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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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AGNICO EAGLE MINES LTD COM 008474108   1,618,294 29,504 SH   SOLE   29,504 0 0
EMX RTY CORP COM 26873J107   619,421 385,125 SH   SOLE   385,125 0 0
ELDORADO GOLD CORP NEW COM 284902509   14,935,941 1,151,576 SH   SOLE   1,151,576 0 0
ERO COPPER CORP COM 296006109   575,824 36,400 SH   SOLE   36,400 0 0
KOSMOS ENERGY LTD COM 500688106   42,072,492 6,270,118 SH   SOLE   6,270,118 0 0
SPROTT PHYSICAL GOLD TR UNIT 85207H104   2,097,551 131,673 SH   SOLE   131,673 0 0
B2GOLD CORP COM 11777Q209   18,711,517 5,914,125 SH   SOLE   5,914,125 0 0
GALIANO GOLD INC COM 36352H100   32,761,820 35,563,436 SH   SOLE   35,563,436 0 0
I-80 GOLD CORP COM 44955L106   13,617,543 7,739,954 SH   SOLE   7,739,954 0 0
INTEGRA RES CORP COM 45826T509   7,407,859 7,057,866 SH   SOLE   7,057,866 0 0
OSISKO DEVELOPMENT CORP COM NEW 68828E809   4,279,114 1,471,935 SH   SOLE   1,471,935 0 0