MEDICI CAPITAL LLC Hedge Fund

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
AEM	AGNICO EAGLE MINES LTD	137,800 (+27.6%)	$23,361 (+751.6%)	18.7%	$78.77	+113.1%	CALL	008474108
GDXJ	VANECK ETF TR JR GOLD MINERS	89,800 (+29.2%)	$10,217 (+489.2%)	8.2%	—	—	CALL	92189F791
GMINF	G MNG VENTURES CORP	338,700 (+6.6%)	$10,253 (+62.4%)	8.2%	$14.47	+60.7%	COMMON	36270K102
ITRG	INTEGRA RESOURCES CORP	907,875 (+643.6%)	$3,656 (+926.1%)	2.9%	$3.13	+7.6%	COMMON	45826T509
AEM	AGNICO EAGLE MINES LTD	147,282 (+7.0%)	$24,969 (+7.6%)	20.0%	$78.77	+113.1%	COMMON	008474108
ALEC	ALECTOR INC	1,500,520 (+211.3%)	$2,341 (+64.1%)	1.9%	$2.38	-25.3%	COMMON	014442107
DC	DAKOTA GOLD CORP	198,321 (+174.2%)	$1,126 (+242.3%)	0.9%	$4.32	+11.2%	COMMON	46655E100

Exited Positions (20)

GSISF GENESIS MINERALS LTD 12.4%

Value ($000) $15,511 Shares 3,974,346 Est. Cost $3.03 Unrealized +42.6%

EMX EMX RTY CORP 11.6%

Value ($000) $14,418 Shares 2,817,200 Est. Cost $2.71 Unrealized —

DSVSF DISCOVERY SILVER CORP 6.7%

Value ($000) $8,359 Shares 2,253,660 Est. Cost $2.05 Unrealized +132.7%

NESRF NORTHERN STAR RES LTD 6.4%

Value ($000) $8,007 Shares 509,246 Est. Cost $12.28 Unrealized +36.8%

SA SEABRIDGE GOLD INC 4.3%

Value ($000) $5,348 Shares 221,450 Est. Cost $17.30 Unrealized +52.0%

RMLRF RAMELIUS RESOURCES LTD 4.2%

Value ($000) $5,301 Shares 2,061,849 Est. Cost $1.96 Unrealized +25.8%

ESGFF ORA BANDA MINING LTD 1.8%

Value ($000) $2,265 Shares 2,896,940 Est. Cost $0.08 Unrealized +853.7%

SKE SKEENA RESOURCES LTD 1.8%

Value ($000) $2,244 Shares 121,800 Est. Cost $12.60 Unrealized +56.6%

EOGSF EMERALD RES NL 1.5%

Value ($000) $1,838 Shares 552,488 Est. Cost $2.66 Unrealized +30.2%

— ELEMENTAL ALTUS ROYALTIES CO 1.2%

Value ($000) $1,484 Shares 82,430 Est. Cost $18.00 Unrealized —

CTYMF CATALYST METALS LTD 1.1%

Value ($000) $1,390 Shares 265,619 Est. Cost $4.20 Unrealized +12.0%

— MINERALS 260 LTD 1.0%

Value ($000) $1,241 Shares 7,489,625 Est. Cost $0.17 Unrealized —

DDEJF DUNDEE CORP CL A 0.9%

Value ($000) $1,095 Shares 353,400 Est. Cost $1.64 Unrealized +64.7%

CRNLF CAPRICORN METALS LTD 0.6%

Value ($000) $808 Shares 92,147 Est. Cost $6.76 Unrealized +29.7%

SXGCF SOUTHERN CROSS GOLD CONSOLIDATED LTD 0.6%

Value ($000) $790 Shares 147,844 Est. Cost $4.18 Unrealized +36.5%

SNWGF SNOWLINE GOLD CORP 0.4%

Value ($000) $559 Shares 70,000 Est. Cost $7.00 Unrealized +45.3%

MQBKY MACQUARIE GROUP LTD 0.4%

Value ($000) $511 Shares 3,500 Est. Cost $145.99 Unrealized —

VOXR VOX ROYALTY CORP 0.4%

Value ($000) $488 Shares 113,400 Est. Cost $2.87 Unrealized +57.5%

PROBF PROBE GOLD INC 0.4%

Value ($000) $446 Shares 206,000 Est. Cost $1.65 Unrealized +46.9%

KLDCF KENORLAND MINERALS LTD 0.3%

Value ($000) $401 Shares 277,325 Est. Cost $1.24 Unrealized +21.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GSISF	GENESIS MINERALS LTD	3,974,346	$15,511	12.4%	$3.03	+42.6%	—	Q3977Z180
EMX	EMX RTY CORP	2,817,200	$14,418	11.6%	$2.71	—	—	26873J107
DSVSF	DISCOVERY SILVER CORP	2,253,660	$8,359	6.7%	$2.05	+132.7%	—	254677107
NESRF	NORTHERN STAR RES LTD	509,246	$8,007	6.4%	$12.28	+36.8%	—	Q6951U101
SA	SEABRIDGE GOLD INC	221,450	$5,348	4.3%	$17.30	+52.0%	—	811916105
RMLRF	RAMELIUS RESOURCES LTD	2,061,849	$5,301	4.2%	$1.96	+25.8%	—	Q7982E108
ESGFF	ORA BANDA MINING LTD	2,896,940	$2,265	1.8%	$0.08	+853.7%	—	Q71512109
SKE	SKEENA RESOURCES LTD	121,800	$2,244	1.8%	$12.60	+56.6%	—	83056P715
EOGSF	EMERALD RES NL	552,488	$1,838	1.5%	$2.66	+30.2%	—	Q3464L108
—	ELEMENTAL ALTUS ROYALTIES CO	82,430	$1,484	1.2%	$18.00	—	—	28619K208
CTYMF	CATALYST METALS LTD	265,619	$1,390	1.1%	$4.20	+12.0%	—	Q2144G109
—	MINERALS 260 LTD	7,489,625	$1,241	1.0%	$0.17	—	—	239343147
DDEJF	DUNDEE CORP CL A	353,400	$1,095	0.9%	$1.64	+64.7%	—	264901109
CRNLF	CAPRICORN METALS LTD	92,147	$808	0.6%	$6.76	+29.7%	—	Q2090L110
SXGCF	SOUTHERN CROSS GOLD CONSOLIDATED LTD	147,844	$790	0.6%	$4.18	+36.5%	—	842685109
SNWGF	SNOWLINE GOLD CORP	70,000	$559	0.4%	$7.00	+45.3%	—	83342V104
MQBKY	MACQUARIE GROUP LTD	3,500	$511	0.4%	$145.99	—	—	55607P204
VOXR	VOX ROYALTY CORP	113,400	$488	0.4%	$2.87	+57.5%	—	92919F103
PROBF	PROBE GOLD INC	206,000	$446	0.4%	$1.65	+46.9%	—	74290F100
KLDCF	KENORLAND MINERALS LTD	277,325	$401	0.3%	$1.24	+21.6%	—	48978L100

Unchanged Positions (6)

GLDM SPDR GOLD MINISHARES TRUST 14.0%

Value ($000) $17,418 Shares 204,026 Est. Cost $49.30 Unrealized —

AGI ALAMOS GOLD INC 6.4%

Value ($000) $8,043 Shares 208,000 Est. Cost $26.15 Unrealized +33.2%

SLV ISHARES SILVER TRUST 1.5%

Value ($000) $1,933 Shares 30,000 Est. Cost $222.02 Unrealized —

WPM WHEATON PRECIOUS METALS CORP 3.4%

Value ($000) $4,231 Shares 36,000 Est. Cost $66.46 Unrealized +61.1%

GLD SPDR GOLD SHARES 1.3%

Value ($000) $1,585 Shares 4,000 Est. Cost $175.42 Unrealized —

GROY GOLD ROYALTY CORP 0.6%

Value ($000) $751 Shares 185,890 Est. Cost $2.27 Unrealized +68.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GLDM	SPDR GOLD MINISHARES TRUST	204,026	$17,418	14.0%	$49.30	—	ETF	98149E303
AGI	ALAMOS GOLD INC	208,000	$8,043	6.4%	$26.15	+33.2%	COMMON	011532108
SLV	ISHARES SILVER TRUST	30,000	$1,933	1.5%	$222.02	—	ETF	46428Q109
WPM	WHEATON PRECIOUS METALS CORP	36,000	$4,231	3.4%	$66.46	+61.1%	COMMON	962879102
GLD	SPDR GOLD SHARES	4,000	$1,585	1.3%	$175.42	—	ETF	78463V107
GROY	GOLD ROYALTY CORP	185,890	$751	0.6%	$2.27	+68.5%	COMMON	38071H106