Axel Merk escalates his fight, alleging the Saba-controlled board terminated him and now seeks to launch a rival mining fund

summarizeSummary

Axel Merk, former COO of ASA Gold & Precious Metals, is soliciting shareholder interest in a new mining fund after the Saba-controlled Board terminated his management contract. He alleges conflicts of interest, governance failures, and warns of severe tax consequences if Saba's liquidation plan moves forward.

check_boxKey Events · Corporate Governance and Compliance · ASA

• Merk's Advisory Agreement Terminated

  On June 30, 2026, the Saba-controlled Board terminated Merk Investments' advisory agreement. ASA is now managed by Board members with no precious metals mining expertise, led by a Saba partner.

• Merk Solicits Interest for New Mining Fund

  Merk is asking shareholders to register potential interest in a future Merk-managed mining strategy, signaling he may launch a competing vehicle to retain ASA's investor base.

• Performance Data Highlights Strong Track Record

  Under Merk's tenure from April 2019 to June 2026, ASA delivered a 413.26% total return, outperforming its benchmark and all peers on a risk-adjusted basis.

• Alleges Saba Conflict of Interest

  Merk claims Saba hedges its precious metals exposure in ASA while pushing for liquidation, creating a conflict where Saba benefits from management fees in a restructured vehicle.

auto_awesomeAnalysis · ASA · Unknown

Former COO Axel Merk is publicly soliciting shareholders to register interest in a new Merk-managed mining strategy after the Saba-controlled Board terminated his advisory agreement on June 30. He details ASA's 413% total return under his tenure, accuses Saba of hedging its exposure while pushing for liquidation, and warns of punitive tax consequences if Saba's restructuring proceeds. This is a direct challenge to the Board's legitimacy and a bid to retain ASA's investor base, escalating the proxy fight.