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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
HECLA MNG CO COM 422704106 9,948 5,526,856 SH   DFND 1,2,3,4,5 0 5,526,856 0
HUDBAY MINERALS INC COM 443628102 182,045 33,649,698 SH   DFND 1,2,3,4,5 0 33,649,698 0
MAG SILVER CORP COM 55903Q104 22,086 2,095,447 SH   DFND 1,2,3,4,5 0 2,095,447 0
PRETIUM RES INC COM 74139C102 29,656 2,962,667 SH   DFND 1,2,3,4,5 0 2,962,667 0