UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-PX
ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT
INVESTMENT COMPANY
Investment Company Act File Number 811-04010
OCM Mutual Fund
1536 Holmes Street
Livermore, CA 94550
(Address of principal executive offices)
OCM Mutual Fund
Attn: Greg Orrell
1536 Holmes Street
Livermore, CA 94550
(Name and address of agent for service)
Registrant's telephone number, including area code: (925) 455-0802
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Date of fiscal year end: November 30
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Date of reporting period: July 1, 2005 through June 30, 2006
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ITEM 1. PROXY VOTING RECORD
July 1, 2005 - June 30, 2006
ORRELL CAPITAL MANAGEMENT, INC. PROXY VOTING SUMMARY
COMPANY NAME COMPANY CUSIP/ SHAREHOLDER DESCRIBE THE PROPOSED BY DID ORRELL HOW DID VOTE CAST
TICKER SEDOL MEETING MATTER VOTED ON COMPANY OR CAPITAL ORREL FOR
SYMBOL NUMBER DATE SECURITY VOTE? CAPITAL OR AGAINST
VOTE? MANAGEMENT?
Birim Goldfields, Inc. BGI 090878109 8/4/2005 Elect directors, Company No
appoint auditors,
authorize amendment
to stock option plan,
increase issuable
shares to 5,168,000
(9.9%) outstanding
Geodex Minerals, Ltd. GXM 371937103 9/9/2005 Appoint auditor, fix Company Yes For For
number of directors
to four; elect directors;
approve resolution
to Articles; increase
common shares from
100,000,000 to an
unlimited number of
Class A Preference
shares without par
value; approve company
stock option plan.
rolling 10% stock
option plan.
Aquiline AQI 03839N100 9/30/2005 Elect directors; Company Yes For For
Resources, Inc. appoint auditors;
stock option plan;
approval of amendment
to the Corporation's
shareholder rights
plan
Mexgold Resources, Inc. MGR 592776108 10/12/2005 Elect directors; Company Yes For For
appoint auditors;
Resolution increasing
maximum number of
common shares; approval
of stock option plan
Harmony Gold Mining HMY 413216300 11/4/2005 Adoption of 04/05
Co. Ltd. audited financial
state. Company Yes For For
Fix renumeration of
directors For For
Reelect and elect
directors For For
Granting authority for
share purchases For For
Amending clause of
2003 share option scheme Against Against
Placing 20% unissued
shares under
director's control For For
Authorizing directors
to issue shares for cash For For
Royal Gold, Inc. RGLD 780287108 11/9/2005 Elect directors Company Yes For For
ratify appointment
of Auditors for 2005/06
Resolute Mining Ltd. RSU.AU 641063 11/14/2005 Exercise options to Company Yes Abstain Abstain
subscribe for shares
in Valhalla Uranium
Gold Fields Ltd. ADR GFI 38059T106 11/17/2005 Elect Directors; Company Yes For For
adoption of financials
Placement of shares under
control of directors,
issuing shares for
cash, adoption
of the Gold Fields
limited share plan;
Placement of
unissued shares
under control of
directors;
placement of
unissued shares
under control of
directors for
mgt. incentive
scheme,
approved at
shareholders
meeting increase
directors fees;
acquisition of
company's own
shares; award of
rights in terms
of the GFI 2005
non-executive
share plan.
Barrick Gold Corp. ABX 067901108 12/19/2005 Barrick takeover Company Yes Option 3 Option 3
of Placer Dome
3 options: 1. take
no action; 2. cash out
20.50 per share; 3.
.05 per share in cash
and .8269 of a share
in Barrick Gold
Goldcorp, Inc. GG 380956409 3/19/2006 1. Elect directors; Company Yes For For
2. Determine number of
directors; 3. Appoint
Deloitte & Touche as
auditors; 4. Resolution
confirming new By-
Law; 5. Approve issuance
of 8,681,890
common share purchase
warrants.
Compania De Minas BVN 204448104 3/30/2006 1. Approval of Annual Company Yes For For
Buenaventura S.A. Report, Balance
Sheet, Profit & Loss,
Financial Statements
2. Delegation to
audit committee,
external
auditors for
year 2006.
3. Distribution
of dividends
Desert Sun Mining Corp. DSM 25043V107 3/31/2006 1. Elect directors; Company Yes For For
2. Appoint auditors;
3. Approve Arrangement
resolution
AngloGold Ashanti AU 035128206 4/10/2006 1. Elect directors; Company Yes For For
Ltd. ADR 2. Resolution to issue
securities for cash;
3. Director's authority
allot and issue shares
for cash subject
to specific authority
Mundoro Mining, Inc. MUN 626136105 4/20/2006 1. Appoint Ernst & Company Yes For For
Young as auditor
2. Determine number
of directors at six;
3. Elect directors.
Silver Wheaton Corp. SLW 828336107 4/20/2006 1. Election of Company Yes For For
directors; 2. Appoint
Deloitte & Touche
as auditors
Newmont Mining Corp. NEM 651639106 4/25/2006 1. Elect directors; Company Yes For For
2. Ratify appointment
of auditors; 3. Yes Against Against
Stockholder proposal Shareholder
regarding independent proposal
board chairman
Viceroy VYE 925621104 4/28/2006 1.Elect directors; Company Yes For For
Exploration Ltd. 2. Appoint Price-
waterhouse as
auditors; 3. Approve
shareholder rights plan.
Randgold Resources GOLD 752344309 5/2/2006 1. Elect officers; Company Yes For For
Ltd. ADR 2. Adoption of
remuneration committee;
3. Approve fees Price-
waterhouse Coopers as
auditors; 5.
Authorize
purchase of
shares for cash.
Cambior, Inc. CBJ 13201L103 5/3/2006 1. Elect directors; Company Yes For For
2. Appoint auditors;
3. Approval of
shareholder's right's plan
Freeport-McMoRan Copper FCX 35671D857 5/4/2006 1. Elect directors; Company Yes For For
2. Approve Ernst &
& Gold,Inc. Young as auditors;
3. Approve 2006
stock incentive
plan; 4.
Stockholder
proposal
regarding review
of policies
relating to
financial
support of
Indonesian
Government
security
personnel.
Eldorado Gold Corp. EGO 284902103 5/4/2006 1. Fix number of directors Company Yes For For
at 7; 2. Elect directors;
3. Appoint auditors; 4. Fix
auditors remuneration;
4. Pass Ordinary
resolution.
Barrick Gold Corp. ABX 067901108 5/4/2006 1. Elect directors; Company Yes For For
2. Approve Price-
Waterhouse as
auditors; 3. Approve
Resolution.
Hecla Mining Co. HL 422704106 5/5/2006 1. Elect directors; Company Yes For For
2. Proposal to
number of shares
from 200,000,000 to
400,000,000; 3.
Adoption of employee
stock purchase plan.
AngloGold Ashanti AU 035128206 5/5/2006 1. Elect directors; Company Yes For For
Ltd. ADR 2. Adoption of financial
statements; 3. Placement
of unissued shares under
control of directors;
4. Authority to issue
shares for cash; 5.
Approval of remuneration
of the company
president as non-executive
director; 6. Authority
to acquire the Company's
own shares.
Coeur d'Alene CDE 192108108 5/9/2006 1. Elect directors; Company Yes For For
Mines Corp. 2. Approve appointment
of KPMG as auditors.
Goldcorp, G-WA 380956144 5/9/2006 Resolution approving Company Yes For For
Inc. - CW07 the entering by
the Company of a
supplemental warrant
endenture with CIBC
Mellon Trust Company
of Canada
Glencarin Gold Corp. GLE 377903109 5/10/2006 1. Elect directors; Company Yes For For
2. Appoint auditors
Meridian Gold, Inc. MDG 589975101 5/16/2006 1. Elect directors; Company Yes For For
2. Appoint KPMG
International Royalty IRC 460277106 5/18/2006 1. Elect directors; Company Yes For For
Corp. 2. Approve appointment
of Price Waterhouse as
auditors; 3.
Approval of special
resolution changing
location of Corp. from
Ontario to Alberta
IAMGOLD Corp. IAG 450913108 5/23/2006 1.Special resolution Company Yes For For
authorizing corp.
to increase maximum
number of directors
from 10 to 12; 2.
Elect directors;
3.Appoint
KPMG as auditors.
Apollo Gold Corp. AGT 03761E102 5/24/2006 1.Elect directors; Company Yes For For
2. Appoint Audit
Amendments to stock
option plan.
Golden Star GSS 38119T104 5/26/2006 1. Elect directors; Company Yes For For
Resources Ltd. 2. Appoint Pricewater-
houseCoopers as auditors
and authorize
directors to fix
remuneration; 3. Pass
resolution to amend
By-Laws.
Anatolia Minerals ANO 032900102 5/31/2006 1. Elect directors; Company Yes For For
Development Ltd. 2. Appointment
Pricewater-
houseCoopers as
auditors auth-
orizing directors
to fix remuneration.
Golden Cycle Gold Corp. GCGC 380894105 6/6/2006 1. Elect directors; Company Yes For For
2. Appoint Ehrhardt,
Keefe, Steiner &
Hottman as auditors
Apex Silver Mines Ltd. SIL G04074103 6/8/2006 1. Elect directors; Company Yes For For
Ratification of
Price-
waterhouseCoopers
LLP as auditors.
Mag Silver Corp. MAG 55903Q104 6/13/2006 1.Appoint Deloitte Company Yes For For
& Touche as auditors;
2. Set number of
directors at five;
3. Elect directors;
4. Re-approve
stock option plan
Mexgold MGRSF 592776108 6/14/2006 1. Fix number of Company Yes For For
Resources, Inc. directors at 6; 2. Elect
directors; 3. Re-appoint
McGovern, Hurley,
Cunningham as auditors
and authorize
directors to fix
remuneration; 4.
Resolution author.
directors to fix number
of directors
to be elected at each
shareholder's meet.;
5. Resolution increasing
common shares
by 2,233,780 reserved
for grants of options
6.Resolution confirming
amendment to by-laws
requiring forum
requirements for
meetings. 4. Approve
stock option plan;
5. Approve resolution
amending by-laws
of corporation.
Amarillo Gold Corp. AGC 02301T108 6/21/2006 1. Determine number Company Yes For For
of directors at 5;
2. Elect directors;
3. Re-appoint Cooper-
Molyneux, LLP as
auditors, authorize
directors to fix
remuneration; 4.
Approve resolution to
increase authorized
100,000,000 common
shares without par
value to unlimited
number of shares;
5. Approve adoption
of incentive stock
option plan
Cumberland CLG 23077R100 6/22/2006 1. Determine number Company Yes For For
Resources Ltd. of directors at 7;
2. Elect directors;
3. Appoint Ernst &
Young as auditors;
4. Fix terms of
individual directors.
African Gold AGG 00829A106 6/28/2006 1. Elect directors; Company Yes For For
Group, Inc. 2. Re-appoint BDO
Dunwoody LLP as
auditors, authorize
directors to fix
remuneration.
Aquiline AQI 03839N100 6/29/2006 1. Elect directors; Company Yes For For
Resources, Inc. 2. Re-appoint Grant
Tjornton LLP as
auditors and authorize
directors to fix
remuneration; 3.
Resolution
ratifying continued
existence of Rights
distributed to
shareholders.
Birim Goldfields, Inc. BGI 090878109 7/5/2006 1. Elect directors; Company Yes For For
2. Appoint Price-
waterhouseCoopers,
LLP as auditors and
authorize directors
to fix remuneration.
3. Authorize private
placement of a total
of 3,676,627 units
of the Corporation.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.
OCM Mutual Fund
/s/ Gregory M. Orrell
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Gregory M. Orrell
President
August 21, 2006