On March 14, 2024, Saba Capital Management, LP announced that ASA Gold and Precious Metals Ltd currently trades at a -16.4% discount to its net asset value (NAV), the Company?s discount to NAV is worse than 93% of all closed-end funds; and hasn?t traded at its full value in over twenty years. Saba Capital added that instead of addressing the Company?s massive trading discount, the Board of Trustees intends to spend approximately $1.2 million of shareholders money to fight their effort to improve returns for shareholders. This expense should have come out of the Company own pocket, but the Board chose to protect its precious management fee and saddle the shareholder, with the bill.

Saba Capital stated that it is seeking to replace the Company?s Board with 4 new independent trustees, and it believes these individuals will address the Company?s deep trading discount, eliminating the Company?s discount would generate a 20% gain for shareholders in which Saba?s nominees have been successful in reducing discounts in dozens of similar situations. Saba urged shareholders to vote for the election of nominees Ketu Desai, Frederic Gabriel, Paul Kazarian and Garry Khasidy on the gold proxy card.