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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: re3 who wrote (8)	9/25/1999 7:54:00 AM
From: goldsheet	Read Replies (3) of 17

I have sent ASA email messages with various question and suggestions including the need for a more detailed portfolio breakdown, but have yet to receive a reply. The biggest problem I have is the way they calculate discount to NAV For example on September 21, they report; NAV = 20.73 Share Price = 18.81 Discount = 1.92 Percent = 10.2% Now, I only have a degree in Electrical Engineering and an MBA is Finance so I am not very good at this high power math, but the discount to NAV should be comparing the discount (1.92) to NAV (20.73), which to me look like 9.3%. They are reporting discount to market price 1.92/18.81=10.2%, which makes no sense to me, at all.

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