N-2 | | 12 Months Ended |
Nov. 30, 2024 $ / shares shares | Nov. 30, 2024 $ / shares |
Prospectus [Line Items] | | |
Document Period End Date | | Nov. 30, 2024 |
Cover [Abstract] | | |
Entity Central Index Key | | 0001230869 |
Amendment Flag | | false |
Entity Inv Company Type | | N-2 |
Document Type | | N-CSR |
Entity Registrant Name | | ASA GOLD AND PRECIOUS METALS LIMITED |
Other Transaction Expenses [Abstract] | | |
Management Fees [Percent] | | 0.70% |
Other Annual Expenses [Abstract] | | |
Other Transaction Fees, Note [Text Block] | | Computershare Trust Company, N.A. (“Computershare”) has been authorized by the Company to offer and administer the Computershare Investment Plan, a dividend reinvestment and stock purchase plan (“CIP”) to shareholders as well as new investors or non-shareholders. Shareholders and new investors may elect to participate in the CIP by signing an enrollment form or by going to www.computershare.com/investor Computershare may combine CIP participant purchase requests with other purchase requests received from other CIP participants and may submit the combined purchase requests in bulk to Computershare’s broker as a single purchase order. Purchase requests may be combined, at Computershare’s discretion, according to one or more factors such as purchase type (e.g., dividend reinvestment, one-time ACH, check, etc.), request date, or request delivery method (e.g., online, regular mail, etc.). Computershare will submit bulk purchase orders to its broker as and when required under the terms of the CIP. Computershare’s broker may execute each bulk purchase order in one or more transactions over one or more days, depending on market conditions. Each participant whose purchase request is included in each bulk purchase order will receive the weighted average market price of all shares purchased by Computershare’s broker for such order. Any stock dividends or split shares distributed on shares held in the CIP will be credited to the participant’s account. A one-time $10 enrollment fee to establish a new account for a new investor or non-shareholder will be deducted from the purchase amount. For each participant, each dividend reinvestment will entail a transaction fee of 5% of the amount reinvested, up to a maximum of $3 plus $0.03 per share purchased. Each optional cash purchase by check or one-time online bank debit will entail a transaction fee of $5 plus $0.03 per share purchased. If a participant has funds automatically deducted monthly from his or her savings or checking account, for each debit the transaction fee is $2.50 plus $0.03 per share purchased. Fees will be deducted from the purchase amount. Each batch order sale will entail a transaction fee of $15 plus $0.12 per share sold. Each market order sale will entail a transaction fee of $25 plus $0.12 per share sold. Fees are deducted from the proceeds derived from the sale. All per share fees include any brokerage commissions Computershare is required to pay. Any fractional share will be rounded up to a whole share for purposes of calculating the per share fee. Additional fees are charged by Computershare for specific shareholder requests such as copies of account statements for prior years ($10 per year requested) and a returned check and ACH reject fee of $25. Participation in the CIP may be terminated by a participant at any time by written, telephone or Internet instructions to Computershare. Upon termination, a participant will receive a certificate for the whole number of shares credited to his or her account, unless he or she requests the sale of all or part of such shares. Dividends reinvested by a shareholder under the CIP will generally be treated for U.S. federal income tax purposes in the same manner as dividends paid to such shareholder in cash. See “Certain Tax Information for U.S. Shareholders” for more information regarding tax consequences of an investment in shares of the Company, including the effect of the Company’s status as a PFIC. The amount of the service charge is deductible for U.S. federal income tax purposes, subject to limitations. To participate in the CIP, shareholders may not hold their shares in a “street name” brokerage account. Additional information regarding the CIP may be obtained from Computershare, P.O. Box 505000, Louisville, KY 40233-5000. Information may also be obtained on the Internet at www.computershare.com/investor or by calling Computershare’s Telephone Response Center at (800) 317-4445 between 9:00 a.m. and 5:00 p.m., Eastern time, Monday through Friday. |
Other Expenses, Note [Text Block] | | 4. Fees and Expenses and Other Transactions with Affiliates Investment Adviser – Merk Investments LLC (the “Adviser”) is the investment adviser to the Company. Pursuant to an investment advisory agreement, the Adviser receives an advisory fee, payable monthly, from the Company at an annual rate of 0.70% The Adviser voluntarily agreed to waive a portion of its advisory fee, equal to an annual rate of 0.05% of the Company’s net assets exceeding $300 million, and an additional 0.10% of the Company’s net assets exceeding $500 million. In addition, the Adviser voluntarily agreed to waive a portion of its advisory fee, equal to an annual rate of 0.05% of the Company’s net assets exceeding $100 million and less than $300 million, effective for the period April 1, 2024 through March 31, 2025. This voluntary waiver is separate from, and in addition to the Adviser’s ongoing waiver arrangement. The Adviser may waive additional fees at any time. The Adviser waived $111,329 for the year ended November 30, 2024. Other Service Providers – Apex US Holdings LLC (d/b/a Apex Fund Services) (“Apex”) provides fund accounting, fund administration and compliance services to the Company. The fees related to these services are included in fund services fees within the Statement of Operations. Apex also provides certain shareholder report production and EDGAR conversion and filing services. Pursuant to an Apex services agreement, the Company pays Apex customary fees for its services. Apex provides a Principal Financial Officer, as well as certain additional compliance support functions. Foreside Fund Services, LLC, a wholly owned subsidiary of ACA Group, provides a Chief Compliance Officer to the Extraordinary Expenses –The accompanying Statement of Operations sets forth extraordinary expenses incurred by the Company. The Company incurred extraordinary expenses related to the adoption of limited-duration shareholder rights plans. The Company also incurred extraordinary expenses, including legal expenses, in connection with a proxy contest initiated by a shareholder of the Company. Late in the fiscal year ended November 30, 2024, the Company began to incur additional extraordinary expenses based on indemnity demands, initially from the New Directors, as defined in Note 9, and subsequently the Legacy Directors, as defined in Note 9, for material legal expenses incurred by their respective counsel. These expenses are expected to continue. See also Note 9. |
General Description of Registrant [Abstract] | | |
Investment Objectives and Practices [Text Block] | | Investment Objective The Company’s investment objective is long-term capital appreciation through investment primarily in companies engaged in the exploration for, development of projects or mining of precious metals and minerals. Investment Strategy It is a fundamental policy of the Company that at least 80% of its total assets must be (i) invested in common shares or securities convertible into common shares of companies engaged, directly or indirectly, in the exploration, mining or processing of gold, silver, platinum, diamonds or other precious minerals, (ii) held as bullion or other direct forms of gold, silver, platinum or other precious minerals, (iii) invested in instruments representing interests in gold, silver, platinum or other precious minerals such as certificates of deposit therefor, and/or (iv) invested in securities of investment companies, including exchange traded funds, or other securities that seek to replicate the price movement of gold, silver or platinum bullion. The Company employs bottom-up fundamental analysis and relies on detailed primary research including meetings with company executives, site visits to key operating assets, and proprietary financial analysis in making its investment decisions. |
Risk Factors [Table Text Block] | | Risks The following discussion summarizes certain (but not all) of the principal risks associated with investing in the Company. The Company may be subject to other risks in addition to those identified below, such as the risks associated with its tax status as a PFIC (see Note 3) and its reliance on an SEC exemptive order (see Note 5). The risk factors set forth in the following are described in no particular order and the order of the risk factors is not necessarily indicative of significance. The relative importance of, or potential exposure as a result of, each of these risks will vary based on market and other investment-specific considerations. Concentration Risk. Gold and Precious Metals/Minerals Risk. Foreign Securities Risk/Emerging Markets Risk. Geographic Investment Risk. Canada Risk. Junior and Intermediate Mining Companies Risk. Private Placement Risk. Restricted Security Risk. Depositary Receipts Risk. Warrants Risk. Market Discount from Net Asset Value. Valuation Risk. Market Events Risk. Governance Risk. |
Concentration Risk [Member] | | |
General Description of Registrant [Abstract] | | |
Risk [Text Block] | | Concentration Risk. |
Gold and Precious Metals/Minerals Risk [Member] | | |
General Description of Registrant [Abstract] | | |
Risk [Text Block] | | Gold and Precious Metals/Minerals Risk. |
Foreign Securities Risk/Emerging Markets Risk [Member] | | |
General Description of Registrant [Abstract] | | |
Risk [Text Block] | | Foreign Securities Risk/Emerging Markets Risk. |
Geographic Investment Risk [Member] | | |
General Description of Registrant [Abstract] | | |
Risk [Text Block] | | Geographic Investment Risk. |
Canada Risk [Member] | | |
General Description of Registrant [Abstract] | | |
Risk [Text Block] | | Canada Risk. |
Junior and Intermediate Mining Companies Risk [Member] | | |
General Description of Registrant [Abstract] | | |
Risk [Text Block] | | Junior and Intermediate Mining Companies Risk. |
Private Placement Risk [Member] | | |
General Description of Registrant [Abstract] | | |
Risk [Text Block] | | Private Placement Risk. |
Restricted Security Risk [Member] | | |
General Description of Registrant [Abstract] | | |
Risk [Text Block] | | Restricted Security Risk. |
Depositary Receipts Risk [Member] | | |
General Description of Registrant [Abstract] | | |
Risk [Text Block] | | Depositary Receipts Risk. |
Warrants Risk [Member] | | |
General Description of Registrant [Abstract] | | |
Risk [Text Block] | | Warrants Risk. |
Market Discount from Net Asset Value [Member] | | |
General Description of Registrant [Abstract] | | |
Risk [Text Block] | | Market Discount from Net Asset Value. |
Valuation Risk [Member] | | |
General Description of Registrant [Abstract] | | |
Risk [Text Block] | | Valuation Risk. |
Market Events Risk [Member] | | |
General Description of Registrant [Abstract] | | |
Risk [Text Block] | | Market Events Risk. |
Governance Risk [Member] | | |
General Description of Registrant [Abstract] | | |
Risk [Text Block] | | Governance Risk. |
Common Stock [Member] | | |
General Description of Registrant [Abstract] | | |
Share Price | $ / shares | $ 20.39 | $ 20.39 |
NAV Per Share | $ / shares | $ 23.36 | $ 23.36 |
Latest Premium (Discount) to NAV [Percent] | (12.70%) | |
Capital Stock, Long-Term Debt, and Other Securities [Abstract] | | |
Outstanding Security, Authorized [Shares] | shares | 40,000,000 | |
Outstanding Security, Not Held [Shares] | shares | 19,015,312 | |