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 811-21650
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ASA LIMITED
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(Exact name of registrant as specified in charter)
11 SUMMER STREET, 4TH FLOOR, BUFFALO, NEW YORK 14209-2256
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(Address of principal executive offices) (Zip Code)
JPMorgan Chase Bank
3 Chase MetroTech Center
BROOKLYN, NY 11245
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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, 2007
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Date of reporting period: FEBRUARY 28, 2007
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Item 1. Schedule of Investments
ASA (Bermuda) Limited
Schedule of Investments (Unaudited)
February 28, 2007
Percent of
Name of Company Number of Shares Market Value Net Assets
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Ordinary Shares of Gold Mining Companies
Australia
Newcrest Mining Limited - ADRs 3,000,000 $ 53,294,670 7.8%
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Canada
Barrick Gold Corporation 925,000 27,629,750 4.0
Goldcorp Inc. 1,250,000 33,550,000 4.9
Meridian Gold Inc. (1) 800,000 21,952,000 3.2
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83,131,750 12.1
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Channel Islands
Randgold Resources Limited - ADRs 900,000 20,610,000 3.0
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Peru
Compania de Minas Buenaventura - ADRs 900,000 24,939,000 3.6
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South Africa
AngloGold Ashanti Limited 2,245,894 99,133,761 14.4
Gold Fields Limited 6,859,977 120,941,395 17.6
Harmony Gold Mining Company Limited (1) 292,459 4,047,633 0.6
Harmony Gold Mining Company Limited-ADRs (1) 2,166,400 29,982,976 4.4
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254,105,765 37.0
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United States
Newmont Mining Corporation 520,368 23,468,597 3.4
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Total ordinary shares of
gold mining companies (Cost - $150,067,400) 459,549,782 66.9
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Ordinary Shares of Other Mining Companies
South Africa
Anglo Platinum Limited 520,100 74,094,467 10.8
Impala Platinum Holdings Limited 1,722,400 49,075,297 7.1
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123,169,764 17.9
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United Kingdom
Anglo American plc 1,280,000 60,736,307 8.8
Lonmin PLC - ADRs 450,000 27,627,588 4.0
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88,363,895 12.8
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Total ordinary shares of
other mining companies (Cost - $25,909,431) 211,533,659 30.7
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Total investments (Cost - $175,976,831) (2) 671,083,441 97.6
Cash, receivables, deferred pension and other assets less liabilities 16,258,730 2.4
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Net Assets $687,342,171 100.0%
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ADR - American Depositary Receipt.
(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 February 28, 2007 were $495,541,104 and ($434,494),
respectively, resulting in net unrealized appreciation on investments of
$495,106,610.
ADR - American Depository Receipt
Note - Effective March 1, 2007 the Company's name was changed back to ASA
Limited.
Item 2. Controls and Procedures.
(a) The Chairman of the Board, President 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, President and Treasurer
Date: April 27, 2007
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, President and Treasurer
(Principal Executive Officer and
Principal Financial Officer)
Date: April 27, 2007