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: August 31, 2007
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ITEM 1. SCHEDULE OF INVESTMENTS
ASA Limited
Schedule of Investments (Unaudited)
August 31, 2007
Percent
Number of Net
Name of Company of Shares Market Value Assets
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GOLD INVESTMENTS
COMMON SHARES OF GOLD MINING COMPANIES
AUSTRALIA
Newcrest Mining Limited - ADRs 3,000,000 $ 60,115,650 8.8%
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CANADA
Agnico-Eagle Mines Limited 700,000 31,115,000 4.6
Barrick Gold Corporation 1,125,000 36,585,000 5.4
Goldcorp Inc. 1,500,000 35,355,000 5.2
Meridian Gold Inc. (1) 800,000 22,216,000 3.3
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125,271,000 18.5
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CHANNEL ISLANDS
Randgold Resources Limited - ADRs 1,450,000 34,727,500 5.1
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LATIN AMERICA
Compania de Minas Buenaventura - ADRs 900,000 34,407,000 5.1
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SOUTH AFRICA
AngloGold Ashanti Limited 1,745,894 68,142,243 10.1
Gold Fields Limited 4,409,977 66,855,251 9.9
Harmony Gold Mining Company Limited (1) 292,459 2,617,508 0.4
Harmony Gold Mining Company Limited-ADRs (1) 2,166,400 19,389,280 2.9
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157,004,282 23.3
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UNITED STATES
Newmont Mining Corporation 520,368 21,990,752 3.3
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Total gold mining companies (Cost - $196,178,379) 433,516,184 64.1
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EXCHANGE TRADED FUND - GOLD
UNITED STATES
streetTRACKS Gold Trust (1) 200,000 13,304,000 2.0
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Total exchange traded fund - gold
(Cost $13,340,000) 13,304,000 2.0
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Total gold investments (Cost $209,518,379) 446,820,184 66.1
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PLATINUM INVESTMENTS
COMMON SHARES OF PLATINUM MINING COMPANIES
SOUTH AFRICA
Anglo Platinum Limited 520,100 69,443,724 10.3
Impala Platinum Holdings Limited 1,722,400 51,129,607 7.6
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120,573,331 17.9
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UNITED KINGDOM
Lonmin PLC - ADRs 450,000 28,238,391 4.1
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Total platinum investments (Cost $17,814,290) 148,811,722 22.0
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OTHER INVESTMENTS
COMMON SHARES OF OTHER COMPANIES
SOUTH AFRICA
Mondi Limited 128,000 1,236,109 .2
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UNITED KINGDOM
Anglo American plc 1,164,800 66,820,294 9.9
Mondi plc 320,000 3,159,585 .5
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69,979,879 10.4
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Total other investments (Cost $9,354,683) 71,215,988 10.6
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Total investments (Cost $236,687,352) (2) 666,847,894 98.7
Cash, receivables and other assets less liabilities 8,902,015 1.3
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Net assets $675,749,909 100.0%
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(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, 2007 were $432,084,593 and $1,924,051,
respectively, resulting in net unrealized appreciation on investments of
$430,160,542.
ADR - American Depository Receipt
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
_______________________
Robert J.A. Irwin
Chairman of the Board, President and Treasurer
Date: September 17, 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
_______________________
Robert J.A. Irwin
Chairman of the Board, President and Treasurer
(Principal Executive Officer and
Principal Financial Officer)
Date: September 17, 2007