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 9,190 185,808 SH   SOLE   185,808 0 0
ALAMOS GOLD INC NEW COM CL A 011532108 4,637 654,428 SH   SOLE   654,428 0 0
ALEXCO RESOURCE CORP COM 01535P106 1,163 688,748 SH   SOLE   688,748 0 0
ALMADEN MINERALS LTD COM CL B 020283305 3,338 4,362,011 SH   SOLE   4,362,011 0 0
AMERICAS SILVER CORP COM NEW 03063L705 1,644 400,000 SH   SOLE   400,000 0 0
AMGEN INC COM 031162100 4,522 24,500 SH   SOLE   24,500 0 0
APPLE INC COM 037833100 12,717 68,700 SH   SOLE   68,700 0 0
ARTISAN PARTNERS ASSET MGMT CL A 04316A108 5,939 197,000 SH   SOLE   197,000 0 0
ASANKO GOLD INC COM 04341Y105 99 92,879 SH   SOLE   92,879 0 0
AURYN RES INC COM 05208W108 231 212,300 SH   SOLE   212,300 0 0
AVINO SILVER & GOLD MINES LT COM 053906103 1,182 750,000 SH   SOLE   750,000 0 0
B2GOLD CORP COM 11777Q209 6,629 2,170,213 SH   SOLE   2,170,213 0 0
BARRICK GOLD CORP COM 067901108 848 64,625 SH   SOLE   64,625 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 3,453 18,500 SH   SOLE   18,500 0 0
BLACK STONE MINERALS L P COM UNIT 09225M101 517 27,987 SH   SOLE   27,987 0 0
BUCKLE INC COM 118440106 6,456 240,000 SH   SOLE   240,000 0 0
CAL MAINE FOODS INC COM NEW 128030202 8,661 188,905 SH   SOLE   188,905 0 0
CAMECO CORP COM 13321L108 1,066 94,805 SH   SOLE   94,805 0 0
CIRRUS LOGIC INC COM 172755100 10,157 265,000 SH   SOLE   265,000 0 0
COEUR MNG INC COM NEW 192108504 8,068 840,134 SH   SOLE   840,134 0 0
COMPANIA DE MINAS BUENAVENTU SPONSORED ADR 204448104 2,566 147,859 SH   SOLE   147,859 0 0
DENISON MINES CORP COM 248356107 14 28,808 SH   SOLE   28,808 0 0
DRDGOLD LIMITED SPON ADR REPSTG 26152H301 25 10,000 SH   SOLE   10,000 0 0
EMX RTY CORP COM 26873J107 4,166 4,079,806 SH   SOLE   4,079,806 0 0
ENERGY FUELS INC *W EXP 09/20/202 292671179 277 277,778 SH   SOLE   277,778 0 0
EXXON MOBIL CORP COM 30231G102 6,618 80,000 SH   SOLE   80,000 0 0
FEDERATED INVS INC PA CL B 314211103 5,247 225,000 SH   SOLE   225,000 0 0
FIRST MAJESTIC SILVER CORP COM 32076V103 4,408 465,854 SH   SOLE   465,854 0 0
FORTUNA SILVER MINES INC COM 349915108 8,069 1,265,609 SH   SOLE   1,265,609 0 0
FRANCO NEVADA CORP COM 351858105 8,327 114,047 SH   SOLE   114,047 0 0
FRANKLIN RES INC COM 354613101 10,512 328,000 SH   SOLE   328,000 0 0
FREEPORT-MCMORAN INC CL B 35671D857 245 14,200 SH   SOLE   14,200 0 0
FRP HLDGS INC COM 30292L107 7,931 122,500 SH   SOLE   122,500 0 0
GAMESTOP CORP NEW CL A 36467W109 5,900 405,000 SH   SOLE   405,000 0 0
GARMIN LTD SHS H2906T109 2,989 49,000 SH   SOLE   49,000 0 0
GENTEX CORP COM 371901109 11,970 520,000 SH   SOLE   520,000 0 0
GLADSTONE INVT CORP COM 376546107 200 17,000 SH   SOLE   17,000 0 0
GOLD RESOURCE CORP COM 38068T105 673 77,800 SH   SOLE   77,800 0 0
GOLD STD VENTURES CORP COM 380738104 2,043 1,178,800 SH   SOLE   1,178,800 0 0
GOLDCORP INC NEW COM 380956409 4,898 298,455 SH   SOLE   298,455 0 0
GREAT PANTHER SILVER LTD COM 39115V101 1,208 786,200 SH   SOLE   786,200 0 0
HECLA MNG CO COM 422704106 2,305 504,425 SH   SOLE   504,425 0 0
HELMERICH & PAYNE INC COM 423452101 9,930 155,749 SH   SOLE   155,749 0 0
IAMGOLD CORP COM 450913108 287 49,600 SH   SOLE   49,600 0 0
ICAD INC COM NEW 44934S206 85 28,000 SH   SOLE   28,000 0 0
INDUSTRIAS BACHOCO S A B DE SPON ADR B 456463108 5,134 88,914 SH   SOLE   88,914 0 0
INTERNATIONAL TOWER HILL MIN COM 46050R102 15 31,200 SH   SOLE   31,200 0 0
ISHARES GOLD TRUST ISHARES 464285105 190 15,848 SH   SOLE   15,848 0 0
ISHARES SILVER TRUST ISHARES 46428Q109 864 57,945 SH   SOLE   57,945 0 0
ISHARES TR 20 YR TR BD ETF 464287432 259 2,133 SH   SOLE   2,133 0 0
ISHARES TR 1 3 YR TREAS BD 464287457 332 3,994 SH   SOLE   3,994 0 0
KENNEDY-WILSON HLDGS INC COM 489398107 13,196 623,942 SH   SOLE   623,942 0 0
KIRKLAND LAKE GOLD LTD COM 49741E100 14,910 558,501 SH   SOLE   558,501 0 0
LAM RESEARCH CORP COM 512807108 11,148 64,500 SH   SOLE   64,500 0 0
MAG SILVER CORP COM 55903Q104 8,215 636,512 SH   SOLE   636,512 0 0
MARCUS & MILLICHAP INC COM 566324109 4,915 126,000 SH   SOLE   126,000 0 0
MOUNTAIN PROV DIAMONDS INC COM NEW 62426E402 794 324,418 SH   SOLE   324,418 0 0
NEVSUN RES LTD COM 64156L101 10,291 2,807,434 SH   SOLE   2,807,434 0 0
NEW GOLD INC CDA COM 644535106 94 45,610 SH   SOLE   45,610 0 0
NEWMONT MINING CORP COM 651639106 12,518 266,609 SH   SOLE   266,609 0 0
NEXGEN ENERGY LTD COM 65340P106 3,066 1,372,670 SH   SOLE   1,372,670 0 0
OSISKO GOLD ROYALTIES LTD COM 68827L101 730 77,188 SH   SOLE   77,188 0 0
PAN AMERICAN SILVER CORP COM 697900108 18,885 888,958 SH   SOLE   888,958 0 0
PRETIUM RES INC COM 74139C102 16,121 1,846,669 SH   SOLE   1,846,669 0 0
RANDGOLD RES LTD ADR 752344309 9,554 114,169 SH   SOLE   114,169 0 0
ROYAL GOLD INC COM 780287108 2,916 31,415 SH   SOLE   31,415 0 0
SANDERSON FARMS INC COM 800013104 9,240 87,882 SH   SOLE   87,882 0 0
SANDSTORM GOLD LTD COM NEW 80013R206 13,514 3,003,793 SH   SOLE   3,003,793 0 0
SEABRIDGE GOLD INC COM 811916105 3,924 351,987 SH   SOLE   351,987 0 0
SILVERCORP METALS INC COM 82835P103 3,387 1,009,867 SH   SOLE   1,009,867 0 0
SMART SAND INC COM 83191H107 2,819 507,500 SH   SOLE   507,500 0 0
SPROTT FOCUS TR INC COM 85208J109 399 51,059 SH   SOLE   51,059 0 0
SPROTT PHYSICAL GOLD & SILVE TR UNIT 85208R101 171 13,665 SH   SOLE   13,665 0 0
SPROTT PHYSICAL GOLD TRUST UNIT 85207H104 882 86,644 SH   SOLE   86,644 0 0
SPROTT PHYSICAL PLAT PALLAD UNIT 85207Q104 759 92,080 SH   SOLE   92,080 0 0
SPROTT PHYSICAL SILVER TR TR UNIT 85207K107 579 98,690 SH   SOLE   98,690 0 0
SSR MNG INC COM 784730103 8,338 671,905 SH   SOLE   671,905 0 0
SYNTEL INC COM 87162H103 6,514 203,000 SH   SOLE   203,000 0 0
TAHOE RES INC COM 873868103 17,674 2,874,445 SH   SOLE   2,874,445 0 0
TEUCRIUM COMMODITY TR WHEAT FD 88166A508 137 21,550 SH   SOLE   21,550 0 0
THOR INDS INC COM 885160101 10,858 111,500 SH   SOLE   111,500 0 0
TURQUOISE HILL RES LTD COM 900435108 28 10,000 SH   SOLE   10,000 0 0
URANIUM ENERGY CORP COM 916896103 478 271,432 SH   SOLE   271,432 0 0
VANECK VECTORS ETF TR GOLD MINERS ETF 92189F106 35,069 1,571,900 SH Call SOLE   1,571,900 0 0
VANECK VECTORS ETF TR GOLD MINERS ETF 92189F106 3,826 171,522 SH   SOLE   171,522 0 0
VANGUARD SCOTTSDALE FDS SHRT TRM CORP BD 92206C409 3,374 32,900 SH   SOLE   32,900 0 0
WESTERN DIGITAL CORP COM 958102105 10,992 142,000 SH   SOLE   142,000 0 0
WESTLAKE CHEM CORP COM 960413102 2,690 25,000 SH   SOLE   25,000 0 0
WHEATON PRECIOUS METALS CORP COM 962879102 21,584 771,670 SH   SOLE   771,670 0 0
WILLIAMS SONOMA INC COM 969904101 4,910 80,000 SH   SOLE   80,000 0 0
YAMANA GOLD INC COM 98462Y100 561 194,319 SH   SOLE   194,319 0 0