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

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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 (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
Diana Shipping Inc WRT Y2066G138 8,925 59,502 SH Call SOLE 59,502 0 0
Alibaba Group Holding Ltd CV BOND 01609WBG6 85,606,550 72,500,000 PRN SOLE 72,500,000 0 0
Arrowhead Pharmaceuticals Inc CV BOND 04280AAC4 1,807,860 1,500,000 PRN SOLE 1,500,000 0 0
Blue Moon Metals Inc ORD 09570Q509 816,568 128,800 SH SOLE 128,800 0 0
Blue Moon Metals Inc ORD 09570Q806 633,981 100,000 SH SOLE 100,000 0 0
Cameco Corp ORD 13321L108 2,252,198 22,115 SH SOLE 22,115 0 0
Celcuity Inc CV BOND 15102KAA8 4,510,000 2,000,000 PRN SOLE 2,000,000 0 0
Core Scientific Inc WRT 21874A114 19 1 SH Call SOLE 1 0 0
HIVE Digital Technologies Ltd ORD 433921103 3,640,000 1,000,000 SH SOLE 1,000,000 0 0
Hudbay Minerals Inc ORD 443628102 2,651,007 112,352 SH SOLE 112,352 0 0
iShares iBoxx $ High Yield Corporate Bond ETF ORD 464288513 15,901,315 198,841 SH SOLE 198,841 0 0
IsoEnergy Ltd (Pre-Reincorporation) ORD 46500E867 1,501,055 150,700 SH SOLE 150,700 0 0
Lithium Argentina AG CV BOND 53680QAA6 31,272,683 31,509,000 PRN SOLE 31,509,000 0 0
McEwen Inc CV BOND 58039PAB3 19,238,800 10,000,000 PRN SOLE 10,000,000 0 0
Nexgen Energy Ltd ORD 65340P106 1,237,480 131,787 SH SOLE 131,787 0 0
Ramaco Resources Inc CV BOND 75134PAB1 14,775,000 20,000,000 PRN SOLE 20,000,000 0 0
Uranium Energy Corp ORD 916896103 1,520,287 142,616 SH SOLE 142,616 0 0
USA Rare Earth Inc Class A 91733P107 2,112,682 97,900 SH SOLE 97,900 0 0