<SEC-DOCUMENT>0000950123-17-004849.txt : 20170512
<SEC-HEADER>0000950123-17-004849.hdr.sgml : 20170512
<ACCEPTANCE-DATETIME>20170512165624
ACCESSION NUMBER:		0000950123-17-004849
CONFORMED SUBMISSION TYPE:	13F-HR
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20170331
FILED AS OF DATE:		20170512
DATE AS OF CHANGE:		20170512
EFFECTIVENESS DATE:		20170512

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			U S GLOBAL INVESTORS INC
		CENTRAL INDEX KEY:			0000754811
		STANDARD INDUSTRIAL CLASSIFICATION:	INVESTMENT ADVICE [6282]
		IRS NUMBER:				741598370
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		13F-HR
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	028-02220
		FILM NUMBER:		17839544

	BUSINESS ADDRESS:	
		STREET 1:		7900 CALLAGHAN RD
		CITY:			SAN ANTONIO
		STATE:			TX
		ZIP:			78229
		BUSINESS PHONE:		2103081234

	MAIL ADDRESS:	
		STREET 1:		7900 CALLAGHAN ROAD
		CITY:			SAN ANTONIO
		STATE:			TX
		ZIP:			78229

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	UNITED SERVICES ADVISORS INC /TX/
		DATE OF NAME CHANGE:	19950321
</SEC-HEADER>
<DOCUMENT>
<TYPE>13F-HR
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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      <liveTestFlag>LIVE</liveTestFlag>
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        <confirmingCopyFlag>false</confirmingCopyFlag>
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      <filer>
        <credentials>
          <cik>0000754811</cik>
          <ccc>XXXXXXXX</ccc>
        </credentials>
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      <periodOfReport>03-31-2017</periodOfReport>
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  <formData>
    <coverPage>
      <reportCalendarOrQuarter>03-31-2017</reportCalendarOrQuarter>
      <filingManager>
        <name>U S Global Investors Inc</name>
        <address>
          <ns1:street1>7900 Callaghan Road</ns1:street1>
          <ns1:city>San  Antonio</ns1:city>
          <ns1:stateOrCountry>TX</ns1:stateOrCountry>
          <ns1:zipCode>78229</ns1:zipCode>
        </address>
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      <reportType>13F HOLDINGS REPORT</reportType>
      <form13FFileNumber>028-02220</form13FFileNumber>
      <provideInfoForInstruction5>N</provideInfoForInstruction5>
    </coverPage>
    <signatureBlock>
      <name>Susan B. McGee</name>
      <title>President/General Counsel and CCO</title>
      <phone>210-308-1234</phone>
      <signature>/s/ Susan B. McGee</signature>
      <city>San Antonio</city>
      <stateOrCountry>TX</stateOrCountry>
      <signatureDate>05-12-2017</signatureDate>
    </signatureBlock>
    <summaryPage>
      <otherIncludedManagersCount>0</otherIncludedManagersCount>
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      <tableValueTotal>43210149</tableValueTotal>
      <isConfidentialOmitted>false</isConfidentialOmitted>
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       <value>142</value>
       <shrsOrPrnAmt>
           <sshPrnamt>500</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>500</Shared>
           <None>0</None>
       </votingAuthority>
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   <infoTable>
       <nameOfIssuer>SILICON MOTION TECHNOLOGY CO</nameOfIssuer>
       <titleOfClass>SPONSORED ADR</titleOfClass>
       <cusip>82706C108</cusip>
       <value>42</value>
       <shrsOrPrnAmt>
           <sshPrnamt>900</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
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       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>900</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>SINOPEC SHANGHAI PETROCHEMIC</nameOfIssuer>
       <titleOfClass>SPON ADR H</titleOfClass>
       <cusip>82935M109</cusip>
       <value>234</value>
       <shrsOrPrnAmt>
           <sshPrnamt>4200</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>4200</Shared>
           <None>0</None>
       </votingAuthority>
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   <infoTable>
       <nameOfIssuer>TAIWAN SEMICONDUCTOR MFG LTD</nameOfIssuer>
       <titleOfClass>SPONSORED ADR</titleOfClass>
       <cusip>874039100</cusip>
       <value>187</value>
       <shrsOrPrnAmt>
           <sshPrnamt>5700</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>5700</Shared>
           <None>0</None>
       </votingAuthority>
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   <infoTable>
       <nameOfIssuer>VANECK VECTORS ETF TR</nameOfIssuer>
       <titleOfClass>VIETNAM ETF</titleOfClass>
       <cusip>92189F817</cusip>
       <value>168</value>
       <shrsOrPrnAmt>
           <sshPrnamt>12000</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
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       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>12000</Shared>
           <None>0</None>
       </votingAuthority>
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   <infoTable>
       <nameOfIssuer>DIREXION SHS ETF TR</nameOfIssuer>
       <titleOfClass>DLY RUSSIA BL 3X</titleOfClass>
       <cusip>25490K273</cusip>
       <value>1530</value>
       <shrsOrPrnAmt>
           <sshPrnamt>17000</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
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       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>17000</Shared>
           <None>0</None>
       </votingAuthority>
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   <infoTable>
       <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
       <titleOfClass>MSCI GREECE ETF</titleOfClass>
       <cusip>37950E366</cusip>
       <value>127</value>
       <shrsOrPrnAmt>
           <sshPrnamt>16000</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
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       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>16000</Shared>
           <None>0</None>
       </votingAuthority>
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   <infoTable>
       <nameOfIssuer>ISHARES</nameOfIssuer>
       <titleOfClass>MSCI TURKEY ETF</titleOfClass>
       <cusip>464286715</cusip>
       <value>251</value>
       <shrsOrPrnAmt>
           <sshPrnamt>7000</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
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       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>7000</Shared>
           <None>0</None>
       </votingAuthority>
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   <infoTable>
       <nameOfIssuer>ISHARES TR</nameOfIssuer>
       <titleOfClass>MSCI POL CAP ETF</titleOfClass>
       <cusip>46429B606</cusip>
       <value>218</value>
       <shrsOrPrnAmt>
           <sshPrnamt>10100</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>10100</Shared>
           <None>0</None>
       </votingAuthority>
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   <infoTable>
       <nameOfIssuer>MOBILE TELESYSTEMS PJSC</nameOfIssuer>
       <titleOfClass>SPONSORED ADR</titleOfClass>
       <cusip>607409109</cusip>
       <value>471</value>
       <shrsOrPrnAmt>
           <sshPrnamt>42700</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>42700</Shared>
           <None>0</None>
       </votingAuthority>
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   <infoTable>
       <nameOfIssuer>LUXOFT HLDG INC</nameOfIssuer>
       <titleOfClass>ORD SHS CL A</titleOfClass>
       <cusip>G57279104</cusip>
       <value>281</value>
       <shrsOrPrnAmt>
           <sshPrnamt>4500</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>4500</Shared>
           <None>0</None>
       </votingAuthority>
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   <infoTable>
       <nameOfIssuer>YANDEX N V</nameOfIssuer>
       <titleOfClass>SHS CLASS A</titleOfClass>
       <cusip>N97284108</cusip>
       <value>207</value>
       <shrsOrPrnAmt>
           <sshPrnamt>9450</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>9450</Shared>
           <None>0</None>
       </votingAuthority>
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   <infoTable>
       <nameOfIssuer>ALLIANCE HOLDINGS GP LP</nameOfIssuer>
       <titleOfClass>COM UNITS LP</titleOfClass>
       <cusip>01861G100</cusip>
       <value>1232</value>
       <shrsOrPrnAmt>
           <sshPrnamt>44900</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>44900</Shared>
           <None>0</None>
       </votingAuthority>
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   <infoTable>
       <nameOfIssuer>BP PRUDHOE BAY RTY TR</nameOfIssuer>
       <titleOfClass>UNIT BEN INT</titleOfClass>
       <cusip>055630107</cusip>
       <value>165</value>
       <shrsOrPrnAmt>
           <sshPrnamt>8200</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>8200</Shared>
           <None>0</None>
       </votingAuthority>
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   <infoTable>
       <nameOfIssuer>CINER RES LP</nameOfIssuer>
       <titleOfClass>COM UNIT LTD</titleOfClass>
       <cusip>172464109</cusip>
       <value>1318</value>
       <shrsOrPrnAmt>
           <sshPrnamt>46200</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>46200</Shared>
           <None>0</None>
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       <nameOfIssuer>CLAYMORE EXCHANGE TRD FD TR</nameOfIssuer>
       <titleOfClass>GUGG SHIPPNG ETF</titleOfClass>
       <cusip>18383Q796</cusip>
       <value>246</value>
       <shrsOrPrnAmt>
           <sshPrnamt>20000</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>20000</Shared>
           <None>0</None>
       </votingAuthority>
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       <nameOfIssuer>ROYAL DUTCH SHELL PLC</nameOfIssuer>
       <titleOfClass>SPONS ADR A</titleOfClass>
       <cusip>780259206</cusip>
       <value>1213</value>
       <shrsOrPrnAmt>
           <sshPrnamt>230</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
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       <putCall>Call</putCall>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>230</Shared>
           <None>0</None>
       </votingAuthority>
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   <infoTable>
       <nameOfIssuer>CHEVRON CORP NEW</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>166764100</cusip>
       <value>22118</value>
       <shrsOrPrnAmt>
           <sshPrnamt>2060</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <putCall>Call</putCall>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>2060</Shared>
           <None>0</None>
       </votingAuthority>
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       <nameOfIssuer>COOPER TIRE &amp; RUBR CO</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>216831107</cusip>
       <value>1228</value>
       <shrsOrPrnAmt>
           <sshPrnamt>27700</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>27700</Shared>
           <None>0</None>
       </votingAuthority>
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   <infoTable>
       <nameOfIssuer>DEAN FOODS CO NEW</nameOfIssuer>
       <titleOfClass>COM NEW</titleOfClass>
       <cusip>242370203</cusip>
       <value>1215</value>
       <shrsOrPrnAmt>
           <sshPrnamt>61800</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>61800</Shared>
           <None>0</None>
       </votingAuthority>
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   <infoTable>
       <nameOfIssuer>EXXON MOBIL CORP</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>30231G102</cusip>
       <value>820</value>
       <shrsOrPrnAmt>
           <sshPrnamt>100</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <putCall>Call</putCall>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>100</Shared>
           <None>0</None>
       </votingAuthority>
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   <infoTable>
       <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
       <titleOfClass>GLOBAL X COPPER</titleOfClass>
       <cusip>37954Y830</cusip>
       <value>242</value>
       <shrsOrPrnAmt>
           <sshPrnamt>10800</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>10800</Shared>
           <None>0</None>
       </votingAuthority>
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   <infoTable>
       <nameOfIssuer>BHP BILLITON LTD</nameOfIssuer>
       <titleOfClass>SPONSORED ADR</titleOfClass>
       <cusip>088606108</cusip>
       <value>2361</value>
       <shrsOrPrnAmt>
           <sshPrnamt>650</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <putCall>Call</putCall>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>650</Shared>
           <None>0</None>
       </votingAuthority>
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       <nameOfIssuer>BHP BILLITON LTD</nameOfIssuer>
       <titleOfClass>SPONSORED ADR</titleOfClass>
       <cusip>088606108</cusip>
       <value>872</value>
       <shrsOrPrnAmt>
           <sshPrnamt>240</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <putCall>Call</putCall>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>240</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>BHP BILLITON LTD</nameOfIssuer>
       <titleOfClass>SPONSORED ADR</titleOfClass>
       <cusip>088606108</cusip>
       <value>1489</value>
       <shrsOrPrnAmt>
           <sshPrnamt>410</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <putCall>Call</putCall>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>410</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>GOODYEAR TIRE &amp; RUBR CO</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>382550101</cusip>
       <value>1116</value>
       <shrsOrPrnAmt>
           <sshPrnamt>31000</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
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       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>31000</Shared>
           <None>0</None>
       </votingAuthority>
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   <infoTable>
       <nameOfIssuer>FRANCO NEVADA CORP</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>351858105</cusip>
       <value>1572</value>
       <shrsOrPrnAmt>
           <sshPrnamt>240</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <putCall>Call</putCall>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>240</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>BP PLC</nameOfIssuer>
       <titleOfClass>SPONSORED ADR</titleOfClass>
       <cusip>055622104</cusip>
       <value>2520</value>
       <shrsOrPrnAmt>
           <sshPrnamt>730</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <putCall>Call</putCall>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>730</Shared>
           <None>0</None>
       </votingAuthority>
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   <infoTable>
       <nameOfIssuer>KAISER ALUMINUM CORP</nameOfIssuer>
       <titleOfClass>COM PAR $0.01</titleOfClass>
       <cusip>483007704</cusip>
       <value>1175</value>
       <shrsOrPrnAmt>
           <sshPrnamt>14700</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
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       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>14700</Shared>
           <None>0</None>
       </votingAuthority>
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       <nameOfIssuer>LEAR CORP</nameOfIssuer>
       <titleOfClass>COM NEW</titleOfClass>
       <cusip>521865204</cusip>
       <value>1118</value>
       <shrsOrPrnAmt>
           <sshPrnamt>7900</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
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       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>7900</Shared>
           <None>0</None>
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       <nameOfIssuer>BP PLC</nameOfIssuer>
       <titleOfClass>SPONSORED ADR</titleOfClass>
       <cusip>055622104</cusip>
       <value>1346</value>
       <shrsOrPrnAmt>
           <sshPrnamt>390</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
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       <putCall>Call</putCall>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>390</Shared>
           <None>0</None>
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   <infoTable>
       <nameOfIssuer>ROYAL DUTCH SHELL PLC</nameOfIssuer>
       <titleOfClass>SPONS ADR A</titleOfClass>
       <cusip>780259206</cusip>
       <value>4271</value>
       <shrsOrPrnAmt>
           <sshPrnamt>810</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
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       <putCall>Call</putCall>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>810</Shared>
           <None>0</None>
       </votingAuthority>
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   <infoTable>
       <nameOfIssuer>EXXON MOBIL CORP</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>30231G102</cusip>
       <value>16484</value>
       <shrsOrPrnAmt>
           <sshPrnamt>2010</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <putCall>Call</putCall>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>2010</Shared>
           <None>0</None>
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   </infoTable>
   <infoTable>
       <nameOfIssuer>SPDR SERIES TRUST</nameOfIssuer>
       <titleOfClass>S&amp;P OILGAS EXP</titleOfClass>
       <cusip>78464A730</cusip>
       <value>4605</value>
       <shrsOrPrnAmt>
           <sshPrnamt>1230</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <putCall>Call</putCall>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>1230</Shared>
           <None>0</None>
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   <infoTable>
       <nameOfIssuer>PETROCHINA CO LTD</nameOfIssuer>
       <titleOfClass>SPONSORED ADR</titleOfClass>
       <cusip>71646E100</cusip>
       <value>1289</value>
       <shrsOrPrnAmt>
           <sshPrnamt>17600</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>17600</Shared>
           <None>0</None>
       </votingAuthority>
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   <infoTable>
       <nameOfIssuer>RAYONIER ADVANCED MATLS INC</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>75508B104</cusip>
       <value>1344</value>
       <shrsOrPrnAmt>
           <sshPrnamt>99900</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
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       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>99900</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>SAN JUAN BASIN RTY TR</nameOfIssuer>
       <titleOfClass>UNIT BEN INT</titleOfClass>
       <cusip>798241105</cusip>
       <value>287</value>
       <shrsOrPrnAmt>
           <sshPrnamt>39700</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>39700</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>SANDSTORM GOLD LTD</nameOfIssuer>
       <titleOfClass>COM NEW</titleOfClass>
       <cusip>80013R206</cusip>
       <value>529</value>
       <shrsOrPrnAmt>
           <sshPrnamt>124000</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>124000</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>SILVER STD RES INC</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>82823L106</cusip>
       <value>1312</value>
       <shrsOrPrnAmt>
           <sshPrnamt>123700</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
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       <investmentDiscretion>SOLE</investmentDiscretion>
       <votingAuthority>
           <Sole>0</Sole>
           <Shared>123700</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
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