ASA Gold and Precious Metals

ASA Gold and Precious Metals as of Dec. 31, 2011

Portfolio Holdings for ASA Gold and Precious Metals

ASA Gold and Precious Metals holds 0 positions in its portfolio as reported in the December 2011 quarterly 13F filing

                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
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{S}                        {C}          {C}       {C}        {C}      {C}   {C}    {C}          {C}          {C}     {C}       {C}
Agnico-Eagle
  Mines Ltd           COM           008474108   16,500     454,300   SH           Sole                     454,300

Barrick Gold
  Corp                COM           067901108   56,563   1,250,000   SH           Sole                   1,250,000

Compania de Minas     Sponsored
  Buenaventura        ADR           204448104   34,851     909,000   SH           Sole                     909,000

Eldorado Gold
  Corp.               COM           284902103    8,912     650,000   SH           Sole                     650,000

ETFS Palladium
  Trust               Sh Ben Int    26923A106    2,583      40,000   SH           Sole                      40,000

ETFS Platinum
  Trust               SH Ben Int    26922V101    1,378      10,000   SH           Sole                      10,000

Freeport-McMoran
  Copper & Gold       COM           35671D857    3,679     100,000   SH           Sole                     100,000

Franco-Nevada
  Corp.               COM           351858105    4,745     125,000   SH           Sole                     125,000

Goldcorp Inc. New     COM           380956409   47,896   1,082,400   SH           Sole                   1,082,400

IAMGOLD Corp          COM           450913108    9,510     600,000   SH           Sole                     600,000

Kinross Gold          COM
  Corp                              496902404   15,105   1,325,000   SH           Sole                   1,325,000

Lake Shore Gold
  Corp.               COM           510728108    1,879   1,500,000   SH           Sole                   1,500,000

Newmont Mining
  Corp                COM           651639106   31,227     520,368   SH           Sole                     520,368

NovaGold              COM           66987E206   12,594   1,485,168   SH           Sole                   1,485,168
  Res Inc.

Randgold              ADR           752344309   50,509     494,700   SH           Sole                     494,700
  Res Ltd

Royal Gold Inc.       COM           780287108   14,160     210,000   SH           Sole                     210,000