ASA Gold and Precious Metals Limited Reports Financial Results for the Six Months Ended May 31, 2019
July 22 2019 - 4:32PM
Business Wire
ASA Gold and Precious Metals Limited (the “Company”) (NYSE:ASA)
reported that the total return for the six months ended May 31,
2019, based on the Company’s net asset value (NAV), was positive
16.6%, including the reinvestment of distributions paid on the
Company’s shares. On May 31, 2019, the NAV of the Company was
$11.76 per share versus $12.11 per share on May 31, 2018.
For the six months ended May 31, 2019, the total return based on
the Company’s share price was positive 14.4%, including the
reinvestment of distributions paid on the Company’s shares. The
return for the FTSE Gold Mines Total Return Index during the same
period was positive 13.8%.
The closing price of the Company’s shares on the New York Stock
Exchange (NYSE) on May 31, 2019 was $9.90, representing a share
price discount to NAV of 15.8%. The share price of closed-end
funds, such as the Company, 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.
Six
Months Ended May 31, 2019
Year
Ended November 30, 2018
Six
Months Ended May 31, 2018
Amount*
Per
Share
Amount*
Per
Share
Amount*
Per
Share
Net assets
$226,830
$11.76
$194,834
$10.10
$233,624
$12.11
Net investment income (loss)
$(276
)
$(0.01
)
$(1,409
)
$(0.07
)
$(567
)
$(0.03
)
Ending shares outstanding
19,290
19,290
19,290
*000 omitted
The Company is a non-diversified, closed-end 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 therefore, 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.
Investment advisory services for the Company are provided by
Merk Investments LLC (Merk), an SEC registered investment adviser.
Merk provides investment advice on liquid global markets, including
domestic and international equities, fixed income, commodities and
currencies and their respective derivative markets.
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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190722005717/en/
Axel Merk Chief Operating Officer (650)
376-3135 or (800) 432-3378 info@asaltd.com
ASA Gold and Precious Me... (NYSE:ASA)
Historical Stock Chart
From Mar 2024 to Apr 2024
ASA Gold and Precious Me... (NYSE:ASA)
Historical Stock Chart
From Apr 2023 to Apr 2024