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 10,768 256,081 SH   SOLE   256,081 0 0
ALAMOS GOLD INC NEW COM CL A 011532108 1,102 212,028 SH   SOLE   212,028 0 0
ALEXCO RESOURCE CORP COM 01535P106 521 390,000 SH   SOLE   390,000 0 0
ALMADEN MINERALS LTD COM CL B 020283305 2,300 2,746,718 SH   SOLE   2,746,718 0 0
AMERICAS SILVER CORP COM NEW 03063L705 984 300,000 SH   SOLE   300,000 0 0
AMGEN INC COM 031162100 3,239 19,000 SH   SOLE   19,000 0 0
APPLE INC COM 037833100 12,751 76,000 SH   SOLE   76,000 0 0
ARTISAN PARTNERS ASSET MGMT CL A 04316A108 6,210 186,500 SH   SOLE   186,500 0 0
ASANKO GOLD INC COM 04341Y105 100 100,479 SH   SOLE   100,479 0 0
AURYN RES INC COM 05208W108 323 245,500 SH   SOLE   245,500 0 0
B2GOLD CORP COM 11777Q209 10,903 3,986,744 SH   SOLE   3,986,744 0 0
BARRICK GOLD CORP COM 067901108 355 28,577 SH   SOLE   28,577 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 4,688 23,500 SH   SOLE   23,500 0 0
BLACK STONE MINERALS L P COM UNIT 09225M101 461 27,867 SH   SOLE   27,867 0 0
BUCKLE INC COM 118440106 6,567 296,500 SH   SOLE   296,500 0 0
CAL MAINE FOODS INC COM NEW 128030202 11,102 254,055 SH   SOLE   254,055 0 0
CAMECO CORP COM 13321L108 864 95,030 SH   SOLE   95,030 0 0
CARBO CERAMICS INC COM 140781105 1,232 170,000 SH   SOLE   170,000 0 0
CIRRUS LOGIC INC COM 172755100 8,065 198,500 SH   SOLE   198,500 0 0
COEUR MNG INC COM NEW 192108504 9,199 924,248 SH   SOLE   924,248 0 0
COMPANIA DE MINAS BUENAVENTU SPONSORED ADR 204448104 5,206 265,000 SH   SOLE   265,000 0 0
DENISON MINES CORP COM 248356107 14 30,728 SH   SOLE   30,728 0 0
DRDGOLD LIMITED SPON ADR REPSTG 26152H301 27 10,000 SH   SOLE   10,000 0 0
ELDORADO GOLD CORP NEW COM 284902103 11 13,150 SH   SOLE   13,150 0 0
ELECTRUM SPL ACQUISITION COR *W EXP 06/16/202 G3105C112 252 788,400 SH   SOLE   788,400 0 0
EMX RTY CORP COM 26873J107 3,614 4,106,679 SH   SOLE   4,106,679 0 0
ENDEAVOUR SILVER CORP COM 29258Y103 1,374 566,100 SH   SOLE   566,100 0 0
ENERGY FUELS INC *W EXP 09/20/202 292671179 208 277,778 SH   SOLE   277,778 0 0
ETFS PLATINUM TR SH BEN INT 26922V101 575 6,493 SH   SOLE   6,493 0 0
EXXON MOBIL CORP COM 30231G102 6,491 87,000 SH   SOLE   87,000 0 0
FEDERATED INVS INC PA CL B 314211103 7,515 225,000 SH   SOLE   225,000 0 0
FIRST MAJESTIC SILVER CORP COM 32076V103 4,122 674,055 SH   SOLE   674,055 0 0
FORTUNA SILVER MINES INC COM 349915108 7,722 1,482,284 SH   SOLE   1,482,284 0 0
FRANCO NEVADA CORP COM 351858105 7,060 103,237 SH   SOLE   103,237 0 0
FRANKLIN RES INC COM 354613101 10,230 295,000 SH   SOLE   295,000 0 0
FREEPORT-MCMORAN INC CL B 35671D857 249 14,200 SH   SOLE   14,200 0 0
FRP HLDGS INC COM 30292L107 6,916 123,500 SH   SOLE   123,500 0 0
GAMESTOP CORP NEW CL A 36467W109 3,596 285,000 SH   SOLE   285,000 0 0
GARMIN LTD SHS H2906T109 2,887 49,000 SH   SOLE   49,000 0 0
GENTEX CORP COM 371901109 12,085 525,000 SH   SOLE   525,000 0 0
GLADSTONE INVT CORP COM 376546107 172 17,000 SH   SOLE   17,000 0 0
GOLD STD VENTURES CORP COM 380738104 2,372 1,451,300 SH   SOLE   1,451,300 0 0
GOLDCORP INC NEW COM 380956409 7,450 539,964 SH   SOLE   539,964 0 0
GREAT PANTHER SILVER LTD COM 39115V101 1,187 786,200 SH   SOLE   786,200 0 0
HECLA MNG CO COM 422704106 5,020 1,060,300 SH   SOLE   1,060,300 0 0
HELMERICH & PAYNE INC COM 423452101 10,376 155,889 SH   SOLE   155,889 0 0
IAMGOLD CORP COM 450913108 426 82,000 SH   SOLE   82,000 0 0
ICAD INC COM NEW 44934S206 86 28,000 SH   SOLE   28,000 0 0
INDUSTRIAS BACHOCO S A B DE SPON ADR B 456463108 5,508 88,914 SH   SOLE   88,914 0 0
INTERNATIONAL TOWER HILL MIN COM 46050R102 37 67,200 SH   SOLE   67,200 0 0
ISHARES GOLD TRUST ISHARES 464285105 203 15,946 SH   SOLE   15,946 0 0
ISHARES SILVER TRUST ISHARES 46428Q109 458 29,693 SH   SOLE   29,693 0 0
ISHARES TR 20 YR TR BD ETF 464287432 251 2,058 SH   SOLE   2,058 0 0
ISHARES TR 1 3 YR TREAS BD 464287457 206 2,471 SH   SOLE   2,471 0 0
KENNEDY-WILSON HLDGS INC COM 489398107 11,868 682,070 SH   SOLE   682,070 0 0
KIRKLAND LAKE GOLD LTD COM 49741E100 11,963 772,890 SH   SOLE   772,890 0 0
LAM RESEARCH CORP COM 512807108 10,158 50,000 SH   SOLE   50,000 0 0
MAG SILVER CORP COM 55903Q104 12,031 1,230,980 SH   SOLE   1,230,980 0 0
MARCUS & MILLICHAP INC COM 566324109 4,544 126,000 SH   SOLE   126,000 0 0
MOUNTAIN PROV DIAMONDS INC COM NEW 62426E402 812 331,550 SH   SOLE   331,550 0 0
NEVSUN RES LTD COM 64156L101 5,934 2,493,885 SH   SOLE   2,493,885 0 0
NEW GOLD INC CDA COM 644535106 113 43,910 SH   SOLE   43,910 0 0
NEWFIELD EXPL CO COM 651290108 203 8,326 SH   SOLE   8,326 0 0
NEWMONT MINING CORP COM 651639106 642 16,442 SH   SOLE   16,442 0 0
NEXGEN ENERGY LTD COM 65340P106 1,658 968,520 SH   SOLE   968,520 0 0
OASIS PETE INC NEW COM 674215108 126 15,500 SH   SOLE   15,500 0 0
OSISKO GOLD ROYALTIES LTD COM 68827L101 756 78,183 SH   SOLE   78,183 0 0
PAN AMERICAN SILVER CORP COM 697900108 16,832 1,044,158 SH   SOLE   1,044,158 0 0
PRETIUM RES INC COM 74139C102 12,194 1,834,894 SH   SOLE   1,834,894 0 0
RANDGOLD RES LTD ADR 752344309 12,448 137,246 SH   SOLE   137,246 0 0
ROYAL GOLD INC COM 780287108 2,729 31,779 SH   SOLE   31,779 0 0
SANDERSON FARMS INC COM 800013104 10,439 87,708 SH   SOLE   87,708 0 0
SANDSTORM GOLD LTD COM NEW 80013R206 13,079 2,747,876 SH   SOLE   2,747,876 0 0
SEABRIDGE GOLD INC COM 811916105 4,165 385,681 SH   SOLE   385,681 0 0
SILVERCORP METALS INC COM 82835P103 3,876 1,441,267 SH   SOLE   1,441,267 0 0
SPDR GOLD TRUST GOLD SHS 78463V107 25,009 198,820 SH   SOLE   198,820 0 0
SPROTT FOCUS TR INC COM 85208J109 409 52,555 SH   SOLE   52,555 0 0
SPROTT PHYSICAL GOLD & SILVE TR UNIT 85208R101 141 10,665 SH   SOLE   10,665 0 0
SPROTT PHYSICAL GOLD TRUST UNIT 85207H104 1,304 121,307 SH   SOLE   121,307 0 0
SPROTT PHYSICAL PLAT PALLAD UNIT 85207Q104 781 91,595 SH   SOLE   91,595 0 0
SPROTT PHYSICAL SILVER TR TR UNIT 85207K107 554 91,690 SH   SOLE   91,690 0 0
SSR MNG INC COM 784730103 6,461 671,994 SH   SOLE   671,994 0 0
SUNCOR ENERGY INC NEW COM 867224107 218 6,326 SH   SOLE   6,326 0 0
SYNTEL INC COM 87162H103 7,914 310,000 SH   SOLE   310,000 0 0
TAHOE RES INC COM 873868103 8,226 1,645,152 SH   SOLE   1,645,152 0 0
TEUCRIUM COMMODITY TR WHEAT FD 88166A508 124 20,000 SH   SOLE   20,000 0 0
THOR INDS INC COM 885160101 7,083 61,500 SH   SOLE   61,500 0 0
TURQUOISE HILL RES LTD COM 900435108 41 13,200 SH   SOLE   13,200 0 0
URANIUM ENERGY CORP COM 916896103 597 456,058 SH   SOLE   456,058 0 0
VANECK VECTORS ETF TR GOLD MINERS ETF 92189F106 34,550 1,571,900 SH Call SOLE   1,571,900 0 0
VANECK VECTORS ETF TR GOLD MINERS ETF 92189F106 3,830 174,254 SH   SOLE   174,254 0 0
VANGUARD BD INDEX FD INC LONG TERM BOND 921937793 247 2,723 SH   SOLE   2,723 0 0
VANGUARD SCOTTSDALE FDS SHRT TRM CORP BD 92206C409 2,729 34,800 SH   SOLE   34,800 0 0
VISTA GOLD CORP COM NEW 927926303 20 28,166 SH   SOLE   28,166 0 0
WESTERN DIGITAL CORP COM 958102105 11,995 130,000 SH   SOLE   130,000 0 0
WESTLAKE CHEM CORP COM 960413102 2,779 25,000 SH   SOLE   25,000 0 0
WHEATON PRECIOUS METALS CORP COM 962879102 20,139 887,249 SH   SOLE   887,249 0 0
WILLIAMS SONOMA INC COM 969904101 4,907 93,000 SH   SOLE   93,000 0 0
YAMANA GOLD INC COM 98462Y100 395 143,150 SH   SOLE   143,150 0 0