---------------------------- OMB APPROVAL ---------------------------- OMB Number: Expires: Estimated average burden hours per response..... ---------------------------- SEC USE ONLY ---------------------------- ---------------------------- 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, 2003 If amended report check here: |_| Amendment Number: ____ This Amendment (Check only one): |_| is a restatement |_| adds new holding entries. ASA Limited -------------------------------------------------------------------------------- Name of Institutional Investment Manager 36 Wierda Road West Sandton South Africa 2196 -------------------------------------------------------------------------------- Business Address (Street) (City) (State) (Zip) 13F File Number: 28-__________ 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, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Robert J.A. Irwin Chairman & Treasurer 716-883-2427 -------------------------------------------------------------------------------- Name (Title) (Phone) ------------------------------------------ (Manual Signature of Person Duly Authorized to Submit This Report) Buffalo, New York February 10, 2004 ------------------------------------------ (Place and Date of Signing) Report Type: [X] 13F HOLDINGS REPORT. [ ] 13F NOTICE. [ ] 13F COMBINATION REPORT. Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 5 Form 13F Information Table Value Total: $122,313 (thousands) List of Other Included Managers: Name and 13F file numbers of ALL Institutional Investment Managers with respect to which this schedule is filed (other than the one filing this report): (List in alphabetical order). [If there are no entries in this list, state "NONE" and omit the column headings and list entries.] None FORM 13F INFORMATION TABLE ------------------------------------------------------------------------------------------------------------------------------------ ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8 FAIR INVESTMENT DISCRETION VOTING AUTHORITY TITLE MARKET SHARES OR SHARED NAME OF ISSUER OF CUSIP VALUE PRINCIPAL SOLE SHARED OTHER MANA- SOLE SHARED NONE CLASS NUMBER (x$1000) AMOUNT (A) (B) (C) GERS (A) (B) (C) ------------------------------------------------------------------------------------------------------------------------------------ Barrick Gold Corp. Common 067901108 16,578 730,000 SH Sole 730,000 Compania de Minas Buenaventura Sponsored ADR 20448104 26,199 900,000 SH Sole 900,000 Harmony Gold Mining Ltd. Sponsored ADR 413216300 35,161 2,166,400 SH Sole 2,166,400 Newmont Mining Corp. Common 651639106 25,295 520,368 SH Sole 520,368 Placer Dome, Inc. Common 725906101 19,080 1,065,312 SH Sole 1,065,312