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
ADVANSIX INC COM 00773T101 3,389,341 170,490 SH SOLE 170,490 0 0
ALAMOS GOLD INC COM CL A 011532108 13,628,849 449,204 SH SOLE 449,204 0 0
ALLIED GOLD CORP COM NEW 01921D204 2,025,231 85,234 SH SOLE 85,234 0 0
APPIAN CORP CL A 03782L101 19,222,260 839,400 SH SOLE 839,400 0 0
BARRICK MNG CORP COM SHS 06849F108 411,376 11,200 SH SOLE 11,200 0 0
BLACK STONE MINERALS L P COM UNIT 09225M101 10,629,452 760,877 SH SOLE 760,877 0 0
CANADIAN NAT RES LTD MED TER COM 136385101 21,028,457 532,366 SH SOLE 532,366 0 0
CORE NATURAL RESOURCES INC COM SHS 218937100 13,555,388 169,400 SH SOLE 169,400 0 0
DARLING INGREDIENTS INC COM 237266101 23,204,815 424,841 SH SOLE 424,841 0 0
ESTABLISHMENT LABS HLDGS INC COM G31249108 62,046,036 723,063 SH SOLE 723,063 0 0
FLUTTER ENTMT PLC SHS G3643J108 12,450,938 121,976 SH SOLE 121,976 0 0
HILTON GRAND VACATIONS INC COM 43283X105 147,091,933 2,808,706 SH SOLE 2,808,706 0 0
HUDBAY MINERALS INC COM 443628102 7,493,577 317,389 SH SOLE 317,389 0 0
IAMGOLD CORP COM 450913108 37,646,631 2,375,300 SH SOLE 2,375,300 0 0
KINROSS GOLD CORP COM 496902404 4,117,793 174,335 SH SOLE 174,335 0 0
MAXCYTE INC COM 57777K106 4,145,947 3,370,689 SH SOLE 3,370,689 0 0
MGM RESORTS INTERNATIONAL COM 552953101 45,225,296 945,938 SH SOLE 945,938 0 0
NACCO INDS INC CL A 629579103 4,630,626 92,520 SH SOLE 92,520 0 0
ORLA MNG LTD NEW COM 68634K106 7,736,154 790,319 SH SOLE 790,319 0 0
OSISKO DEVELOPMENT CORP COM NEW 68828E809 2,706,000 1,100,000 SH SOLE 1,100,000 0 0
S&P GLOBAL INC COM 78409V104 5,701,640 14,000 SH SOLE 14,000 0 0
TREKOR METALS LTD COM 89472Y107 14,126,078 2,053,209 SH SOLE 2,053,209 0 0
VERSABANK NEW COM 92512J106 4,709,889 202,925 SH SOLE 202,925 0 0
WARRIOR MET COAL INC COM 93627C101 14,121,840 174,000 SH SOLE 174,000 0 0