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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.
ASA Gold and Precious Metals (NYSE: ASA) has declared a distribution of $0.02 per common share, payable on November 20, 2024, to shareholders of record as of November 13, 2024. This represents a $0.01 increase compared to last year, doubling the rate paid semi-annually since November 2018. The Company, a non-diversified, closed-end fund, has maintained uninterrupted distributions since 1959.
ASA focuses on long-term capital appreciation through investments in precious metals and minerals companies. At least 80% of its total assets are invested in related securities, bullion, or instruments. The Company employs bottom-up fundamental analysis and detailed primary research in its investment decisions. Merk Investments provides investment advisory services for ASA.
Investors should note that ASA is classified as a "passive foreign investment company" for U.S. federal income tax purposes, and shareholders with taxable accounts are advised to consult their tax advisors.
ASA Gold and Precious Metals (NYSE:ASA) has adopted a -duration shareholder rights plan to protect long-term value for all shareholders. The plan, effective until December 20, 2024, aims to prevent Saba Capital Management from gaining creeping control of the company. Saba currently holds approximately 17.02% of ASA's outstanding common shares. The Rights Plan Committee believes Saba's control would be detrimental to ASA and its shareholders.
The plan allows shareholders to purchase additional shares at a discount if any entity acquires 15% or more of ASA's outstanding common shares. Existing shareholders with over 15% ownership are grandfathered but cannot acquire an additional 0.25% or more without triggering the plan. The Committee seeks to engage with shareholders, including Saba, to develop alternatives for enhancing shareholder value.
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.
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.
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).
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.
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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