The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete. | |||||||||||||||||
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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 |
| ALCOA CORP | COM | 013872106 | 2,889 | 32,084 | SH | SOLE | 32,084 | 0 | 0 | ||
| ARCH RESOURCES INC | CL A | 03940R107 | 47,738 | 347,490 | SH | SOLE | 347,490 | 0 | 0 | ||
| BARCLAYS BANK PLC | CALL | 06747R907 | 2,570 | 100,000 | SH | Call | SOLE | 100,000 | 0 | 0 | |
| CENTERRA GOLD INC | COM | 152006102 | 68,772 | 6,997,483 | SH | SOLE | 6,997,483 | 0 | 0 | ||
| CF INDS HLDGS INC | COM | 125269100 | 4,610 | 44,732 | SH | SOLE | 44,732 | 0 | 0 | ||
| ENETI INC | COM | Y2294C107 | 6,102 | 960,992 | SH | SOLE | 960,992 | 0 | 0 | ||
| HUDBAY MINERALS INC | COM | 443628102 | 33,550 | 4,273,919 | SH | SOLE | 4,273,919 | 0 | 0 | ||
| HYCROFT MINING HOLDING CORP | *W EXP 10/06/202 | 44862P133 | 90 | 128,100 | SH | SOLE | 128,100 | 0 | 0 | ||
| NOBLE CORP NEW | SHS | G6610J209 | 35,099 | 1,001,410 | SH | SOLE | 1,001,410 | 0 | 0 | ||
| OASIS PETROLEUM INC | COM NEW | 674215207 | 69,878 | 477,635 | SH | SOLE | 477,635 | 0 | 0 | ||
| OCCIDENTAL PETE CORP | COM | 674599105 | 31,207 | 550,000 | SH | SOLE | 550,000 | 0 | 0 | ||
| PETROLEO BRASILEIRO SA PETRO | SPONSORED ADR | 71654V408 | 17,760 | 1,200,000 | SH | SOLE | 1,200,000 | 0 | 0 | ||
| RAYONIER ADVANCED MATLS INC | COM | 75508B104 | 26,601 | 4,048,809 | SH | SOLE | 4,048,809 | 0 | 0 | ||
| SIBANYE STILLWATER LTD | CALL | 82575P907 | 16,230 | 1,000,000 | SH | Call | SOLE | 1,000,000 | 0 | 0 | |
| SIBANYE STILLWATER LTD | SPONSORED ADR | 82575P107 | 89,036 | 5,485,875 | SH | SOLE | 5,485,875 | 0 | 0 | ||
| TIDEWATER INC NEW | COM | 88642R109 | 7,699 | 354,140 | SH | SOLE | 354,140 | 0 | 0 | ||
| TRANSOCEAN LTD | REG SHS | H8817H100 | 604 | 132,085 | SH | SOLE | 132,085 | 0 | 0 | ||
| TURQUOISE HILL RES LTD | COM | 900435207 | 13,577 | 451,968 | SH | SOLE | 451,968 | 0 | 0 | ||
| VALARIS LIMITED | CL A | G9460G101 | 35,649 | 685,954 | SH | SOLE | 685,954 | 0 | 0 | ||
| VANECK ETF TRUST | VANECK RUSSIA ET | 92189F403 | 3,882 | 687,020 | SH | SOLE | 687,020 | 0 | 0 | ||
| WHITING PETE CORP NEW | COM NEW | 966387508 | 18,904 | 231,924 | SH | SOLE | 231,924 | 0 | 0 | ||