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
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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
ABRDN SILVER ETF TRUST PHYSCL SILVR SHS 003264108   313,861 14,763 SH   SOLE   14,763 0 0
ADAM NAT RES FD INC COM 00548F105   824,508 35,662 SH   SOLE   35,662 0 0
AERSALE CORPORATION COM 00810F106   4,855,500 325,000 SH   SOLE   325,000 0 0
AGNICO EAGLE MINES LTD COM 008474108   65,249,137 1,412,300 SH   SOLE   1,412,300 0 0
ALAMOS GOLD INC NEW COM CL A 011532108   44,941,884 4,012,071 SH   SOLE   4,012,071 0 0
ALMADEN MINERALS LTD COM CL B 020283305   5,029 34,325 SH   SOLE   34,325 0 0
AMAZON COM INC COM 023135106   311,444 2,450 SH   SOLE   2,450 0 0
AMERICAS GOLD AND SILVER COR COM 03062D100   1,508,058 2,347,639 SH   SOLE   2,347,639 0 0
APPLE INC COM 037833100   409,192 2,390 SH   SOLE   2,390 0 0
ARIS MNG CORP COM 04040Y109   33,199 14,625 SH   SOLE   14,625 0 0
ARTISAN PARTNERS ASSET MGMT CL A 04316A108   11,226,000 300,000 SH   SOLE   300,000 0 0
BARRICK GOLD CORP COM 067901108   3,898,265 267,922 SH   SOLE   267,922 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702   10,611,288 30,292 SH   SOLE   30,292 0 0
BERRY CORP COM 08579X101   2,834,699 345,695 SH   SOLE   345,695 0 0
BHP GROUP LTD SPONSORED ADS 088606108   1,410,908 24,805 SH   SOLE   24,805 0 0
B2GOLD CORP COM 11777Q209   9,787,051 3,205,135 SH   SOLE   3,205,135 0 0
BUCKLE INC COM 118440106   8,848,350 265,000 SH   SOLE   265,000 0 0
CF INDS HLDGS INC COM 125269100   2,805,042 32,551 SH   SOLE   32,551 0 0
CME GROUP INC COM 12572Q105   888,992 4,387 SH   SOLE   4,387 0 0
CAL MAINE FOODS INC COM NEW 128030202   9,684,000 200,000 SH   SOLE   200,000 0 0
CAMECO CORP COM 13321L108   4,083,696 102,234 SH   SOLE   102,234 0 0
CHEMOURS CO COM 163851108   555,380 19,415 SH   SOLE   19,415 0 0
CHENIERE ENERGY INC COM NEW 16411R208   941,778 5,525 SH   SOLE   5,525 0 0
CIRRUS LOGIC INC COM 172755100   2,218,800 30,000 SH   SOLE   30,000 0 0
COEUR MNG INC COM NEW 192108504   1,652,169 432,937 SH   SOLE   432,937 0 0
CONTANGO ORE INC COM 21077F100   8,686,339 478,850 SH   SOLE   478,850 0 0
CORTEVA INC COM 22052L104   1,248,541 24,020 SH   SOLE   24,020 0 0
DARLING INGREDIENTS INC COM 237266101   318,919 5,939 SH   SOLE   5,939 0 0
DENISON MINES CORP COM 248356107   4,242,433 1,454,550 SH   SOLE   1,454,550 0 0
EMX RTY CORP COM 26873J107   6,070,101 3,380,029 SH   SOLE   3,380,029 0 0
ELDORADO GOLD CORP NEW COM 284902509   1,220,183 90,060 SH   SOLE   90,060 0 0
ENCORE ENERGY CORP COM NEW 29259W700   68,766 21,094 SH   SOLE   21,094 0 0
ENERGY FUELS INC COM NEW 292671708   290,619 35,394 SH   SOLE   35,394 0 0
EQUINOX GOLD CORP COM 29446Y502   35,440,491 8,405,867 SH   SOLE   8,405,867 0 0
ERO COPPER CORP COM 296006109   6,116,778 354,406 SH   SOLE   354,406 0 0
EXXON MOBIL CORP COM 30231G102   15,760,182 133,481 SH   SOLE   133,481 0 0
FMC CORP COM NEW 302491303   373,097 5,460 SH   SOLE   5,460 0 0
FRP HLDGS INC COM 30292L107   7,285,950 135,000 SH   SOLE   135,000 0 0
FEDERATED HERMES INC CL B 314211103   9,652,950 285,000 SH   SOLE   285,000 0 0
FIRST MAJESTIC SILVER CORP COM 32076V103   6,835,979 783,605 SH   SOLE   783,605 0 0
FORTUNA SILVER MINES INC COM 349915108   8,944,496 2,162,034 SH   SOLE   2,162,034 0 0
FRANCO NEV CORP COM 351858105   24,828,239 187,332 SH   SOLE   187,332 0 0
FREEPORT-MCMORAN INC CL B 35671D857   216,460 5,804 SH   SOLE   5,804 0 0
FURY GOLD MINES LIMITED COM 36117T100   198,989 326,079 SH   SOLE   326,079 0 0
GATOS SILVER INC COM 368036109   18,618,418 3,205,240 SH   SOLE   3,205,240 0 0
GOLD FIELDS LTD SPONSORED ADR 38059T106   26,527,498 2,451,192 SH   SOLE   2,451,192 0 0
GOLD ROYALTY CORP COMMON SHARES 38071H106   156,627 122,365 SH   SOLE   122,365 0 0
GOLD ROYALTY CORP *W EXP 99/99/999 38071H114   17,103 227,988 SH   SOLE   227,988 0 0
GOLDMINING INC COM 38149E101   64,804 82,500 SH   SOLE   82,500 0 0
HECLA MNG CO COM 422704106   17,411,770 2,622,659 SH   SOLE   2,622,659 0 0
HELMERICH & PAYNE INC COM 423452101   11,386,278 270,073 SH   SOLE   270,073 0 0
HUDBAY MINERALS INC COM 443628102   383,648 78,800 SH   SOLE   78,800 0 0
HYCROFT MINING HOLDING CORP COM CL A 44862P109   4,588 14,542 SH   SOLE   14,542 0 0
I-80 GOLD CORP COM 44955L106   35,663,932 23,028,417 SH   SOLE   23,028,417 0 0
IAMGOLD CORP COM 450913108   2,750,710 1,279,400 SH   SOLE   1,279,400 0 0
INTEGRA RES CORP COM 45826T509   233,496 284,670 SH   SOLE   284,670 0 0
INTERNATIONAL TOWER HILL MIN COM 46050R102   8,816,451 24,769,853 SH   SOLE   24,769,853 0 0
ISHARES SILVER TR ISHARES 46428Q109   2,454,151 118,654 SH   SOLE   118,654 0 0
ISHARES TR 0-3 MNTH TREASRY 46436E718   323,855 3,217 SH   SOLE   3,217 0 0
DAKOTA GOLD CORP COM 46655E100   1,286,274 498,556 SH   SOLE   498,556 0 0
KENNEDY-WILSON HOLDINGS INC COM 489398107   9,028,112 611,815 SH   SOLE   611,815 0 0
KINROSS GOLD CORP COM 496902404   10,931,163 1,866,520 SH   SOLE   1,866,520 0 0
LARGO INC COM 517097101   59,266 20,900 SH   SOLE   20,900 0 0
MAG SILVER CORP COM 55903Q104   35,887,251 3,186,441 SH   SOLE   3,186,441 0 0
MARCUS & MILLICHAP INC COM 566324109   5,134,500 175,000 SH   SOLE   175,000 0 0
METALLA RTY & STREAMING LTD COM NEW 59124U605   91,448 29,885 SH   SOLE   29,885 0 0
NVR INC COM 62944T105   220,642 37 SH   SOLE   37 0 0
NEW FOUND GOLD CORP COM 64440N103   52,125 12,500 SH   SOLE   12,500 0 0
NEW GOLD INC CDA COM 644535106   9,406,439 10,335,610 SH   SOLE   10,335,610 0 0
NEW PAC METALS CORP COM 64782A107   47,169 26,331 SH   SOLE   26,331 0 0
NEWMONT CORP COM 651639106   6,180,948 171,699 SH   SOLE   171,699 0 0
NEXGEN ENERGY LTD COM 65340P106   7,444,425 741,177 SH   SOLE   741,177 0 0
NOVAGOLD RES INC COM NEW 66987E206   9,056,687 2,369,153 SH   SOLE   2,369,153 0 0
NUCOR CORP COM 670346105   11,851,330 75,800 SH   SOLE   75,800 0 0
NUTRIEN LTD COM 67077M108   1,711,765 27,153 SH   SOLE   27,153 0 0
ORLA MNG LTD NEW COM 68634K106   2,553,407 737,250 SH   SOLE   737,250 0 0
OSISKO GOLD ROYALTIES LTD COM 68827L101   40,439,809 3,459,338 SH   SOLE   3,459,338 0 0
OSISKO DEVELOPMENT CORP W EXP 12/01/202 68828E114   14,250 333,399 SH   SOLE   333,399 0 0
OSISKO DEVELOPMENT CORP COM NEW 68828E809   2,640,036 1,611,615 SH   SOLE   1,611,615 0 0
PAN AMERN SILVER CORP COM 697900108   51,890,141 2,938,159 SH   SOLE   2,938,159 0 0
PURE STORAGE INC CL A 74624M102   447,922 12,575 SH   SOLE   12,575 0 0
QUANTA SVCS INC COM 74762E102   531,892 2,758 SH   SOLE   2,758 0 0
RELIANCE STEEL & ALUMINUM CO COM 759509102   12,062,580 46,000 SH   SOLE   46,000 0 0
RIO TINTO PLC SPONSORED ADR 767204100   489,455 7,691 SH   SOLE   7,691 0 0
ROYAL BK CDA COM 780087102   3,235,471 322,386 SH   SOLE   322,386 0 0
SHELL PLC SPON ADS 780259305   202,797 3,150 SH   SOLE   3,150 0 0
ROYAL GOLD INC COM 780287108   7,831,692 75,176 SH   SOLE   75,176 0 0
SPDR GOLD TR GOLD SHS 78463V107   455,028 2,654 SH   SOLE   2,654 0 0
SPDR SER TR BLOOMBERG 1-3 MO 78468R663   37,947,162 413,316 SH   SOLE   413,316 0 0
SSR MINING IN COM 784730103   29,188,234 1,931,270 SH   SOLE   1,931,270 0 0
SANDSTORM GOLD LTD COM NEW 80013R206   17,772,782 3,805,801 SH   SOLE   3,805,801 0 0
SCHNITZER STEEL INDS INC CL A 806882106   8,970,485 322,100 SH   SOLE   322,100 0 0
SCOTTS MIRACLE-GRO CO CL A 810186106   225,678 4,272 SH   SOLE   4,272 0 0
SEABRIDGE GOLD INC COM 811916105   18,456,702 1,728,334 SH   SOLE   1,728,334 0 0
SIBANYE STILLWATER LTD SPONSORED ADR 82575P107   4,295,520 702,579 SH   SOLE   702,579 0 0
SIGMA LITHIUM CORPORATION COM 826599102   391,652 12,025 SH   SOLE   12,025 0 0
SILVERCORP METALS INC COM 82835P103   3,807,567 949,691 SH   SOLE   949,691 0 0
SILVERCREST METALS INC COM 828363101   44,617,949 9,347,721 SH   SOLE   9,347,721 0 0
SITIO ROYALTIES CORP CLASS A COM 82983N108   5,983,005 245,893 SH   SOLE   245,893 0 0
SKEENA RES LTD NEW COM 83056P715   4,264,551 927,091 SH   SOLE   927,091 0 0
SMART SAND INC COM 83191H107   1,740,000 750,000 SH   SOLE   750,000 0 0
SOCIEDAD QUIMICA Y MINERA DE SPON ADR SER B 833635105   965,400 16,047 SH   SOLE   16,047 0 0
SPROTT INC COM NEW 852066208   1,400,462 45,962 SH   SOLE   45,962 0 0
SPROTT PHYSICAL GOLD TR UNIT 85207H104   4,216,438 294,444 SH   SOLE   294,444 0 0
SPROTT PHYSICAL SILVER TR TR UNIT 85207K107   2,962,604 390,791 SH   SOLE   390,791 0 0
SPROTT PHYSICAL PLAT PALLAD UNIT 85207Q104   704,358 65,400 SH   SOLE   65,400 0 0
SPROTT FOCUS TR INC COM 85208J109   835,515 110,958 SH   SOLE   110,958 0 0
SPROTT FDS TR URANIUM MINERS E 85208P303   759,047 13,611 SH   SOLE   13,611 0 0
SPROTT FDS TR ENERGY TRANSITIN 85208P402   3,231,555 266,100 SH   SOLE   266,100 0 0
SPROTT FDS TR NICKEL MINERS ET 85208P600   526,792 19,482 SH   SOLE   19,482 0 0
SPROTT PHYSICAL GOLD & SILVE TR UNIT 85208R101   24,152,811 788,669 SH   SOLE   788,669 0 0
SPROTT ETF TRUST GOLD MINERS ETF 85210B102   347,927 15,213 SH   SOLE   15,213 0 0
SPROTT ESG GOLD ETF UNITS BEN INT 85210H109   19,122,674 1,414,399 SH   SOLE   1,414,399 0 0
STEEL DYNAMICS INC COM 858119100   11,794,200 110,000 SH   SOLE   110,000 0 0
TECK RESOURCES LTD CL B 878742204   339,980 7,890 SH   SOLE   7,890 0 0
TESLA INC COM 88160R101   562,995 2,250 SH   SOLE   2,250 0 0
TEXAS PACIFIC LAND CORPORATI COM 88262P102   3,498,449 1,875 SH   SOLE   1,875 0 0
THOR INDS INC COM 885160101   6,659,100 70,000 SH   SOLE   70,000 0 0
TRILOGY METALS INC NEW COM 89621C105   751,778 1,525,255 SH   SOLE   1,525,255 0 0
TRIPLE FLAG PRECIOUS METAL COM 89679M104   46,354,830 3,296,455 SH   SOLE   3,296,455 0 0
UR-ENERGY INC COM 91688R108   107,620 64,589 SH   SOLE   64,589 0 0
URANIUM ENERGY CORP COM 916896103   2,264,547 272,674 SH   SOLE   272,674 0 0
URANIUM RTY CORP COM 91702V101   865,687 301,633 SH   SOLE   301,633 0 0
VALE S A SPONSORED ADS 91912E105   924,318 68,577 SH   SOLE   68,577 0 0
VANECK MERK GOLD TR GOLD TRUST 921078101   348,640 19,488 SH   SOLE   19,488 0 0
VANECK ETF TRUST GOLD MINERS ETF 92189F106   275,047 10,221 SH   SOLE   10,221 0 0
VANGUARD SCOTTSDALE FDS SHRT TRM CORP BD 92206C409   5,007,444 36,300 SH   SOLE   36,300 0 0
VISHAY INTERTECHNOLOGY INC COM 928298108   10,382,400 420,000 SH   SOLE   420,000 0 0
VIZSLA SILVER CORP COM NEW 92859G202   18,070,462 15,053,155 SH   SOLE   15,053,155 0 0
VOX ROYALTY CORP COM 92919F103   42,006 20,795 SH   SOLE   20,795 0 0
WESTERN COPPER & GOLD CORP COM 95805V108   94,868 69,500 SH   SOLE   69,500 0 0
WESTLAKE CORPORATION COM 960413102   11,843,650 95,000 SH   SOLE   95,000 0 0
WHEATON PRECIOUS METALS CORP COM 962879102   37,398,648 799,533 SH   SOLE   799,533 0 0
ANGLOGOLD ASHANTI PLC COM SHS G0378L100   14,035,263 891,500 SH   SOLE   891,500 0 0
LIFEZONE METALS LIMITED W EXP 07/05/202 G5568L117   767,951 632,493 SH   SOLE   632,493 0 0
METALS ACQUISITION LIMITED ORD SHS G60409110   17,970,000 1,500,000 SH   SOLE   1,500,000 0 0