UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: December 31, 2010
Check here if Amendment [ ]; Amendment Number:
This Amendment (Check only one): [ ] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: ASA Limited
Address: 400 S. El Camino Real, Suite 710,
San Mateo, CA 94402-1708
Form 13F File Number: 28-11034
The institutional investment manager filing this report and the person by whom
it is signed hereby represent that the person signing the report is authorized
to submit it, that all information contained herein is true, correct and
complete, and that it is understood that all required items, statements,
schedules, lists, and tables, are considered integral parts of this form.
Person Signing this Report on Behalf of Reporting Manager:
Name: Rodney D. Yee
Title: Chief Operating Officer, Chief Financial Officer & Treasurer
Phone: 650-376-3135
Signature, Place, and Date of Signing:
/s/ RODNEY YEE SAN MATEO, CA FEBRUARY 7, 2011
---------------------------- ----------------------------- -------------------
[Signature] [City, State] [Date]
Report Type (Check only one):
[X] 13F HOLDINGS REPORT.(Check here if all holdings of this
reporting manager are reported in this report.)
[ ] 13F NOTICE. (Check here if no holdings reported in this report, and all
holdings are reported by other reporting manager(s).)
[ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for
this reporting manager are reported in this report and a portion are
reported by other reporting manager(s).)
Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 16
Form 13F Information Table Value Total: $399,462 (thousands)
List of Other Included Managers:
Provide a numbered list of the name(s) and Form 13f file number(s) of all
institutional investment managers with respect to which this report is filed,
other than the manager filing this report.
[If there are no entries in this list, state "NONE" and omit the column
headings and list entries.]
None
FORM 13F INFORMATION TABLE
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
-------- -------- -------- -------- -------- -------- -------- --------
TITLE VALUE SHARES/ SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
------------------------------------------------------------------------------------------------------------------------------------
Agnico-Eagle
Mines Ltd COM 008474108 40,268 525,000 SH Sole 525,000
Barrick Gold
Corp COM 067901108 69,134 1,300,000 SH Sole 1,300,000
Compania de Minas Sponsored
Buenaventura ADR 204448104 46,953 959,000 SH Sole 959,000
Eldorado Gold
Corp. COM 284902103 12,071 650,000 SH Sole 650,000
ETFS Palladium
Trust Sh Ben Int 26923A106 3,194 40,000 SH Sole 40,000
ETFS Platinum
Trust SH Ben Int 26922V101 1,761 10,000 SH Sole 10,000
Goldcorp Inc. New COM 380956409 49,769 1,082,400 SH Sole 1,082,400
Golden Star
Res Ltd CDA COM 38119T104 3,443 750,000 SH Sole 750,000
IAMGOLD Corp COM 450913108 10,680 600,000 SH Sole 600,000
Kinross Gold COM
Corp No Par 496902404 21,330 1,125,000 SH Sole 1,125,000
Newmont Mining
Corp COM 651639106 31,966 520,368 SH Sole 520,368
NovaGold Note 5.5% 5/0 66987EAA5 7,850 5,000,000 PRN Sole 5,000,000
Res Inc.
NovaGold COM New 66987E206 32,931 2,307,691 SH Sole 2,307,691
Res Inc.
Randgold ADR 752344309 48,962 594,700 SH Sole 594,700
Res Ltd
Royal Gold Inc. COM 780287108 11,472 210,000 SH Sole 210,000
Yamana Gold Inc. COM 98462Y100 7,680 600,000 SH Sole 600,000