ASA Gold and Precious Metals Limited (ASA) 2011年年度报告「NYSE」.pdf

1、ASA Gold and Precious Metals LimitedAnnual Report and Consolidated Financial StatementsNovember 201167785Cover_ASA2011AR.indd 31/6/12 2:58 PM1Annual Report and Consolidated Financial StatementsNovember 30,2011Table of ContentsLetter to shareholders 2Forward-looking statements 5Certain investment pol

2、icies and restrictions 6Report of independent registered public accounting firm 6Consolidated schedules of investments 7Portfolio statistics 9Principal portfolio changes 9Consolidated statements of assets and liabilities 10Consolidated statements of operations 11Consolidated statements of changes in

3、 net assets 12Notes to consolidated financial statements 13Financial highlights 17Certain tax information for U.S.shareholders 18Dividend reinvestment and stock purchase plan 20Results of proposals presented at the annual general meeting of shareholders 21Proxy voting 21Form N-Q 21Common share repur

4、chases 21Board of directors and officers 22Privacy notice 23Other information 24 ASA Gold and Precious Metals Limited2During 2011,the gold price increased for the eleventh con-secutive year,and we believe that a number of economic andpolitical factors continue to support a strong gold price.Although

5、 the gold price rose,investors in gold mining equitiesdid not fare as well as they have in prior years as investor fearsregarding the sustainability of the higher gold price was one ofthe factors that weighed on the valuation of the mining compa-nies.Reflecting this trend,ASA Gold and Precious Metal

6、sLimited(ASA)recorded a total return of negative 4.6%basedon its net asset value(NAV),including reinvested dividends,during the twelve months ended November 30,2011(fiscalyear-end).The NAV of the Company was$32.46 per share atthe fiscal year-end,versus$34.45 per share a year earlier.Theclosing price