UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: December 31, 2008
Check here if Amendment [ ]; Amendment Number:
This Amendment (Check only one): [ ] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: ASA Limited
Address: 11 Summer Street, 4th floor, Buffalo, NY 14209-2256
Form 13F File Number: 28-11034
The institutional investment manager filing this report and the person by whom
it is signed hereby represent that the person signing the report is authorized
to submit it, that all information contained herein is true, correct and
complete, and that it is understood that all required items, statements,
schedules, lists, and tables, are considered integral parts of this form.
Person Signing this Report on Behalf of Reporting Manager:
Name: Robert J.A. Irwin
Title: Chairman, President & Treasurer
Phone: 716-883-2428
Signature, Place, and Date of Signing:
/s/ Robert J.A. Irwin Buffalo, New York February 10, 2009
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Report Type (Check only one):
[X] 13F HOLDINGS REPORT.(Check here if all holdings of this reporting
manager are reported in this report.)
[ ] 13F NOTICE. (Check here if no holdings reported in this report, and all
holdings are reported by other reporting manager(s).)
[ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for
this reporting manager are reported in this report and a portion are
reported by other reporting manager(s).)
Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 10
Form 13F Information Table Value Total: $237,316 (thousands)
List of Other Included Managers:
Provide a numbered list of the name(s) and Form 13f file number(s) of all
institutional investment managers with respect to which this report is filed,
other than the manager filing this report.
[If there are no entries in this list, state "NONE" and omit the column headings
and list entries.]
None
FORM 13F INFORMATION TABLE
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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Agnico-Eagle
Mines Limited Common Stock 008474108 30,798 600,000 SH Sole 600,000
Barrick Gold Common Stock 067901108 37,689 1,025,000 SH Sole 1,025,000
Corporation
Compania de Minas Sponsored ADR 204448104 29,063 1,459,000 SH Sole 1,459,000
Buenaventura
Goldcorp Inc. Common Stock 380956409 37,836 1,200,000 SH Sole 1,200,000
Harmony Gold Mining
Company Limited Sponsored ADR 413216300 5,519 503,100 SH Sole 503,100
Kinross Gold
Corporation Common Stock 496902404 13,815 750,000 SH Sole 750,000
Newmont Mining Common Stock 651639106 17,109 420,368 SH Sole 420,368
Corporation
NovaGold Note 66987EAA5 4,425 15,000,000 PRN Sole 15,000,000
Resources Inc.
Randgold ADR 752344309 48,079 1,094,700 SH Sole 1,094,700
Resources Limited
SPDR Gold Trust Gold Shares 78463V107 12,983 150,000 SH Sole 150,000