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
Expires: July 31, 2015
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
ALCOA CORP COM 013872106 142,071,232 4,814,342 SH SOLE 4,814,342 0 0
ALPHABET INC CAP STK CL A 02079K305 120,365 683 SH SOLE 683 0 0
AMAZON COM INC COM 023135106 258,880 1,180 SH SOLE 1,180 0 0
ANTERIS TECHNOLOGIES GLOBAL COM 03675P102 26,099,759 2,812,000 SH SOLE 2,812,000 0 0
BOEING CO COM 097023105 83,812 400 SH SOLE 400 0 0
BOSTON SCIENTIFIC CORP COM 101137107 128,892 1,200 SH SOLE 1,200 0 0
CENOVUS ENERGY INC COM 15135U109 90,917,183 6,685,087 SH SOLE 6,685,087 0 0
CRH PLC ORD G25508105 118,932,408 1,295,560 SH SOLE 1,295,560 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 518,554 10,544 SH SOLE 10,544 0 0
DENISON MINES CORP COM 248356107 551,935 301,620 SH SOLE 301,620 0 0
EAGLE MATLS INC COM 26969P108 724,564 3,585 SH SOLE 3,585 0 0
ELDORADO GOLD CORP NEW COM 284902509 152,419,397 7,493,579 SH SOLE 7,493,579 0 0
EQUINOX GOLD CORP COM 29446Y502 137,475,974 23,908,865 SH SOLE 23,908,865 0 0
FLUTTER ENTMT PLC SHS G3643J108 136,331,650 481,009 SH SOLE 481,009 0 0
HUDBAY MINERALS INC COM 443628102 159,863,941 15,054,087 SH SOLE 15,054,087 0 0
IAMGOLD CORP COM 450913108 693,179 94,310 SH SOLE 94,310 0 0
ING GROEP N.V. SPONSORED ADR 456837103 523,219 23,832 SH SOLE 23,832 0 0
LLOYDS BANKING GROUP PLC SPONSORED ADR 539439109 135,948,775 129,076,191 SH SOLE 129,076,191 0 0
NATWEST GROUP PLC SPONS ADR 639057207 72,912,126 10,382,579 SH SOLE 10,382,579 0 0
NEXGEN ENERGY LTD COM 65340P106 234,683,477 33,816,063 SH SOLE 33,816,063 0 0
NUCOR CORP COM 670346105 658,193 5,081 SH SOLE 5,081 0 0
RYANAIR HOLDINGS PLC SPONSORED ADR 783513203 34,351,597 595,657 SH SOLE 595,657 0 0
SALESFORCE INC COM 79466L302 176,703 648 SH SOLE 648 0 0
SOLARIS RES INC COM NEW 83419D201 22,606,147 4,929,623 SH SOLE 4,929,623 0 0
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS 874039100 2,894,316 12,779 SH SOLE 12,779 0 0
TASEKO MINES LTD COM 876511106 65,148,164 20,681,607 SH SOLE 20,681,607 0 0
UBER TECHNOLOGIES INC COM 90353T100 260,494 2,792 SH SOLE 2,792 0 0
WARRIOR MET COAL INC COM 93627C101 90,791,292 1,981,045 SH SOLE 1,981,045 0 0
XENON PHARMACEUTICALS INC COM 98420N105 40,565 1,296 SH SOLE 1,296 0 0
ZILLOW GROUP INC CL C CAP STK 98954M200 26,651,363 380,462 SH SOLE 380,462 0 0