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 48,564 1,228,000 SH   SOLE   1,228,000 0 0
ALAMOS GOLD INC NEW COM CL A 011532108 52,717 10,500,269 SH   SOLE   10,500,269 0 0
ALEXCO RESOURCE CORP COM 01535P106 445 262,600 SH   SOLE   262,600 0 0
ALMADEN MINERALS LTD COM CL B 020283305 1,946 6,802,315 SH   SOLE   6,802,315 0 0
AMAZON COM INC COM 023135106 234 120 SH   SOLE   120 0 0
AMERICAS GOLD AND SILVER COR COM 03062D100 2,127 994 SH   SOLE   994 0 0
AMGEN INC COM 031162100 3,041 15,000 SH   SOLE   15,000 0 0
ANGLOGOLD ASHANTI LTD SPONSORED ADR 035128206 49,675 2,953,226 SH   SOLE   2,953,226 0 0
APPLE INC COM 037833100 1,426 5,610 SH   SOLE   5,610 0 0
ARCOSA INC COM 039653100 4,371 110,000 SH   SOLE   110,000 0 0
ARTISAN PARTNERS ASSET MGMT CL A 04316A108 6,017 280,000 SH   SOLE   280,000 0 0
AURYN RES INC COM 05208W108 85 90,000 SH   SOLE   90,000 0 0
AVINO SILVER & GOLD MINES LT COM 053906103 673 1,373,625 SH   SOLE   1,373,625 0 0
B2GOLD CORP COM 11777Q209 10,900 2,345,097 SH   SOLE   2,345,097 0 0
BARRICK GOLD CORPORATION COM 067901108 43,755 2,408,598 SH   SOLE   2,408,598 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 8,281 45,292 SH   SOLE   45,292 0 0
BIOGEN INC COM 09062X103 9,491 30,000 SH   SOLE   30,000 0 0
BLACKSTONE MTG TR INC COM CL A 09257W100 190 10,183 SH   SOLE   10,183 0 0
BUCKLE INC COM 118440106 3,976 290,000 SH   SOLE   290,000 0 0
CAL MAINE FOODS INC COM NEW 128030202 5,717 130,000 SH   SOLE   130,000 0 0
CAMECO CORP COM 13321L108 431 56,415 SH   SOLE   56,415 0 0
CIRRUS LOGIC INC COM 172755100 4,266 65,000 SH   SOLE   65,000 0 0
COMPANIA DE MINAS BUENAVENTU SPONSORED ADR 204448104 2,539 248,494 SH   SOLE   248,494 0 0
CORTEVA INC COM 22052L104 249 10,576 SH   SOLE   10,576 0 0
DENISON MINES CORP COM 248356107 408 1,110,896 SH   SOLE   1,110,896 0 0
ELDORADO GOLD CORP NEW COM 284902509 1,124 128,470 SH   SOLE   128,470 0 0
EMX RTY CORP COM 26873J107 3,006 2,210,379 SH   SOLE   2,210,379 0 0
EQUINOX GOLD CORP COM 29446Y502 2,113 318,751 SH   SOLE   318,751 0 0
EXXON MOBIL CORP COM 30231G102 4,981 131,177 SH   SOLE   131,177 0 0
FEDERATED HERMES INC CL B 314211103 4,762 250,000 SH   SOLE   250,000 0 0
FIRST MAJESTIC SILVER CORP COM 32076V103 4,813 554,939 SH   SOLE   554,939 0 0
FORTUNA SILVER MINES INC COM 349915108 9,880 3,119,215 SH   SOLE   3,119,215 0 0
FRANCO NEVADA CORP COM 351858105 88,467 891,611 SH   SOLE   891,611 0 0
FRANKLIN RESOURCES INC COM 354613101 6,342 380,000 SH   SOLE   380,000 0 0
FREEPORT-MCMORAN INC CL B 35671D857 302 44,700 SH   SOLE   44,700 0 0
FRP HLDGS INC COM 30292L107 3,225 75,000 SH   SOLE   75,000 0 0
GARMIN LTD SHS H2906T109 375 5,000 SH   SOLE   5,000 0 0
GENTEX CORP COM 371901109 2,438 110,000 SH   SOLE   110,000 0 0
GOLD FIELDS LTD NEW SPONSORED ADR 38059T106 51,642 10,648,065 SH   SOLE   10,648,065 0 0
GOLD RESOURCE CORP COM 38068T105 1,510 390,200 SH   SOLE   390,200 0 0
GOLD STD VENTURES CORP COM 380738104 3,662 7,361,100 SH   SOLE   7,361,100 0 0
GOLDEN STAR RES LTD CDA COM 38119T807 2,964 1,190,200 SH   SOLE   1,190,200 0 0
GRAFTECH INTL LTD COM 384313508 241 29,700 SH   SOLE   29,700 0 0
GREAT PANTHER MINING LIMITED COM 39115V101 672 1,581,900 SH   SOLE   1,581,900 0 0
HECLA MNG CO COM 422704106 1,792 699,700 SH   SOLE   699,700 0 0
HELMERICH & PAYNE INC COM 423452101 6,285 401,623 SH   SOLE   401,623 0 0
IAMGOLD CORP COM 450913108 6,698 2,971,793 SH   SOLE   2,971,793 0 0
ICAD INC COM NEW 44934S206 89 35,000 SH   SOLE   35,000 0 0
INDUSTRIAS BACHOCO S A B DE SPON ADR B 456463108 2,393 70,369 SH   SOLE   70,369 0 0
INTERNATIONAL TOWER HILL MIN COM 46050R102 11,819 29,973,969 SH   SOLE   29,973,969 0 0
ISHARES GOLD TRUST ISHARES 464285105 395 26,203 SH   SOLE   26,203 0 0
ISHARES SILVER TRUST ISHARES 46428Q109 502 38,474 SH   SOLE   38,474 0 0
ISHARES TR 1 3 YR TREAS BD 464287457 460 5,304 SH   SOLE   5,304 0 0
KENNEDY-WILSON HLDGS INC COM 489398107 6,707 499,803 SH   SOLE   499,803 0 0
KINROSS GOLD CORP COM 496902404 44,161 10,687,340 SH   SOLE   10,687,340 0 0
KIRKLAND LAKE GOLD LTD COM 49741E100 72,657 2,456,129 SH   SOLE   2,456,129 0 0
LAM RESEARCH CORP COM 512807108 3,600 15,000 SH   SOLE   15,000 0 0
MAG SILVER CORP COM 55903Q104 70,760 9,043,455 SH   SOLE   9,043,455 0 0
MARCUS & MILLICHAP INC COM 566324109 2,981 110,000 SH   SOLE   110,000 0 0
MAVERIX METALS INC COM NEW 57776F405 11,007 3,257,529 SH   SOLE   3,257,529 0 0
MCEWEN MNG INC COM 58039P107 352 378,485 SH   SOLE   378,485 0 0
METALLA RTY & STREAMING LTD COM NEW 59124U605 518 122,352 SH   SOLE   122,352 0 0
NEW GOLD INC CDA COM 644535106 118 230,353 SH   SOLE   230,353 0 0
NEWMONT CORP COM 651639106 48,530 1,083,112 SH   SOLE   1,083,112 0 0
NEXGEN ENERGY LTD COM 65340P106 725 686,171 SH   SOLE   686,171 0 0
NORTHERN DYNASTY MINERALS LT COM NEW 66510M204 10 25,000 SH   SOLE   25,000 0 0
NUTRIEN LTD COM 67077M108 254 7,482 SH   SOLE   7,482 0 0
OSISKO GOLD ROYALTIES LTD COM 68827L101 35,313 4,699,249 SH   SOLE   4,699,249 0 0
PAN AMERN SILVER CORP COM 697900108 85,052 5,714,215 SH   SOLE   5,714,215 0 0
PLATINUM GROUP METALS LTD COM 72765Q882 2,735 2,052,472 SH   SOLE   2,052,472 0 0
POWERSHARES DB MULTI-SECTOR AGRICULTURE FD 46140H106 193 13,750 SH   SOLE   13,750 0 0
PRETIUM RES INC COM 74139C102 1,777,535 225,035 SH   SOLE   225,035 0 0
RELIANCE STEEL & ALUMINUM CO COM 759509102 7,007 80,000 SH   SOLE   80,000 0 0
ROYAL GOLD INC COM 780287108 2,689 30,654 SH   SOLE   30,654 0 0
SANDERSON FARMS INC COM 800013104 6,166 50,000 SH   SOLE   50,000 0 0
SANDSTORM GOLD LTD COM NEW 80013R206 13,643 2,723,062 SH   SOLE   2,723,062 0 0
SEABRIDGE GOLD INC COM 811916105 6,311 557,255 SH   SOLE   557,255 0 0
SELECT SECTOR SPDR TR ENERGY 81369Y506 306 10,530 SH   SOLE   10,530 0 0
SIBANYE STILLWATER LTD SPONSORED ADR 82575P107 1,213 213,640 SH   SOLE   213,640 0 0
SILVERCORP METALS INC COM 82835P103 1,369 297,167 SH   SOLE   297,167 0 0
SILVERCREST METALS INC COM 828363101 22,154 3,631,869 SH   SOLE   3,631,869 0 0
SMART SAND INC COM 83191H107 1,040 1,000,000 SH   SOLE   1,000,000 0 0
SPDR GOLD TRUST GOLD SHS 78463V107 1,591 10,747 SH   SOLE   10,747 0 0
SPDR SER TR SPDR BLOOMBERG 78468R663 16,081 175,500 SH   SOLE   175,500 0 0
SPROTT ETF TR GOLD MINERS ETF 85210B102 236 11,030 SH   SOLE   11,030 0 0
SPROTT FOCUS TR INC COM 85208J109 121 23,926 SH   SOLE   23,926 0 0
SPROTT PHYSICAL GOLD & SILVE TR UNIT 85208R101 667 45,645 SH   SOLE   45,645 0 0
SPROTT PHYSICAL GOLD TRUST UNIT 85207H104 1,331 101,486 SH   SOLE   101,486 0 0
SPROTT PHYSICAL PLAT PALLAD UNIT 85207Q104 454 29,320 SH   SOLE   29,320 0 0
SPROTT PHYSICAL SILVER TR TR UNIT 85207K107 559 106,882 SH   SOLE   106,882 0 0
SSR MNG INC COM 784730103 5,179 338,030 SH   SOLE   338,030 0 0
STAR BULK CARRIERS CORP. SHS PAR Y8162K204 350 62,084 SH   SOLE   62,084 0 0
THOR INDS INC COM 885160101 2,742 65,000 SH   SOLE   65,000 0 0
TRANSOCEAN LTD REG SHS H8817H100 15 12,700 SH   SOLE   12,700 0 0
TRILOGY METALS INC NEW COM 89621C105 574 421,807 SH   SOLE   421,807 0 0
TURQUOISE HILL RES LTD COM 900435108 73 190,600 SH   SOLE   190,600 0 0
URANIUM ENERGY CORP COM 916896103 333 558,291 SH   SOLE   558,291 0 0
VANECK VECTORS ETF TR GOLD MINERS ETF 92189F106 1,386 60,176 SH   SOLE   60,176 0 0
VANGUARD SCOTTSDALE FDS SHRT TRM CORP BD 92206C409 3,751 33,700 SH   SOLE   33,700 0 0
WESTERN DIGITAL CORP. COM 958102105 7,283 175,000 SH   SOLE   175,000 0 0
WESTLAKE CHEM CORP COM 960413102 7,634 200,000 SH   SOLE   200,000 0 0
WHEATON PRECIOUS METALS CORP COM 962879102 106,239 3,611,251 SH   SOLE   3,611,251 0 0
YAMANA GOLD INC COM 98462Y100 460 167,150 SH   SOLE   167,150 0 0