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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
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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 PLATINUM ETF TRUST PHYSCL PLATM SHS 003260106   282,002 3,083 SH   SOLE   3,083 0 0
ABRDN SILVER ETF TRUST PHYSCL SILVR SHS 003264108   1,117,470 40,139 SH   SOLE   40,139 0 0
ADAM NAT RES FD INC COM 00548F105   755,574 32,002 SH   SOLE   32,002 0 0
AERSALE CORPORATION COM 00810F106   2,422,000 350,000 SH   SOLE   350,000 0 0
AGNICO EAGLE MINES LTD COM 008474108   73,343,154 1,121,298 SH   SOLE   1,121,298 0 0
ALAMOS GOLD INC NEW COM CL A 011532108   38,620,169 2,463,021 SH   SOLE   2,463,021 0 0
ALPHABET INC CAP STK CL A 02079K305   250,274 1,374 SH   SOLE   1,374 0 0
AMAZON COM INC COM 023135106   473,463 2,450 SH   SOLE   2,450 0 0
APPLE INC COM 037833100   7,041,448 33,432 SH   SOLE   33,432 0 0
ARIS MNG CORP COM 04040Y109   77,550 20,625 SH   SOLE   20,625 0 0
ARTISAN PARTNERS ASSET MGMT CL A 04316A108   15,484,298 375,195 SH   SOLE   375,195 0 0
AVINO SILVER & GOLD MINES LT COM 053906103   9,000 10,000 SH   SOLE   10,000 0 0
BARRICK GOLD CORP COM 067901108   1,303,175 78,128 SH   SOLE   78,128 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702   33,788,808 83,060 SH   SOLE   83,060 0 0
BHP GROUP LTD SPONSORED ADS 088606108   937,760 16,426 SH   SOLE   16,426 0 0
BROOKFIELD ASSET MANAGMT LTD CL A LMT VTG SHS 113004105   811,302 21,322 SH   SOLE   21,322 0 0
B2GOLD CORP COM 11777Q209   2,102,682 778,771 SH   SOLE   778,771 0 0
BUCKLE INC COM 118440106   9,789,100 265,000 SH   SOLE   265,000 0 0
CF INDS HLDGS INC COM 125269100   13,327,475 179,809 SH   SOLE   179,809 0 0
CME GROUP INC COM 12572Q105   878,016 4,466 SH   SOLE   4,466 0 0
CAL MAINE FOODS INC COM NEW 128030202   9,777,600 160,000 SH   SOLE   160,000 0 0
CAMECO CORP COM 13321L108   3,962,914 80,547 SH   SOLE   80,547 0 0
CHEMOURS CO COM 163851108   422,014 18,698 SH   SOLE   18,698 0 0
CHENIERE ENERGY INC COM NEW 16411R208   922,753 5,278 SH   SOLE   5,278 0 0
CIRRUS LOGIC INC COM 172755100   14,153,664 110,870 SH   SOLE   110,870 0 0
COEUR MNG INC COM NEW 192108504   8,848,830 1,574,525 SH   SOLE   1,574,525 0 0
CONTANGO ORE INC COM 21077F100   7,510,018 415,607 SH   SOLE   415,607 0 0
CORTEVA INC COM 22052L104   1,477,363 27,389 SH   SOLE   27,389 0 0
DARLING INGREDIENTS INC COM 237266101   217,082 5,907 SH   SOLE   5,907 0 0
DENISON MINES CORP COM 248356107   2,413,188 1,206,746 SH   SOLE   1,206,746 0 0
EMX RTY CORP COM 26873J107   4,182,482 2,322,203 SH   SOLE   2,322,203 0 0
ELDORADO GOLD CORP NEW COM 284902509   7,249,461 490,186 SH   SOLE   490,186 0 0
ENDEAVOUR SILVER CORP COM 29258Y103   3,124,161 888,202 SH   SOLE   888,202 0 0
ENCORE ENERGY CORP COM NEW 29259W700   104,788 26,596 SH   SOLE   26,596 0 0
ENERGY FUELS INC COM NEW 292671708   229,547 37,879 SH   SOLE   37,879 0 0
EQUINOX GOLD CORP COM 29446Y502   42,098,284 8,061,195 SH   SOLE   8,061,195 0 0
ERO COPPER CORP COM 296006109   6,835,069 319,698 SH   SOLE   319,698 0 0
EXXON MOBIL CORP COM 30231G102   28,101,022 244,102 SH   SOLE   244,102 0 0
FMC CORP COM NEW 302491303   230,085 3,998 SH   SOLE   3,998 0 0
FRP HLDGS INC COM 30292L107   8,109,377 284,340 SH   SOLE   284,340 0 0
FEDERATED HERMES INC CL B 314211103   19,406,927 590,235 SH   SOLE   590,235 0 0
FIRST MAJESTIC SILVER CORP COM 32076V103   3,193,842 539,395 SH   SOLE   539,395 0 0
FORTUNA MNG CORP COM NEW 349942102   6,264,880 1,281,081 SH   SOLE   1,281,081 0 0
FRANCO NEV CORP COM 351858105   22,272,972 187,919 SH   SOLE   187,919 0 0
FREEPORT-MCMORAN INC CL B 35671D857   738,914 15,204 SH   SOLE   15,204 0 0
FURY GOLD MINES LIMITED COM 36117T100   336,536 868,579 SH   SOLE   868,579 0 0
GATOS SILVER INC COM 368036109   36,996,166 3,545,698 SH   SOLE   3,545,698 0 0
GOLD FIELDS LTD SPONSORED ADR 38059T106   22,401,703 1,503,470 SH   SOLE   1,503,470 0 0
GOLD ROYALTY CORP COMMON SHARES 38071H106   163,709 116,106 SH   SOLE   116,106 0 0
GOLDMINING INC COM 38149E101   98,340 110,000 SH   SOLE   110,000 0 0
GRAYSCALE BITCOIN TR BTC SHS REP COM UT 389637109   1,110,373 20,856 SH   SOLE   20,856 0 0
HECLA MNG CO COM 422704106   13,674,206 2,819,424 SH   SOLE   2,819,424 0 0
HELMERICH & PAYNE INC COM 423452101   19,959,002 552,269 SH   SOLE   552,269 0 0
HUDBAY MINERALS INC COM 443628102   556,596 61,500 SH   SOLE   61,500 0 0
I-80 GOLD CORP COM 44955L106   19,030,174 18,033,503 SH   SOLE   18,033,503 0 0
IAMGOLD CORP COM 450913108   13,819,112 3,684,293 SH   SOLE   3,684,293 0 0
INTEGRA RES CORP COM 45826T509   634,552 686,178 SH   SOLE   686,178 0 0
INTERCONTINENTAL EXCHANGE IN COM 45866F104   391,779 2,862 SH   SOLE   2,862 0 0
INTERNATIONAL TOWER HILL MIN COM 46050R102   12,635,645 25,455,139 SH   SOLE   25,455,139 0 0
ISHARES TR CORE US AGGBD ET 464287226   413,379 4,259 SH   SOLE   4,259 0 0
ISHARES SILVER TR ISHARES 46428Q109   6,125,846 230,555 SH   SOLE   230,555 0 0
ISHARES TR 0-3 MNTH TREASRY 46436E718   302,533 3,004 SH   SOLE   3,004 0 0
DAKOTA GOLD CORP COM 46655E100   401,005 157,257 SH   SOLE   157,257 0 0
DAKOTA GOLD CORP W EXP 03/15/202 46655E118   9,032 10,639 SH   SOLE   10,639 0 0
KENNEDY-WILSON HOLDINGS INC COM 489398107   8,371,779 861,294 SH   SOLE   861,294 0 0
KINROSS GOLD CORP COM 496902404   17,992,717 2,161,942 SH   SOLE   2,161,942 0 0
LARGO INC COM 517097101   452,278 244,643 SH   SOLE   244,643 0 0
LITHIUM AMERICAS ARGENTINA C COM SHS 53681K100   560,928 175,290 SH   SOLE   175,290 0 0
MAG SILVER CORP COM 55903Q104   29,122,353 2,493,845 SH   SOLE   2,493,845 0 0
MARCUS & MILLICHAP INC COM 566324109   5,516,000 175,000 SH   SOLE   175,000 0 0
METALLA RTY & STREAMING LTD COM NEW 59124U605   80,990 29,133 SH   SOLE   29,133 0 0
NVR INC COM 62944T105   258,011 34 SH   SOLE   34 0 0
NEW PAC METALS CORP COM 64782A107   1,260,547 837,617 SH   SOLE   837,617 0 0
NEWMONT CORP COM 651639106   13,048,564 311,637 SH   SOLE   311,637 0 0
NEXGEN ENERGY LTD COM 65340P106   3,834,060 549,655 SH   SOLE   549,655 0 0
NOVAGOLD RES INC COM NEW 66987E206   6,986,269 2,019,153 SH   SOLE   2,019,153 0 0
NOVO-NORDISK A S ADR 670100205   335,011 2,347 SH   SOLE   2,347 0 0
NUCOR CORP COM 670346105   26,762,786 169,299 SH   SOLE   169,299 0 0
NUTRIEN LTD COM 67077M108   1,892,223 37,168 SH   SOLE   37,168 0 0
OCCIDENTAL PETE CORP COM 674599105   205,226 3,256 SH   SOLE   3,256 0 0
ORLA MNG LTD NEW COM 68634K106   787,900 205,250 SH   SOLE   205,250 0 0
OSISKO GOLD ROYALTIES LTD COM 68827L101   53,717,933 3,446,917 SH   SOLE   3,446,917 0 0
OSISKO DEVELOPMENT CORP W EXP 05/27/202 68828E239   5,874 12,498 SH   SOLE   12,498 0 0
OSISKO DEVELOPMENT CORP COM NEW 68828E809   1,634,034 876,619 SH   SOLE   876,619 0 0
PAN AMERN SILVER CORP COM 697900108   58,778,865 2,956,792 SH   SOLE   2,956,792 0 0
PARAMOUNT GOLD NEV CORP COM 69924M109   431,054 1,077,636 SH   SOLE   1,077,636 0 0
QUANTA SVCS INC COM 74762E102   693,666 2,730 SH   SOLE   2,730 0 0
RELIANCE INC COM 759509102   10,498,656 36,760 SH   SOLE   36,760 0 0
RIO TINTO PLC SPONSORED ADR 767204100   344,221 5,221 SH   SOLE   5,221 0 0
ROYAL GOLD INC COM 780287108   5,850,903 46,747 SH   SOLE   46,747 0 0
SPDR GOLD TR GOLD SHS 78463V107   769,091 3,577 SH   SOLE   3,577 0 0
SPDR SER TR BLOOMBERG 1-3 MO 78468R663   24,674,858 268,848 SH   SOLE   268,848 0 0
SSR MINING IN COM 784730103   59,645 13,225 SH   SOLE   13,225 0 0
SANDSTORM GOLD LTD COM NEW 80013R206   14,191,200 2,608,207 SH   SOLE   2,608,207 0 0
RADIUS RECYCLING INC CL A 806882106   4,993,290 327,000 SH   SOLE   327,000 0 0
SCOTTS MIRACLE-GRO CO CL A 810186106   274,879 4,225 SH   SOLE   4,225 0 0
SEABRIDGE GOLD INC COM 811916105   5,067,162 370,136 SH   SOLE   370,136 0 0
SIGMA LITHIUM CORPORATION COM 826599102   4,651,811 386,663 SH   SOLE   386,663 0 0
SILVERCORP METALS INC COM 82835P103   3,487,013 1,040,696 SH   SOLE   1,040,696 0 0
SILVERCREST METALS INC COM 828363101   66,355,430 8,125,535 SH   SOLE   8,125,535 0 0
SITIO ROYALTIES CORP CLASS A COM 82983N108   6,769,832 286,736 SH   SOLE   286,736 0 0
SKEENA RES LTD NEW COM 83056P715   4,027,967 750,089 SH   SOLE   750,089 0 0
SMART SAND INC COM 83191H107   1,582,500 750,000 SH   SOLE   750,000 0 0
SOCIEDAD QUIMICA Y MINERA DE SPON ADR SER B 833635105   379,953 9,324 SH   SOLE   9,324 0 0
SOLARIS RES INC COM NEW 83419D201   7,194,030 2,578,437 SH   SOLE   2,578,437 0 0
SPROTT INC COM NEW 852066208   60,083,918 1,451,653 SH   SOLE   1,451,653 0 0
SPROTT PHYSICAL GOLD TR UNIT 85207H104   33,869,038 1,875,362 SH   SOLE   1,875,362 0 0
SPROTT PHYSICAL SILVER TR TR UNIT 85207K107   14,564,311 1,466,698 SH   SOLE   1,466,698 0 0
SPROTT PHYSICAL PLAT PALLAD UNIT 85207Q104   830,450 85,000 SH   SOLE   85,000 0 0
SPROTT FOCUS TR INC COM 85208J109   105,792,130 14,137,840 SH   SOLE   14,137,840 0 0
SPROTT FDS TR URANIUM MINERS E 85208P303   576,699 11,712 SH   SOLE   11,712 0 0
SPROTT FDS TR ENERGY TRANSITIN 85208P402   416,924 24,310 SH   SOLE   24,310 0 0
SPROTT PHYSICAL GOLD & SILVE TR UNIT 85208R101   24,509,995 1,111,435 SH   SOLE   1,111,435 0 0
SPROTT ETF TRUST GOLD MINERS ETF 85210B102   4,904,160 183,883 SH   SOLE   183,883 0 0
STEEL DYNAMICS INC COM 858119100   11,836,300 91,400 SH   SOLE   91,400 0 0
TRX GOLD CORPORATION COM 87283P109   9,441 23,975 SH   SOLE   23,975 0 0
TESLA INC COM 88160R101   445,230 2,250 SH   SOLE   2,250 0 0
TEXAS PACIFIC LAND CORPORATI COM 88262P102   5,083,359 6,923 SH   SOLE   6,923 0 0
THOR INDS INC COM 885160101   5,607,000 60,000 SH   SOLE   60,000 0 0
TRILOGY METALS INC NEW COM 89621C105   650,981 1,278,943 SH   SOLE   1,278,943 0 0
TRIPLE FLAG PRECIOUS METAL COM 89679M104   20,366,994 1,313,323 SH   SOLE   1,313,323 0 0
UR-ENERGY INC COM 91688R108   79,428 56,734 SH   SOLE   56,734 0 0
URANIUM ENERGY CORP COM 916896103   1,506,641 250,689 SH   SOLE   250,689 0 0
URANIUM RTY CORP COM 91702V101   688,743 306,108 SH   SOLE   306,108 0 0
VALE S A SPONSORED ADS 91912E105   639,216 57,226 SH   SOLE   57,226 0 0
VANECK MERK GOLD TR GOLD TRUST 921078101   437,700 19,488 SH   SOLE   19,488 0 0
VANGUARD SCOTTSDALE FDS SHRT TRM CORP BD 92206C409   2,604,167 33,700 SH   SOLE   33,700 0 0
VERISK ANALYTICS INC COM 92345Y106   324,538 1,204 SH   SOLE   1,204 0 0
VISHAY INTERTECHNOLOGY INC COM 928298108   7,136,000 320,000 SH   SOLE   320,000 0 0
VIZSLA SILVER CORP COM NEW 92859G608   28,169,756 15,859,662 SH   SOLE   15,859,662 0 0
VOX ROYALTY CORP COM 92919F103   117,282 42,340 SH   SOLE   42,340 0 0
WESTERN COPPER & GOLD CORP COM 95805V108   54,970 47,800 SH   SOLE   47,800 0 0
WESTLAKE CORPORATION COM 960413102   9,413,300 65,000 SH   SOLE   65,000 0 0
WHEATON PRECIOUS METALS CORP COM 962879102   34,459,962 657,322 SH   SOLE   657,322 0 0
ANGLOGOLD ASHANTI PLC COM SHS G0378L100   2,274,416 90,506 SH   SOLE   90,506 0 0
LIFEZONE METALS LIMITED ORD SHS G5568L109   2,691,840 350,500 SH   SOLE   350,500 0 0
LIFEZONE METALS LIMITED W EXP 07/05/202 G5568L117   338,572 752,383 SH   SOLE   752,383 0 0
METALS ACQUISITION LIMITED ORD SHS G60409110   20,535,000 1,500,000 SH   SOLE   1,500,000 0 0