Business & Finance
Sun, September 23, 2012
SAN MATEO, Calif.--([ BUSINESS WIRE ])--[ ASA Gold and Precious Metals Limited ] (NYSE: ASA) today reported that the total return for the nine months ended August 31, 2012, based on ASAas net asset value (NAV), was negative 23.2% vs. the FTSE Gold Mines Total Return Index (FTSE), which was negative 23.9%. ASAas portfolio includes investments in a number of platinum group metals producers, diversified mining companies and silver producers that are not represented in the FTSE.
On August 31, 2012, the Companyas NAV was $24.90 per share and the closing price of the shares on the New York Stock Exchange was $22.75, representing a discount to NAV of 8.6%. The share prices of closed-end funds, like ASA, are normally determined by trading activity in the open market and consequently may reflect a premium (higher than) or discount (lower than) to its underlying NAV.
Nine months ended | Nine months ended | |||||||||||||
Amount | Per Share | Amount | Per Share | |||||||||||
| Net assets | $ | 480,323,154 | $ | 24.90 | $ | 677,284,258 | $ | 34.84 | ||||||
| Net investment income (1) | $ | 938,878 | $ | 0.05 | $ | 801,963 | $ | 0.04 | ||||||
| Ending shares outstanding | 19,289,905 | 19,440,000 | ||||||||||||
| (1) Excludes the following items: | ||||||||||||||
Net realized gain (loss) from | $ | 5,749,039 | $ | 0.30 | $ | 5,422,613 | $ | 0.28 | ||||||
Net increase (decrease) in unrealized | $ | (151,866,091 | ) | $ | (7.87 | ) | $ | 1,815,619 | $ | 0.09 | ||||
Established in 1958, ASA Gold and Precious Metals Limited is a closed-end fund that invests in the securities of mining companies engaged in the exploration, mining or processing of gold, silver, platinum, diamonds or other precious minerals. The Companyas wholly-owned investment adviser was established to manage precious metals investment portfolios for foundations, endowments and other institutional investors.
Investors are encouraged to visit ASAas website for additional information, including historical and current share prices and metals prices, news releases, financial statements, tax and supplemental information. The site may be found at [ www.asaltd.com ] or you may contact ASA directly at (800) 432-3378.