ASA Gold and Precious Metals Ltd C.ASA

Primary Symbol: ASA

ASA Gold and Precious Metals Limited is a non-diversified, closed-end investment company. The Company's investment objective is long-term capital appreciation primarily through investing in companies engaged in the exploration for, development of projects or mining of precious metals and minerals. The Company invests approximately 80% of its total assets in common shares or securities convertible into common shares of companies engaged, directly or indirectly, in the exploration, mining or processing of gold, silver, platinum, diamonds or other precious minerals; held as bullion or other direct forms of gold, silver, platinum or other precious minerals; in instruments representing interests in gold, silver, platinum or other precious minerals, and/or in securities of investment companies, including exchange traded funds, or other securities. The Company’s investment adviser is Merk Investments LLC.

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ASA Gold and Precious Metals Ltd > how did it dump so hard

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Comment by 40Baggson Jul 16, 2019 1:48pm

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Post# 29925910

RE:how did it dump so hard

Optics. Paid a consultant 3.8M shares (3%) dilution plus upto 4M shares rotogro worth 1.6M. This deal was worth 9.5M to company to sell off an asset of 3M on the books, but apprently worthless since VGW stated it cannot sell licence in its recent financil release. Basically paid this guy 15M + 1.6M for a deal worth 9.5M that ended up falling through. Perhaps this consultant brought Tarukino to the table, I am not sure as I have yet to listen to the CC. I personally sold at open after reviewing the financials entirely last night, due to the consultant writedown and use of the word “adjusted” ebitda, which made me quite uncomfortable as the explanation was not coming until after markets were open for 1.5 hours. I will reenter once I can review the CC.