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
ACTIVISION BLIZZARD INC COM 00507V109 34,709 583,348 SH   SOLE   583,348 0 0
AGNICO EAGLE MINES LTD COM 008474108 3,979 100,000 SH   SOLE   100,000 0 0
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102 11,272 58,000 SH   SOLE   58,000 0 0
ALIO GOLD INC COM 01627X108 2,787 5,526,793 SH   SOLE   5,526,793 0 0
ALPHABET INC CAP STK CL A 02079K305 1,330 1,145 SH   SOLE   1,145 0 0
AMERICAS GOLD AND SILVER COR COM 03062D100 2,232 1,449,493 SH   SOLE   1,449,493 0 0
ANGLOGOLD ASHANTI LTD SPONS ADR 035128206 73,179 4,399,156 SH   SOLE   4,399,156 0 0
APERGY CORP COM 03755L104 80 13,863 SH   SOLE   13,863 0 0
APPLE INC COM 037833100 518 2,036 SH   SOLE   2,036 0 0
APTIV PLC SHS G6095L109 3,408 69,278 SH   SOLE   69,278 0 0
ARCOSA INC COM 039653100 316 8,000 SH   SOLE   8,000 0 0
ASANKO GOLD INC COM 04341Y105 21,599 26,791,260 SH   SOLE   26,791,260 0 0
B2GOLD CORP COM 11777Q209 1,075 353,600 SH   SOLE   353,600 0 0
BARRICK GOLD CORPORATION COM 067901108 20 3,027,208 SH   SOLE   1,076 0 0
BENEFYTT TECHNOLOGIES INC COM CL A 08182C106 24,554 1,099,700 SH   SOLE   1,099,700 0 0
BLACKBERRY LTD COM 09228F103 1,377 335,000 SH   SOLE   335,000 0 0
BOOKING HLDGS INC COM 09857L108 815 606 SH   SOLE   606 0 0
BRISTOL MYERS SQUIBB CO COM 110122108 40,718 730,902 SH   SOLE   730,902 0 0
BRISTOL MYERS SQUIBB CO RIGHT 99/99/9999 110122157 19,215 5,030,801 SH   SOLE   5,030,801 0 0
CEMEX SAB DE CV SPON ADR NEW 151290889 2,762 1,300,000 SH   SOLE   1,300,000 0 0
CENTENE CORP DEL COM 15135B101 155,556 2,619,271 SH   SOLE   2,619,271 0 0
CHECK POINT SOFTWARE TECH LT ORD M22465104 25,393 252,342 SH   SOLE   252,342 0 0
COMPANIA CERVECERIAS UNIDAS SPONSORED ADR 204429104 4,695 350,000 SH   SOLE   350,000 0 0
CIGNA CORP NEW COM 125523100 200,178 1,131,057 SH   SOLE   1,131,057 0 0
CISCO SYS INC COM 17275R102 258 6,557 SH   SOLE   6,557 0 0
DELPHI TECHNOLOGIES PLC SHS G2709G107 855 106,270 SH   SOLE   106,270 0 0
DEUTSCHE BANK AG NAMEN AKT D18190898 684 106,500 SH   SOLE   106,500 0 0
DIANA SHIPPING INC COM Y2066G104 249 170,000 SH   SOLE   170,000 0 0
DOW INC COM 260557103 1,641 56,126 SH   SOLE   56,126 0 0
DRDGOLD LIMITED SPON ADR REPSTG 26152H301 25,669 4,735,966 SH   SOLE   4,735,966 0 0
DUPONT DE NEMOURS INC COM 26614N102 19,869 582,582 SH   SOLE   582,582 0 0
EHEALTH INC COM 28238P109 189,177 1,347,694 SH   SOLE   1,347,694 0 0
EQUINOX GOLD CORP COM 29446Y502 23,178 3,491,915 SH   SOLE   3,491,915 0 0
EXXON MOBIL CORP COM 30231G102 100,648 2,652,161 SH   SOLE   2,652,161 0 0
FACEBOOK INC CL A 30303M102 19,797 118,696 SH   SOLE   118,696 0 0
FOOT LOCKER INC COM 344849104 61,074 2,767,315 SH   SOLE   2,767,315 0 0
FORTUNA SILVER MINES INC COM 349915108 13,759 5,978,683 SH   SOLE   5,978,683 0 0
FREEPORT-MCMORAN INC CL B 35671D857 55,077 8,165,564 SH   SOLE   8,165,564 0 0
GENERAL ELECTRIC CO COM 369604103 914 115,310 SH   SOLE   115,310 0 0
GENERAL MTRS CO COM 37045V100 38,031 1,829,758 SH   SOLE   1,829,758 0 0
GOLD FIELDS LTD NEW SPONS ADR 38059T106 65,167 13,704,890 SH   SOLE   13,704,890 0 0
GREAT PANTHER MINING LIMITED COM 39115V101 1,828 6,106,676 SH   SOLE   6,106,676 0 0
HARMONY GOLD MNG LTD SPONSORED ADR 413216300 5,937 2,729,785 SH   SOLE   2,729,785 0 0
HUMANA INC COM 444859102 1,571 5,002 SH   SOLE   5,002 0 0
IAMGOLD CORP COM 450913108 57,782 25,403,502 SH   SOLE   25,403,502 0 0
IMV INC COM 44974L103 11,546 6,801,225 SH   SOLE   6,801,225 0 0
JEFFERIES FINL GROUP INC COM 47233W109 2,230 163,062 SH   SOLE   163,062 0 0
JPMORGAN CHASE & CO COM 46625H100 20,943 232,378 SH   SOLE   232,378 0 0
KINROSS GOLD CORP COM NO PAR 496902404 169,931 42,616,178 SH   SOLE   4,021,845 0 0
LIVENT CORP COM 53814L108 13,101 2,497,806 SH   SOLE   2,497,806 0 0
M & T BK CORP COM 55261F104 8,155 78,885 SH   SOLE   78,885 0 0
MARSH & MCLENNAN COS INC COM 571748102 294 3,400 SH   SOLE   3,400 0 0
MATTEL INC COM 577081102 88 10,000 SH   SOLE   10,000 0 0
MICROSOFT CORP COM 594918104 2,089 13,252 SH   SOLE   13,252 0 0
MOHAWK INDS INC COM 608190104 1,128 14,800 SH   SOLE   14,800 0 0
NATIONAL OILWELL VARCO INC COM 637071101 49,600 5,050,941 SH   SOLE   5,050,941 0 0
NEWMONT GOLDCORP CORPORATION COM 651639106 137,462 3,041,602 SH   SOLE   3,041,602 0 0
NEXSTAR MEDIA GROUP INC CL A 65336K103 18,260 315,719 SH   SOLE   315,719 0 0
PERFORMANCE SHIPPING INC COM Y67305105 316 550,000 SH   SOLE   550,000 0 0
PHILIP MORRIS INTL INC COM 718172109 1,787 24,500 SH   SOLE   24,500 0 0
PLATINUM GROUP METALS LTD COM 72765Q882 180 138,421 SH   SOLE   118,421 0 0
RESTORBIO INC COM 76133L103 313 300,000 SH   SOLE   300,000 0 0
SAFE BULKERS INC COM Y7388L103 403 351,668 SH   SOLE   351,668 0 0
SEACOR HOLDINGS INC COM 811904101 616 23,000 SH   SOLE   23,000 0 0
SPDR GOLD TRUST GOLD SHS 78463V107 650 4,390 SH   SOLE   4,390 0 0
STEALTHGAS INC SHS Y81669106 397 200,000 SH   SOLE   200,000 0 0
SYNCHRONY FINL COM 87165B103 59,687 3,708,452 SH   SOLE   3,708,452 0 0
TENARIS S A SPONSORED ADR 88031M109 164 13,566 SH   SOLE   13,566 0 0
US BANCORP DEL COM NEW 902973304 1,413 41,000 SH   SOLE   41,000 0 0
VALARIS PLC SHS CLASS A G9402V109 80 176,868 SH   SOLE   176,868 0 0
VANECK VECTORS ETF TRUST GOLD MINERS ETF 92189F106 630 27,302 SH   SOLE   27,302 0 0
VANECK VECTORS ETF TRUST JR GOLD MINERS E 92189F791 247 8,784 SH   SOLE   8,784 0 0
WALGREENS BOOTS ALLIANCE INC COM 931427108 1,052 23,000 SH   SOLE   23,000 0 0
WALMART INC COM 931142103 264 2,328 SH   SOLE   2,328 0 0
DISNEY WALT CO COM DISNEY 254687106 233,062 2,411,327 SH   SOLE   2,411,327 0 0
WELLS FARGO CO NEW COM 949746101 1,764 61,500 SH   SOLE   61,500 0 0
WHEATON PRECIOUS METALS CORP COM 962879102 126,966 4,613,589 SH   SOLE   3,842,014 0 0
YAMANA GOLD INC COM 98462Y100 19,695 7,150,863 SH   SOLE   7,150,863 0 0