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
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
AGNICO EAGLE MINES LTD COM 008474108 5,626 91,315 SH   SOLE   91,315 0 0
ALAMOS GOLD INC NEW COM CL A 011532108 3,853 539,462 SH   SOLE   539,462 0 0
ALEXCO RESOURCE CORP COM 01535p106 925 322,000 SH   SOLE   322,000 0 0
ALMADEN MINERALS LTD COM CL B 020283305 933 1,442,500 SH   SOLE   1,442,500 0 0
AMAZON COM INC COM 023135106 222 120 SH   SOLE   120 0 0
AMERICAS GOLD AND SILVER CORP COM 03062d100 4,046 994 SH   SOLE   994 0 0
AMGEN INC COM 031162100 3,616 15,000 SH   SOLE   15,000 0 0
ANGLOGOLD ASHANTI LTD SPONSORED ADR 035128206 3,925 147,585 SH   SOLE   147,585 0 0
APPLE INC COM 037833100 5,171 17,610 SH   SOLE   17,610 0 0
ARCOSA INC COM 039653100 4,900 110,000 SH   SOLE   110,000 0 0
ARTISAN PARTNERS ASSET MGMT CL A CL A 04316a108 6,787 210,000 SH   SOLE   210,000 0 0
AURYN RES INC COM 05208w108 130 90,000 SH   SOLE   90,000 0 0
AVINO SILVER & GOLD MINES LT COM 053906103 1,530 2,041,630 SH   SOLE   2,041,630 0 0
B2GOLD CORP COM 11777q209 10,900 2,345,097 SH   SOLE   2,345,097 0 0
BARRICK GOLD CORPORATION COM 067901108 10,936 588,285 SH   SOLE   588,285 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 9,806 43,292 SH   SOLE   43,292 0 0
BIOGEN INC COM 09062x103 10,386 35,000 SH   SOLE   35,000 0 0
BLACKSTONE MTG TR INC CL A COM CL A 09257w100 305 8,205 SH   SOLE   8,205 0 0
BUCKLE INC COM 118440106 5,949 220,000 SH   SOLE   220,000 0 0
CAL MAINE FOODS INC COM NEW 128030202 4,275 100,000 SH   SOLE   100,000 0 0
CAMECO CORP COM 13321l108 292 32,769 SH   SOLE   32,769 0 0
CIRRUS LOGIC INC COM 172755100 7,417 90,000 SH   SOLE   90,000 0 0
COEUR MNG INC COM NEW 192108504 11,347 1,111,510 SH   SOLE   1,111,510 0 0
COMPANIA DE MINAS BUENAVENTU SPONSORED ADR 204448104 3,031 155,294 SH   SOLE   155,294 0 0
CORTEVA INC COM 22052l104 289 9,770 SH   SOLE   9,770 0 0
DENISON MINES CORP COM 248356107 561 1,110,896 SH   SOLE   1,110,896 0 0
DIREXION SHS ETF TR DAILY BEAR 3X 25460e489 174 31,000 SH   SOLE   31,000 0 0
EMX RTY CORP COM 26873j107 8,317 5,066,243 SH   SOLE   5,066,243 0 0
ENCANA CORP COM 292505104 1,323 282,158 SH   SOLE   282,158 0 0
EQUINOX GOLD CORP COM 29446y502 709 92,059 SH   SOLE   92,059 0 0
EXXON MOBIL CORP COM 30231g102 5,942 85,150 SH   SOLE   85,150 0 0
FEDERATED INVS INC PA CL B 314211103 4,563 140,000 SH   SOLE   140,000 0 0
FIRST MAJESTIC SILVER CORP COM 32076v103 4,294 272,239 SH   SOLE   272,239 0 0
FORTUNA SILVER MINES INC COM 349915108 18,129 3,578,860 SH   SOLE   3,578,860 0 0
FRANCO NEVADA CORP COM 351858105 8,007 77,508 SH   SOLE   77,508 0 0
FRANKLIN RES INC COM 354613101 9,093 350,000 SH   SOLE   350,000 0 0
FREEPORT-MCMORAN INC CL B CL B 35671d857 211 16,100 SH   SOLE   16,100 0 0
FRP HLDGS INC COM 30292l107 3,736 75,000 SH   SOLE   75,000 0 0
GENTEX CORP COM 371901109 4,347 150,000 SH   SOLE   150,000 0 0
GOLD FIELDS LTD NEW SPONSORED ADR 38059t106 3,114 419,108 SH   SOLE   419,108 0 0
GOLD RESOURCE CORP COM 38068t105 2,808 390,200 SH   SOLE   390,200 0 0
GRAFTECH INTL LTD COM 384313508 228 19,580 SH   SOLE   19,580 0 0
GREAT PANTHER MINING LIMITED COM 39115v101 481 725,800 SH   SOLE   725,800 0 0
HECLA MNG CO COM 422704106 1,844 419,200 SH   SOLE   419,200 0 0
HELMERICH & PAYNE INC COM 423452101 12,460 274,275 SH   SOLE   274,275 0 0
IAMGOLD CORP COM 450913108 2,724 645,656 SH   SOLE   645,656 0 0
ICAD INC COM NEW 44934s206 527 55,000 SH   SOLE   55,000 0 0
INDUSTRIAS BACHOCO S A B DE SPON ADR B 456463108 3,659 70,369 SH   SOLE   70,369 0 0
INNOVATIVE INDL PPTYS INC COM 45781v101 1 37,437 SH   SOLE   37,437 0 0
INTERNATIONAL TOWER HILL MINES COM 46050r102 18 32,900 SH   SOLE   32,900 0 0
INVESCO DB MLTI SECTR CMMTY AGRICULTURE FD 46140h106 228 13,750 SH   SOLE   13,750 0 0
ISHARES GOLD TRUST ISHARES 464285105 382 26,336 SH   SOLE   26,336 0 0
ISHARES TR 20 YR TR BD ETF 464287432 311 2,298 SH   SOLE   2,298 0 0
ISHARES TR 1 3 YR TREAS BD 464287457 796 9,412 SH   SOLE   9,412 0 0
KENNEDY-WILSON HLDGS INC COM 489398107 10,441 468,206 SH   SOLE   468,206 0 0
KINROSS GOLD CORP COM 496902404 9,419 1,689,783 SH   SOLE   1,689,783 0 0
KIRKLAND LAKE GOLD LTD COM 49741e100 4,802 88,696 SH   SOLE   88,696 0 0
LAM RESEARCH CORP COM 512807108 5,263 18,000 SH   SOLE   18,000 0 0
MAG SILVER CORP COM 55903q104 18,628 1,424,339 SH   SOLE   1,424,339 0 0
MARATHON PETE CORP COM 56585a102 464 7,705 SH   SOLE   7,705 0 0
MARCUS & MILLICHAP INC COM 566324109 3,911 105,000 SH   SOLE   105,000 0 0
MAVERIX METALS INC COM NEW 57776f405 1,393 244,101 SH   SOLE   244,101 0 0
MCEWEN MNG INC COM 58039p107 628 381,485 SH   SOLE   381,485 0 0
NEW GOLD INC CDA COM 644535106 199 221,605 SH   SOLE   221,605 0 0
NEWMONT GOLDCORP CORPORATION COM 651639106 610 13,793 SH   SOLE   13,793 0 0
NEXGEN ENERGY LTD COM 65340p106 1,193 736,261 SH   SOLE   736,261 0 0
NORTHERN DYNASTY MINERALS LT COM NEW 66510m204 11 25,000 SH   SOLE   25,000 0 0
NUTRIEN LTD COM 67077m108 404 8,439 SH   SOLE   8,439 0 0
OSISKO GOLD ROYALTIES LTD COM 68827l101 770 79,291 SH   SOLE   79,291 0 0
PAN AMERICAN SILVER CORP COM 697900108 29,122 1,097,769 SH   SOLE   1,097,769 0 0
PANHANDLE OIL AND GAS INC CL A 698477106 483 43,096 SH   SOLE   43,096 0 0
PLATINUM GROUP METALS LTD COM 72765q882 3,488 2,046,472 SH   SOLE   2,046,472 0 0
PRETIUM RES INC COM 74139c102 8,499 644,458 SH   SOLE   644,458 0 0
RELIANCE STEEL & ALUMINUM CO COM 759509102 7,784 65,000 SH   SOLE   65,000 0 0
ROYAL GOLD INC COM 780287108 3,500 28,632 SH   SOLE   28,632 0 0
SANDERSON FARMS INC COM 800013104 2,643 15,000 SH   SOLE   15,000 0 0
SANDSTORM GOLD LTD COM NEW 80013r206 19,679 2,641,523 SH   SOLE   2,641,523 0 0
SEABRIDGE GOLD INC COM 811916105 8,413 536,425 SH   SOLE   536,425 0 0
SILVERCORP METALS INC COM 82835p103 2,739 373,867 SH   SOLE   373,867 0 0
SILVERCREST METALS INC COM 828363101 19,626 2,297,212 SH   SOLE   2,297,212 0 0
SMART SAND INC COM 83191h107 2,016 800,000 SH   SOLE   800,000 0 0
SPDR GOLD TRUST GOLD SHS 78463v107 201 1,400 SH   SOLE   1,400 0 0
SPDR SERIES TRUST SPDR BLOOMBERG 78468r663 10,578 115,700 SH   SOLE   115,700 0 0
SPROTT ETF TR GOLD MINERS ETF 85210b102 265 9,900 SH   SOLE   9,900 0 0
SPROTT FOCUS TR INC COM 85208j109 238 32,340 SH   SOLE   32,340 0 0
SPROTT PHYSICAL GOLD & SILVE TR UNIT 85208r101 772 52,690 SH   SOLE   52,690 0 0
SPROTT PHYSICAL GOLD TRUST UNIT 85207h104 1,247 102,386 SH   SOLE   102,386 0 0
SPROTT PHYSICAL PLAT PALLAD UNIT 85207q104 452 31,436 SH   SOLE   31,436 0 0
SPROTT PHYSICAL SILVER TRUST TR UNIT 85207k107 806 123,220 SH   SOLE   123,220 0 0
SSR MNG INC COM 784730103 11,322 475,813 SH   SOLE   475,813 0 0
STAR BULK CARRIERS CORP SHS PAR y8162k204 707 59,839 SH   SOLE   59,839 0 0
TEXAS PAC LD TR SUB CTF PROP I T 882610108 695 890 SH   SOLE   890 0 0
THOR INDS INC COM 885160101 5,571,750 75,000 SH   SOLE   75,000 0 0
TRANSOCEAN LTD REG SHS h8817h100 87 12,700 SH   SOLE   12,700 0 0
TRILOGY METALS INC NEW COM 89621c105 1,413 543,209 SH   SOLE   543,209 0 0
TURQUOISE HILL RES LTD COM 900435108 74 100,000 SH   SOLE   100,000 0 0
URANIUM ENERGY CORP COM 916896103 501 527,642 SH   SOLE   527,642 0 0
VANECK VECTORS ETF TR GOLD MINERS GOLD MINERS ETF 92189f106 1,676 57,229 SH   SOLE   57,229 0 0
VANGUARD SCOTTSDALE FDS SHRT TRM CORP BD 92206c409 3,558 33,800 SH   SOLE   33,800 0 0
WESTERN DIGITAL CORP COM 958102105 11,425 180,000 SH   SOLE   180,000 0 0
WESTLAKE CHEM CORP COM 960413102 9,821 140,000 SH   SOLE   140,000 0 0
WHEATON PRECIOUS METALS CORP COM 962879102 41,038 996,069 SH   SOLE   996,069 0 0
YAMANA GOLD INC COM 98462y100 121 30,357 SH   SOLE   30,357 0 0