UNITED STATES
                          SECURITIES AND EXCHANGE COMMISSION
                               Washington, D.C.  20549

                                     SCHEDULE 13D/A

                      Under the Securities Exchange Act of 1934
                                   (Amendment No. 2)**

                                 ASA (BERMUDA) LIMITED
                                   (Name of Issuer)

                                     Common Stock
                            (Title of Class of Securities)

                                      G3156P103
                                    (CUSIP Number)

                                    Jon L. Mosle
                                HBK Investments L.P.
                            300 Crescent Court, Suite 700
                                  Dallas, TX 75201
                                   (214) 758-6107
              (Name, Address, and Telephone Number of Person Authorized
                       to Receive Notices and Communications)

                                    June 24, 2005
               (Date of Event Which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(e), 3d-1(f), or 13d-1(g), check the
following box. / /

Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 13d-7 for other
parties to whom copies are to be sent.

*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities,
and for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).

**In addition to the amendments reflected herein, this amendment is filed to
correct a technical error which resulted in the original Schedule 13D/A filed
on June 27, 2005 being filed in the EDGAR system as form type "SC 13G/A".





CUSIP No. G3156P103

1.  Name of Reporting Person.

    HBK Investments L.P.

2.  Check the Appropriate Box if a Member of a Group

    (a) /  /
    (b) /  /

3.  SEC Use Only

4.  Source of Funds

    WC (1)

5.  Check if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or 2(e).

    /  /

6.  Citizenship or Place of Organization: Delaware

              7.  Sole Voting Power: 537,209 (1)(2)
Number of
Shares
Beneficially  8.  Shared Voting Power: 0
Owned By
Each
Reporting     9.  Sole Dispositive Power: 537,209 (1)(2)
Person 
With:
              10. Shared Dispositive Power:  0

11.  Aggregate Amount Beneficially Owned by Each Reporting Person:

     537,209 (1)(2)

12.  Check if the Aggregate Amount in Row (9) Excludes Certain Shares   / /

13.  Percent of Class Represented by Amount in Row (9): 5.6%

14.  Type of Reporting Person: PN

--------------
(1)  HBK Investments L.P. ("Investments") has sole voting and dispositive
     power over the securities identified above (the "Securities") pursuant
     to Investment Management Agreements with HBK Fund L.P. and HBK
     Offshore Fund Ltd. (the "Funds").  Accordingly, the Funds have no
     beneficial ownership of such Securities.  The source of funds used or to
     be used in making purchases is working capital of the Funds.

(2)  Investments' power is exercised by its general partner, HBK Partners II
     L.P., whose general partner is HBK Management L.L.C.




Item 1.  Security and Issuer:

This statement on Schedule 13D relates to shares of common stock of
ASA (Bermuda) Limited, a Bermuda corporation (the "Issuer").  The principal
executive offices of the Issuer are located at 11 Summer Street, 4th Floor,
Buffalo, New York 14209.


Item 2.  Identity and Background:

This statement on Schedule 13D is filed by HBK Investments L.P., a Delaware
limited partnership ("Investments"). Investments is an investment management
firm that provides investment management services to private investment
funds.  Its principal office is located at 300 Crescent Court, Suite 700,
Dallas, TX 75201.  Information is also included herein with respect to the
following persons: HBK Partners II L.P., a Delaware limited partnership
("Partners II"); HBK Management L.L.C., a Delaware limited liability company
("Management"); and Kenneth M. Hirsh, Laurence H. Lebowitz, William E. Rose,
David C. Haley and Jamiel A. Akhtar, members of Management, who may control
Management ("Managers").  Investments and the other entities and individuals
identified in this paragraph are sometimes referred to collectively as the
"Item 2 Persons."

Each of the Managers is a United States citizen.  The principal occupation of
each Manager is serving as a Managing Director of Investments.  The business
address of each Manager is 300 Crescent Court, Suite 700, Dallas, TX 75201,
except for Mr. Hirsh, whose business address is 350 Park Avenue, 20th Floor,
New York, NY 10022.

During the last five years, none of the Item 2 Persons has been convicted in a
criminal proceeding (excluding traffic violations or similar misdemeanors) or
has been a party to a civil proceeding of a judicial or administrative body of
competent jurisdiction and as a result of such proceeding was or is subject to
a judgment, decree or final order enjoining future violations of, or
prohibiting or mandating activities subject to, federal or state securities
laws or finding any violation with respect to such laws.

Item 3.  Source and Amount of Funds or Other Consideration:

The aggregate purchase price for the Securities was approximately
$21.8 million.  The source of funds for the purchase transactions was the
Funds' working capital.  The Securities are held in prime brokerage accounts of
the Funds, which may from time to time have debit balances.  Because other
securities are also held in such accounts, it is not possible to determine the
amounts, if any, of financing used at any time with respect to the Securities.




Item 4.  Purpose of Transaction.

The Securities were acquired by Investments, for the account of the Funds, in
the ordinary course of business and were not acquired with the purpose or
effect of changing or influencing control of the Issuer.

As previously stated, the Issuer has called for a vote, at a Special General
Meeting of Shareholders presently scheduled for July 7, 2005, on proposals to
reduce or eliminate certain limitations on the Issuer's investment policies.
Investments opposes these proposals and believes that it would be
inappropriate to entertain any reduction or elimination on the existing
limitations until such time as the Issuer acts to reduce the discount between
the Issuer's net asset value and the trading price of the Issuer's common
stock.

In light of the foregoing, Investments has decided that on behalf of the
Funds it will not attend or vote at the July 7 meeting, in person or by
proxy.  Investments' analysis has led it to conclude that not attending or
voting will be the most effective way of preventing the Issuer from gaining
approval of the proposals.  If holders of a majority of the Issuer's common
stock are not represented at the meeting, in person or by proxy, the Issuer
will be unable to secure the approval of the proposals.  Investments will
contact its brokers that hold the Securities as nominee for the Funds and
will obtain a legal proxy from such brokers with respect to the Securities,
and Investments will refrain from appearing or exercising the legal proxy on
behalf of the Funds at the July 7 meeting.

Investments expects to continue to focus efforts on reducing the discount
between the Issuer's net asset value and the trading price of the Issuer's
common stock. Investments reviews its holdings, including its holdings in the
Issuer, on an ongoing basis with the objective of identifying and pursuing
investment opportunities with attractive risk and return characteristics for
the Funds. Depending on such review, Investments may make additional
purchases or sales of the Issuer's Common Stock (or derivatives thereof). Any
additional transactions will depend on various factors, including, without
limitation, the outcome of discussions between Investments and the Issuer,
the outcome of the Special General Meeting, the price of the Issuer's Common
Stock (and derivatives thereof), stock market conditions, and business
prospects of the Issuer. Investments has engaged from time to time in
discussions with the Issuer and other shareholders of the Issuer concerning
the Issuer and its business and may have additional discussions with such
parties in the future.

Except as otherwise described herein, none of the Item 2 Persons has any
current plans or proposals that relate to or would result in any of the
transactions or changes contemplated in Items 4(a) through 4(j) of Schedule
13D. Such persons may, at any time and from time to time, review or
reconsider their position and formulate such plans or proposals, but they
have no present intention of doing so.

Item 5.  Interest in Securities of the Issuer

    (a) - (b)

The Securities referenced in this statement consist of 537,209 shares of
common stock of the Issuer beneficially owned by Investments, representing 
approximately 5.6% of the 9,600,000 shares of common stock of the
Issuer outstanding as of November 30, 2004, as reported by the Issuer in the
Issuer's 2004 Certified Shareholder Report filed with the Securities and
Exchange Commission on January 31, 2005.

Pursuant to an Investment Management Agreement with the Funds, and acting
through its general partner, Partners II, Investments has the sole power to
vote or direct the vote and to dispose or to direct the disposition of the
Securities.  Accordingly, Investments may be deemed to be the beneficial
owner of the Securities.  Acting through its general partner, Management, and
in its capacity as the general partner of Investments, Partners II has the
sole power to vote or to direct the vote and to dispose or to direct the
disposition of the Securities.  Accordingly, Partners II may be deemed to be
the beneficial owner of the Securities.  In its capacity as the general
partner of Partners II, Management has the sole power to vote or to direct
the vote and to dispose or to direct the disposition of the Securities.
Accordingly, Management may be deemed to be the beneficial owner of the
Securities.  In their capacity as controlling persons of Management, the
Managers have the sole power to vote or to direct the vote and to dispose or
to direct the disposition of the Securities.  Accordingly, each of the
Managers may be deemed to be the beneficial owner of the Securities.  The
Item 2 Persons expressly declare that the filing of this statement on
Schedule 13D shall not be construed as an admission that they are, for the
purpose of Section 13(d) or 13(g) of the Securities and Exchange Act of 1934,
the beneficial owners of the Securities.

    (c)

Except as described below, there have been no acquisitions or dispositions of
the Issuer's common stock made by Investments, for the account of the Funds,
during the past 60 days.

On behalf of HBK Fund L.P.:

Transaction       Number of      Price per    Transaction   Transaction
Date              Shares         Share        Value         Type
07/01/2005         5,000        $ 38.12   $   190,605.00     Buy
06/30/2005        29,200        $ 39.10   $ 1,142,587.24     Buy
06/30/2005        20,000        $ 39.15   $   783,600.00     Buy
06/30/2005         3,000        $ 38.83   $   116,496.90     Buy
06/24/2005           100        $ 38.95   $     3,895.00     Buy
06/22/2005           900        $ 38.30   $    34,467.65     Sell
06/17/2005         2,200        $ 38.96   $    85,704.30     Buy
06/17/2005         2,700        $ 39.02   $   105,356.50     Buy
06/03/2005         6,000        $ 37.47   $   224,822.60     Sell
06/03/2005           300        $ 37.52   $    11,255.22     Sell
05/31/2005         1,000        $ 36.48   $    36,472.47     Sell
05/31/2005           300        $ 36.49   $    10,945.04     Sell
05/27/2005           600        $ 35.56   $    21,336.60     Buy
05/25/2005        10,000        $ 34.90   $   348,980.00     Buy
05/25/2005         2,200        $ 34.88   $    76,795.62     Buy
05/25/2005         2,400        $ 34.83   $    83,596.40     Buy
05/19/2005         2,000        $ 34.39   $    68,790.00     Buy
05/18/2005         4,100        $ 34.50   $   141,568.90     Buy

On behalf of HBK Offshore Fund Ltd.:

Transaction        Number of     Price per    Transaction   Transaction
Date               Shares        Share        Value         Type
5/13/2005          3,000        $ 33.52   $   100,556.70     Buy
5/12/2005          1,500        $ 33.38   $    50,076.45     Buy
 5/3/2005          1,100        $ 34.50   $    37,951.10     Buy
 5/2/2005          4,300        $ 34.61   $   148,814.40     Buy


All of the above transactions were conducted through open market
transactions.


    (d)

The limited partners or shareholders of the Funds that own the Funds, for
which Investments acts as investment manager, have the right to participate
indirectly in the receipt of dividends from, or proceeds from the sale of,
the Securities in accordance with their respective ownership interests in
their respective Funds.

    (e)

Not applicable.

Item 6.  Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer.

The Securities are held in prime brokerage accounts of the Funds and have
been pledged as collateral to secure debit balances in such accounts which
may exist from time to time.

Except as described above, to the best knowledge of Investments, there are no
contracts, arrangements, understandings or relationships (legal or otherwise)
between any of the Item 2 Persons and any other person with respect to any
securities of the Issuer, including but not limited to, transfer or voting of
any of the Shares (including as a result of any pledge), finder's fees, joint
ventures, loan or option arrangements, puts or calls, guarantees of profits,
division of profits or loss, or the giving or withholding of proxies.

Item 7.  Exhibits

None.

After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete
and correct.




                                            DATED:  July 5, 2005

                                            HBK INVESTMENTS L.P.


                                            By:  /s/ Jon L. Mosle
                                                 Jon L. Mosle
                                                 Authorized Signatory (1)

(1)  An Authorization Certificate authorizing Jon L. Mosle to act on
     behalf of HBK Investments L.P. was previously filed.