Report 
 
      
Registrant:   Asa Gold & Precious Metals Ltd. — List all N-SARs

Semi-Annual Report (at mid-year) for the 1st-half period ended:  5/31/18

Were there any Answer File errors in the Filing?  None FoundNone Found by SEC InfoNot Checked by the FilerOne or more Found by SEC Info
Was the Answer File completed by the Registrant?  Yes

Is this an Amendment to a previous Report?  No
Is this a change to a previous Report?      No
 
Registrant 
 
 1.
SEC CIK:      1230869
SEC File #:   811-21650

Telephone #:  650-376-3135
 
 2.
Address:      400 S. El Camino Real, Suite 710
              San Mateo, CA  94402
 
 3.
Is this the first Form N-SAR filed by the Registrant?  No
 
 4.
Is this the final Form N-SAR filed by the Registrant?  No
 
 
Funds/Series 
↑Top of Form N-SAR 
     
                                                                               
 7.
Is the Registrant a Funds/Series (multiple portfolios) company?  No
 
Administrator 
 
10.1
Name:         Alps Alternative Investment Services, LLC
Location:     Miami, FL
 
Shareholder Servicing/Transfer Agent 
 
12.1
Name:         Computershare Trust Co., NA
SEC File #:   085-11340
Location:     Jersey City, NJ
 
Independent Public Accountant 
 
13.1
Name:         Tait, Weller & Baker LLP
Location:     Philadelphia, PA
 
Custodian 
 
15.1
Name:         JPMorgan Chase Bank
Role:         Custodian
Location:     Brooklyn, NY

Type of custody:  Section 17(f)(1) — Bank
 
15.2
Name:         Firstrand Bank Ltd., Johannesburg
Role:         Sub-Custodian
Location:     Johannesburg
              South Africa

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.3
Name:         Canadian Imperial Bank of Commerce, Toronto
Role:         Sub-Custodian
Location:     Toronto
              Ontario Canada

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.4
Name:         JPMorgan Chase Bank, N.A., Sydney
Role:         Sub-Custodian
Location:     Sydney
              Australia

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.5
Name:         JPMorgan Chase Bank, N.A, Hong Kong
Role:         Sub-Custodian
Location:     Hong Kong

Type of custody:  Rule 17f-5 — Foreign Custodian
 
18.
Does the Registrant’s/Series’ Custodian(s) maintain some or all of the
Registrant’s/Series’ securities in a central depository or book-entry
system pursuant to Rule 17f-4?  Yes
 
Family of Investment Companies 
 
19.
Is the Registrant/Series part of a “family” of investment companies?  No
 
Brokerage Commissions Paid on Portfolio Transactions 
 
20.
The brokers who received the largest amount of gross brokerage
commissions during the period:
 
20.1
Broker:       Bmo Capital Markets
IRS #:        13-3459853
Commissions paid ($000s):  15
 
20.2
Broker:       RBC Capital Markets
IRS #:        13-5033325
Commissions paid ($000s):  7
 
20.3
Broker:       Desjardins Securites International
Commissions paid ($000s):  5
 
20.4
Broker:       Cibc World Markets
IRS #:        13-2798343
Commissions paid ($000s):  1
 
20.5
Broker:       Raymond James
Commissions paid ($000s):  1
 
21.
Total brokerage commissions paid by the Registrant during the period:
  Aggregate paid ($000s):  29
 
Portfolio Transactions with Entities Acting as Principals 
 
22.
The entities acting as principals with whom the Registrant did the
largest amount of portfolio transactions, based on total value of
principal, during the period:
 
22.1
Entity:       Bmo Capital Markets
IRS #:        13-3459853
Registrant’s purchases ($000s):  51
 
23.
Total purchase/sale transactions by the Registrant during the period:
   Aggregate purchases ($000s):  51
 
Holdings of Securities Issued by Registrant’s/Series’ Brokers or Dealers 
 
24.
At period end, did the Registrant/Series hold any securities of the
Registrant’s/Series’ regular brokers or dealers, or of the parents of
such brokers or dealers, that derive more than 15% of gross revenue from
securities-related activities?  No
 
Considerations which Affected the Participation of Brokers or Dealers 
 
26.
Considerations which affected the participation of brokers or dealers or
other entities in commissions or other compensation paid on portfolio
transactions of the Registrant:

Consideration?
Sales of the Registrant’s/Series’ shares ...............................  No
Receipt of investment research and statistical info ....................  Yes
Receipt of quotations for portfolio valuations .........................  No
Ability to execute portfolio transactions to obtain the best price
  and execution ........................................................  Yes
Receipt of telephone line and wire services ............................  No
Broker or Dealer which is an affiliated person .........................  No
An arrangement to return or credit part or all of commissions or
  profits thereon...
    To an Investment Adviser or Principal Underwriter, or to an
      affiliated person of either ......................................  No
    To the Registrant ..................................................  No
Other ..................................................................  No
 
Investment Company Type 
 
27.
Is the Registrant an “open-end” investment company?  No, Closed-End
 
Advisory Fee 
 
45.
Did the Registrant/Series have an advisory contract during the period?  No
 
Miscellaneous Info 
 
55.
Did the Registrant/Series have any of the following outstanding at any
time during the period which exceeded 1% of aggregate net assets:
    Overdrafts?  No
    Bank loans?  No
 
56.
During the period, did the Registrant’s/Series’ Investment Adviser(s)
have advisory clients other than investment companies?  No
 
57.
Did the Registrant/Series adjust the number of its shares outstanding by
means of a stock split or stock dividend?  No
 
Classification and Asset Allocation 
 
58.
Is the Registrant/Series a Separate Account of an insurance company?  No
 
59.
Is the Registrant/Series a management investment company?  Yes
 
60.
Was the Registrant/Series a diversified investment company at any time
during the period?  No

Was the Registrant/Series a diversified investment company at the end of
the period?  No
 
61.
The lowest minimum initial investment required by the Registrant/Series
from an investor that is not an employee or otherwise affiliated with
the Registrant/Series, its Investment Adviser, Principal Underwriter or
other affiliated entity:  $0
 
62.
Does the Registrant/Series invest primarily in debt securities,
including convertible debt securities, options & futures on debt
securities or indices of debt securities?  No
 
66.
Is the Registrant/Series a Fund that usually invests in equity
securities, options & futures on equity securities, indices of equity
securities or securities convertible into equity securities?  Yes

Which best describes its primary investment objective:

    Aggressive capital appreciation?  No
               Capital appreciation?  Yes
    Growth?                           No
    Growth and income?                No
               Income?                No
    Total return?                     No
 
67.
Is the Registrant/Series a “balanced” Fund?  No
 
68.
Does the Registrant/Series have more than 50% of its net assets at
period end invested in the securities of issuers...
    Engaged primarily in production or distribution of precious metals?  Yes
    Located primarily in countries other than the United States?  Yes
 
69.
Is the Registrant/Series an index Fund?  No
 
Investment Practices 
 
70.
Activities that are permitted by the Registrant’s/Series’ investment
policies, and which were engaged in during the period:

Activity                                            Permitted Engaged In
Writing or investing in repurchase agreements?           Yes      No
Writing or investing in options on equities?             Yes      No
Writing or investing in options on debt securities?      No        –
Writing or investing in options on stock indices?        Yes      No
Writing or investing in interest rate futures?           No        –
Writing or investing in stock index futures?             No        –
Writing or investing in options on futures?              No        –
Writing or investing in options on stock index futures?  No        –
Writing or investing in other commodity futures?         No        –
Investments in restricted securities?                    Yes to both
Investments in shares of other investment companies?     Yes      No
Investments in securities of foreign issuers?            Yes to both
Currency exchange transactions?                          Yes to both
Loaning portfolio securities?                            No        –
Borrowing of money?                                      Yes      No
Purchases/sales by certain exempted affiliated persons?  No        –
Margin purchases?                                        No        –
Short selling?                                           No        –
 
Portfolio Turnover 
 
71.
Portfolio turnover rate for the period:
 
Purchases ($000s):  3,986
Sales ($000s):      3,846

Monthly average Value of portfolio ($000s):  236,964

Percent turnover (lesser of Purchases or Sales, divided by Value):  2%
 
Financial Info — Income and Expenses 
 
72.
The number of months covered by the values in Items 72 and 73:  6

Income  ($000s)
Net interest income ..............................................
 –
Net dividend income ..............................................
 1,014
Account maintenance fees .........................................
 –
Net other income .................................................
 –

Expenses  ($000s)
Advisory fees ....................................................
 –
Administrator fees ...............................................
 83
Salaries and other compensation ..................................
 824
Shareholder Servicing Agent fees .................................
 27
Custodian fees ...................................................
 38
Postage ..........................................................
 7
Printing expenses ................................................
 45
Directors’ fees ..................................................
 150
Registration fees ................................................
 5
Taxes ............................................................
 –
Interest .........................................................
 –
Bookkeeping fees paid to anyone performing this service ..........
 –
Auditing fees ....................................................
 28
Legal fees .......................................................
 73
Marketing/distribution payments, incl. Rule 12b-1 plan payments ..
 –
Amortization of organization expenses ............................
 –
Shareholder meeting expenses .....................................
 4
Other expenses ...................................................
 296
Total expenses ...................................................
 1,580

Expense reimbursements ($000s):   0

Net investment income ($000s):    -567
Realized capital losses ($000s):  5,702
Net unrealized depreciation during the period ($000s):  3,923

Total income dividends for which the record date passed during the
period ($000s):  386

Total capital gains distributions for which the record date passed
during the period ($000s):  0
 
73.
Distributions per share for which the record date passed during the
period, shown in fractions of a cent, if so declared:

Dividends from net investment income:    $0.0200

Distribution of capital gains:  $0.0000
Other distributions:            $0.0000
 
Financial Info — Condensed Balance Sheet Data 
 
74.
Assets  ($000s)
Cash .............................................................
 2,951
Repurchase agreements ............................................
 –
Short-term debt securities, other than repurchase agreements .....
 –
Long-term debt securities, including convertible debt ............
 –
Preferred, conv. preferred and adjustable-rate preferred stock ...
 –
Common stock .....................................................
 231,506
Options on equities ..............................................
 –
Options on all futures ...........................................
 –
Other investments ................................................
 –
Receivables from portfolio instruments sold ......................
 –
Receivables from affiliated persons ..............................
 –
Other receivables ................................................
 62
All other assets .................................................
 120
Total assets .....................................................
 234,639

Liabilities  ($000s)
Payables for portfolio instruments purchased .....................
 –
Amounts owed to affiliated persons ...............................
 439
Senior long-term debt ............................................
 –
Other liabilities:
  Reverse repurchase agreements ..................................
 –
  Short sales ....................................................
 –
  Written options ................................................
 –
  All other liabilities ..........................................
 576

Equity  ($000s)
Senior equity ....................................................
 –
Net assets of common shareholders ................................
 233,624

Number of shares outstanding (000s):   19,290

Net Asset Value (NAV) per share (to nearest cent):  $12.11

Total number of shareholder accounts:  1,028

Total value of assets in segregated accounts ($000s):  0
 
75.
Monthly average net assets during the period ($000s):  240,790
 
76.
Market price per share at period end:  $10.40
 
Additional Disclosures 
 
77.
Did the Registrant file any additional Exhibits with the filing of this
Report (listed here and filed either herewith — as one of the ‘EX-99.*’
↑Exhibits in this Filing — or separately and incorporated by reference)?  Yes

EX-99.77C:  Matters Submitted to a Vote of Security Holders?  Yes

EX-99.77Q1: Other Disclosure?  Yes

EX-99.77Q3: Other Info?  Yes
 
Subsidiaries 
 
78.
Does the Registrant have any wholly-owned investment company
subsidiaries whose operating and financial data are consolidated with
that of the Registrant in this Report?  No
 
Sales, Repurchases and Redemptions 
 
86.
Sales, repurchases and redemptions of the Registrant’s securities:
 
Common Stock
Sales:
    Number of shares (000s):   0
    Net consideration received ($000s):  0
Repurchases:
    Number of shares (000s):   0
    Net consideration paid ($000s):      0

Preferred Stock
Sales:
    Number of shares (000s):   0
    Net consideration received ($000s):  0
Repurchases and redemptions:
    Number of shares (000s):   0
    Net consideration paid ($000s):      0

Debt Securities
Sales:
    Principal amount ($000s):  0
    Net consideration received ($000s):  0
Repurchases and redemptions:
    Principal amount ($000s):  0
    Net consideration paid ($000s):      0
 
Securities Outstanding 
 
87.
Securities of the Registrant that are registered on a national
securities exchange or listed on Nasdaq:
 
Title of class:  Common Shares
    CUSIP/CINS:  G3156P·10·3
        Symbol:  ASA
 
88.
Did the Registrant have any of the following outstanding which exceeded
1% of aggregate net assets at any time during the period:

Notes or bonds?     No
Uncovered options?  No
Margin loans?       No
Preferred stock?    No
 
 Signature 
 
↑Top of Form N-SAR 
     
                                                                               
/s/      David Lin      
Name:   David Lin
Title:  Chief Financial Officer