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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
OMB APPROVAL
OMB Number: 3235-0006
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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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AGNICO EAGLE MINES LTD COM 008474108   8,002,290 157,000 SH   SOLE   157,000 0 0
ALCOA CORP COM 013872106   4,256,000 100,000 SH   SOLE   100,000 0 0
BORR DRILLING LTD SHS G1466R173   3,850,708 508,009 SH   SOLE   508,009 0 0
CAMECO CORP COM 13321L108   26,277,297 1,004,100 SH   SOLE   1,004,100 0 0
DENISON MINES CORP COM 248356107   15,118,474 13,870,160 SH   SOLE   13,870,160 0 0
EQT CORP COM 26884L109   3,350,550 105,000 SH   SOLE   105,000 0 0
FREEPORT-MCMORAN INC CL B 35671D857   7,511,076 183,600 SH   SOLE   183,600 0 0
MOSAIC CO NEW COM 61945C103   5,285,514 115,203 SH   SOLE   115,203 0 0
NEWMONT CORP COM 651639106   7,107,900 145,000 SH   SOLE   145,000 0 0
NEXGEN ENERGY LTD COM 65340P106   23,642,973 6,173,100 SH   SOLE   6,173,100 0 0
SANDRIDGE ENERGY INC COM NEW 80007P869   3,102,473 215,300 SH   SOLE   215,300 0 0
SIBANYE STILLWATER LTD SPONSORED ADR 82575P107   3,120,000 375,000 SH   SOLE   375,000 0 0
TIDEWATER INC NEW COM 88642R109   13,007,170 295,081 SH   SOLE   295,081 0 0
TRANSOCEAN LTD REG SHS H8817H100   8,089,799 1,271,981 SH   SOLE   1,271,981 0 0
UR-ENERGY INC COM 91688R108   5,795,242 5,467,209 SH   SOLE   5,467,209 0 0
VALARIS LIMITED CL A G9460G101   4,057,011 62,358 SH   SOLE   62,358 0 0