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ASA Gold and Precious Metals Limited - ASA STOCK NEWS

Welcome to our dedicated page for ASA Gold and Precious Metals news (Ticker: ASA), a resource for investors and traders seeking the latest updates and insights on ASA Gold and Precious Metals stock.

ASA Gold and Precious Metals Limited (NYSE: ASA) is a distinguished closed-end precious metals and mining fund established in 1958. With over six decades of expertise, ASA is one of the oldest investment management firms dedicated solely to the precious metals and mining sector. The company is registered with the United States Securities and Exchange Commission and is domiciled in Bermuda.

ASA's primary objective is to offer long-term capital appreciation by investing in companies involved in the exploration, mining, and processing of precious metals such as gold, silver, platinum, and diamonds. Managed by a seasoned investment team, ASA employs a comprehensive approach to its investment strategy. This includes bottom-up analysis based on fundamental research, due diligence mine visits, and frequent consultations with mining executives and specialists.

ASA's investment decisions are meticulously crafted to ensure robust returns and minimized risks. The company is managed internally by its experienced directors and officers, ensuring that stakeholder interests are always a priority. The common shares of ASA are traded on the New York Stock Exchange under the ticker symbol 'ASA', providing investors with easy access to this specialized fund.

Recently, ASA has been focusing on expanding its portfolio to include companies in various stages of mining and precious metals processing. This diversification strategy aims to enhance returns and reduce market volatility risks. The company's latest projects and partnerships reflect its commitment to innovation and sustained growth within the precious metals industry.

For investors looking to gain exposure to the precious metals market through a well-established and highly specialized fund, ASA Gold and Precious Metals Limited represents a compelling option. Stay tuned for the latest updates on ASA's performance, new projects, and market developments.

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Atlantic Sapphire ASA (OSE:ASA / OTCQX: AASZF), a leader in sustainable aquaculture, has joined the Florida Power & Light Company (FPL) SolarTogether program. This initiative will offset 45% of the company's total energy consumption with solar power, significantly reducing its carbon footprint. Since 2011, Atlantic Sapphire has transformed salmon farming with its proprietary BluehouseTM technology, sourcing water from the Floridian Aquifer and delivering fresh, ocean-safe seafood across North America. The FPL SolarTogether program allows participants to benefit from solar energy without upfront costs, paying a fixed monthly subscription and receiving escalating bill credits. This move underscores Atlantic Sapphire's commitment to environmental sustainability and efficient energy use.

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ASA Gold and Precious Metals held its Annual General Meeting on April 26, 2024, where shareholders elected new directors and approved the appointment of independent auditors. The company focuses on investing in companies engaged in precious metals and minerals exploration.

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Saba Capital Management, L.P., the largest common shareholder of ASA Gold and Precious Metals , announced the election of Ketu Desai and Paul Kazarian to ASA's Board of Directors at the 2024 Annual Meeting. Shareholders voted to elect these nominees due to the Fund's poor performance and governance failures. Saba aims to enhance shareholder value and address the Fund's discount to Net Asset Value (NAV).

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Saba Capital Management, L.P., the largest common shareholder of ASA Gold and Precious Metals , commented on the outcome of the Fund's 2024 Annual Meeting of Shareholders. Shareholders voted to elect Saba nominees Ketu Desai and Paul Kazarian to ASA's Board of Directors. Saba aims to address the Fund's poor performance, governance failures, and discriminatory poison pills to enhance shareholder value.

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ASA Gold and Precious Metals (ASA) has adopted a -duration shareholder rights plan to prevent creeping control by Saba Capital Management, LP, which currently holds approximately 16.87% of ASA's outstanding common shares. The plan aims to protect the long-term value of all shareholders and guard against tactics to gain control without paying an appropriate premium. The rights will initially trade with ASA’s common shares and will become exercisable only if a person acquires 15% or more of ASA’s outstanding common shares.

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ASA Gold and Precious Metals announced the adoption of a Discount Management Program, authorizing the repurchase of up to 5% of company stock. The program aims to enhance shareholder value by purchasing shares at a discount to Net Asset Value per share. The Board's decision follows shareholder input and aims to improve the company's trading discount while maintaining its investment strategy. The initiative may increase liquidity for shareholders and create value through share repurchases below NAV. The company will report repurchase activity quarterly, with purchases made opportunistically based on historical discount levels and market conditions.
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ISS supports Saba Capital's case for change at ASA Gold and Precious Metals , recommending shareholders vote for Saba's director candidates due to concerns over the board's defensive maneuvers and ASA's persistent discount to NAV. Saba's nominees aim to enhance shareholder value and improve governance practices.
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ASA Gold and Precious Metals (ASA) declares a distribution of $0.02 per common share, doubling the rate since 2018. Merk Investments waives a portion of its advisory fee in response to a proxy contest initiated by Saba Capital Management, L.P.
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Saba Capital Management, L.P. has filed a lawsuit against ASA Gold and Precious Metals Limited and its Board of Directors for adopting a discriminatory and unlawful shareholder rights plan, violating the Investment Company Act of 1940. The lawsuit seeks to invalidate the poison pill, targeting the company's entrenchment and fees over complying with the law and respecting shareholders' rights. ASA's behavior violates investor protection regulations, potentially causing severe dilution and economic harm to shareholders.
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ASA Gold and Precious Metals Limited (NYSE:ASA) adopts a limited-duration shareholder rights plan to protect against significant share accumulation by Saba Capital Management, LP, aiming to prevent creeping control and safeguard long-term value for all shareholders.
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FAQ

What is ASA Gold and Precious Metals Limited?

ASA Gold and Precious Metals Limited is a closed-end precious metals and mining fund established in 1958, focusing on long-term capital appreciation through investments in the mining sector.

Where is ASA Gold and Precious Metals Limited domiciled?

The company is domiciled in Bermuda and registered with the United States Securities and Exchange Commission.

What is the primary investment focus of ASA?

ASA primarily invests in companies engaged in the exploration, mining, and processing of precious metals such as gold, silver, platinum, and diamonds.

How does ASA make its investment decisions?

ASA employs a bottom-up analysis approach based on fundamental research, due diligence mine visits, and regular meetings with mining executives and specialists.

Who manages ASA Gold and Precious Metals Limited?

The company is managed internally by its directors and officers, ensuring that investment decisions align with stakeholder interests.

What is the ticker symbol for ASA on the New York Stock Exchange?

The common shares of ASA are listed under the ticker symbol 'ASA'.

What are some recent focuses of ASA?

ASA has been expanding its portfolio to include companies in various stages of mining and precious metals processing to enhance returns and reduce market volatility risks.

How can I stay updated on ASA's performance and developments?

Investors can stay tuned to the latest updates, news, and developments regarding ASA by following their stock market performance and company announcements.

What makes ASA a compelling investment option?

ASA represents a compelling investment option due to its long-standing expertise, specialized focus on the precious metals market, and robust investment strategies.

What is ASA’s approach to risk management?

ASA employs thorough due diligence, diversification, and comprehensive research to manage and mitigate investment risks.

ASA Gold and Precious Metals Limited

NYSE:ASA

ASA Rankings

ASA Stock Data

369.40M
19.29M
0.73%
56.31%
0.12%
Asset Management
Financial Services
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United States of America
Portland