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
ADAM NAT RES FD INC COM 00548F105 716 34,228 SH   SOLE   34,228 0 0
AEMETIS INC COM NEW 00770K202 151 11,900 SH   SOLE   11,900 0 0
AERSALE CORPORATION COM 00810F106 10,611 675,000 SH   SOLE   675,000 0 0
AGNICO EAGLE MINES LTD COM 008474108 72,670 1,187,573 SH   SOLE   1,187,573 0 0
ALAMOS GOLD INC NEW COM CL A 011532108 42,864 5,090,759 SH   SOLE   5,090,759 0 0
ALEXCO RESOURCE CORP COM 01535P106 107 69,055 SH   SOLE   69,055 0 0
ALMADEN MINERALS LTD COM CL B 020283305 22 62,600 SH   SOLE   62,600 0 0
AMAZON COM INC COM 023135106 391 120 SH   SOLE   120 0 0
AMERICAS GOLD AND SILVER COR COM 03062D100 2,747 2,507,843 SH   SOLE   2,507,843 0 0
ANGLOGOLD ASHANTI LIMITED SPONSORED ADR 035128206 5,036 212,600 SH   SOLE   212,600 0 0
APPHARVEST INC COM 03783T103 351 65,315 SH   SOLE   65,315 0 0
APPLE INC COM 037833100 426 2,440 SH   SOLE   2,440 0 0
ARCONIC CORPORATION COM 03966V107 213 8,298 SH   SOLE   8,298 0 0
ARTISAN PARTNERS ASSET MGMT CL A 04316A108 11,805 300,000 SH   SOLE   300,000 0 0
ATLAS CORP SHARES Y0436Q109 620 42,253 SH   SOLE   42,253 0 0
B2GOLD CORP COM 11777Q209 9,433 2,055,133 SH   SOLE   2,055,133 0 0
BARRICK GOLD CORP COM 067901108 9,727 396,515 SH   SOLE   396,515 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 12,455 35,292 SH   SOLE   35,292 0 0
BERRY CORP COM 08579X101 3,718 360,285 SH   SOLE   360,285 0 0
BHP GROUP LTD SPONSORED ADS 088606108 1,819 23,553 SH   SOLE   23,553 0 0
BRIGHAM MINERALS INC CL A COM 10918L103 1,005 39,347 SH   SOLE   39,347 0 0
BUCKLE INC COM 118440106 8,590 260,000 SH   SOLE   260,000 0 0
CAL MAINE FOODS INC COM NEW 128030202 14,081 255,000 SH   SOLE   255,000 0 0
CAMECO CORP COM 13321L108 2,657 91,307 SH   SOLE   91,307 0 0
CF INDS HLDGS INC COM 125269100 863 8,370 SH   SOLE   8,370 0 0
CHEMOURS CO COM 163851108 547 17,368 SH   SOLE   17,368 0 0
CHENIERE ENERGY INC COM NEW 16411R208 767 5,530 SH   SOLE   5,530 0 0
CIRRUS LOGIC INC COM 172755100 254 3,000 SH   SOLE   3,000 0 0
CME GROUP INC COM 12572Q105 1,070 4,500 SH   SOLE   4,500 0 0
COEUR MNG INC COM NEW 192108504 4,235 951,656 SH   SOLE   951,656 0 0
CONTANGO ORE INC COM 21077F100 6,448 263,200 SH   SOLE   263,200 0 0
CORE LABORATORIES N V COM N22717107 418 13,200 SH   SOLE   13,200 0 0
CORTEVA INC COM 22052L104 1,361 23,670 SH   SOLE   23,670 0 0
DENISON MINES CORP COM 248356107 5,678 3,484,498 SH   SOLE   3,484,498 0 0
DIREXION SHS ETF TR DAILY GOLD MINER 25460G880 4,336 361,600 SH   SOLE   361,600 0 0
DIREXION SHS ETF TR 20YR TRES BULL 25459W540 366 18,700 SH   SOLE   18,700 0 0
ELDORADO GOLD CORP NEW COM 284902509 951 89,214 SH   SOLE   89,214 0 0
EMX RTY CORP COM 26873J107 8,924 4,114,633 SH   SOLE   4,114,633 0 0
ENERGY FUELS INC COM NEW 292671708 183 19,994 SH   SOLE   19,994 0 0
EQUINOX GOLD CORP COM 29446Y502 48,353 5,854,118 SH   SOLE   5,854,118 0 0
ERO COPPER CORP COM 296006109 3,740 255,435 SH   SOLE   255,435 0 0
EXCELLON RES INC COM 30069C801 18 20,480 SH   SOLE   20,480 0 0
EXCHANGE TRADED CONCEPTS TR NORTH SHOR GBL 301505715 421 5,058 SH   SOLE   5,058 0 0
EXXON MOBIL CORP COM 30231G102 3,242 39,251 SH   SOLE   39,251 0 0
FEDERATED HERMES INC CL B 314211103 11,580 340,000 SH   SOLE   340,000 0 0
FIRST MAJESTIC SILVER CORP COM 32076V103 6,951 528,946 SH   SOLE   528,946 0 0
FORTUNA SILVER MINES INC COM 349915108 11,217 2,948,926 SH   SOLE   2,948,926 0 0
FRANCO NEV CORP COM 351858105 36,550 229,394 SH   SOLE   229,394 0 0
FRANKLIN RESOURCES INC COM 354613101 5,863 210,000 SH   SOLE   210,000 0 0
FREEPORT-MCMORAN INC CL B 35671D857 1,000 20,103 SH   SOLE   20,103 0 0
FRP HLDGS INC COM 30292L107 6,936 120,000 SH   SOLE   120,000 0 0
FURY GOLD MINES LIMITED COM 36117T100 9 13,579 SH   SOLE   13,579 0 0
GATOS SILVER INC COM 368036109 5,946 1,376,378 SH   SOLE   1,376,378 0 0
GOLD FIELDS LTD SPONSORED ADR 38059T106 61,926 4,005,542 SH   SOLE   4,005,542 0 0
GOLD ROYALTY CORP *W EXP 99/99/999 38071H114 194 245,950 SH   SOLE   245,950 0 0
GOLD ROYALTY CORP COMMON SHARES 38071H106 5,792 1,405,729 SH   SOLE   1,405,729 0 0
GOLD STD VENTURES CORP COM 380738104 1,367 3,000,000 SH   SOLE   3,000,000 0 0
GOLDMINING INC COM 38149E101 67 39,500 SH   SOLE   39,500 0 0
GRAFTECH INTL LTD COM 384313508 411 42,713 SH   SOLE   42,713 0 0
HECLA MNG CO COM 422704106 14,179 2,158,197 SH   SOLE   2,158,197 0 0
HELMERICH & PAYNE INC COM 423452101 12,845 300,253 SH   SOLE   300,253 0 0
HYCROFT MINING HOLDING CORP COM CL A 44862P109 1,000 434,874 SH   SOLE   434,874 0 0
HYCROFT MINING HOLDING CORP *W EXP 10/22/202 44862P125 8 28,563 SH   SOLE   28,563 0 0
ICAD INC COM NEW 44934S206 198 44,400 SH   SOLE   44,400 0 0
INDUSTRIAS BACHOCO SAB SPON ADR B 456463108 3,221 68,946 SH   SOLE   68,946 0 0
INGREDION INC COM 457187102 295 3,385 SH   SOLE   3,385 0 0
INTEGRA RES CORP COM NEW 45826T301 3,815 2,663,762 SH   SOLE   2,663,762 0 0
INTERNATIONAL TOWER HILL MIN COM 46050R102 26,651 26,789,591 SH   SOLE   26,789,591 0 0
ISHARES SILVER TR ISHARES 46428Q109 895 39,100 SH Call SOLE   39,100 0 0
ISHARES SILVER TR ISHARES 46428Q109 1,449 63,338 SH   SOLE   63,338 0 0
ISHARES TR JPMORGAN USD EMG 464288281 32,065 328,000 SH Put SOLE   328,000 0 0
ISHARES TR 20 YR TR BD ETF 464287432 1,630 12,340 SH   SOLE   12,340 0 0
ISHARES TR 20 YR TR BD ETF 464287432 5,362 40,600 SH Put SOLE   40,600 0 0
ITERIS INC NEW COM 46564T107 30 10,000 SH   SOLE   10,000 0 0
KENNEDY-WILSON HOLDINGS INC COM 489398107 14,354 588,533 SH   SOLE   588,533 0 0
KINROSS GOLD CORP COM 496902404 49,389 8,399,518 SH   SOLE   8,399,518 0 0
KINROSS GOLD CORP COM 496902404 1,770 301,000 SH Call SOLE   301,000 0 0
LAM RESEARCH CORP COM 512807108 269 500 SH   SOLE   500 0 0
MAG SILVER CORP COM 55903Q104 82,171 5,080,197 SH   SOLE   5,080,197 0 0
MARCUS & MILLICHAP INC COM 566324109 5,268 100,000 SH   SOLE   100,000 0 0
MAVERIX METALS INC COM NEW 57776F405 27,270 5,688,541 SH   SOLE   5,688,541 0 0
METALLA RTY & STREAMING LTD COM NEW 59124U605 197 27,874 SH   SOLE   27,874 0 0
MICROSTRATEGY INC CL A NEW 594972408 211 434 SH   SOLE   434 0 0
NEW GOLD INC CDA COM 644535106 28,125 15,625,096 SH   SOLE   15,625,096 0 0
NEWMONT CORP COM 651639106 61,532 774,478 SH   SOLE   774,478 0 0
NEXGEN ENERGY LTD COM 65340P106 4,574 808,045 SH   SOLE   808,045 0 0
NOVAGOLD RES INC COM NEW 66987E206 22,032 2,850,253 SH   SOLE   2,850,253 0 0
NUCOR CORP COM 670346105 13,432 90,360 SH   SOLE   90,360 0 0
NUTRIEN LTD COM 67077M108 2,704 26,002 SH   SOLE   26,002 0 0
ORLA MNG LTD NEW COM 68634K106 698 145,750 SH   SOLE   145,750 0 0
OSISKO GOLD ROYALTIES LTD COM 68827L101 53,360 4,046,533 SH   SOLE   4,046,533 0 0
PAN AMERN SILVER CORP COM 697900108 68,519 2,510,311 SH   SOLE   2,510,311 0 0
PERPETUA RESOURCES CORP COM 714266103 694 169,244 SH   SOLE   169,244 0 0
PLATINUM GROUP METALS LTD COM 72765Q882 25 11,800 SH   SOLE   11,800 0 0
PROSHARES TR II ULTRA GOLD 74347W601 470 7,100 SH   SOLE   7,100 0 0
QUANTA SVCS INC COM 74762E102 382 2,903 SH   SOLE   2,903 0 0
RELIANCE STEEL & ALUMINUM CO COM 759509102 12,695 69,239 SH   SOLE   69,239 0 0
RIO TINTO PLC SPONSORED ADR 767204100 233 2,902 SH   SOLE   2,902 0 0
ROYAL GOLD INC COM 780287108 14,447 102,257 SH   SOLE   102,257 0 0
SANDSTORM GOLD LTD COM NEW 80013R206 26,937 3,333,390 SH   SOLE   3,333,390 0 0
SCHLUMBERGER LTD COM STK 806857108 1,562 37,818 SH   SOLE   37,818 0 0
SCHNITZER STEEL INDS INC CL A 806882106 10,440 201,000 SH   SOLE   201,000 0 0
SCOTTS MIRACLE-GRO CO CL A 810186106 525 4,267 SH   SOLE   4,267 0 0
SEABRIDGE GOLD INC COM 811916105 29,776 1,609,465 SH   SOLE   1,609,465 0 0
SHELL PLC SPON ADS 780259305 206 3,750 SH   SOLE   3,750 0 0
SIBANYE STILLWATER LTD SPONSORED ADR 82575P107 54,488 3,357,222 SH   SOLE   3,357,222 0 0
SILVERCORP METALS INC COM 82835P103 3,295 904,230 SH   SOLE   904,230 0 0
SILVERCREST METALS INC COM 828363101 69,015 7,747,374 SH   SOLE   7,747,374 0 0
SKEENA RES LTD NEW COM 83056P715 12,891 1,158,327 SH   SOLE   1,158,327 0 0
SMART SAND INC COM 83191H107 2,760 800,000 SH   SOLE   800,000 0 0
SOCIEDAD QUIMICA Y MINERA DE SPON ADR SER B 833635105 1,125 13,142 SH   SOLE   13,142 0 0
SOLARIS OILFIELD INFRASTRUCT COM CL A 83418M103 129 11,425 SH   SOLE   11,425 0 0
SPDR GOLD TR GOLD SHS 78463V107 865 4,790 SH   SOLE   4,790 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 16,259 36,000 SH Put SOLE   36,000 0 0
SPDR SER TR S&P REGL BKG 78464A698 482 7,000 SH   SOLE   7,000 0 0
SPDR SER TR BLOOMBERG 1-3 MO 78468R663 14,355 157,000 SH   SOLE   157,000 0 0
SPROTT ETF TRUST GOLD MINERS ETF 85210B102 250 7,568 SH   SOLE   7,568 0 0
SPROTT FOCUS TR INC COM 85208J109 1,074 118,452 SH   SOLE   118,452 0 0
SPROTT INC COM NEW 852066208 3,803 75,701 SH   SOLE   75,701 0 0
SPROTT PHYSICAL GOLD & SILVE TR UNIT 85208R101 1,292 66,647 SH   SOLE   66,647 0 0
SPROTT PHYSICAL GOLD TR UNIT 85207H104 4,386 285,377 SH   SOLE   285,377 0 0
SPROTT PHYSICAL PLAT PALLAD UNIT 85207Q104 1,031 63,970 SH   SOLE   63,970 0 0
SPROTT PHYSICAL SILVER TR TR UNIT 85207K107 3,904 445,123 SH   SOLE   445,123 0 0
SSR MNG INC COM 784730103 60,540 2,785,065 SH   SOLE   2,785,065 0 0
STEEL DYNAMICS INC COM 858119100 342 4,100 SH   SOLE   4,100 0 0
TESLA INC COM 88160R101 566 525 SH   SOLE   525 0 0
TEXAS PACIFIC LAND CORPORATI COM 88262P102 2,085 1,542 SH   SOLE   1,542 0 0
THOR INDS INC COM 885160101 11,412 145,000 SH   SOLE   145,000 0 0
TRILOGY METALS INC NEW COM 89621C105 1,361 1,296,314 SH   SOLE   1,296,314 0 0
UR-ENERGY INC COM 91688R108 23 14,648 SH   SOLE   14,648 0 0
URANIUM ENERGY CORP COM 916896103 194 42,338 SH   SOLE   42,338 0 0
URANIUM RTY CORP COM 91702V101 4,125 1,049,577 SH   SOLE   1,049,577 0 0
VALE S A SPONSORED ADS 91912E105 1,133 56,678 SH   SOLE   56,678 0 0
VANECK ETF TRUST GOLD MINERS ETF 92189F106 861 22,459 SH   SOLE   22,459 0 0
VANECK ETF TRUST JUNIOR GOLD MINE 92189F791 750 16,000 SH Call SOLE   16,000 0 0
VANGUARD SCOTTSDALE FDS SHRT TRM CORP BD 92206C409 3,498 44,800 SH   SOLE   44,800 0 0
VISHAY INTERTECHNOLOGY INC COM 928298108 8,232 420,000 SH   SOLE   420,000 0 0
VIZSLA SILVER CORP COM NEW 92859G202 8,586 4,281,966 SH   SOLE   4,281,966 0 0
WESTERN DIGITAL CORP. COM 958102105 8,441 170,000 SH   SOLE   170,000 0 0
WESTLAKE CORPORATION COM 960413102 13,574 110,000 SH   SOLE   110,000 0 0
WHEATON PRECIOUS METALS CORP COM 962879102 58,245 1,224,237 SH   SOLE   1,224,237 0 0
YAMANA GOLD INC COM 98462Y100 3,298 590,973 SH   SOLE   590,973 0 0