ASA Gold and Precious Metals Stock Price, News & Analysis

ASA Gold and Precious Metals (NYSE: ASA) has declared a distribution of $0.03 per common share, payable on May 14, 2025, to shareholders of record as of May 5, 2025. This represents a $0.01 increase compared to last year's distribution.

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. Their fundamental policy requires at least 80% of total assets to be invested in:

• Common shares of companies in precious metals exploration, mining, or processing
• Direct holdings of precious metals bullion
• Instruments representing precious metals interests
• Securities of investment companies tracking precious metals

The Company employs bottom-up fundamental analysis and detailed primary research in their investment approach, including executive meetings and site visits.

ASA Gold and Precious Metals has adopted a new -duration shareholder rights plan through December 20, 2024, aimed at protecting against creeping control by Saba Capital Management, which currently holds 17.18% of ASA's shares. The plan follows Saba's proxy contest in early 2024 that resulted in two Saba-proposed directors joining the board.

The Rights Plan will issue one right per common share as of January 9, 2025, becoming exercisable if any entity acquires 15% or more of ASA's shares. Existing shareholders above 15% ownership are grandfathered but cannot acquire additional shares exceeding 0.25% without triggering the plan. If triggered, shareholders can purchase additional shares at $1.00 per share or exchange rights for common shares.

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.

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