| Stock | Company | % Portfolio | Shares Held | Market Value | Change in Shares | % Change | Quarter End Price | Source |
|---|---|---|---|---|---|---|---|---|
| HNRG | HALLADOR ENERGY COMPANY | 18.74% | 2,010,994 | $31,834,035 | -10,108 | -0.5% | $15.83 | 13F |
| EQX | EQUINOX GOLD CORP | 16.37% | 4,828,363 | $27,817,121 | 2,259,718 | 87.97% | $5.76 | 13F |
| NGS | NATURAL GAS SVCS GROUP INC | 10.2% | 671,112 | $17,321,401 | -214 | -0.03% | $25.81 | 13F |
| PBF | PBF ENERGY INC | 7.91% | 620,460 | $13,445,368 | 620,460 | New | $21.67 | 13F |
| TDW | TIDEWATER INC NEW | 7.51% | 276,529 | $12,756,283 | 74,798 | 37.08% | $46.13 | 13F |
| ASTL | ALGOMA STL GROUP INC | 7.24% | 1,786,122 | $12,306,381 | 326,219 | 22.35% | $6.89 | 13F |
| PDS | PRECISION DRILLING CORP | 5.99% | 215,396 | $10,181,688 | 19,891 | 10.17% | $47.27 | 13F |
| EGO | ELDORADO GOLD CORP NEW | 4.94% | 412,779 | $8,395,925 | -260 | -0.06% | $20.34 | 13F |
| GAU | GALIANO GOLD INC | 4.86% | 6,505,921 | $8,249,820 | 4,027,090 | 162.46% | $1.27 | 13F |
| BSET | BASSETT FURNITURE INDS INC | 4.26% | 476,119 | $7,237,009 | -189 | -0.04% | $15.2 | 13F |
| EFXT | ENERFLEX LTD | 2.56% | 551,151 | $4,342,790 | -447 | -0.08% | $7.88 | 13F |
| VET | VERMILION ENERGY INC | 2.23% | 520,492 | $3,792,191 | 477,184 | 1101.84% | $7.29 | 13F |
| BTU | PEABODY ENERGY CORP | 1.87% | 236,925 | $3,179,534 | -131 | -0.06% | $13.42 | 13F |
| HNNA | HENNESSY ADVISORS INC | 1.05% | 141,353 | $1,781,048 | No Change | $12.6 | 13F | |
| WHG | WESTWOOD HLDGS GROUP INC | 0.92% | 99,926 | $1,558,846 | -76 | -0.08% | $15.6 | 13F |
| SLV | ISHARES SILVER TR | 0.68% | 35,383 | $1,160,916 | -3,642 | -9.33% | $32.81 | 13F |
| MERC | MERCER INTL INC | 0.64% | 309,007 | $1,081,525 | -491 | -0.16% | $3.5 | 13F |
| ASC | ARDMORE SHIPPING CORP | 0.51% | 89,612 | $860,275 | -149 | -0.17% | $9.6 | 13F |
| IAUX | I-80 GOLD CORP | 0.4% | 1,126,349 | $674,007 | -489 | -0.04% | $0.6 | 13F |
| MIND | MIND TECHNOLOGY INC | 0.4% | 79,572 | $671,588 | -7,487 | -8.6% | $8.44 | 13F |
| XPL | SOLITARIO RESOURCES CORP | 0.24% | 632,458 | $411,098 | No Change | $0.65 | 13F | |
| GLD | SPDR GOLD TR | 0.15% | 828 | $252,399 | -269 | -24.52% | $304.83 | 13F |
| WFG | WEST FRASER TIMBER CO LTD | 0.14% | 3,142 | $229,979 | -55 | -1.72% | $73.2 | 13F |
| CEF | SPROTT PHYSICAL GOLD & SILVE | 0.13% | 7,474 | $224,967 | -418 | -5.3% | $30.1 | 13F |
| DC | DAKOTA GOLD CORP | 0.07% | 30,000 | $110,700 | 30,000 | New | $3.69 | 13F |