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
ADAMS DIVERSIFIED EQUITY FD COM 006212104 202 10,390 SH   SOLE   10,390 0 0
ADAM NAT RES FD INC COM 00548F105 259 15,700 SH   SOLE   15,700 0 0
AEMETIS INC COM NEW 00770K202 134 10,900 SH   SOLE   10,900 0 0
AERSALE CORPORATION COM 00810F106 11,975 675,000 SH   SOLE   675,000 0 0
AGNICO EAGLE MINES LTD COM 008474108 38,591 725,915 SH   SOLE   725,915 0 0
ALAMOS GOLD INC NEW COM CL A 011532108 43,623 5,672,190 SH   SOLE   5,672,190 0 0
ALEXCO RESOURCE CORP COM 01535P106 81 46,355 SH   SOLE   46,355 0 0
ALMADEN MINERALS LTD COM CL B 020283305 20 66,300 SH   SOLE   66,300 0 0
AMAZON COM INC COM 023135106 400 120 SH   SOLE   120 0 0
ANGLOGOLD ASHANTI LIMITED SPONSORED ADR 035128206 5,396 257,195 SH   SOLE   257,195 0 0
APPHARVEST INC COM 03783T103 244 62,619 SH   SOLE   62,619 0 0
APPLE INC COM 037833100 433 2,440 SH   SOLE   2,440 0 0
ARCONIC CORPORATION COM 03966V107 268 8,127 SH   SOLE   8,127 0 0
ARTISAN PARTNERS ASSET MGMT CL A 04316A108 11,434 240,000 SH   SOLE   240,000 0 0
ATLAS CORP SHARES Y0436Q109 580 40,899 SH   SOLE   40,899 0 0
B2GOLD CORP COM 11777Q209 8,170 2,078,954 SH   SOLE   2,078,954 0 0
BARRICK GOLD CORP COM 067901108 8,404 442,302 SH   SOLE   442,302 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 12,795 42,792 SH   SOLE   42,792 0 0
BERRY CORP COM 08579X101 3,094 367,441 SH   SOLE   367,441 0 0
BHP GROUP LTD SPONSORED ADS 088606108 1,502 24,893 SH   SOLE   24,893 0 0
BRIGHAM MINERALS INC CL A COM 10918L103 748 35,489 SH   SOLE   35,489 0 0
BUCKLE INC COM 118440106 11,001 260,000 SH   SOLE   260,000 0 0
CAL MAINE FOODS INC COM NEW 128030202 9,802 265,000 SH   SOLE   265,000 0 0
CAMECO CORP COM 13321L108 1,696 77,772 SH   SOLE   77,772 0 0
CF INDS HLDGS INC COM 125269100 707 9,984 SH   SOLE   9,984 0 0
CHEMOURS CO COM 163851108 556 16,555 SH   SOLE   16,555 0 0
CHENIERE ENERGY INC COM NEW 16411R208 552 5,446 SH   SOLE   5,446 0 0
CME GROUP INC COM 12572Q105 1,005 4,399 SH   SOLE   4,399 0 0
COEUR MNG INC COM NEW 192108504 4,781 948,657 SH   SOLE   948,657 0 0
CONTANGO ORE INC COM 21077F100 7,106 263,200 SH   SOLE   263,200 0 0
CORE LABORATORIES N V COM N22717107 288 12,892 SH   SOLE   12,892 0 0
CORTEVA INC COM 22052L104 1,091 23,084 SH   SOLE   23,084 0 0
CORVUS GOLD INC COM 221013105 73,851 22,882,631 SH   SOLE   22,882,631 0 0
DENISON MINES CORP COM 248356107 5,287 3,840,772 SH   SOLE   3,840,772 0 0
DIREXION SHS ETF TR DLY JR GOLD 2X 25460G807 303 28,000 SH   SOLE   28,000 0 0
DIREXION SHS ETF TR 20YR TRES BULL 25459W540 428 15,200 SH   SOLE   15,200 0 0
EMX RTY CORP COM 26873J107 9,082 4,010,660 SH   SOLE   4,010,660 0 0
ENERGY FUELS INC COM NEW 292671708 161 21,109 SH   SOLE   21,109 0 0
EQUINOX GOLD CORP COM 29446Y502 35,312 5,217,638 SH   SOLE   5,217,638 0 0
ERO COPPER CORP COM 296006109 394 25,788 SH   SOLE   25,788 0 0
EXCELLON RES INC COM 30069C801 23 20,730 SH   SOLE   20,730 0 0
FEDERATED HERMES INC CL B 314211103 13,138 349,605 SH   SOLE   349,605 0 0
FIRST MAJESTIC SILVER CORP COM 32076V103 5,970 536,450 SH   SOLE   536,450 0 0
FORTUNA SILVER MINES INC COM 349915108 11,703 2,997,134 SH   SOLE   2,997,134 0 0
FRANCO NEV CORP COM 351858105 32,785 236,973 SH   SOLE   236,973 0 0
FRANKLIN RESOURCES INC COM 354613101 8,707 260,000 SH   SOLE   260,000 0 0
FREEPORT-MCMORAN INC CL B 35671D857 839 20,103 SH   SOLE   20,103 0 0
FRP HLDGS INC COM 30292L107 6,936 120,000 SH   SOLE   120,000 0 0
FURY GOLD MINES LIMITED COM 36117T100 9 14,592 SH   SOLE   14,592 0 0
GALIANO GOLD INC COM 36352H100 27 38,400 SH   SOLE   38,400 0 0
GATOS SILVER INC COM 368036109 15,073 1,452,081 SH   SOLE   1,452,081 0 0
GOLD FIELDS LTD SPONSORED ADR 38059T106 49,299 4,485,792 SH   SOLE   4,485,792 0 0
GOLD ROYALTY CORP COMMON SHARES 38071H106 8,239 1,674,677 SH   SOLE   1,674,677 0 0
GOLD ROYALTY CORP *W EXP 99/99/999 38071H114 239 238,650 SH   SOLE   238,650 0 0
GOLD STD VENTURES CORP COM 380738104 1,329 3,000,000 SH   SOLE   3,000,000 0 0
GOLDEN STAR RES LTD CDA COM 38119T807 1,398 364,979 SH   SOLE   364,979 0 0
GOLDMINING INC COM 38149E101 50 41,500 SH   SOLE   41,500 0 0
GRAFTECH INTL LTD COM 384313508 494 41,735 SH   SOLE   41,735 0 0
HECLA MNG CO COM 422704106 11,231 2,151,524 SH   SOLE   2,151,524 0 0
HELMERICH & PAYNE INC COM 423452101 11,891 501,750 SH   SOLE   501,750 0 0
HYCROFT MINING HOLDING CORP COM CL A 44862P109 265 434,874 SH   SOLE   434,874 0 0
HYCROFT MINING HOLDING CORP *W EXP 10/12/202 44862P125 5 28,563 SH   SOLE   28,563 0 0
ICAD INC COM NEW 44934S206 305 42,400 SH   SOLE   42,400 0 0
INDUSTRIAS BACHOCO SAB SPON ADR B 456463108 3,191 75,000 SH   SOLE   75,000 0 0
INGREDION INC COM 457187102 324 3,353 SH   SOLE   3,353 0 0
INTEGRA RES CORP COM NEW 45826T301 7,840 3,646,079 SH   SOLE   3,646,079 0 0
INTERNATIONAL TOWER HILL MIN COM 46050R102 19,765 27,086,520 SH   SOLE   27,086,520 0 0
INVESCO CURRENCYSHARES EURO EURO SHS 46138K103 5,510 52,100 SH Put SOLE   52,100 0 0
INVESCO EXCHANGE TRADED FD T WILDERHIL CLAN 46137V134 382 5,350 SH   SOLE   5,350 0 0
ISHARES TR JPMORGAN USD EMG 464288281 141,756 1,299,800 SH Put SOLE   1,299,800 0 0
ISHARES SILVER TR ISHARES 46428Q109 1,183 55,000 SH Call SOLE   55,000 0 0
ISHARES SILVER TR ISHARES 46428Q109 1,326 61,631 SH   SOLE   61,631 0 0
ISHARES TR US HOME CONS ETF 464288752 539 6,500 SH   SOLE   6,500 0 0
ISHARES TR 20 YR TR BD ETF 464287432 1,044 7,045 SH   SOLE   7,045 0 0
ISHARES TR 20 YR TR BD ETF 464287432 6,017 40,600 SH Put SOLE   40,600 0 0
ITERIS INC NEW COM 46564T107 40 10,000 SH   SOLE   10,000 0 0
KENNEDY-WILSON HOLDINGS INC COM 489398107 14,404 603,172 SH   SOLE   603,172 0 0
KINROSS GOLD CORP COM 496902404 1,778 306,000 SH Call SOLE   306,000 0 0
KINROSS GOLD CORP COM 496902404 47,951 8,253,212 SH   SOLE   8,253,212 0 0
KIRKLAND LAKE GOLD LTD COM 49741E100 17,704 422,038 SH   SOLE   422,038 0 0
MAG SILVER CORP COM 55903Q104 78,111 4,982,345 SH   SOLE   4,982,345 0 0
MARCUS & MILLICHAP INC COM 566324109 5,146 100,000 SH   SOLE   100,000 0 0
MAVERIX METALS INC COM NEW 57776F405 25,158 5,763,917 SH   SOLE   5,763,917 0 0
MCEWEN MNG INC COM 58039P107 9 10,325 SH   SOLE   10,325 0 0
METALLA RTY & STREAMING LTD COM NEW 59124U605 202 29,124 SH   SOLE   29,124 0 0
NEW GOLD INC CDA COM 644535106 20,767 13,853,631 SH   SOLE   13,853,631 0 0
NEWMONT CORP COM 651639106 48,347 779,535 SH   SOLE   779,535 0 0
NEXGEN ENERGY LTD COM 65340P106 4,099 935,305 SH   SOLE   935,305 0 0
NOVAGOLD RES INC COM NEW 66987E206 19,656 2,865,253 SH   SOLE   2,865,253 0 0
NUCOR CORP COM 670346105 10,844 95,000 SH   SOLE   95,000 0 0
NUTRIEN LTD COM 67077M108 2,015 26,790 SH   SOLE   26,790 0 0
ORLA MNG LTD NEW COM 68634K106 557 145,750 SH   SOLE   145,750 0 0
OSISKO GOLD ROYALTIES LTD COM 68827L101 63,698 5,199,936 SH   SOLE   5,199,936 0 0
PAN AMERN SILVER CORP COM 697900108 62,622 2,507,767 SH   SOLE   2,507,767 0 0
PERPETUA RESOURCES CORP COM 714266103 753 158,552 SH   SOLE   158,552 0 0
PRETIUM RES INC COM 74139C102 39,414 2,795,198 SH   SOLE   2,795,198 0 0
PROSHARES TR PSHS ULT SEMICDT 74347R669 705 13,355 SH   SOLE   13,355 0 0
QUANTA SVCS INC COM 74762E102 329 2,871 SH   SOLE   2,871 0 0
RELIANCE STEEL & ALUMINUM CO COM 759509102 12,167 75,000 SH   SOLE   75,000 0 0
RIO TINTO PLC SPONSORED ADR 767204100 243 3,636 SH   SOLE   3,636 0 0
ROYAL GOLD INC COM 780287108 11,906 113,165 SH   SOLE   113,165 0 0
SANDSTORM GOLD LTD COM NEW 80013R206 20,677 3,334,638 SH   SOLE   3,334,638 0 0
SCHLUMBERGER LTD COM STK 806857108 1,213 40,505 SH   SOLE   40,505 0 0
SCHNITZER STEEL INDS INC CL A 806882106 7,269 140,000 SH   SOLE   140,000 0 0
SCOTTS MIRACLE-GRO CO CL A 810186106 409 2,541 SH   SOLE   2,541 0 0
SEABRIDGE GOLD INC COM 811916105 32,364 1,962,551 SH   SOLE   1,962,551 0 0
SIBANYE STILLWATER LTD SPONSORED ADR 82575P107 39,829 3,176,194 SH   SOLE   3,176,194 0 0
SILVERCORP METALS INC COM 82835P103 3,446 920,252 SH   SOLE   920,252 0 0
SILVERCREST METALS INC COM 828363101 58,806 7,431,912 SH   SOLE   7,431,912 0 0
SKEENA RES LTD NEW COM 83056P715 12,273 1,176,874 SH   SOLE   1,176,874 0 0
SMART SAND INC COM 83191H107 1,602 900,000 SH   SOLE   900,000 0 0
SOCIEDAD QUIMICA Y MINERA DE SPON ADR SER B 833635105 485 9,625 SH   SOLE   9,625 0 0
SOLARIS OILFIELD INFRASTRUCT COM CL A 83418M103 76 11,560 SH   SOLE   11,560 0 0
SPDR GOLD TR GOLD SHS 78463V107 410 2,398 SH   SOLE   2,398 0 0
SPDR SER TR S&P REGL BKG 78464A698 496 7,000 SH   SOLE   7,000 0 0
SPDR SER TR BLOOMBERG 1-3 MO 78468R663 19,593 214,290 SH   SOLE   214,290 0 0
SPROTT ETF TRUST GOLD MINERS ETF 85210B102 216 7,908 SH   SOLE   7,908 0 0
SPROTT FOCUS TR INC COM 85208J109 1,009 117,354 SH   SOLE   117,354 0 0
SPROTT INC COM NEW 852066208 3,541 78,521 SH   SOLE   78,521 0 0
SPROTT PHYSICAL GOLD & SILVE TR UNIT 85208R101 1,099 61,954 SH   SOLE   61,954 0 0
SPROTT PHYSICAL GOLD TR UNIT 85207H104 3,062 213,238 SH   SOLE   213,238 0 0
SPROTT PHYSICAL PLAT PALLAD UNIT 85207Q104 892 63,970 SH   SOLE   63,970 0 0
SPROTT PHYSICAL SILVER TR TR UNIT 85207K107 2,626 327,483 SH   SOLE   327,483 0 0
SSR MNG INC COM 784730103 46,072 2,600,941 SH   SOLE   2,600,941 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 11,969 25,200 SH Put SOLE   25,200 0 0
TESLA INC COM 88160R101 555 525 SH   SOLE   525 0 0
TEXAS PACIFIC LAND CORPORATI COM 88262P102 1,741 1,394 SH   SOLE   1,394 0 0
THOR INDS INC COM 885160101 11,415 110,000 SH   SOLE   110,000 0 0
TRILOGY METALS INC NEW COM 89621C105 2,231 1,352,121 SH   SOLE   1,352,121 0 0
URANIUM ENERGY CORP COM 916896103 1,238 369,499 SH   SOLE   369,499 0 0
URANIUM RTY CORP COM 91702V101 4,714 1,291,391 SH   SOLE   1,291,391 0 0
UR-ENERGY INC COM 91688R108 17 14,022 SH   SOLE   14,022 0 0
VANECK ETF TRUST JUNIOR GOLD MINE 92189F791 423 10,100 SH Put SOLE   10,100 0 0
VANECK ETF TRUST GOLD MINERS ETF 92189F106 412 12,877 SH   SOLE   12,877 0 0
VANGUARD SCOTTSDALE FDS SHRT TRM CORP BD 92206C409 3,640 44,800 SH   SOLE   44,800 0 0
VISHAY INTERTECHNOLOGY INC COM 928298108 6,998 320,000 SH   SOLE   320,000 0 0
VISTA GOLD CORP COM NEW 927926303 8 10,600 SH   SOLE   10,600 0 0
WESTERN DIGITAL CORP. COM 958102105 11,086 170,000 SH   SOLE   170,000 0 0
WESTLAKE CHEM CORP COM 960413102 11,656 120,000 SH   SOLE   120,000 0 0
WHEATON PRECIOUS METALS CORP COM 962879102 52,823 1,230,397 SH   SOLE   1,230,397 0 0
YAMANA GOLD INC COM 98462Y100 3,923 929,539 SH   SOLE   929,539 0 0