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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

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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
AGNICO EAGLE MINES LTD COM 008474108 12,410,400 80,000 SH SOLE 80,000 0 0
ALAMOS GOLD INC COM CL A 011532108 13,653,000 450,000 SH SOLE 450,000 0 0
AMERICAS GOLD AND SILVER COR COM NEW 03062D803 91,545,806 19,392,000 SH SOLE 19,392,000 0 0
B2GOLD CORP COM 11777Q209 7,480,000 2,000,000 SH SOLE 2,000,000 0 0
EQUINOX GOLD CORP COM 29446Y502 47,747,576 4,900,000 SH SOLE 4,900,000 0 0
INTEGRA RES CORP COM 45826T509 5,813,874 2,562,526 SH SOLE 2,562,526 0 0
METALLA RTY & STREAMING LTD COM NEW 59124U605 22,830,000 3,000,000 SH SOLE 3,000,000 0 0
NEW FOUND GOLD CORP COM 64440N103 25,189,053 16,312,500 SH SOLE 16,312,500 0 0
ORLA MNG LTD NEW COM 68634K106 68,530,000 7,000,000 SH SOLE 7,000,000 0 0
VANECK MERK GOLD ETF GOLD SHS 921078101 1,149,750 29,794 SH SOLE 29,794 0 0
VERSAMET ROYALTIES CORP COM NEW 92528V200 17,185,968 1,400,000 SH SOLE 1,400,000 0 0