC COM 91688R108 15 13,379 SH   SOLE   13,379 0 0
VALE S A SPONSORED ADS 91912E105 852 63,989 SH   SOLE   63,989 0 0
VANECK ETF TRUST GOLD MINERS ETF 92189F106 660 27,361 SH   SOLE   27,361 0 0
VANGUARD SCOTTSDALE FDS SHRT TRM CORP BD 92206C409 3,328 44,800 SH   SOLE   44,800 0 0
VISHAY INTERTECHNOLOGY INC COM 928298108 8,539 480,000 SH   SOLE   480,000 0 0
VIZSLA SILVER CORP COM NEW 92859G202 5,797 5,067,824 SH   SOLE   5,067,824 0 0
WESTERN COPPER & GOLD CORP COM 95805V108 88 69,500 SH   SOLE   69,500 0 0
WESTERN DIGITAL CORP. COM 958102105 5,534 170,000 SH   SOLE   170,000 0 0
WESTLAKE CORPORATION COM 960413102 9,122 105,000 SH   SOLE   105,000 0 0
WHEATON PRECIOUS METALS CORP COM 962879102 26,032 804,478 SH   SOLE   804,478 0 0
YAMANA GOLD INC COM 98462Y100 2,629 580,402 SH   SOLE   580,402 0 0