UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number 811-00833
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ASA Limited
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(Exact name of registrant as specified in charter)
36 Wierda Road West, Sandton 2196, South Africa
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(Address of principal executive offices) (Zip Code)
Lawrence G. Nardolillo, LGN Associates
P.O. Box 269, Florham Park, NJ 07932
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(Name and address of agent for service)
Registrant's telephone number, including area code: (716) 883-2428
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Date of fiscal year end: November 30, 2004
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Date of reporting period: August 31, 2004
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ITEM 1. SCHEDULE OF INVESTMENTS.
ASA Limited
Schedule of Investments (Unaudited)
August 31, 2004
PERCENT OF
NUMBER OF MARKET NET
SHARES VALUE ASSETS
Name of Company
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Ordinary shares of gold mining companies
Australian Gold Mines
Newcrest Mining Limited - ADRs 3,000,000 $ 31,470,000 7.3%
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31,470,000 7.3
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United States Gold Mines
Newmont Mining Corporation 520,368 23,099,136 5.3
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23,099,136 5.3
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South African Gold Mines
AngolGold Ashanti Limited 2,389,894 84,693,134 19.6
Gold Fields Limited 9,704,977 118,178,475 27.3
Harmony Gold Mining Company Limited 292,459 3,615,549 .8
Harmony Gold Mining Company Limited-ADRs 2,166,400 27,036,672 6.2
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233,523,830 53.9
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Canadian Gold Mines
Barrick Gold Corporation 730,000 14,600,000 3.4
Placer Dome Incorporated 1,065,312 18,664,266 4.3
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33,264,266 7.7
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South American Gold Mines
Compania de Minas Buenaventura - ADRs 900,000 20,448,000 4.7
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341,805,232 78.9
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Ordinary shares of other companies
South African Mining
Anglo American PLC 1,280,000 29,108,019 6.7
Anglo American Platinum Corporation Limited 820,500 36,562,629 8.4
Impala Platinum Holdings Limited 262,700 22,125,067 5.1
Mvelaphanda Resources Limited (1) 1,950,000 5,219,565 1.2
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93,015,280 21.4
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Total Investments (Cost - $ 151,159,299)(2) 434,820,512 100.3
CASH AND OTHER ASSETS LESS LIABILITIES (1,071,863) (.3)
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Net Assets $433,748,649 100.0%
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There is no assurance that the valuations at which the Company's investments are
carried could be realized upon sale.
(1) Non-income producing security.
(2) Cost of investments shown approximates cost for U.S. federal income tax
purposes, determined in accordance with U.S. income tax principles. Gross
unrealized appreciation of investments and gross unrealized depreciation of
investments at August 31, 2004 were $286,212,505 and $2,551,292,
respectively, resulting in net unrealized appreciation on investments of
$283,661,213.
ITEM 2. CONTROLS AND PROCEDURES.
(a) The Chairman of the Board and Treasurer, in his capacities as
principal executive officer and principal financial officer of
registrant, has concluded that the registrant's disclosure
controls and procedures (as defined in Rule 30a-3(c) under the
Investment Company Act of 1940 (the "Act")) are effective, based
on his evaluation of these controls and procedures as of a date
within 90 days prior to the filing date of this report.
(b) There were no changes in the registrant's internal control over
financial reporting (as defined in Rule 30a-3(d) under the Act)
that occurred during the registrant's most recent fiscal quarter
that have materially affected, or are reasonably likely to
materially affect, the registrant's internal control over
financial reporting.
ITEM 3. EXHIBITS.
The certification required by Rule 30a-2(a) under the Act is
attached hereto.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and
the Investment Company Act of 1940, the registrant has duly caused this report
to be signed on its behalf by the undersigned, thereunto duly authorized.
ASA Limited
By /s/ Robert J.A. Irwin
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Robert J.A. Irwin
Chairman of the Board and Treasurer
Date: October 28, 2004
Pursuant to the requirements of the Securities Exchange Act of 1934 and
the Investment Company Act of 1940, this report has been signed below by the
following person on behalf of the registrant and in the capacities and on the
date indicated.
By /s/ Robert J.A. Irwin
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Robert J.A. Irwin
Chairman of the Board and Treasurer
(Principal Executive Officer and
Principal Financial Officer)
Date: October 28, 2004