Company Website:
http://www.asaltd.com
SAN MATEO, Calif. -- (Business Wire)
ASA
Gold and Precious Metals Limited (NYSE:ASA) reported that the total
return for the nine months ended August 31, 2016, based on ASA’s net
asset value (NAV), was 84.7%, including the reinvestment of dividends.
On August 31, 2016, the NAV of the Company was $15.36 per share versus
$8.33 per share on November 30, 2015.
For the nine months ended August 31, 2016, the total return based on
ASA’s share price was 91.1%. The return for the FTSE Gold Mines Total
Return Index during the same period was 93.6%.
The closing price of ASA’s shares on the New York Stock Exchange (NYSE)
on August 31, 2016 was $13.66, representing a share price discount to
NAV of 11.1%. 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.
|
| August 31, 2016 |
| November 30, 2015 |
| August 31, 2015 |
| | Amount* |
| Per Share | | Amount* |
| Per Share | | Amount* |
| Per Share |
Net assets
| |
$296,386
| |
$15.36
| |
$160,744
| |
$8.33
| |
$171,546
| |
$8.89
|
| | | | | | | | | | | |
|
Net investment income (loss)
| |
$(1,634)
| |
$(0.08)
| |
$(1,713)
| |
$(0.09)
| |
$(1,216)
| |
$(0.06)
|
| | | | | | | | | | | |
|
Ending shares outstanding
| |
19,290
| | | |
19,290
| | | |
19,290
| | |
*000 omitted
| | | | | | | | | | | | |
ASA Gold and Precious Metals Limited (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
ASA Gold and Precious Metals Limited 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 common shares of ASA Gold and Precious Metals
Limited.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160930005927/en/
Contacts:
ASA Gold and Precious Metals Limited
David J.
Christensen, 800-432-3378 or 650-376-3135
President and
Chief Executive Officer
info@asaltd.com
Source: ASA Gold and Precious Metals Limited
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