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
ANGLOGOLD ASHANTI LIMITED SPONSORED ADR 035128206 95,530 5,974,331 SH   DFND 1 5,974,331 0 0
APA CORPORATION COM 03743Q108 64,290 3,000,000 SH   DFND 1 3,000,000 0 0
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102 2,634 17,793 SH   DFND 1 17,793 0 0
BALLYS CORPORATION COM 05875B106 50,140 1,000,000 SH   DFND 1 1,000,000 0 0
BARRICK GOLD CORP COM 067901108 82,069 4,546,771 SH   DFND 1 4,546,771 0 0
BAUSCH HEALTH COS INC COM 071734107 719,617 25,839,035 SH   DFND 1 25,839,035 0 0
BAIDU INC SPON ADR REP A 056752108 3,125 20,327 SH   DFND 1 20,327 0 0
BP PLC SPONSORED ADR 055622104 27,330 1,000,000 SH   DFND 1 1,000,000 0 0
BRIGHTSPHERE INVT GROUP INC COM 10948W103 522,614 20,000,552 SH   DFND 1 20,000,552 0 0
CLOUDERA INC COM 18914U100 73,284 4,588,827 SH   DFND 1 4,588,827 0 0
DIDI GLOBAL INC SPONSORED ADS 23292E108 98,957 12,703,049 SH   DFND 1 12,703,049 0 0
ENDO INTL PLC SHS G30401106 56,140 17,327,012 SH   DFND 1 17,327,012 0 0
EQUINOX GOLD CORP COM 29446Y502 16,500 2,500,000 SH   DFND 1 2,500,000 0 0
EXXON MOBIL CORP COM 30231G102 66,173 1,125,000 SH   DFND 1 1,125,000 0 0
HORIZON THERAPEUTICS PUB L SHS G46188101 675,785 6,169,296 SH   DFND 1 6,169,296 0 0
HYCROFT MINING HOLDING CORP *W EXP 10/12/202 44862P125 52 151,507 SH   DFND 1 151,507 0 0
IAMGOLD CORP COM 450913108 4,181 1,850,000 SH   DFND 1 1,850,000 0 0
INTERNATIONAL TOWER HILL MIN COM 46050R102 45,954 61,930,724 SH   DFND 1 61,930,724 0 0
KANSAS CITY SOUTHERN COM NEW 485170302 8,119 30,000 SH   DFND 1 30,000 0 0
KIRKLAND LAKE GOLD LTD COM 49741E100 54,186 1,302,853 SH   DFND 1 1,302,853 0 0
NEWMARK GROUP INC CL A 65158N102 33,246 2,323,254 SH   DFND 1 2,323,254 0 0
NOVAGOLD RES INC COM NEW 66987E206 152,917 22,226,300 SH   DFND 1 22,226,300 0 0
OVERSEAS SHIPHOLDING GROUP I CL A NEW 69036R863 13,104 6,300,000 SH   DFND 1 6,300,000 0 0
OCCIDENTAL PETE CORP COM 674599105 110,925 3,750,000 SH   DFND 1 3,750,000 0 0
PACIRA BIOSCIENCES INC COM 695127100 70,533 1,259,518 SH   DFND 1 1,259,518 0 0
PERPETUA RESOURCES CORP COM 714266103 123,362 24,771,542 SH   DFND 1 24,771,542 0 0
PRETIUM RES INC COM 74139C102 23,136 2,400,000 SH   DFND 1 2,400,000 0 0
ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 44,570 1,000,000 SH   DFND 1 1,000,000 0 0
SEABRIDGE GOLD INC COM 811916105 31,982 2,070,000 SH   DFND 1 2,070,000 0 0
SPDR GOLD TR GOLD SHS 78463V107 2,956 18,000 SH Call DFND 1 18,000 0 0
SSR MNG INC COM 784730103 19,064 1,310,242 SH   DFND 1 1,310,242 0 0
STAMPS COM INC COM NEW 852857200 1,342 4,068 SH   DFND 1 4,068 0 0
THRYV HLDGS INC COM NEW 886029206 79,200 2,636,475 SH   DFND 1 2,636,475 0 0
TIM S A SPONSORED ADR 88706T108 41,886 3,900,000 SH   DFND 1 3,900,000 0 0
TOTALENERGIES SE SPONSORED ADS 89151E109 22,048 460,000 SH   DFND 1 460,000 0 0
TRILOGY METALS INC NEW COM 89621C105 26,505 14,326,996 SH   DFND 1 14,326,996 0 0
VANECK ETF TRUST OIL SERVICES ETF 92189H607 32,507 165,000 SH   DFND 1 165,000 0 0
VIATRIS INC COM 92556V106 14,296 1,055,079 SH   DFND 1 1,055,079 0 0