ASA Gold and Precious Metals Shareholders Vote to Expand the Board and Elect Maryann Bruce as an Independent Director
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 16 2025
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Source: Newsfilter
Saba Capital's Shareholder Meeting Outcome: Saba Capital Management, the largest shareholder of ASA Gold and Precious Metals Limited, announced that shareholders voted to expand the Board of Directors to five members and elected independent candidate Maryann Bruce as the fifth director during the Special Meeting held on June 13, 2025.
Future Plans for ASA: Boaz Weinstein, Founder of Saba, expressed gratitude for the shareholders' support and emphasized the importance of Maryann Bruce's expertise in fund management for the future growth and value creation of ASA.
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Analyst Views on ASA
About ASA
ASA Gold and Precious Metals Limited is a non-diversified, closed-end investment company. The Company's investment objective is long-term capital appreciation primarily through investing in companies engaged in the exploration for, development of projects or mining of precious metals and minerals. The Company invests approximately 80% of its total assets in common shares or securities convertible into common shares of companies engaged, directly or indirectly, in the exploration, mining or processing of gold, silver, platinum, diamonds or other precious minerals; held as bullion or other direct forms of gold, silver, platinum or other precious minerals; in instruments representing interests in gold, silver, platinum or other precious minerals, and/or in securities of investment companies, including exchange traded funds, or other securities. The Company’s investment adviser is Merk Investments LLC.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Repurchase Program: The ASA board has reauthorized a share repurchase program allowing for the buyback of up to 5% of outstanding shares through April 2027, aimed at enhancing shareholder returns while capitalizing on market discounts.
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See More
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- Dividend Distribution Changes: ASA recently announced a $0.04 dividend distribution, an increase of $0.01 from the previous quarter, which may signal a strategic shift between growth and cash distribution in response to shareholder pressure.
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See More
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- Increased Holdings: Almitas Capital purchased an additional 143,527 shares of ASA in Q1 2026, with an estimated transaction value of $9.69 million, reflecting a strong bullish outlook on the precious metals market.
- Rising Position Value: The quarter-end value of ASA's holdings increased by $9.80 million to $32.61 million, demonstrating the dual impact of trading activity and share price movements.
- Investment Strategy: Over 93% of ASA's net assets are invested in mining stocks, indicating Almitas Capital's preference for leveraging mining companies to gain exposure to rising precious metals rather than investing directly in gold.
- Repurchase Program: The ASA board has reauthorized a share repurchase program allowing for the buyback of up to 5% of outstanding shares through April 2027, aimed at enhancing shareholder returns while capitalizing on market discounts.
See More
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- Increased Ownership: Following this acquisition, ASA's shares now represent 7.37% of Almitas Capital's assets under management, highlighting its significance in the precious metals investment portfolio and enhancing its market position.
- Outstanding Stock Performance: As of last Friday, ASA shares were priced at $59.54, reflecting a nearly 100% increase over the past year, significantly outperforming the S&P 500's 28% rise, suggesting optimistic market expectations for future growth.
- Supportive Buyback Plan: The ASA board reauthorized a share repurchase program in April, allowing for the buyback of up to 5% of outstanding shares when trading at a meaningful discount to net asset value, aimed at enhancing shareholder returns and boosting investor confidence.
See More
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Stock Sale Announcement: Alexander Merk intends to sell 303,810 shares of ASA Gold and Precious Metals Ltd. on April 20, with a total market value of approximately $20.73 million.
Reduction in Shareholding: Merk has reduced his shareholding in ASA Gold and Precious Metals Ltd. by 13,355 shares since February 19, 2026, with a total value of around $942.86K.
See More
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See More
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- Share Reduction Details: Twelve Points Wealth Management sold 143,737 shares of ASA Gold and Precious Metals Limited in Q1 2026, valued at approximately $9.71 million, indicating a strategic reassessment of this asset.
- Holding Proportion Change: Following the sale, ASA now represents 4.33% of the fund's 13F reportable AUM, down from 6.4% in the previous quarter, reflecting a shift in investment strategy.
- Stock Performance: As of April 13, 2026, ASA shares were priced at $68.07, marking a 128.9% increase over the past year, significantly outperforming the S&P 500 by 100 percentage points, showcasing its strong position in the precious metals market.
- Dividend Policy Shift: ASA recently announced a $0.04 dividend per share, up $0.01 from the previous quarter, which may indicate a strategic shift from growth to cash distribution in response to shareholder pressure.
See More
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- Share Reduction Transaction: Twelve Points Wealth Management LLC sold 143,737 shares of ASA in Q1, with an estimated transaction value of $9.71 million, reflecting the fund's strategic adjustments amid market volatility.
- Decline in Position Value: The quarter-end value of ASA decreased by $8.84 million, indicating the direct impact of trading activity and share price movements, resulting in ASA's allocation in the fund's AUM dropping from 6.4% to 4.33%.
- Dividend Distribution Changes: ASA recently announced a $0.04 dividend distribution, an increase of $0.01 from the previous quarter, which may signal a strategic shift between growth and cash distribution in response to shareholder pressure.
- Market Performance Analysis: Although ASA's share price has risen by 128.9% over the past year, it has declined approximately 16% from its March 27 high, prompting investors to cautiously evaluate future growth potential and changes in governance structure.
See More
