Business Context and Reporting Period
This Form 13F-HR filing is submitted by ASA Limited, an institutional investment manager, for the quarter ended June 30, 2009. The report discloses the manager's holdings in equity securities and other reportable assets as of the period end.
Key Financial Metrics
The filing provides aggregate portfolio data rather than operational financial metrics (revenue, profit, cash flow) for the reporting manager itself.
- Total Portfolio Value: $264,405,000
- Number of Holdings: 11
- Primary Sector: Precious Metals and Mining
- Largest Holding by Value: Randgold Resources Limited ($59,017,000)
- Largest Holding by Shares: NovaGold Resources Inc. Note (15,000,000 units)
Material Changes and Portfolio Composition
The filing lists specific positions held as of June 30, 2009. Notable entries include:
- Equity Positions: Significant holdings in major mining companies including Barrick Gold ($34,389,000), Compania de Minas Buenaventura ($35,060,000), and Goldcorp Inc. ($41,700,000).
- Debt Instrument: A holding of 15,000,000 units of NovaGold Resources Inc. Notes valued at $8,750,000.
- Voting Authority: The manager reports "Sole" voting authority for all listed equity positions. One entry (Kinross Gold Corporation) is marked as "Sold" in the voting authority column, indicating a potential disposition or specific reporting status for that position.
Note: As this is a holdings report, it does not provide comparative data against the prior quarter to determine material changes in position size or value.
Guidance, Outlook, and Risks
The filing text does not provide management commentary, future guidance, risk factors, or contingencies. Form 13F reports are strictly disclosure documents regarding current holdings and do not contain forward-looking statements or operational analysis.
Investor Verification Checklist
- Verify the total portfolio value of $264.4 million against the sum of individual line items.
- Confirm the "Sold" status of the Kinross Gold Corporation position to determine if it was held at period end or disposed of during the quarter.
- Review the concentration risk, as the top 5 holdings represent a significant majority of the total portfolio value.
- Check the CUSIP numbers provided to ensure accurate identification of the specific securities held.