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Gold/Mining/Energy : ASA Limited

ASA 57.28

-1.0%

Dec 15 4:00 PM EST

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To: Ptaskmaster who wrote (3)	8/12/1999 5:20:00 PM
From: goldsheet	of 17

I will try to download the ASA annual report form their website (www.asaltd.com) and post the fees here. They also provide the daily NAV and discount, but I don't understand their math (and I have an MBA in Finance). With a NAV of $19.87, the NYSE price was $17.56, a discount of $2.31. Now a 2.31 discount on a NAV of 19.87 is 11.6%. For some reason they divide by the market price and claim the discount is 13.15% In the real world: If you pay $17.56 for a shirt that retails for $19.87, you are getting an 11.6% discount. As for AU and GOLD; AU - market cap of $5.3B and over 400m oz. of resources <$15/oz) GOLD - market cap of $1.8B and over 250m oz of resources (<$10/oz) Best Regards ..... Bob Johnson goldsheet.simplenet.com

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