ASA Gold and Precious Metals Limited Reports Financial Results for the Year Ended November 30, 2018
ASA Gold and Precious Metals Limited (the “Company”) (NYSE:ASA) reported that the total return for the year ended November 30,
2018, based on ASA’s net asset value (NAV), was negative 20.0%, including the reinvestment of dividends. On November 30, 2018, the
NAV of the Company was $10.10 per share versus $12.66 per share on November 30, 2017.
For the year ended November 30, 2018, the total return based on ASA’s share price was negative 21.4%, including the reinvestment
of dividends. The return for the FTSE Gold Mines Total Return Index during the same period was negative 14.5%.
The closing price of ASA’s shares on the New York Stock Exchange (NYSE) on November 30, 2018 was $8.66, representing a share
price discount to NAV of 14.3%. The share price of closed-end funds, such as ASA, is determined by trading activity in the open
market and consequently may reflect a premium (higher than) or discount (lower than) to its underlying NAV.
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Year Ended
November 30, 2018
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Year Ended
November 30, 2017
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Amount*
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Per Share
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Amount*
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Per Share
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| Net assets |
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$ |
194,834 |
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$ |
10.10 |
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$ |
244,202 |
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$ |
12.66 |
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| Net investment income (loss) |
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$ |
(1,409 |
) |
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$ |
(0.07 |
) |
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$ |
(1,669 |
) |
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$ |
(0.09 |
) |
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| Ending shares outstanding |
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19,290 |
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19,290 |
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| *000 omitted |
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We regret that on January 8, 2019, our colleague Robert Pilkington resigned from the Board for personal reasons. Robert’s deep
institutional knowledge of ASA, the mining sector and investment world were invaluable to us. We shall miss him and wish him well
in his retirement.
The Company is a non-diversified, closed-end, internally managed fund that seeks long-term capital appreciation primarily
through investing in companies engaged in the exploration for, development of projects or mining of precious metals and
minerals.
It is a fundamental policy of the Company that at least 80% of its total assets must be (i) invested 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, (ii) held as bullion or other direct forms of gold, silver, platinum
or other precious minerals, (iii) invested in instruments representing interests in gold, silver, platinum or other precious
minerals such as certificates of deposit therefor, and/or (iv) invested in securities of investment companies, including exchange
traded funds, or other securities that seek to replicate the price movement of gold, silver or platinum bullion.
The Company employs bottom-up fundamental analysis and relies on detailed primary research including meetings with company
executives, site visits to key operating assets, and proprietary financial analysis in making its investment decisions.
Investors are encouraged to visit the Company’s website for additional information, including historical and current share
prices, news releases, financial statements, tax and supplemental information. The site may be found at
www.asaltd.com, or you may contact the Company directly at (800) 432-3378.
Certain Tax Information
The Company is a “passive foreign investment company” for United States federal income tax purposes. As a result, United States
shareholders holding shares in taxable accounts are encouraged to consult their tax advisors regarding the tax consequences of
their investment in the Company’s common shares.
David J. Christensen
President and Chief Executive Officer
(800) 432-3378 or (650) 376-3135
info@asaltd.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20190128005772/en/