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
AMBEV SA-ADR SPONSORED ADR 02319V103 6,134 2,330,703 SH SOLE 750,656 0 1,580,047
ACCENTURE PLC-CL A SHS CL A G1151C101 15,733 66,321 SH SOLE 37,500 0 28,821
AGNICO EAGLE MINES LTD COM 008474108 84,084 447,528 SH SOLE 299,940 0 147,588
FIRST MAJESTIC SILVER CORP COM 32076V103 316 34,166 SH SOLE 0 0 34,166
ALGONQUIN POWER & UTILITIES COM 015857105 4,307 703,450 SH SOLE 700,000 0 3,450
AVINO SILVER & GOLD MINES COM 053906103 36 10,000 SH SOLE 0 0 10,000
ASML HOLDING NV-NY REG SHS N Y REGISTRY SHS N07059210 3,681 2,961 SH SOLE 2,500 0 461
GRUPO AEROPORTUARIO SUR-ADR SPON ADR SER B 40051E202 947 2,924 SH SOLE 0 0 2,924
ANGLOGOLD ASHANTI PLC COM SHS G0378L100 26,889 272,740 SH SOLE 246,868 0 25,872
BARRICK MINING CORP COM 06849F108 61,364 1,665,226 SH SOLE 1,115,392 0 549,834
BCE INC COM NEW 05534B760 5,074 207,621 SH SOLE 150,000 0 57,621
BHP GROUP LTD-SPON ADR SPONSORED ADS 088606108 2,956 58,819 SH SOLE 0 0 58,819
BANK OF NOVA SCOTIA COM 064149107 10,526 171,686 SH SOLE 62,000 0 109,686
BP PLC-SPONS ADR SPONSORED ADR 055622104 13,984 362,210 SH SOLE 160,000 0 202,210
B2GOLD CORP COM 11777Q209 36,773 8,141,222 SH SOLE 6,826,229 0 1,314,993
BRITISH AMERICAN TOB-SP ADR SPONSORED ADR 110448107 35,229 653,402 SH SOLE 350,000 0 303,402
COEUR MINING INC COM NEW 192108504 317 19,145 SH SOLE 0 0 19,145
SPROTT PHYSICAL GOLD AND SIL TR UNIT 85208R101 8,248 274,028 SH SOLE 0 0 274,028
DAKOTA GOLD CORP COM 46655E100 18,103 3,534,049 SH SOLE 2,924,658 0 609,391
DIAGEO PLC-SPONSORED ADR SPON ADR NEW 25243Q205 698 7,499 SH SOLE 0 0 7,499
ENDEAVOUR SILVER CORP COM 29258Y103 160 32,520 SH SOLE 0 0 32,520
ENBRIDGE INC COM 29250N105 526 11,615 SH SOLE 0 0 11,615
EQUINOR ASA-SPON ADR SPONSORED ADR 29446M102 10,244 320,131 SH SOLE 110,000 0 210,131
EQUINOX GOLD CORP COM 29446Y502 32,596 2,292,608 SH SOLE 2,051,487 0 241,121
ENERGY TRANSFER LP COM UT LTD PTN 29273V100 260 14,360 SH SOLE 0 0 14,360
FRANCO-NEVADA CORP COM 351858105 57,190 249,758 SH SOLE 155,506 0 94,252
BLACKROCK FLTNG RT INC STRAT COM 09255X100 420 31,965 SH SOLE 0 0 31,965
FORTUNA MINING CORP COM NEW 349942102 43,925 4,485,635 SH SOLE 3,584,980 0 900,655
VANECK GOLD MINERS ETF GOLD MINERS ETF 92189F106 903 14,455 SH SOLE 0 0 14,455
VANECK JUNIOR GOLD MINERS JUNIOR GOLD MINE 92189F791 205 3,035 SH SOLE 0 0 3,035
GRAB HOLDINGS LTD - CL A CLASS A ORD G4124C109 2,408 653,429 SH SOLE 625,000 0 28,429
GSK PLC-SPON ADR SPONSORED ADR 37733W204 10,102 208,254 SH SOLE 110,760 0 97,494
HALEON PLC-ADR SPON ADS 405552100 912 87,897 SH SOLE 0 0 87,897
IAMGOLD CORP COM 450913108 23,873 1,269,611 SH SOLE 1,224,377 0 45,234
INTL BUSINESS MACHINES CORP COM 459200101 293 1,011 SH SOLE 0 0 1,011
IVANHOE ELECTRIC INC / US COM 46578C108 5,318 440,079 SH SOLE 264,503 0 175,576
INFOSYS LTD-SP ADR SPONSORED ADR 456788108 950 67,613 SH SOLE 55,000 0 12,613
JANUS HENDERSON AAA CLO ETF HENDRSON AAA CL 47103U845 507 9,996 SH SOLE 0 0 9,996
KINROSS GOLD CORP COM 496902404 19,802 780,313 SH SOLE 440,000 0 340,313
JSC KASPI.KZ ADR SPONSORED ADS 48581R205 2,365 31,680 SH SOLE 30,000 0 1,680
METALLA ROYALTY & STREAMING COM NEW 59124U605 37,013 5,746,211 SH SOLE 4,472,031 0 1,274,180
NEWMONT CORP COM 651639106 29,803 348,491 SH SOLE 160,749 0 187,742
NUTRIEN LTD COM 67077M108 6,863 103,259 SH SOLE 45,000 0 58,259
NU HOLDINGS LTD/CAYMAN ISL-A ORD SHS CL A G6683N103 3,302 233,649 SH SOLE 135,000 0 98,649
NOVO-NORDISK A/S-SPONS ADR ADR 670100205 22,375 467,452 SH SOLE 290,000 0 177,452
NOVARTIS AG-SPONSORED ADR SPONSORED ADR 66987V109 5,749 41,588 SH SOLE 20,000 0 21,588
OMEGA HEALTHCARE INVESTORS COM 681936100 213 5,800 SH SOLE 0 0 5,800
OR ROYALTIES INC COM SHS 68390D106 38,632 1,026,669 SH SOLE 860,385 0 166,284
ORLA MINING LTD COM 68634K106 13,823 872,845 SH SOLE 617,123 0 255,722
PAN AMERICAN SILVER CORP COM 697900108 62,912 1,252,785 SH SOLE 872,455 0 380,330
SPROTT PHYSICAL GOLD TRUST UNIT 85207H104 1,308 46,436 SH SOLE 0 0 46,436
PHILIP MORRIS INTERNATIONAL COM 718172109 8,093 46,324 SH SOLE 16,500 0 29,824
SS SPDR ICE PREF SEC ETF ICE PFD SEC ETF 78464A292 604 19,030 SH SOLE 0 0 19,030
SPROTT PHYSICAL SILVER TRUST TR UNIT 85207K107 6,576 285,584 SH SOLE 0 0 285,584
ROYAL GOLD INC COM 780287108 41,948 165,315 SH SOLE 122,680 0 42,635
RIO TINTO PLC-SPON ADR SPONSORED ADR 767204100 2,986 49,203 SH SOLE 0 0 49,203
SHELL PLC-ADR SPON ADS 780259305 12,485 161,659 SH SOLE 35,000 0 126,659
SK TELECOM CO LTD-SPON ADR SPONSORED ADR 78440P306 6,513 223,557 SH SOLE 200,000 0 23,557
SANOFI-ADR SPONSORED ADR 80105N105 2,206 45,668 SH SOLE 0 0 45,668
TRIPLE FLAG PRECIOUS MET COM 89679M104 17,776 520,062 SH SOLE 428,693 0 91,369
TELKOM INDONESIA PERSERO-ADR SPONSORED ADR 715684106 6,671 380,834 SH SOLE 100,000 0 280,834
TAIWAN SEMICONDUCTOR-SP ADR SPONSORED ADS 874039100 751 2,827 SH SOLE 0 0 2,827
TOTALENERGIES SE ACT F92124100 13,049 177,877 SH SOLE 60,000 0 117,877
UNILEVER PLC-SPONSORED ADR SPON ADR NEW 904767803 4,008 66,552 SH SOLE 35,555 0 30,997
GLOBAL X URANIUM ETF GLOBAL X URANIUM 37954Y871 245 6,310 SH SOLE 0 0 6,310
ISHARES BROAD USD HIGH YIELD BROAD USD HIGH 46435U853 608 16,210 SH SOLE 0 0 16,210
VALE SA-SP ADR SPONSORED ADS 91912E105 6,591 498,725 SH SOLE 250,000 0 248,725
VANGUARD EMERG MKTS GOV BND EM MK GOV BD ETF 921946885 673 10,300 SH SOLE 0 0 10,300
VIZSLA SILVER CORP COM NEW 92859G608 72 23,885 SH SOLE 0 0 23,885
WHEATON PRECIOUS METALS CORP COM 962879102 37,895 294,402 SH SOLE 226,200 0 68,202
WESTERN COPPER AND GOLD CORP COM 95805V108 5,999 2,421,617 SH SOLE 1,800,000 0 621,617
WIPRO LTD-ADR SPON ADR 1 SH 97651M109 78 35,573 SH SOLE 0 0 35,573
ELEMENTAL ROYALTY CORP COM NEW 28620K106 18,320 962,859 SH SOLE 854,462 0 108,397
FMC CORP COM NEW 302491303 2,738 158,933 SH SOLE 150,000 0 8,933
HECLA MINING CO COM 422704106 213 8,698 SH SOLE 0 0 8,698
CEMEX SAB-SPONS ADR PART CER SPON ADR NEW 151290889 154 13,058 SH SOLE 0 0 13,058
ITAU UNIBANCO H-SPON PRF ADR SPON ADR REP PFD 465562106 3,567 424,856 SH SOLE 400,000 0 24,856
UNITED MICROELECTRON-SP ADR SPON ADR NEW 910873405 171 18,552 SH SOLE 0 0 18,552
BANCO BRADESCO-ADR SP ADR PFD NEW 059460303 3,866 1,057,281 SH SOLE 1,000,000 0 57,281
VODAFONE GROUP PLC-SP ADR SPONSORED ADR 92857W308 239 15,864 SH SOLE 0 0 15,864
SPDR GOLD SHARES GOLD SHS 78463V107 698 1,379 SH SOLE 0 0 1,379
CIA DE MINAS BUENAVENTUR-ADR SPONSORED ADR 204448104 683 15,532 SH SOLE 0 0 15,532
ISHARES INTERNATIONAL TREASU INTL TREA BD ETF 464288117 1,974 47,677 SH SOLE 0 0 47,677
GOLD FIELDS LTD-SPONS ADR SPONSORED ADR 38059T106 3,117 64,497 SH SOLE 40,000 0 24,497
ISHARES SILVER TRUST ISHARES 46428Q109 471 5,095 SH SOLE 0 0 5,095
ISHARES GOLD TRUST ISHARES NEW 464285204 683 7,752 SH SOLE 0 0 7,752
STATE STREET SPDR BLOOMBERG BLOOMBERG INTL T 78464A516 1,238 55,934 SH SOLE 0 0 55,934
VANECK MERK GOLD ETF GOLD TRUST 921078101 17,441 386,587 SH SOLE 0 0 386,587
WISDOMTREE FLOATING RATE TRE FLOATING RAT TREA 97717Y527 2,329 46,266 SH SOLE 0 0 46,266
FIRST TRUST EMERGING MARKETS EME MRK BD ETF 33739P202 3,311 114,220 SH SOLE 0 0 114,220
ALAMOS GOLD INC-CLASS A COM CL A 011532108 421 9,477 SH SOLE 0 0 9,477
DOW INC COM 260557103 203 4,876 SH SOLE 0 0 4,876
TELEFONICA BRASIL-ADR NEW ADR 87936R205 169 10,269 SH SOLE 0 0 10,269
I-80 GOLD CORP COM 44955L106 22 66,672 SH SOLE 50,000 0 16,672
MERCADOLIBRE INC COM 58733R102 519 299 SH SOLE 250 0 49
MAYFAIR GOLD CORP COM NEW 57808L305 422 136,500 SH SOLE 136,500 0 0